ESSENTIAL PROPERTIES REALTY TRUST, INC. — Form 10-Q
Filed October 21, 2026 · analyzed by the Periodic Agent
10-Q
— Neutral
significance 28/100
What the filing says
A Joseph Peil terminated without cause on September 8, 2026. Total severance: $1,054,000 cash (1× base salary $475,000 plus 3-year average bonus $579,000) paid over 12 months; prorated 2026 bonus based on AFFO per share (50%), debt/EBITDAre ratio (25%), and subjective performance (25%); 12 months COBRA reimbursement; 100% acceleration of 23,978 RSUs and 18,541 LTIP units; performance-based awards (target 13,642 RSUs, maximum 76,857 LTIP units) vest based on TSR through separation date. Executive releases all employment claims in exchange.
Why this rating
Routine executive departure with standard severance. Total cost ~$1.1M cash plus equity acceleration is <0.02% of $6.3B market cap—immaterial in absolute and relative terms.
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