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Four Corners Property Trust Executive Compensation (FY25)

FCPT · Mill Valley, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): June 8, 2026
199 figures on this page: 189 cited to the filing that reported them, 10 calculated from figures it prints. See the citations
Chief executive, fiscal 2025
◇
William Lenehan
Latest say-on-pay support
=
June 4, 2026
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — William Lenehan: $4,616,714 → $5,701,486 (23.5% higher)
Say-on-pay support: 98.5% → 97.0% (1.5 points lower)

Frequently asked questions

Answers drawn from the data on this page.
Who is Four Corners Property Trust's chief executive and what were they paid?
William Lenehan was paid $5,701,486 in total compensation as President and Chief Executive Officer for fiscal 2025. Lenehan's total was 23.5% higher than the $4,616,714 reported for fiscal 2024.
What was Four Corners Property Trust's say-on-pay result?
Shareholders supported the say-on-pay proposal with 97.0% of votes cast for or against in favor at the meeting held June 4, 2026 for fiscal 2025.
Which companies are in Four Corners Property Trust's peer group?
Companies named in the disclosed peer group include Acadia Realty Trust, Agree Realty Corp., American Assets Trust, Inc., Broadstone Net Lease, Inc. and Centerspace, among others.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Lenehan
President and Chief Executive Officer
◇◇◇———◇◇
Gerald Morgan
Chief Financial Officer
◇◇◇———◇◇
James Brat
Chief Operations Officer, General Counsel and Secretary
◇◇◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Lenehan
President and Chief Executive Officer
◇◇◇———◇◇
James Brat
Chief Operations Officer, General Counsel and Secretary
◇◇◇———◇◇
Gerald Morgan
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Lenehan
President and Chief Executive Officer
◇—◇—◇—◇◇
Patrick Wernig
Chief Financial Officer
◇—◇—◇—◇◇
James Brat
Chief Operations Officer and General Counsel
◇—◇—◇—◇◇
Gerald Morgan
Former Chief Financial Officer
Departed during or after this year
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
William Lenehan
President and Chief Executive Officer
◇◇◇———◇◇
James Brat
Chief Operations Officer, General Counsel and Secretary
◇◇◇———◇◇
Patrick Wernig
Chief Financial Officer and Treasurer
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
James L. BratRSU◇——◇——◇
James L. BratPSU◇◇◇—◇—◇
James L. BratRSU◇——◇——◇
Patrick L. WernigRSU◇——◇——◇
Patrick L. WernigRSU◇——◇——◇
Patrick L. WernigPSU◇◇◇—◇—◇
William H. LenehanPSU◇◇◇—◇—◇
William H. LenehanRSU◇——◇——◇
William H. LenehanRSU◇——◇——◇
William H. LenehanRSU◇——◇——◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Patrick WernigPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
William LenehanRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
James BratRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Douglas B. Hansen
Board chair
◇◇————◇
Charles L. Jemley
◇◇————◇
Barbara Jesuele
◇◇————◇
Liz Tennican
◇◇————◇
Marran H. Ogilvie
◇◇————◇
Toni Steele
◇◇————◇
John S. Moody
◇—————◇
Michael Friedland and William H. Lenehan served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Acadia Realty Trust AKR
  • Agree Realty Corp. ADC
  • American Assets Trust, Inc. AAT
  • Broadstone Net Lease, Inc. BNL
  • Centerspace CSR
  • EPR Properties EPR
  • Essential Properties Realty Trust, Inc. EPRT
  • Getty Realty Corp. GTY
  • LXP Industrial Trust LXP
  • NETSTREIT Corp. NTST
  • One Liberty Properties, Inc. OLP
  • Retail Opportunity Investments Corp. ROIC
  • Saul Centers, Inc. BFS
  • STAG Industrial, Inc. STAG

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 4, 2026=◇◇◇
2024June 5, 2025=◇◇◇
2023June 6, 2024=◇◇◇
2022June 8, 2023=◇◇◇
2021June 10, 2022=◇◇◇
2020June 11, 2021=◇◇◇
2019June 12, 2020=◇◇◇
2018June 14, 2019=◇◇◇
2017June 15, 2018=◇◇◇
2016June 16, 2017=◇◇◇
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What this page does not include

Everything above is a fact Four Corners Property Trust disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Four Corners Property Trust sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
199 figures on this page: 189 cited to the filing that reported them, 10 calculated from figures it prints.
189 cited to the filing
10 calculated from the filing

Documents cited

  1. 0001193125-26-261839
    Item 5.07 Submission of Matters to a Vote of Security Holders
  2. 0001140361-26-015137
    DIRECTOR COMPENSATION · Director Compensation Table · Grants of Plan-Based Awards Table · Outstanding Equity Awards at Fiscal Year End · and 1 more section
  3. 0000950170-25-083787
    Item 5.07 Submission of Matters to a Vote of Security Holders
  4. 0001140361-25-014388
    Summary Compensation Table
  5. 0001650132-24-000085
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001140361-24-020837
    Summary Compensation Table
  7. 0001650132-23-000095
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001140361-23-019602
    Summary Compensation Table
  9. 0001650132-22-000052
    Item 5.07 Submission of Matters to a Vote of Security Holders
  10. 0001650132-21-000053
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001650132-20-000065
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001650132-19-000055
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001650132-18-000063
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001193125-17-209667
    Item 5.07 Submission of Matters to a Vote of Security Holders
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Velarion, “Four Corners Property Trust executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/FCPT (accessed 2026).
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Real Estate rankings

Chief executive pay — Real EstateCEO pay ratio — Real EstateSay-on-pay support — Real Estate

Peers Four Corners Property Trust discloses

The companies named in FCPT's own disclosed peer group.

Acadia Realty TrustAgree Realty Corp.American Assets Trust, Inc.Broadstone Net Lease, Inc.CenterspaceEPR PropertiesEssential Properties Realty Trust, Inc.Getty Realty Corp.LXP Industrial TrustNETSTREIT Corp.One Liberty Properties, Inc.Saul Centers, Inc.STAG Industrial, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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