secwatch.observer — SEC 8-K summary
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Issuer:     ESSENTIAL PROPERTIES REALTY TRUST, INC. (EPRT)
CIK:        0001728951
Form:       8-K
Filed at:   2025-03-28T23:59:59+00:00
Accession:  0001728951-25-000064
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Essential Properties Realty Trust enters employment agreements with COO and CIO through 2028
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- COO R. Max Jenkins and CIO A Joseph Peil each receive $385K base salary and minimum target annual bonus of 125% of base salary.
- Initial term through March 24, 2028, with automatic one-year extensions unless either party gives 60-day non-renewal notice.
- Severance includes 1x (base + avg bonus) for non-CIC termination; 2x (base + target bonus) for termination within 24 months after change in control.
- Equity awards granted after March 24, 2025 will accelerate vesting upon qualifying termination.
- Employment agreements include 6-month non-compete and non-solicitation covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1728951/000172895125000064/0001728951-25-000064-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1728951/000172895125000064/eprt-20250324.htm
  HTML page:      https://secwatch.observer/filing/0001728951-25-000064

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