Form 4: Essential Properties Realty Trust CEO Sells Shares Under 10b5-1 Trading Plan

Peter M. Mavoides, President and CEO of Essential Properties Realty Trust, sold shares of common stock on March 21 and 22, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Peter M. Mavoides, the President and CEO of Essential Properties Realty Trust, Inc. (EPRT), reported the sale of company stock.
• On March 21, 2024, Mavoides sold 100 shares of common stock at a price of $26 per share.
• On March 22, 2024, he sold 1,700 shares at a weighted average price of $26.04, with individual sales ranging from $26.005 to $26.08.
• These sales were executed under a Rule 10b5-1 trading plan adopted on June 18, 2023.
• Following these transactions, Mavoides directly owns 564,092 shares of Essential Properties Realty Trust, Inc.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an executive. The sales were conducted under a pre-arranged trading plan, suggesting no particular cause for alarm or excitement.

Industry Context

Sales by company executives are a normal part of corporate governance. The fact that these sales were executed under a 10b5-1 trading plan suggests that the executive did not make the decision to sell based on any inside information.

Stakeholder Impact

• The stock sales could have a minor negative impact on shareholder sentiment, but the existence of a 10b5-1 plan mitigates this concern.

Key Dates