[Form 4] Four Corners Property Trust, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction: Snowflake Inc. (SNOW) EVP Product Management Christian Kleinerman filed a Form 4 for a single sale of company stock executed on 01 Aug 2025 under a pre-arranged Rule 10b5-1 trading plan adopted 19 Dec 2024.

• Shares sold: 10,000 common shares
• Sale price: $216 per share (reported)
• Direct holding after sale: 537,336 shares
• Indirect holdings: 48,568 shares in Kleinerman 2020 Dynasty LLC; 33,499 shares in a 2022 GRAT; 100,000 shares each in 2023 and 2024 GRATs
• Total reported beneficial ownership lines: five (one direct, four indirect)

No derivative transactions were reported. The filing indicates the transaction was routine and did not affect Kleinerman’s officer status.

Positive

• Pre-scheduled 10b5-1 plan reduces risk of opportunistic selling and supports sound governance practices.

Negative

• Insider sale—even if small—can be viewed as a modest bearish signal by some investors focused on insider sentiment.

Insights

Equity Analyst

TL;DR: Small, planned insider sale; limited valuation signal.

The 10,000-share disposal represents ~1.9 % of Kleinerman’s reported direct holdings (537k) and an even smaller portion of his combined direct/indirect position. Because it was executed under a 10b5-1 plan adopted months earlier, it is generally viewed as pre-scheduled rather than opportunistic. Volume is immaterial relative to Snowflake’s average daily volume and market cap, so price impact should be negligible. Overall, the filing offers little new information about operating performance or strategic direction; investors typically regard such a transaction as neutral.

Corporate Governance Specialist

TL;DR: Governance-friendly disclosure, minimal risk signal.

Use of a Rule 10b5-1 plan aligns with best-practice governance and mitigates concerns about potential information asymmetry. Beneficial ownership remains substantial, preserving management’s equity alignment. No red flags, such as accelerated selling or option exercises, are present. Accordingly, the event is not impactful for governance risk assessments.

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 CA 94941

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

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 Stock	08/04/2025		S		778	D	$25.7078	26,346	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:

	/s/ James L. Brat as Attorney-in-Fact for Toni Steele	08/04/2025
	** 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

How many Snowflake (SNOW) shares did EVP Christian Kleinerman sell?

He sold 10,000 common shares on 01 Aug 2025.

What was the sale price reported in the Form 4?

The shares were sold at $216 per share.

How many SNOW shares does Kleinerman now own directly?

Post-transaction direct ownership stands at 537,336 shares.

Were the sales made under a 10b5-1 trading plan?

Yes. The filing states the sale was executed under a Rule 10b5-1 plan adopted 19 Dec 2024.

Are there any derivative securities involved in this filing?

No derivative securities were reported in Table II.

What indirect holdings does Kleinerman report?

Indirectly held shares include 48,568 via a Dynasty LLC and 233,499 across three GRATs established in 2022-2024.