Brat James L 4

What Happened

• James L. Brat, Chief Operations Officer of Four Corners Property Trust (FCPT), was issued an award of 3,263 common shares (acquired at $0.00) and simultaneously had 8,847 common shares surrendered (disposed) at $24.28 each to satisfy tax withholding, generating proceeds of about $214,805. The award appears to be the issuance/vesting of shares, and the share surrender is a tax-withholding action rather than an open-market sale.

Key Details

• Transaction date: 2026-01-22
• Award: 3,263 shares acquired @ $0.00 (code A)
• Tax withholding/surrender: 8,847 shares disposed @ $24.28, total ~$214,805 (code F)
• Footnote: F1 — shares surrendered to the issuer to satisfy tax withholding obligations in connection with issuance of vested common shares.
• Shares owned after the transaction: not specified in the provided filing.
• Filing timeliness: Report filed 2026-01-26; this appears to meet the standard Form 4 reporting window (filed within required business days).

Context

• This combination is a common pattern when equity awards vest: the executive receives new shares and surrenders a portion back to the company to cover payroll or tax withholding. The surrender is not the same as an open-market sale and should not be interpreted as a directional trade signal on its own.