secwatch.observer — SEC 8-K summary
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Issuer:     Four Corners Property Trust, Inc. (FCPT)
CIK:        0001650132
Form:       8-K
Filed at:   2026-10-14T21:15:54+00:00
Accession:  0001193125-26-421810
Event type: other_material
Sentiment:  positive
Materiality: 0.42
Item codes: 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

FCPT extends 100% of Olive Garden, LongHorn leases maturing 2027; 66 leases renewed ~5 years
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- FCPT executed a Master Agreement with Darden Restaurants (NYSE:DRI) covering all 66 Olive Garden and LongHorn leases originally expiring October 2027.
- Leases extended by approximately five years; rent continues to increase 1.5% annually in accordance with the underlying leases.
- Agreement also includes early extension options for six leases expiring October 2028, exercised more than two years ahead.
- No landlord rent concessions or capital contributions were included in the transaction.
- CEO Bill Lenehan said it is the first proof of concept for high renewal rates and sustainable rent in the original spin-off portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650132/000119312526421810/0001193125-26-421810-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650132/000119312526421810/fcpt-20261014.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-421810

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