Essential Properties Realty Trust elevated R. Max Jenkins to president and chief operating officer and approved promotion grants with a target value of $2,000,000 ($2.0 million), vesting 50% on each specified anniversary. Investors now have defined Leadership assignments, employment terms and compensation arrangements for key executives.

Key Highlights

  • Robert W. Salisbury’s role now includes chief strategy officer responsibilities alongside his finance and secretary duties.
  • A Joseph Peil’s employment is set to terminate effective September 8, 2026, with eligibility for severance under his employment agreement.
  • Peter M. Mavoides’ agreement provides for an $800,000 annual base salary and a minimum target Bonus of 150% beginning in fiscal year 2027.

Essential Properties Realty Trust, Inc. (NYSE: EPRT) appointed R. Max Jenkins as president and chief operating officer while Peter M. Mavoides continues as chief executive officer. The leadership changes take effect alongside amended employment arrangements. The board approved the changes on September 4, 2026, and the revised agreements for Mavoides and Jenkins became effective September 8, 2026.

Executive Roles and Employment Terms

Jenkins previously served as executive vice president and chief operating officer before taking the expanded position. Mavoides’ amended agreement continues his employment as chief executive officer through March 31, 2031, subject to automatic one-year renewals. Mavoides’ agreement sets his annual base salary at $800,000. Beginning in fiscal year 2027, his minimum target annual bonus is 150% of base salary, subject to performance targets and compensation committee approval. Salisbury’s position expanded from executive vice president, chief financial officer and secretary to include chief strategy officer. The promotion grants were approved under the 2023 Incentive Plan. Peil’s employment as executive vice president and chief Investment officer will terminate effective September 8, 2026. He remains eligible for severance benefits under his employment agreement for a qualifying termination without cause.