Essential Properties (EPRT) Executive VP & CIO Craig J. Vachris Receives Award

What Happened Craig J. Vachris, Executive Vice President and Chief Investment Officer of Essential Properties Realty Trust, Inc. (EPRT), was granted 67,476 LTIP Units on September 15, 2026. The units were reported as a grant/award (derivative) with an acquisition price of $0.00, so there was no immediate cash payment reported. These LTIP Units represent contingent rights to OP Units (units of limited partnership interest) that can be exchanged one-for-one for the company's common stock upon vesting, subject to anti-dilution adjustments.

Key Details

• Transaction type/date: Award/Grant (code A) on 2026-09-15; Form 4 filed 2026-09-16.
• Quantity and price: 67,476 LTIP Units acquired at $0.00 (derivative award); total reported cash value $0.
• Vesting: LTIP Units vest in one-fourth annual installments on each of the first four anniversaries of September 15, 2026 (i.e., annual vesting through 2029), subject to continued employment.
• Conversion: OP Units are redeemable for cash or, at the company’s election, exchangeable 1:1 for common stock (subject to anti-dilution).
• Expiration: No expiration date for the LTIP Units or OP Units per footnotes.
• Shares owned after transaction: Not specified in the provided excerpt.
• Filing timeliness: Report filed one day after the grant date (not indicated as late).

Context This was a time-based equity award (LTIP Units) rather than a market purchase or sale. For retail investors, such awards are common executive compensation designed to retain management and align incentives; they vest over several years and only convert into common shares upon vesting (subject to the partnership/company mechanics). Because the grant was recorded at $0, there was no immediate cash transaction to the insider.