Four Corners Property Trust extends 66 Darden leases

All 66 leases maturing in 2027 were renewed without landlord rent concessions or capital contributions.

Rhea-AI Filing Summary

Four Corners Property Trust, Inc. (FCPT) announced a master agreement with Darden Restaurants, Inc. and certain affiliates covering all 66 Olive Garden and LongHorn leases previously scheduled to expire in October 2027. The leases were extended by approximately five years, with rent continuing to increase by 1.5% annually under the underlying leases. FCPT said this renews 100% of its Darden leases for those brands with renewal notice dates in 2026.

The agreement also includes early extension options for six leases expiring in October 2028. FCPT and Darden agreed to extend the leases expiring in 2027 through tenant extension options or amendments. FCPT stated that the agreement included no landlord rent concessions or capital contributions.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Leases covered: 66 leases Renewal share: 100% Annual rent increase: 1.5% +2 more

5 metrics

Leases covered 66 leases Olive Garden and LongHorn leases previously expiring in October 2027

Renewal share 100% FCPT’s Darden leases for these brands with renewal notice dates in 2026

Annual rent increase 1.5% Continues under the underlying leases

Extension period Approximately five years Lease extensions

Early extension options Six leases Leases expiring in October 2028

Key Terms

net-leased, tenant extension option, rent concessions, capital contributions

4 terms

net-leased financial

"net-leased restaurant and retail properties"

Net-leased describes a commercial property arrangement where the tenant not only pays rent but also assumes some or all ongoing property costs such as taxes, insurance, and maintenance. For investors, this setup is like leasing out a house where the renter also pays the utilities and yard work: it usually produces steadier, more predictable income and shifts operating cost and vacancy risk away from the landlord, affecting valuation and return expectations.

tenant extension option technical

"via either tenant extension option or amendment"

rent concessions financial

"no landlord rent concessions"

Rent concessions are temporary discounts or incentives a landlord offers to a tenant—such as reduced rent, a free month, allowances for fit-out, or other move-in credits—to secure or retain occupancy. Investors watch concessions because they reduce near-term rental income and can signal softer demand or greater competition in a market; like a shop running a sale to attract shoppers, concessions affect cash flow, valuation and expectations for future rent growth.

capital contributions financial

"no landlord rent concessions or capital contributions"

FAQ

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

How many FCPT leases did Darden renew?

FCPT announced renewals covering all 66 Olive Garden and LongHorn leases that had been scheduled to expire in October 2027. The announcement says this was 100% of FCPT’s Darden leases for those brands with renewal notice dates in 2026.

What are the FCPT lease extension terms?

The leases were extended by approximately five years, and rent will continue to increase by 1.5% annually under the underlying leases. The agreement included no landlord rent concessions or capital contributions.

How were FCPT’s Darden leases extended?

FCPT and Darden agreed to extend the leases expiring in 2027 through either tenant extension options or amendments. The master agreement also includes early extension options for six leases expiring in October 2028.

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

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Available on EDGAR 10/14/2026 - 05:16 PM EDT Accepted by SEC EDGAR 10/14/2026 - 05:15 PM EDT Learn about SEC filing dates

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

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 14, 2026

Four Corners Property Trust, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland			001-37538	47-4456296
(State or Other Jurisdiction of Incorporation)			(Commission File Number)	(IRS Employer Identification No.)
591 Redwood Highway Suite 3215
Mill Valley, California				94941
(Address of Principal Executive Offices)				(Zip Code)

Registrant’s Telephone Number, Including Area Code: (415) 965-8030

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		FCPT		New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On October 14, 2026, Four Corners Property Trust, Inc. (the “Company”) issued a press release announcing entry into a master agreement, extension and exercise with respect to certain leases with Darden Restaurants, Inc. and certain of its affiliates. The Company’s press release is attached as Exhibit 99.1 hereto and is incorporated by reference in this Item 7.01.

The information in this Item 7.01 and Exhibit 99.1 to this Form 8-K is deemed to be “furnished” and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall they be deemed to be incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.		Exhibit Description
99.1		Press Release Dated October 14, 2026
104		Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

			FOUR CORNERS PROPERTY TRUST, INC.
Date:	October 14, 2026	By:	/s/ James L. Brat
			James L. Brat Chief Operations Officer, Chief Legal Officer and Secretary

FCPT Announces Extensions for 100% of Olive Garden and LongHorn Leases Maturing in 2027

MILL VALLEY, Calif.--(BUSINESS WIRE)-- Four Corners Property Trust (NYSE:FCPT), a real estate investment trust primarily engaged in the ownership and acquisition of high-quality, net-leased restaurant and retail properties (“FCPT” or the “Company”), is pleased to announce the execution of a master agreement, extension and exercise (“Master Agreement”) with Darden Restaurants, Inc. and certain of its affiliates (“Darden”) (NYSE:DRI) with respect to all 66 Olive Garden and LongHorn leases previously expiring in October 2027. The Master Agreement also includes the early extension options for six leases expiring in October 2028. The leases have been extended by approximately five years, and in all cases, rent will continue to increase by 1.5% annually in accordance with the underlying leases.

Under the Master Agreement, FCPT and Darden have agreed to extend all Olive Garden and LongHorn leases previously expiring in 2027 via either tenant extension option or amendment. This represents the renewal of 100% of FCPT’s Darden leases for these brands with renewal notice dates in 2026. The agreement did not include any landlord rent concessions or capital contributions.

Bill Lenehan, CEO of FCPT, stated: “This Master Agreement represents our first opportunity to provide proof of concept for the high renewal rate and sustainable rent levels in the original spin-off portfolio. Further, the Master Agreement includes an early exercise for several leases maturing more than two years from now, underscoring the confidence Darden has in our properties. This outcome is the direct result of FCPT’s strategy of pairing best-in-class operators with high-quality, low rent properties.”

About FCPT

FCPT, headquartered in Mill Valley, CA, is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of restaurant and retail properties. The Company seeks to grow its portfolio by acquiring additional real estate to lease, on a net basis, for use in the restaurant and retail industries. Additional information about FCPT can be found on the website at www.fcpt.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding FCPT’s intent, belief or expectations, including, but not limited to, statements regarding the anticipated consequences and benefits of the transaction and other future events and their potential effects on FCPT, including, but not limited to, statements relating to anticipated financial and operating results, the Company’s plans, objectives, expectations and intentions, cost savings and other statements. Words such as “anticipate(s),” “expect(s),” “intend(s),” “plan(s),” “believe(s),” “may,” “will,” “would,” “could,” “should,” “seek(s)” and similar expressions, or the negative of these terms, are intended to identify such forward-looking statements. Forward-looking statements speak only as of the date on which such statements are made and, except in the normal course of FCPT’s public disclosure obligations, FCPT expressly disclaims any obligation to publicly release any updates or revisions to any forward-looking statements to reflect any change in FCPT’s expectations or any change in events,

conditions or circumstances on which any statement is based. Forward-looking statements are based on management’s current expectations and beliefs and FCPT can give no assurance that its expectations or the events described will occur as described. For a further discussion of these and other factors that could cause FCPT’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in FCPT’s most recent annual report on Form 10-K, and other risks described in documents subsequently filed by FCPT from time to time with the Securities and Exchange Commission.

Four Corners Property Trust:
Bill Lenehan, 415-965-8031
CEO

Patrick Wernig, 415-965-8038
CFO

Filing Exhibits & Attachments

2 documents

Press Releases

• EX-99.1 EX-99.1 10.1 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA WITH EMBEDDED LINKBASES DOCUMENT 24.2 KB