Dividend equivalents add shares to FCPT (NYSE: FCPT) director’s position

Rhea-AI Filing Summary

Four Corners Property Trust director Toni S. Steele reported an administrative update related to existing equity awards. A total of 331 dividend equivalent rights accrued on a restricted stock unit award, with each right economically equal to one share of common stock and settled in common stock.

Following this non-cash adjustment, Steele directly holds 25,674 shares of Four Corners Property Trust common stock. The event reflects routine compensation mechanics rather than an open-market purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Steele Toni S

Role Director

Type	Security	Shares	Price	Value
Other	Common Stock	331	$0.00	--

Holdings After Transaction: Common Stock — 25,674 shares (Direct)

Footnotes (1)

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Key Figures

Dividend equivalent rights accrued: 331 rights Shares held after transaction: 25,674 shares

2 metrics

Dividend equivalent rights accrued 331 rights Accrued on restricted stock unit award and settled in common stock

Shares held after transaction 25,674 shares Direct holdings of common stock following Form 4 event

Key Terms

dividend equivalent rights, restricted stock unit award, dividend reinvestment feature

3 terms

dividend equivalent rights financial

"Represents dividend equivalent rights that accrued on a restricted stock unit award"

Dividend equivalent rights are promises that mirror the cash payments shareholders get from a company’s profits, but they are paid to holders of certain awards (like stock options or restricted stock units) rather than to actual shares. Think of them as a paycheck top‑up that matches dividends while the award is not yet a real stock, and they matter to investors because they add to employee compensation costs and potential share dilution, affecting company profitability and per‑share value.

restricted stock unit award financial

"accrued on a restricted stock unit award pursuant to the dividend reinvestment feature"

A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.

dividend reinvestment feature financial

"pursuant to the dividend reinvestment feature of the award"

Form 4 Insider Transactions: What Each Field Means →

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^*

Steele Toni S

(Last) (First) (Middle)

C/O FOUR CORNERS PROPERTY TRUST, INC.

591 REDWOOD HIGHWAY, SUITE 3215

(Street)

MILL VALLEY CALIFORNIA 94941

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Four Corners Property Trust, Inc. [ FCPT ]

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)
04/15/2026

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 Stock	04/15/2026		J		331(1)	A	(1)	25,674	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. Represents dividend equivalent rights that accrued on a restricted stock unit award pursuant to the dividend reinvestment feature of the award. Each dividend equivalent right is the economic equivalent of one share of the registrant's common stock and is settled in common stock.

	/s/ James L. Brat as Attorney-in-Fact for Toni Steele	04/17/2026
	** 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)

FAQ

What did FCPT director Toni S. Steele report in this Form 4?

Toni S. Steele reported 331 dividend equivalent rights accruing on an existing restricted stock unit award. These rights are settled in Four Corners Property Trust common stock, updating her direct holdings without involving an open-market buy or sell transaction.

How many FCPT shares does Toni S. Steele hold after this transaction?

After this transaction, Toni S. Steele directly holds 25,674 shares of Four Corners Property Trust common stock. The change reflects settlement of dividend equivalent rights tied to a restricted stock unit award, rather than a cash purchase or sale of shares.

What are dividend equivalent rights in the FCPT Form 4 filing?

Dividend equivalent rights in this filing represent amounts that accrue on a restricted stock unit award when dividends are paid. Each right is the economic equivalent of one share of Four Corners Property Trust common stock and is settled by delivering additional common shares.

Was this FCPT Form 4 a buy or sell transaction by Toni S. Steele?

This Form 4 does not report a traditional buy or sell. It records 331 dividend equivalent rights accruing on a restricted stock unit award, which are settled in common stock as part of routine equity compensation, rather than an open-market trade.

Does the FCPT Form 4 indicate any change in derivative positions for Toni S. Steele?

The Form 4 data show no remaining derivative positions after this event. The reported change relates only to dividend equivalent rights on a restricted stock unit award, which are settled in Four Corners Property Trust common stock, updating her direct share holdings.