FCPT (NYSE: FCPT) CEO adds shares from dividend equivalents and reinvested dividends
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Four Corners Property Trust President and CEO William H. Lenehan reported routine equity-related adjustments to his holdings. Two “other” transactions on common stock covered dividend-related features of existing awards rather than open-market trades.
One entry for 98 shares reflects dividend equivalent rights that accrued on a restricted stock unit award, which are economically equal to common shares and settled in stock. A second entry for 1,868 shares represents dividends that accrued on a restricted stock award under its dividend reinvestment feature. Following these transactions, Lenehan directly held 771,735 shares of common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Lenehan William H
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 98 | $0.00 | -- |
| Other | Common Stock | 1,868 | $0.00 | -- |
Holdings After Transaction:
Common Stock — 769,867 shares (Direct)
Footnotes (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. Represents dividend that accrued on a restricted stock award pursuant to the dividend reinvestment feature of the award.
Key Figures
Dividend equivalent rights shares: 98 shares
Dividend reinvestment shares: 1,868 shares
Total shares adjusted: 1,966 shares
+2 more
5 metrics
Dividend equivalent rights shares
98 shares
Accrued on restricted stock unit award as dividend equivalent rights
Dividend reinvestment shares
1,868 shares
Dividends accrued on restricted stock award via dividend reinvestment
Total shares adjusted
1,966 shares
RestructuringShares total from two J-code transactions
Shares after first transaction
769,867 shares
Direct FCPT common stock holdings after 98-share adjustment
Shares after second transaction
771,735 shares
Direct FCPT common stock holdings after 1,868-share adjustment
Key Terms
dividend equivalent rights, restricted stock unit award, restricted stock award, dividend reinvestment feature, +1 more
5 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.
restricted stock award financial
"Represents dividend that accrued on a restricted stock award pursuant to the dividend reinvestment feature"
A restricted stock award is company shares given to an employee or executive that cannot be sold or fully owned until certain conditions—like staying with the company for a set time or hitting performance targets—are met. Think of it as a gift that only becomes yours after you fulfill specific obligations; for investors, these awards matter because they can increase the total shares outstanding when they vest, reveal how management is being paid and motivated, and create potential selling pressure when restrictions lift.
dividend reinvestment feature financial
"pursuant to the dividend reinvestment feature of the award"
economic equivalent financial
"Each dividend equivalent right is the economic equivalent of one share"
FAQ
What did FCPT CEO William H. Lenehan report in this Form 4?
William H. Lenehan reported two “other” common stock transactions tied to existing equity awards, not open-market trades. These reflect dividend equivalent rights on restricted stock units and dividends on restricted stock reinvested in shares, modestly increasing his direct common stock holdings.
Are the FCPT Form 4 transactions open-market buys or sells?
No, the transactions are coded as “J” for other acquisition or disposition, not open-market buys or sells. They arise from dividend equivalent rights and dividend reinvestment features on existing equity awards, making them routine compensation-related adjustments rather than discretionary trading.
What are dividend equivalent rights mentioned in the FCPT Form 4?
Dividend equivalent rights provide economic value equal to common stock dividends on certain awards. In this case, rights accrued on a restricted stock unit award, each equivalent to one FCPT common share and settled in stock, adding 98 shares to William H. Lenehan’s reported holdings.