EPR Form 4: Benjamin Fox Receives 17,602 Long-Term Incentive Shares

Rhea-AI Filing Summary

Benjamin N. Fox, Executive Vice President of EPR Properties (EPR), received a grant of 17,602 common shares as long-term incentive compensation on 08/14/2025. The shares were granted at a reported price of $0 and the filing shows 17,602 shares beneficially owned following the transaction.

The award will vest in four annual installments beginning January 1, 2026. The Form 4 was signed by an attorney-in-fact on behalf of Mr. Fox on 08/15/2025.

Positive

• Grant provides long-term alignment: 17,602 shares vesting over four years supports executive retention and multi-year incentives
• Clear vesting schedule disclosed: Vesting begins January 1, 2026 and occurs in four annual installments, giving transparency on timing

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine executive equity grant disclosed; standard staggered vesting aligns executive incentives with multi-year performance.

The Form 4 reports a non-cash grant of 17,602 common shares to Benjamin N. Fox, identified as an executive (EVP). The grant price is shown as $0 and the filing states the award vests in four annual installments starting January 1, 2026. This disclosure is consistent with routine long-term incentive practices and provides transparency on timing and potential future dilution. No exercise, sale, or derivative transactions are reported. The filing was executed by an attorney-in-fact and includes the required signatures.

Executive Compensation Analyst

TL;DR: The grant is a straightforward equity compensation award with multi-year vesting; it represents deferred pay rather than immediate cash cost.

The 17,602-share award is documented as long-term incentive compensation with four annual vesting installments beginning 01/01/2026. The $0 reported price indicates a grant rather than a purchase. The Form 4 lists the resulting beneficial ownership as 17,602 shares post-grant. The disclosure lacks additional context such as grant date fair value or performance conditions, so assessment of cost or pay-for-performance alignment is limited to the stated vesting schedule.

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^*

Fox Benjamin N

(Last) (First) (Middle)

909 WALNUT

STE. 200

(Street)

KANSAS CITY MO 64106

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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

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

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

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	08/14/2025		A(1)		17,602(1)	A	$0(1)	17,602	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

Explanation of Responses:

1. The Common Shares of Beneficial Interest were granted to the Reporting Person as long-term incentive compensation and will vest in four annual installments, beginning January 1, 2026.

Remarks:

	/s/ Angela M. Whittaker, attorney-in-fact for Benjamin N. Fox	08/15/2025
	** 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.

FAQ

What change did Benjamin N. Fox report on Form 4 for EPR (EPR)?

The Form 4 reports a grant of 17,602 common shares to Benjamin N. Fox on 08/14/2025 as long-term incentive compensation.

How many shares does Benjamin N. Fox beneficially own after the reported transaction?

The filing reports 17,602 shares beneficially owned following the grant.

When do the granted shares vest for Benjamin N. Fox?

The shares will vest in four annual installments beginning January 1, 2026.

Was there any cash paid for the grant reported on the Form 4?

The transaction lists a price of $0, indicating the shares were granted rather than purchased.

Who signed the Form 4 filing for Benjamin N. Fox?

The Form 4 was signed by Angela M. Whittaker, attorney-in-fact for Benjamin N. Fox on 08/15/2025.