SHANKS VIRGINIA E 4

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.