Salisbury Robert Webb 4

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.