---
schema_version: "secwatch.filing_event.v1"
accession: "0001650132-24-000049"
form_type: "8-K"
ticker: "FCPT"
cik: "0001650132"
company_name: "Four Corners Property Trust, Inc."
filed_at: "2024-03-07T23:59:59+00:00"
generated_at: "2026-06-05T01:36:34.189719+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Four Corners Property Trust CFO Gerald Morgan to retire; Patrick Wernig named successor

## Summary
- CFO Gerald Morgan retires effective May 3, 2024; will serve as Advisor ($50k/month) through Oct 31, then consultant ($8k/month) to Feb 28, 2026.
- Patrick L. Wernig, Managing Director of Acquisitions since 2022 and FCPT employee since 2016, appointed CFO on or about May 3, 2024.
- CEO William Lenehan's amended agreement: $690,100 base salary, 125% target bonus, $2,959,706 target equity award.
- COO James Brat's amended agreement: $448,050 base salary, 65% target bonus, $618,000 target equity award.
- Morgan's transition agreement includes continued equity vesting through consulting period and severance upon termination without cause.

## SEC filing metadata
- accession: 0001650132-24-000049
- form_type: 8-K
- ticker: FCPT
- cik: 0001650132
- company_name: Four Corners Property Trust, Inc.
- filed_at: 2024-03-07T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/0001650132-24-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/fcpt-20240307.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001650132-24-000049
- JSON: https://secwatch.observer/filing/0001650132-24-000049.json
- Plain text: https://secwatch.observer/filing/0001650132-24-000049.txt

## Key facts
- Executive change
  Gerald R. Morgan departed as Chief Financial Officer at Four Corners Property Trust, Inc..
  - Action: retire
  - Role: Chief Financial Officer
  source text: Gerald R. Morgan, the Chief Financial Officer of the Company, will retire from employment with the Company as the Chief Financial Officer effective as of May 3, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/0001650132-24-000049-index.htm
- Executive change
  Patrick L. Wernig was appointed as Chief Financial Officer at Four Corners Property Trust, Inc..
  - Action: appointed
  - Role: Chief Financial Officer
  source text: subject to his appointment by the Company’s Board of Directors, Patrick L. Wernig, the Company’s current Managing Director of Acquisitions, will be appointed as the Company’s Chief Financial Officer on or about the Effective Date
  evidence_url: https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/0001650132-24-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.