EPR Properties director exercises units, gains RSUs

EPR Properties director Peter C. Brown reported equity compensation and an option-like exercise.

Rhea-AI Filing Summary

EPR Properties director Peter C. Brown reported equity compensation and an option-like exercise. On June 1, 2026, he exercised 3,518 Restricted Share Units into the same number of Common Shares of Beneficial Interest, bringing his direct common share holdings to 31,193.

He also received two new awards of Restricted Share Units under the company’s 2016 Equity Incentive Plan: 1,048 units as part of the annual trustee compensation program and 2,358 units issued in lieu of his annual trustee retainer fee. Each unit represents a contingent right to receive one common share and generally vests on the earlier of June 1, 2027 or a defined Change of Control.

Insider Trade Summary

3,518 shares exercised/converted

Exercise 4 txns

Insider BROWN PETER C

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	3,518	$0.00	$0.00
Grant/Award	Restricted Share Units	2,358	$0.00	$0.00
Grant/Award	Restricted Share Units	1,048	$0.00	$0.00
Exercise	Common Shares of Beneficial Interest	3,518	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 3,406 contracts (Direct); Common Shares of Beneficial Interest — 31,193 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 Persons Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one share of Companys Common Shares of Beneficial Interest.

Key Figures

RSUs exercised into common shares: 3,518 shares Common shares held after exercise: 31,193 shares New RSU grant (annual trustee program): 1,048 units +3 more

6 metrics

RSUs exercised into common shares 3,518 shares Exercise of Restricted Share Units on June 1, 2026

Common shares held after exercise 31,193 shares Direct holdings after June 1, 2026 transactions

New RSU grant (annual trustee program) 1,048 units Restricted Share Units under 2016 Equity Incentive Plan

New RSU grant (retainer in lieu of cash) 2,358 units Restricted Share Units issued in lieu of trustee retainer fee

RSUs held after smaller grant 3,406 units Total for one RSU award after June 1, 2026

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

Key Terms

Restricted Share Units, 2016 Equity Incentive Plan, Change of Control, Common Shares of Beneficial Interest

4 terms

Restricted Share Units financial

"Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan"

Restricted share units (RSUs) are a promise from a company to give an employee or service provider actual shares or cash equal to the shares after certain conditions are met, typically staying with the company for a set time or hitting performance targets. Think of them like a time-locked gift card that becomes usable only after you’ve earned it. For investors, RSUs matter because they align employee incentives with company performance and can increase the number of shares outstanding over time, diluting existing ownership and affecting earnings per share.

2016 Equity Incentive Plan financial

"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 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.

Common Shares of Beneficial Interest financial

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

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

FAQ

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

What insider transactions did EPR (EPR Properties) report for Peter C. Brown?

EPR Properties reported that director Peter C. Brown exercised 3,518 Restricted Share Units into common shares and received two new RSU grants of 1,048 and 2,358 units as part of his trustee compensation on June 1, 2026.

How many EPR Properties common shares does Peter C. Brown hold after this Form 4?

After the June 1, 2026 transactions, Peter C. Brown directly holds 31,193 EPR Properties Common Shares of Beneficial Interest. These shares reflect the exercise of 3,518 Restricted Share Units reported in the same Form 4 filing.

What are the terms of the new Restricted Share Units granted to EPR director Peter C. Brown?

Brown received new grants of 1,048 and 2,358 Restricted Share Units. Each unit represents a contingent right to one common share and generally vests on the earlier of June 1, 2027 or a Change of Control, under the 2016 Equity Incentive Plan.

Why did EPR Properties issue Restricted Share Units to Peter C. Brown?

EPR Properties issued Restricted Share Units to Peter C. Brown as part of its annual trustee compensation program and in lieu of his annual trustee retainer fee. These equity awards align trustee compensation with shareholder interests through future common share delivery.

How do the Restricted Share Units for EPR’s Peter C. Brown convert into common shares?

Each Restricted Share Unit for Peter C. Brown represents a contingent right to receive one EPR Properties common share. Once vested, the units are settled and delivered in common shares according to instructions Brown provided to the company before the grant date.

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

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Accepted by SEC EDGAR 06/02/2026 - 11:04 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^*

BROWN PETER C

(Last) (First) (Middle)

909 WALNUT STE 200

(Street)

KANSAS CITY MISSOURI 64106

(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		3,518	A	(1)	31,193	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			3,518	06/01/2026	06/01/2026	Common Shares of Beneficial Interest	3,518	$0	0	D
Restricted Share Units	(2)	06/01/2026		A		2,358		(3)	(3)	Common Shares of Beneficial Interest	2,358	$0	2,358	D
Restricted Share Units	(4)	06/01/2026		A		1,048		(3)	(3)	Common Shares of Beneficial Interest	1,048	$0	3,406	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 Persons Annual Trustee Retainer fee. Each Restricted Share Unit represents a contingent right to receive one share of Companys Common Shares of Beneficial Interest.

Remarks:

	/s/ Angela M. Whittaker, Attorney-in-Fact for Peter C. Brown	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)