Form 4: EPRT Executive VP Acquires Shares via RSU Vesting

Essential Properties Realty Trust Executive VP and CIO, A. Joseph Peil, acquired 121 shares of common stock as an adjustment to vested performance-based RSUs.

Summary

• A. Joseph Peil, Executive VP and CIO of Essential Properties Realty Trust, Inc. (EPRT), acquired 121 shares of common stock.
• The transaction occurred on January 14, 2026.
• The shares were acquired at a price of $0, indicating a non-cash transaction such as vesting or a grant.
• This acquisition represents an adjustment to performance-based Restricted Stock Units (RSUs) granted in 2022, which vested on December 31, 2025.
• The adjustment is related to the payment of quarterly dividends to stockholders for the fourth quarter of 2025, as per the underlying award agreement.
• Following this transaction, A. Joseph Peil beneficially owns 76,938 shares of EPRT common stock.

Sentiment

Score: 6

Explanation: The filing reports a routine insider transaction involving the vesting of RSUs, which is a standard part of executive compensation. The increase in beneficial ownership by an executive is generally a minor positive, indicating continued alignment of interests, but does not provide significant new information to alter overall sentiment.

Positives

• The Executive VP and CIO, A. Joseph Peil, increased his beneficial ownership in the company by 121 shares, which can be viewed as a minor positive for insider alignment.

Future Outlook

This filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing reports a routine insider transaction related to executive compensation. The vesting of Restricted Stock Units (RSUs) is a common practice across various industries, including the real estate investment trust (REIT) sector, to align executive interests with shareholder value.

Comparison to Industry Standards

• The use of performance-based Restricted Stock Units (RSUs) as a component of executive compensation is a standard practice among publicly traded companies, including REITs like Essential Properties Realty Trust.
• The adjustment of RSU shares for dividend equivalents, as seen in this filing, is also a common feature in RSU award agreements to ensure that RSU holders receive the same economic benefit as common stockholders during the vesting period.

Related Party Transactions

• The acquisition of shares by an executive through the vesting of RSUs is a transaction between the company and a related party (an executive), which is a standard and disclosed form of executive compensation.

Stakeholder Impact

• Shareholders: The increase in insider ownership by an executive may be viewed as a minor positive signal of management's continued alignment with shareholder interests.
• Executive: A. Joseph Peil's equity stake in the company has increased, further aligning his financial interests with the company's performance.

Key Dates

Recommendation

This Form 4 filing reports a routine, non-open market acquisition of shares by an executive through the vesting of performance-based Restricted Stock Units (RSUs). This is a standard component of executive compensation and does not indicate any new material information about the company's operational performance or strategic direction that would warrant a change in investment recommendation. The increase in insider ownership is a minor positive, but not significant enough to alter a 'hold' stance based solely on this filing.

Keywords

EPRT, Essential Properties Realty Trust, insider transaction, Form 4, RSU vesting, executive compensation, stock acquisition, real estate