EPR director exercises 6,326 RSUs and gets new grants

EPR Properties director Virginia E. Shanks reported compensation-related equity activity.

Rhea-AI Filing Summary

EPR Properties director Virginia E. Shanks reported compensation-related equity activity. She exercised 6,326 Restricted Share Units into Common Shares of Beneficial Interest and, through several awards, received additional Restricted Share Units as part of her annual trustee and chairperson retainer fees under the 2016 Equity Incentive Plan. Following these transactions, she directly holds 36,853 common shares, and the new Restricted Share Units generally vest on the earlier of June 1, 2027 or a defined Change of Control, giving her future rights to receive additional common shares if vesting conditions are met.

Insider Trade Summary

6,326 shares exercised/converted

Exercise 5 txns

Insider SHANKS VIRGINIA E

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Share Units	6,326	$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
Grant/Award	Restricted Share Units	786	$0.00	$0.00
Exercise	Common Shares of Beneficial Interest	6,326	$0.00	$0.00

Holdings After Transaction: Restricted Share Units — 16,817 contracts (Direct); Common Shares of Beneficial Interest — 36,853 shares (Direct)

Footnotes (5)

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.
5. F5. Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan in lieu of the reporting person's chairperson retainer fees. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.

Key Figures

RSUs exercised into common shares: 6,326 shares Common shares held after transactions: 36,853 shares New RSU award: 786 units +4 more

7 metrics

RSUs exercised into common shares 6,326 shares Exercise of Restricted Share Units on June 1, 2026

Common shares held after transactions 36,853 shares Direct holdings following reported Form 4 transactions

New RSU award 786 units Restricted Share Units granted under 2016 Equity Incentive Plan

Additional RSU award 1,965 units RSUs granted as part of trustee compensation

Chairperson RSU award 2,358 units RSUs issued in lieu of chairperson retainer fees

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

Transactions classified as acquisitions 5 transactions All reported transactions directionally categorized as acquire

Key Terms

Restricted Share Units, 2016 Equity Incentive Plan, Change of Control, Annual Trustee Retainer fee, +1 more

5 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

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

Change of Control regulatory

"the vesting date for the Restricted Share Units is the earlier of (a) June 1, 2027, or (b) a Change of Control"

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"

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 Virginia E. Shanks report at EPR (EPR)?

Virginia E. Shanks reported exercising 6,326 Restricted Share Units into Common Shares and receiving several new Restricted Share Unit awards. These awards are part of EPR Properties’ 2016 Equity Incentive Plan and relate to her annual trustee and chairperson retainer compensation.

How many EPR Properties common shares does Virginia E. Shanks hold after these Form 4 transactions?

After the reported transactions, Virginia E. Shanks directly holds 36,853 Common Shares of Beneficial Interest. This total reflects her position following the exercise of 6,326 Restricted Share Units into common shares on June 1, 2026, with no open-market sales disclosed.

What Restricted Share Unit grants did Virginia E. Shanks receive from EPR (EPR)?

She received several Restricted Share Unit grants, including awards of 786, 1,965, and 2,358 units. Each Restricted Share Unit represents a contingent right to receive one EPR Properties common share, issued as part of her annual trustee and chairperson compensation and retainer fees.

When do the new EPR Properties Restricted Share Units for Virginia E. Shanks vest?

The Restricted Share Units generally vest on the earlier of June 1, 2027 or a Change of Control as defined in the 2016 Equity Incentive Plan. Once vested, they settle into EPR Properties common shares according to instructions provided before the grant date.

Were Virginia E. Shanks’ EPR (EPR) equity awards tied to cash purchases or market trades?

The reported awards and exercises were compensation-related, not open-market trades. Restricted Share Units were granted under EPR’s 2016 Equity Incentive Plan and in lieu of trustee and chairperson retainer fees, with an exercise of existing units into common shares at no stated purchase price.

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

Form 4 Insider Transactions: What Each Field Means →

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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^*

SHANKS VIRGINIA E

(Last) (First) (Middle)

909 WALNUT ST.

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		6,326	A	(1)	36,853	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			6,326	06/01/2026	06/01/2026	Common Shares of Beneficial Interest	6,326	$0	5,854	D
Restricted Share Units	(2)	06/01/2026		A		2,358		(3)	(3)	Common Shares of Beneficial Interest	2,358	$0	8,212	D
Restricted Share Units	(4)	06/01/2026		A		1,965		(3)	(3)	Common Shares of Beneficial Interest	1,965	$0	10,177	D
Restricted Share Units	(5)	06/01/2026		A		786		(3)	(3)	Common Shares of Beneficial Interest	786	$0	10,963	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.

5. Restricted Share Units were issued to the reporting person pursuant to the Company's 2016 Equity Incentive Plan in lieu of the reporting person's chairperson retainer fees. Each Restricted Share Unit represents a contingent right to receive one share of the Company's Common Shares of Beneficial Interest.

Remarks:

	/s/ Angela M. Whittaker, Attorney-in-Fact for Virginia E. Shanks	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)