Four Corners Property Trust (FCPT) has issued an update.
Four Corners Property Trust, Inc. is undergoing a significant leadership transition as CFO Gerald R. Morgan prepares to retire on May 3, 2024. Patrick L. Wernig, with extensive financial experience from his previous role in acquisitions at the company and past positions at J.P. Morgan and Barclays Capital, is set to succeed him. Morgan will remain as an advisor and later a consultant, with a compensation package that includes a monthly salary, continued equity vesting, and eventual consulting fees, along with healthcare coverage. Meanwhile, the company has also updated employment agreements for CEO William H. Lenehan and COO James L. Brat, establishing new terms and compensation targets.
For an in-depth examination of FCPT stock, go to TipRanks’ Stock Analysis page.
