Form 4: Essential Properties Realty Trust CEO Peter Mavoides Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Peter Mavoides, President and CEO of Essential Properties Realty Trust, sold 20,869 shares of common stock at an average price of $27.56 on June 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On June 17, 2024, Peter M. Mavoides, the President and CEO of Essential Properties Realty Trust, Inc. (EPRT), sold 20,869 shares of the company's common stock.
- The sale was executed at a weighted average price of $27.56 per share.
- The transactions occurred within a price range of $27.40 to $27.63.
- Following the transaction, Mavoides directly owns 535,327 shares of EPRT common stock.
- The sale was conducted under a Rule 10b5-1 trading plan adopted on March 14, 2024.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating a routine stock sale by an insider under a pre-arranged trading plan. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by insiders are a common occurrence and are often related to personal financial planning. The use of a 10b5-1 trading plan allows insiders to sell shares over a period of time without being accused of trading on inside information.
Stakeholder Impact
- The sale of shares by the CEO could be perceived neutrally or slightly negatively by shareholders, depending on their individual investment strategies and perceptions of insider activity.
Key Dates
| Date | Description |
|---|---|
| 2021-11-04 | Date of Power of Attorney filed by the reporting person. |
| 2024-03-14 | Date the Rule 10b5-1 trading plan was adopted. |
| 2024-06-17 | Date of the stock sale transaction. |
| 2024-06-20 | Date of signature on the Form 4 filing. |
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