leadership
confidence high
sentiment neutral
materiality 0.40
Essential Properties Realty Trust amends CFO Mark Patten's employment agreement through Dec 2028
ESSENTIAL PROPERTIES REALTY TRUST, INC.
- Base salary floor of $520,000 per year; minimum target annual bonus set at 125% of base salary.
- Initial term runs to Dec 31, 2028, with automatic one-year renewals unless notice given.
- Severance on termination w/o cause or for good reason: 1x (base + avg 3-yr bonus) or 2x (base + target) if within 24 mo of change in control.
- Equity awards granted after this agreement fully vest on qualifying termination.
- Includes 12-month non-compete and non-solicit covenants plus confidentiality and non-disparagement obligations.