Essential Properties Realty Trust Details CFO Robert Salisbury's Employment Agreement
Summary
Essential Properties Realty Trust filed an amendment to its previous 8-K, providing the full terms of the employment agreement for Executive Vice President and Chief Financial Officer Robert W. Salisbury, effective May 7, 2026.
Key Events
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CFO Employment Agreement Detailed
The company formalized the employment agreement for Robert W. Salisbury, Executive Vice President and Chief Financial Officer, effective May 7, 2026. This follows his appointment disclosed on December 17, 2025.
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Compensation Structure
Mr. Salisbury's agreement includes an annual base salary of not less than $475,000 and an annual performance bonus with a minimum target of 125% of his base salary. He is also eligible for the company's annual long-term incentive program.
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Severance Provisions
In case of termination without cause or resignation for good reason, Mr. Salisbury is entitled to two times the sum of his base salary and average annual bonus. This increases to three times in a change-in-control scenario, along with 18 months of continued health care coverage and full vesting of outstanding equity awards.
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Restrictive Covenants
The agreement includes 12-month non-competition and non-solicitation clauses, as well as confidentiality and non-disparagement obligations.
Analysis
This amendment provides crucial details regarding the compensation and severance package for CFO Robert W. Salisbury, whose appointment was previously disclosed. The agreement outlines a four-year initial term with automatic renewals, a base salary of $475,000, and a target annual bonus of 125% of base salary. The severance provisions are notable, offering two times the sum of base salary and average bonus for termination without cause or resignation for good reason, increasing to three times in a change-in-control scenario, along with 18 months of health coverage and full equity vesting. These terms are standard for a C-suite executive at a company of this size, ensuring competitive compensation and stability for a key leadership role.
At the time of this filing, EPRT was trading at $31.40 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $6.8B. The 52-week trading range was $28.95 to $34.73. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.