secwatch.observer — SEC 8-K summary
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Issuer:     Four Corners Property Trust, Inc. (FCPT)
CIK:        0001650132
Form:       8-K
Filed at:   2024-03-07T23:59:59+00:00
Accession:  0001650132-24-000049
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/0001650132-24-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650132/000165013224000049/fcpt-20240307.htm
  HTML page:      https://secwatch.observer/filing/0001650132-24-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer