Good day, welcome to the 2026 Annual Stockholders Meeting of Four Corners Property Trust, Inc. I'm Jim Brat, Chief Operations Officer and Chief Legal Officer of Four Corners. I would like to welcome you today and to introduce the Chief Executive Officer and President of our company, Mr. Bill Lenehan. Thank you, Jim. Welcome everyone, and thank you for joining us today. We're excited to be hosting a virtual meeting again this year, which allows us to be more inclusive and reach a greater number of our stockholders. We have stockholders attending via the web portal and the 800 number that we have provided. We will answer questions at the end of the meeting. It is now shortly after 12:30 P.M. Eastern Time, and this meeting is officially called to order. First, I would like to introduce my fellow members of the board at today's meeting. First, Mr. Doug Hansen, who is the current chairman of the board. Doug serves on the board and was founder of Redwood Trust, a public mortgage REIT. Second, Ms. Marran Ogilvie. Marran is the founder of Two Solve LLC, an affiliate of K2 Integrity that invests its resources in select emerging asset managers to accelerate their growth. In her prior roles, she served on boards of multiple companies. Third, Mr. Charles Jemley. Charles is an advisor to Landed and a director at First Watch Restaurant Group, Inc. In his prior roles, Mr. Jemley served as the CFO of Dutch Bros Coffee, CFO of CKE Restaurants Holdings, and as a Senior Vice President of Starbucks. Fourth, Ms. Barbara Jesuele. Barbara is the Deputy Chief Investment Officer at the J. Paul Getty Trust. Fifth, Ms. Toni Steele. Toni is the global lead for the real estate portfolio and transactions at Snapchat. In her prior role, she served as Google's global director and lead of real estate asset management and co-head of affordable housing. Sixth, Ms. Liz Tennican. Liz is a managing partner at Carmel Partners, where she is head of investor relations and ESG. Finally, Mr. Michael Friedland. Mr. Friedland most recently served as the Vice Chair of global corporate banking real estate at JPMorgan. Prior to that role, he served as Head of Real Estate Special Credits and Workout Group, and Managing Director of the syndicated and leveraged finance group. Jim Brat will act as Secretary of the Meeting. I will turn to him with any procedural issues that may arise. Thanks, Bill. We are also joined here today by KPMG, our independent auditors. They'll be available during the question and answer session after the meeting to respond to any relevant questions. Finally, the company has appointed Broadridge Financial Solutions to act as inspector of election. Beth VanDerbeck is with us today and has taken the oath of inspector of election. After the formal meeting has been adjourned, we'll provide time for general questions. Only validated stockholders will be able to ask questions in the designated field on the web portal. Out of consideration for others, please limit yourself to one question. Please note that this meeting is being recorded. However, no one attending via the webcast or telephone is permitted to use any audio recording device. The board fixed April 6th, 2026, as the record date for determining stockholders entitled to vote at this meeting. An affidavit has been delivered attesting to the fact that either, one, a notice of internet availability of the notice of the meeting, the proxy statement, and the 2025 annual report to stockholders, or two, the documents themselves were mailed on or about April 16th, 2026, to all stockholders as of the record date, and will be incorporated into the minutes of this meeting. The stockholder list shows that as of the record date, there were 109,749,197 shares of common stock outstanding and entitled to vote at this meeting. We are informed by the inspector of election that there are stockholders represented in person via the web portal or by proxy shares of common stock representing 102,786,306 votes, or approximately 94% of the voting power on the record date. Since this represents more than a majority of the voting power of all issued and outstanding stock entitled to vote on the record date, a quorum is present for purposes of transacting business. I will now present the matters to be voted upon. Please note that we will give stockholders an opportunity to comment on the proposals themselves after all proposals have been presented. Proposal one is the election of eight directors to the board. The current board has nominated Mr. Bill Lenehan, Mr. Douglas Hansen, Ms. Marran Ogilvie, Mr. Charles Jemley, Ms. Barbara Jesuele, Ms. Toni Steele, Ms. Liz Tennican, and Mr. Michael Friedland. These are for election as directors to hold office until the 2027 annual meeting of stockholders and until their successors are duly elected and qualified. Proposal two is to vote upon the ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31st, 2026. Proposal three is to vote to approve on a non-binding advisory basis the compensation of our named executive officers. If any stockholder would like to make a comment regarding any of the proposals, please submit your comment through the web portal. The polls are now open. Any stockholder who hasn't yet voted or wishes to change their vote may do so by clicking on the voting button on the web portal and following the instructions there. Stockholders who have sent in proxies or voted via telephone or internet and do not want to change their vote do not need to take any further action. Now that everyone has had the opportunity to vote, I now declare the polls for the 2026 Four Corners Property Trust annual stockholder meeting closed. Jim, do we have preliminary voting results? We do. We've been informed by the Inspector of Election that the preliminary vote report shows that the nominees for election to the board have been duly elected, that KPMG LLP has been appointed as our independent public accounting firm for the fiscal year ending December 31st, 2026, and that the compensation of our named executive officers has been approved on a non-binding advisory basis. We will be reporting the final vote results in a Form 8-K to be filed within four business days. Thank you, Jim. There being no further business to come before the meeting, the 2026 annual meeting of stockholders of Four Corners Property Trust is now adjourned. Now, we would like to open things up for stockholder questions and comments. Please note we will attempt to answer as many questions as time allows, but only questions that are germane to the meeting will be addressed. There being no questions, that concludes our Q&A session. Thank you to all our stockholders for your attendance today and for your support of Four Corners. This now concludes the meeting. Thank you for joining, and have a pleasant day.
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