Four Corners Property Trust, Inc. Announces 2024 Annual Meeting of Stockholders

TL;DR

<b>Four Corners Property Trust, Inc. will hold its 2024 Annual Meeting of Stockholders virtually on June 6, 2024, to elect directors, ratify auditors, and approve executive compensation.</b>

AI Summary

Four Corners Property Trust, Inc. (FCPT) filed a Proxy Statement (DEF 14A) with the SEC on April 19, 2024. The 2024 Annual Meeting of Stockholders for Four Corners Property Trust, Inc. will be held virtually on June 6, 2024, at 9:30 a.m. Pacific Time. Stockholders will vote on the election of eight directors to the Board of Directors. The appointment of KPMG LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024, will be ratified. Stockholders will vote on a non-binding advisory basis to approve the compensation of named executive officers. Proxy materials are accessible online at www.proxyvote.com, with a Notice of Internet Availability sent to stockholders.

Why It Matters

For investors and stakeholders tracking Four Corners Property Trust, Inc., this filing contains several important signals. This filing is a definitive proxy statement (DEF 14A), indicating it contains important information for shareholders regarding corporate governance and voting matters. The company is utilizing the 'notice and access' rules, making proxy materials available online to reduce printing and mailing costs, which is a common practice for public companies.

Risk Assessment

Risk Level: low — Four Corners Property Trust, Inc. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting, with no immediate financial or operational concerns indicated.

Analyst Insight

Review the director nominees, auditor ratification, and executive compensation proposals to make informed voting decisions.

Key Numbers

• 8 — Directors (Number of directors to be elected to the Board of Directors.)
• 2024 — Annual Meeting Year (The year of the Annual Meeting of Stockholders.)
• 9:30 a.m. — Meeting Time (Pacific Time start time for the virtual Annual Meeting.)

Key Players & Entities

• Four Corners Property Trust, Inc. (company) — Registrant and filer of the proxy statement.
• KPMG LLP (company) — Proposed independent registered public accounting firm.
• June 6, 2024 (date) — Date of the Annual Meeting of Stockholders.
• December 31, 2024 (date) — Fiscal year end for which KPMG LLP is proposed as auditor.
• 2024 (date) — Year of the Annual Meeting and fiscal year.

FAQ

Industry Context

Four Corners Property Trust, Inc. is a real estate investment trust (REIT) primarily engaged in the ownership and management of net lease properties.

Regulatory Implications

The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies from shareholders.

What Investors Should Do

1. Review the list of director nominees and their qualifications.
2. Examine the proposal to ratify KPMG LLP as the independent auditor.
3. Understand the details of the executive compensation plan being presented for advisory approval.

Key Dates

• 2024-06-06: Annual Meeting of Stockholders — Key date for shareholder voting on corporate matters.
• 2024-04-19: Filing Date — Date the definitive proxy statement was filed with the SEC.

Year-Over-Year Comparison

This is the initial filing for the 2024 proxy season, providing details for the upcoming annual meeting.

Filing Documents

• ny20022009x1_def14a.htm (DEF 14A) — 1065KB
• logo_fcpt.jpg (GRAPHIC) — 19KB
• sig_jamesbrat.jpg (GRAPHIC) — 17KB
• sig_williamlenehan.jpg (GRAPHIC) — 12KB
• ny20022009x1_graph01x1.jpg (GRAPHIC) — 133KB
• ny20022009x1_pc01.jpg (GRAPHIC) — 637KB
• ny20022009x1_pc02.jpg (GRAPHIC) — 528KB
• ny20022009x1_pvp01.jpg (GRAPHIC) — 118KB
• ny20022009x1_pvp02.jpg (GRAPHIC) — 105KB
• ny20022009x1_pvp03x1.jpg (GRAPHIC) — 109KB
• 0001140361-24-020837.txt (&nbsp;) — 6083KB
• ftcp-20240606.xsd (EX-101.SCH) — 8KB
• ftcp-20240606_def.xml (EX-101.DEF) — 8KB
• ftcp-20240606_lab.xml (EX-101.LAB) — 21KB
• ftcp-20240606_pre.xml (EX-101.PRE) — 9KB
• ny20022009x1_def14a_htm.xml (XML) — 156KB

EXECUTIVE COMPENSATION DISCUSSION AND ANALYSIS

EXECUTIVE COMPENSATION DISCUSSION AND ANALYSIS 25 Introductory Note 25 Overview of Company Performance During 2023 25 Compensation Philosophy and Objectives 25 Overview of Compensation Components 26 Checklist of Compensation Practices 26 Compensation Determination Process 27 Elements of Compensation 29 COMPENSATION TABLES 35 Summary Compensation Table 35 Grants of Plan-Based Awards Table 36 Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table 36 Outstanding Equity Awards at Fiscal Year End 38 Option Exercises and Stock Vested 38 Potential Payments Upon Termination or Change in Control 39 i TABLE OF CONTENTS PAY RATIO DISCLOSURE 40 PAY VERSUS PERFORMANCE TABLE 41 SECURITIES AUTHORIZED FOR ISSUANCE UNDER EQUITY COMPENSATION PLANS 44

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 45 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 46 Procedures for Approval of Related Party Transactions 46 MISCELLANEOUS 46 Stockholder Proposals and Nominations 46 Householding 47 Other Matters 47 ANNEX A A-1 ii TABLE OF CONTENTS 591 Redwood Highway, Suite 3215 Mill Valley, California 94941 (415) 965-8030 PROXY STATEMENT GENERAL INFORMATION REGARDING SOLICITATION AND VOTING General This proxy statement will first be made available to stockholders on or about April 19, 2024. This proxy statement is furnished by the Board of Directors (the "Board") in connection with its solicitation of proxies for Four Corners Property Trust, Inc.'s 2024 Annual Meeting of Stockholders (the "Annual Meeting") to be held on Thursday, June 6, 2024, at 9:30 a.m., Pacific Time, via live webcast at www.virtualshareholdermeeting.com/FCPT2024, and any postponements or adjournments thereof. Unless the context requires otherwise, references in this proxy statement to "we," "our," "us" and the "Company" refer to Four Corners Property Trust, Inc., a Maryland corporation, together with its consolidated subsidiaries. Pursuant to rules adopted by the U.S. Securities and Exchange Commission ("SEC"), we have elected to provide access to our proxy materials via the Internet. Accordingly, we are sending a Notice of Internet Availability of Proxy Materials (the "Notice") to our stockholders entitled to notice of and to vote at the Annual Meeting and at any postponement or adjournment thereof. The Notice is being mailed to stockholders on or about April 19, 2024. Stockholders will have the ability to access the proxy materials at www.proxyvote.com or request to receive a printed set of the proxy materials by mail or an electronic set of materials by email. Instructions on how to access the proxy materials over the Internet or to request a printed copy may be found in the Notice. In addition, stockh

View Full Filing

View this DEF 14A filing on SEC EDGAR