Salisbury Robert Webb 4

4 · ESSENTIAL PROPERTIES REALTY TRUST, INC. · Filed Feb 23, 2026

AI-generated summary of this filing

Updated Feb 23, 2026

Essential Properties (EPRT) CFO Robert Salisbury Receives LTIP Award

What Happened

Robert Webb Salisbury, Executive Vice President and Chief Financial Officer of Essential Properties Realty Trust, Inc. (EPRT), received a grant of 15,848 Long‑Term Incentive Plan (LTIP) units on 2026-02-20. The units were reported as acquired at $0.00 (no immediate cash paid) and are derivative awards rather than an open‑market purchase or sale.

Key Details

Transaction date: February 20, 2026; Form 4 filed February 23, 2026 (filed within the Section 16 two‑business‑day requirement).
Grant: 15,848 LTIP Units, reported at $0.00 (derivative award).
Vesting: LTIP Units vest ratably on the 1st, 2nd, 3rd and 4th anniversaries of January 18, 2026, subject to continued employment (no expiration date).
Conversion/redeemability: LTIP Units are contingent rights to receive OP Units (units of limited partnership interest). OP Units may be exchanged for shares of the Company’s common stock on a one‑for‑one basis (or redeemed for cash at the Company’s election), subject to anti‑dilution adjustments (see footnotes F1–F3).
Shares owned after the transaction: Not disclosed in the filing excerpt provided.
Filing note: Exhibit 24.1 (Power of Attorney) incorporated by reference.

Context

This is a compensation award (A = Award/Grant) and not a market purchase or sale. Such LTIP/OP unit grants are common executive compensation and do not by themselves indicate buying or selling sentiment. Vesting is time‑based and conditioned on continued employment; conversion to common stock is contingent on plan and partnership provisions.

Form 4

Period: 2026-02-20

Executive VP and CFO

Transactions

Award
OP Units
[F1][F2][F3]
2026-02-20+15,848→ 15,848 total
→ Common Stock (15,848 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 first, second, third and fourth anniversaries of January 18, 2026, subject to the reporting person's continued employment by the Company through the applicable vesting date. There is no expiration date for the LTIP Units or OP Units.

Signature

/s/ Timothy J. Earnshaw, attorney-in-fact|2026-02-23

1 file