Essential Properties awards 67,476 equity units to COO
President and COO Robert M. Jenkins received a contingent equity award of LTIP Units tied to OP Units exchangeable one-for-one into EPRT common stock.
Rhea-AI Filing Summary
ESSENTIAL PROPERTIES REALTY TRUST, INC. (symbol: EPRT) is the issuer of record for a Form 4 filing submitted to the SEC. Jenkins Robert M reported acquisition or exercise transactions in this Form 4 filing.
ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT) reported that President and COO Robert M. Jenkins received a grant of 67,476 LTIP Units (a special class of OP Units) on September 9, 2026, as an equity award. These LTIP Units correspond to 67,476 OP Units, bringing his directly held OP Unit-related interest to 87,971 units.
The LTIP Units vest in two equal installments on the third and fourth anniversaries of September 9, 2026, subject to his continued employment. OP Units are redeemable for cash or, at the company’s election, exchangeable for common stock on a one-to-one basis, subject to anti-dilution adjustments. No Rule 10b5-1 trading plan is reported for this grant.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 67,476 shares
Grant/Award
1 txn
Insider
Jenkins Robert M
Role
President and COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | OP Units F1, F2, F3 | 67,476 | $0.00 | $0.00 |
Holdings After Transaction:
OP Units — 87,971 contracts (Direct)
Footnotes (3)
- F1. The OP Units ("OP Units") are units of limited partnership interest issued by Essential Properties, L.P., a Delaware limited partnership and the entity through which Essential Properties Realty Trust, Inc. (the "Company") holds substantially all of its assets and conducts its operations. The OP Units are redeemable by the holder for cash or, at the Company's election, may be exchanged for shares of the Company's common stock at a one-to-one ratio, subject to anti-dilution adjustments.
- F2. Represents a special class of OP Units issued by Essential Properties, L.P. pursuant to its Partnership Agreement and the Company's Long-Term Incentive Plan ("LTIP Units"). Each LTIP Unit represents the contingent right to receive one OP Unit upon vesting, conditioned upon minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes.
- F3. These LTIP Units vest in one-half annual installments on each of the third and fourth anniversaries of September 9, 2026, subject to the reporting person's continued employment by the Company through the applicable vesting date. There is no expiration date for the LTIP Units or OP Units.
Key Figures
LTIP Units granted: 67,476 units
OP Units or equivalents held after transaction: 87,971 units
Exercise or conversion price: $0.00 per unit
+1 more
4 metrics
LTIP Units granted
67,476 units
Grant to President and COO Robert M. Jenkins on September 9, 2026
OP Units or equivalents held after transaction
87,971 units
Total directly held by Robert M. Jenkins after the reported grant
Exercise or conversion price
$0.00 per unit
Reported price per LTIP Unit granted to Robert M. Jenkins
Exchange ratio OP Units to common stock
1 OP Unit : 1 common share
OP Units exchangeable for EPRT common stock, subject to anti-dilution adjustments
Key Terms
OP Units, LTIP Units, Long-Term Incentive Plan, anti-dilution adjustments
4 terms
OP Units financial
"The OP Units are units of limited partnership interest issued by Essential Properties, L.P."
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
LTIP Units financial
"Represents a special class of OP Units issued pursuant to the Company’s Long-Term Incentive Plan ("LTIP Units")."
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
Long-Term Incentive Plan financial
"special class of OP Units issued by Essential Properties, L.P. pursuant to its Partnership Agreement and the Company's Long-Term Incentive Plan"
A long-term incentive plan is a company program that pays executives or employees with stock, options, or cash tied to multi-year performance goals, where the rewards become theirs only after meeting conditions over time. Think of it as a delayed bonus or retirement-style reward that aligns employees’ interests with shareholders by encouraging them to boost long-term value; investors watch these plans because they affect pay costs, share dilution and management incentives.
anti-dilution adjustments financial
"may be exchanged for shares of the Company's common stock at a one-to-one ratio, subject to anti-dilution adjustments."
Anti-dilution adjustments are changes made to the ownership stakes or value of an investment to protect investors from having their shares become less valuable if the company issues new shares at a lower price. Imagine buying a piece of a pie, and then the pie is cut into more slices without increasing in size—these adjustments help ensure your slice still retains its worth. They matter to investors because they help preserve the value of their investment when the company’s share price drops.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did EPRT report for President and COO Robert M. Jenkins?
EPRT reported that President and COO Robert M. Jenkins received a grant of 67,476 LTIP Units on September 9, 2026. These represent a contingent right to receive an equal number of OP Units as part of the company’s long-term incentive compensation.
How many OP Units or equivalents does Robert M. Jenkins hold after this EPRT grant?
Following the September 9, 2026 grant, Robert M. Jenkins holds a total of 87,971 OP Units (or equivalent) directly, as reported. This reflects the newly granted 67,476 LTIP Units added to his prior OP Unit-related holdings.
What are LTIP Units in EPRT’s structure and how do they relate to OP Units?
LTIP Units are a special class of OP Units issued under EPRT’s Long-Term Incentive Plan. Each LTIP Unit represents a contingent right to receive one OP Unit upon vesting, subject to certain tax-related capital account conditions.
When do the newly granted EPRT LTIP Units to Robert M. Jenkins vest?
The LTIP Units granted to Robert M. Jenkins vest in two equal installments on the third and fourth anniversaries of September 9, 2026. Vesting is conditioned on his continued employment with the company through each applicable vesting date.
Can EPRT OP Units be exchanged for common stock, and at what ratio?
Yes. The filing states that OP Units are redeemable for cash or, at EPRT’s election, may be exchanged for shares of the company’s common stock at a one-to-one ratio, subject to anti-dilution adjustments.
Was the EPRT Form 4 transaction made under a Rule 10b5-1 trading plan?
No. The Form 4 indicates the Rule 10b5-1 checkbox is not marked, meaning the reported grant to Robert M. Jenkins is not identified as being made pursuant to a Rule 10b5-1 trading plan.
AI-generated analysis. How Rhea-AI works. Not financial advice.
