SHANKS VIRGINIA E 4

4 · EPR PROPERTIES · Filed Jun 2, 2026

AI-generated summary of this filing

Updated Jun 2, 2026

EPR Properties Director Virginia Shanks Receives RSUs, Converts Derivative

What Happened

Virginia E. Shanks, a director of EPR Properties (EPR), received equity awards and converted/ exercised a derivative on June 1, 2026. She was granted three Restricted Share Unit (RSU) awards totaling 5,109 RSUs (2,358 + 1,965 + 786) at $0.00 and converted/exercised 6,326 derivative units. The filing also shows a disposition of 6,326 shares at $0.00 (reported as a derivative disposition). No cash proceeds or purchase price are reported for these entries.

Key Details

Transaction date: June 1, 2026; Form 4 filed June 2, 2026 (timely filing).
Grants: 5,109 RSUs issued at $0.00 (codes A — award/grant).
Conversion/exercise: 6,326 derivative units converted/exercised (code M — exercise/conversion); same 6,326 shares reported disposed at $0.00 (derivative disposal).
Shares owned after transaction: Not specified in the provided excerpt.
Relevant footnotes: RSUs represent a contingent right to receive one common share each; issued under the Company’s 2016 Equity Incentive Plan as part of trustee/chairperson retainer fees; vesting is subject to the earlier of June 1, 2027 or a Change of Control; settlement/delivery per reporting person’s instructions.

Context

RSU grants are awards (not open-market purchases) and typically reflect compensation rather than a market-timing purchase. Vesting is generally deferred (here, generally no earlier than June 1, 2027 unless a change of control occurs).
The filing shows an exercise/conversion and an immediate disposal at $0.00 — filings sometimes report such disposals when shares are surrendered to the company for tax withholding or net settlement, but the Form 4 does not state the reason.

Form 4

Period: 2026-06-01

Director

Transactions

Exercise/Conversion
Common Shares of Beneficial Interest
[F1]
2026-06-01+6,326→ 36,853 total
Exercise/Conversion
Restricted Share Units
[F1]
2026-06-01−6,326→ 5,854 total
From: 2026-06-01Exp: 2026-06-01→ Common Shares of Beneficial Interest (6,326 underlying)
Award
Restricted Share Units
[F2][F3]
2026-06-01+2,358→ 8,212 total
→ Common Shares of Beneficial Interest (2,358 underlying)
Award
Restricted Share Units
[F4][F3]
2026-06-01+1,965→ 10,177 total
→ Common Shares of Beneficial Interest (1,965 underlying)
Award
Restricted Share Units
[F5][F3]
2026-06-01+786→ 10,963 total
→ Common Shares of Beneficial Interest (786 underlying)

Footnotes (5)

[F1]Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.
[F2]Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan as a part of the Company's annual trustee compensation program. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.
[F3]Subject to certain exceptions, the vesting date for the Restricted Share Units is the earlier of (a) June 1, 2027, or (b) a Change of Control (as defined in the 2016 Equity Incentive Plan). Settlement and delivery of the Company's Common Shares of Beneficial Interest subject to vested Restricted Share Units are made pursuant to instructions provided to the Company by the reporting person prior to the date of grant.
[F4]Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one share of Company's Common Shares of Beneficial Interest.
[F5]Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan in lieu of the reporting person's chairperson retainer fees. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.

Signature

/s/ Angela M. Whittaker, Attorney-in-Fact for Virginia E. Shanks|2026-06-02

1 file