EPR director Ziegler exercises 1,510 RSUs, gets new awards

EPR Properties director Caixia Ziegler reported equity compensation activity involving common shares and restricted share units (RSUs).

Rhea-AI Filing Summary

EPR Properties director Caixia Ziegler reported equity compensation activity involving common shares and restricted share units (RSUs). She exercised 1,510 RSUs into Common Shares of Beneficial Interest, bringing her direct common share holdings to 17,946 shares after the transaction.

She also received two RSU awards of 1,965 and 2,358 units under EPR Properties’ 2016 Equity Incentive Plan, including RSUs issued as part of the company’s annual trustee compensation program and in lieu of her annual trustee retainer fee. Each RSU represents a contingent right to receive one common share, generally vesting by June 1, 2027 or earlier upon a defined Change of Control.

Insider Trade Summary

1,510 shares exercised/converted

Exercise 4 txns

Insider Ziegler Caixia

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	1,510	$0.00	$0.00
Grant/Award	Restricted Share Units	2,358	$0.00	$0.00
Grant/Award	Restricted Share Units	1,965	$0.00	$0.00
Exercise	Common Shares of Beneficial Interest	1,510	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 13,157 contracts (Direct); Common Shares of Beneficial Interest — 17,946 shares (Direct)

Footnotes (4)

1. F1. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.
2. F2. Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan as a part of the Company's annual trustee compensation program. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.
3. F3. Subject to certain exceptions, the vesting date for the Restricted Share Units is the earlier of (a) June 1, 2027, or (b) a Change of Control (as defined in the 2016 Equity Incentive Plan). Settlement and delivery of the Company's Common Shares of Beneficial Interest subject to vested Restricted Share Units are made pursuant to instructions provided to the Company by the reporting person prior to the date of grant.
4. F4. Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one share of Company's Common Shares of Beneficial Interest.

Key Figures

RSUs exercised into common shares: 1,510 shares Common shares held after transactions: 17,946 shares First RSU grant: 1,965 units +3 more

6 metrics

RSUs exercised into common shares 1,510 shares Exercise of Restricted Share Units into Common Shares of Beneficial Interest

Common shares held after transactions 17,946 shares Direct ownership following reported Form 4 activity

First RSU grant 1,965 units Restricted Share Units granted under 2016 Equity Incentive Plan

Second RSU grant 2,358 units Additional Restricted Share Units granted under 2016 Equity Incentive Plan

RSUs remaining after exercise 4,417 units Restricted Share Units derivative holdings following exercise transaction

RSU vesting date June 1, 2027 Earlier of June 1, 2027 or Change of Control for RSU vesting

Key Terms

Restricted Share Unit, 2016 Equity Incentive Plan, Change of Control, Annual Trustee Retainer fee

4 terms

Restricted Share Unit financial

"Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest."

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

2016 Equity Incentive Plan financial

"Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan as a part of the Company's annual trustee compensation program."

Change of Control financial

"the vesting date for the Restricted Share Units is the earlier of (a) June 1, 2027, or (b) a Change of Control (as defined in the 2016 Equity Incentive Plan)."

A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

Annual Trustee Retainer fee financial

"Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Caixia Ziegler report at EPR (EPR)?

Caixia Ziegler reported exercising 1,510 restricted share units into common shares and receiving two new RSU awards of 1,965 and 2,358 units. All activity reflects equity compensation rather than open-market buying or selling of EPR Properties stock.

How many EPR Properties common shares does Caixia Ziegler hold after these transactions?

After exercising 1,510 restricted share units, Caixia Ziegler holds 17,946 Common Shares of Beneficial Interest directly. This figure reflects her position following the reported Form 4 transactions and helps gauge the scale of her equity exposure to EPR Properties.

What new restricted share units did Caixia Ziegler receive from EPR (EPR)?

She received two grants of restricted share units: one for 1,965 units and another for 2,358 units. Each RSU represents a contingent right to receive one EPR Properties common share, awarded under the company’s 2016 Equity Incentive Plan.

Why were the new EPR Properties RSUs granted to Caixia Ziegler?

The RSUs were issued under EPR Properties’ 2016 Equity Incentive Plan as part of the annual trustee compensation program and in lieu of her annual trustee retainer fee. This indicates the awards are board compensation, not discretionary market purchases.

When do Caixia Ziegler’s new EPR restricted share units vest?

The RSUs generally vest on the earlier of June 1, 2027, or a Change of Control as defined in the 2016 Equity Incentive Plan. Settlement into common shares occurs according to instructions Ziegler provided to the company before the grant date.

Do Caixia Ziegler’s EPR RSUs immediately convert into common shares?

No, the RSUs are contingent rights that convert into common shares only after vesting. Each restricted share unit represents one future EPR Properties common share, with settlement and delivery following the plan’s vesting provisions and Ziegler’s prior settlement instructions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/02/2026 - 11:03 AM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ziegler Caixia

(Last) (First) (Middle)

421 W. ROSLYN PLACE

(Street)

CHICAGO ILLINOIS 60614

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
EPR PROPERTIES [ EPR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	06/01/2026		M		1,510	A	(1)	17,946	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Share Units	(1)	06/01/2026		M			1,510	06/01/2026	06/01/2026	Common Shares of Beneficial Interest	1,510	$0	4,417	D
Restricted Share Units	(2)	06/01/2026		A		2,358		(3)	(3)	Common Shares of Beneficial Interest	2,358	$0	6,775	D
Restricted Share Units	(4)	06/01/2026		A		1,965		(3)	(3)	Common Shares of Beneficial Interest	1,965	$0	8,740	D

Explanation of Responses:

1. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.

2. Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan as a part of the Company's annual trustee compensation program. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.

3. Subject to certain exceptions, the vesting date for the Restricted Share Units is the earlier of (a) June 1, 2027, or (b) a Change of Control (as defined in the 2016 Equity Incentive Plan). Settlement and delivery of the Company's Common Shares of Beneficial Interest subject to vested Restricted Share Units are made pursuant to instructions provided to the Company by the reporting person prior to the date of grant.

4. Restricted Share Units were issued to Reporting Person in lieu of the Reporting Person's Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one share of Company's Common Shares of Beneficial Interest.

Remarks:

	/s/: Angela M. Whittaker, Attorney-in-Fact for Caixia Ziegler	06/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)