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    Peter M. Mavoides

    President and Chief Executive Officer at Essential Properties Realty Trust Inc
    Board
    Since 2018
    Age
    58 years
    Education
    Holds a B.S. from the United States Military Academy and an M.B.A. from the University of Michigan.
    Tenure
    Served as the President and Chief Executive Officer at Essential Properties Realty Trust since 2018, having joined its predecessor in March 2016.

    Also at Essential Properties Realty Trust Inc

    AJP
    A Joseph Peil
    Executive Vice President and Chief Investment Officer
    MEP
    Mark E. Patten
    Executive Vice President, Chief Financial Officer, and Treasurer
    RMJ
    R. Max Jenkins
    Executive Vice President and Chief Operating Officer

    About

    Peter M. Mavoides is a seasoned executive in the real estate and finance sectors, having built his career through leadership roles at several prominent companies.

    He led significant transformations at Sovereign and Spirit Realty Capital, where he structured billions of dollars in net lease investments and played a pivotal role in expanding these organizations.

    Since joining the predecessor of Essential Properties Realty Trust in March 2016, he has steered the company as its President and Chief Executive Officer since 2018, demonstrating a robust track record in corporate growth and strategic management.

    $EPRT Performance Under Peter M. Mavoides

    Past Roles

    OrganizationRoleDate RangeDetails
    Essential Properties Realty Trust LLC (EPRT LLC)President and Chief Executive OfficerMarch 2016 - June 2018Later became the operating partnership in connection with the June 2018 IPO
    Spirit Realty Capital, Inc.President and Chief Operating OfficerSeptember 2011 - February 2015Transformed the company from a private enterprise (approximately $3.2B in assets, 37 employees at IPO) to a public company (approximately $8.0B in assets, over 70 employees), leading investments across 150+ transactions with an aggregate purchase price of nearly $2.0B and an average investment per property of $2.6M
    SovereignPresident and Chief Executive OfficerMay 2003 - January 2011Grew the firm from a startup to a leading net-lease investor with over $1.0B invested in net lease transactions, instrumental in structuring approximately $4.0B in net lease assets
    Eastdil Realty (subsidiary of Wells Fargo Bank)EmployeeN/AWorked on structuring sale-leaseback transactions
    CitigroupEmployee in the banking groupN/AFocused on structuring sale-leaseback transactions

    Fixed Compensation

    Data from  FY 2024
    Component NameAmount ($)Payment ScheduleAdditional Details
    Salary750,000 AnnuallyBase salary adjusted based on competitive market data; below 25th percentile of peer group.
    Bonus1,600,000 Annual Cash BonusEarned based on weighted achievement of corporate and individual performance metrics; represents 142% of target bonus (Target: 1,125,000, Threshold: 375,000, Max: 1,875,000).
    Nonqualified Deferred Compensation Earnings0 N/ANo earnings reported.
    All Other Compensation31,000 N/AIncludes miscellaneous compensation; further details not specified.

    Performance Compensation

    Data from  FY 2024

    Stock Awards

    MetricDetails
    Grant DateFebruary 16, 2024
    Grant Date Fair ValuePerformance-Based RSUs: $3,250,000 ; Time-Based RSUs: $1,419,000
    RSU BreakdownThreshold: 43,406 RSUs ; Target: 86,812 RSUs ; Maximum: 217,030 RSUs
    Vesting SchedulePerformance-Based RSUs: 50% vest on December 31, 2026 and 50% on December 31, 2027 ; Time-Based RSUs: Vest annually over 4 years on each anniversary of January 18, 2024
    Vesting ConditionsPerformance RSUs vest on achieving TSR relative to the 2024 TSR Peer Group ; Time RSUs vest subject to continued employment

    Non-Equity Incentive Plan Compensation

    MetricDetails
    Performance Metrics & WeightingsAFFO Per Share: 25%; Gross Investments: 15%; Same Store Rent Growth: 15%; Net Debt-to-Annualized Adjusted EBITDA Ratio: 15%; ESG: 5%; Individual Performance: 25%
    Payout OpportunitiesThreshold: 50%; Target: 150%; Maximum: 250%
    Grant DateFebruary 13, 2024
    Grant Date Fair Value$1,289,000
    Vesting SchedulesTime-Based RSUs: Vest annually over 4 years on each anniversary of January 18, 2024 ; Performance-Based RSUs: Vest at end of a 3-year period ending December 31, 2026 (with potential additional vesting on December 31, 2027)
    Additional ConditionsFor Performance RSUs, vesting is contingent on achieving pre-established TSR goals relative to the 2024 TSR Peer Group; Time-based awards vest subject to continued employment; Grant date stock price is not explicitly provided