DeLucca Joyce 4

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.