DeLucca Joyce 4

4 · ESSENTIAL PROPERTIES REALTY TRUST, INC. · Filed May 15, 2026

AI-generated summary of this filing

Updated May 15, 2026

EPRT Director Joyce DeLucca Receives LTIP Award (3,837 Units)

What Happened

Joyce DeLucca, a director of Essential Properties Realty Trust, Inc. (EPRT), was granted 3,837 LTIP Units (special OP Units) on 2026-05-13. The units were reported as an award/acquisition at $0.00 (derivative grant).
These LTIP Units are contingent rights to receive OP Units (limited partnership units) upon vesting; no cash changed hands at grant.

Key Details

Transaction date: 2026-05-13; Form 4 filed: 2026-05-15 (appears filed within the typical two-business-day window).
Reported transaction code: A (award/acquisition); price per unit: $0.00.
Shares/units received: 3,837 LTIP Units. Filing does not state total shares/units owned by the reporting person after this grant.
Footnotes: LTIP Units are a special class of OP Units (limited partnership interests) that convert 1:1 to OP Units upon vesting (F1–F2). Vesting occurs ratably on the earlier of the first anniversary of the grant or the first annual stockholder meeting after the grant, subject to continued board service (F3). OP Units are redeemable for cash or, at the company’s election, exchangeable for common stock at a one-to-one ratio, subject to anti-dilution adjustments.
Administrative note: Exhibit 24.1 (Power of Attorney) referenced in the filing.

Context

This is a derivative award (long-term incentive units), not an open-market purchase or sale — it’s generally a compensation/retention grant rather than a direct market signal.
Vesting conditions mean the units convert to economic interest only over time, contingent on continued service and the partnership/plan mechanics described in the footnotes.

Form 4

Period: 2026-05-13

Director

Transactions

Award
OP Units
[F1][F2][F3]
2026-05-13+3,837→ 3,837 total
→ Common Stock (3,837 underlying)

Footnotes (3)

[F1]The OP Units ("OP Units") are units of limited partnership interest issued by Essential Properties, L.P., a Delaware limited partnership and the entity through which Essential Properties Realty Trust, Inc. (the "Company") holds substantially all of its assets and conducts its operations. The OP Units are redeemable by the holder for cash or, at the Company's election, may be exchanged for shares of the Company's common stock at a one-to-one ratio, subject to anti-dilution adjustments.
[F2]Represents a special class of OP Units issued by Essential Properties, L.P. pursuant to its Partnership Agreement and the Company's Long-Term Incentive Plan ("LTIP Units"). Each LTIP Unit represents the contingent right to receive one OP Unit upon vesting, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes.
[F3]These LTIP Units vest ratably on the earlier of (i) the first anniversary of the date of grant and (ii) the first annual meeting of the Company's stockholders that occurs after the date of grant, subject to the reporting person's continued service on the Company's board of directors through the vesting date. There is no expiration date for the LTIP Units or OP Units.

Signature

/s/ Timothy J. Earnshaw, attorney-in-fact|2026-05-15

1 file