Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(c) On January 23, 2023, Four Corners Property Trust, Inc. (the "Company")
announced the promotion of James Brat from General Counsel and Chief Transaction
Officer to Chief Operating Officer ("COO"), effective January 20, 2023. Mr.
Brat, age 53, has served as the Company's General Counsel since the Company's
inception in November 2015 and the Company's Chief Transaction Officer since
January 2020.
There are no arrangements or understandings pursuant to which Mr. Brat was
selected for his position, and there are no related party transactions between
the Company and Mr. Brat reportable under Item 404(a) of Regulation S-K. Mr.
Brat does not have any family relationship with any director or executive
officer of the Company.
In recognition for Mr. Brat's promotion to COO, the Board of Directors of the
Company approved a one-time grant of restricted stock units with the fair value
of $400,000 and a five-year vesting cliff. Any future changes to Mr. Brat's
compensatory arrangements will be reported on a subsequent Current Report on
Form 8-K.
Item 7.01 Regulation FD Disclosure
On January 23, 2023, the Company issued a press release announcing the promotion
of Mr. Brat. The press release is being furnished pursuant to this Item 7.01 and
shall not be deemed "filed" for any purpose, including for the purposes of
Section 18 of the Exchange Act or, otherwise subject to the liabilities of that
section.
A copy of the press release is furnished as Exhibit 99.1 to this Current Report
on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Exhibit Description
99.1 Press Release dated January 23, 2023--------------------------------------------------------------------------------
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