secwatch.observer — SEC 8-K summary
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Issuer:     ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT)
CIK:        0001728951
Form:       8-K
Filed at:   2024-10-07T23:59:59+00:00
Accession:  0001728951-24-000148
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Essential Properties Realty Trust amends CFO Mark Patten's employment agreement through Dec 2028
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1728951/000172895124000148/0001728951-24-000148-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1728951/000172895124000148/eprt-20241003.htm
  HTML page:      https://secwatch.observer/filing/0001728951-24-000148

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