Brown William P 4

4 · EPR PROPERTIES · Filed Jun 2, 2026

AI-generated summary of this filing

Updated Jun 2, 2026

EPR Director William P. Brown Receives 4,978 RSU Award

What Happened

William P. Brown, a director of EPR Properties (EPR), received awards and reported a derivative conversion on June 1, 2026. He was granted three Restricted Share Unit (RSU) awards totaling 4,978 RSUs (2,358 + 1,965 + 655) at $0.00 (code A). The filing also shows an exercise/conversion of 2,729 derivative units (code M) with a matching reported disposition of 2,729 derivative units at $0.00. No cash value was reported for the awards or the derivative disposition.

Key Details

Transaction date: June 1, 2026; Form 4 filed: June 2, 2026 (appears timely).
Grants: 2,358 RSUs, 1,965 RSUs, and 655 RSUs — total 4,978 RSUs (awards, $0.00).
Derivative conversion: 2,729 shares reported as exercised/converted (M) and a matching disposition of 2,729 derivative units at $0.00.
Shares owned after the transactions: not specified in the filing.
Footnotes: RSUs are contingent rights to receive one common share each (F1/F2/F4/F5). Vesting is generally the earlier of June 1, 2027 or a Change of Control (F3). RSUs were issued under the 2016 Equity Incentive Plan as part of trustee compensation and in lieu of retainer/chair fees.

Context

RSUs are awards, not open-market purchases or sales; they represent a future right to receive shares if/when they vest. Because these RSUs vest in the future (or upon a change of control), they do not represent immediate share purchases or liquidating sales.
The M-code conversion and the matching $0.00 disposition indicate a derivative conversion event was reported, but the filing does not provide settlement/holding details (e.g., whether shares were withheld for taxes). No dollar amounts or immediate open-market sales were reported.

Form 4

Period: 2026-06-01

Director

Transactions

Exercise/Conversion
Common Shares of Beneficial Interest
[F1]
2026-06-01+2,729→ 2,729 total
Exercise/Conversion
Restricted Share Units
[F1]
2026-06-01−2,729→ 4,238 total
From: 2026-06-01Exp: 2026-06-01→ Common Shares of Beneficial Interest (2,729 underlying)
Award
Restricted Share Units
[F2][F3]
2026-06-01+2,358→ 6,596 total
→ Common Shares of Beneficial Interest (2,358 underlying)
Award
Restricted Share Units
[F4][F3]
2026-06-01+1,965→ 8,561 total
→ Common Shares of Beneficial Interest (1,965 underlying)
Award
Restricted Share Units
[F5][F3]
2026-06-01+655→ 9,216 total
→ Common Shares of Beneficial Interest (655 underlying)

Holdings

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 William P. Brown|2026-06-02

1 file