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Get filing alertsEssential Properties Realty Trust promotes Jenkins to President & COO, terminates CIO Peil, and appoints Craig Vachris as new CIO
Filed September 9, 2026 · Period ending September 4, 2026 · ~1 min read
Key Changes
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Chief Investment Officer A Joseph Peil's employment was terminated without cause effective September 8, 2026, and he will receive severance under his employment agreement.
Item 5.02 verify on EDGAR → -
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Craig Vachris, formerly Chief Credit Officer at W. P. Carey, has been appointed Executive Vice President and Chief Investment Officer, leading asset management and credit underwriting.
Item 7.01 verify on EDGAR → -
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R. Max Jenkins, previously EVP and COO, has been promoted to President and COO, while CEO Peter Mavoides remains in place.
Item 5.02 verify on EDGAR → -
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CFO Robert Salisbury's role has been expanded to include Chief Strategy Officer, adding to his existing CFO and Secretary duties.
Item 5.02 verify on EDGAR → -
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Jenkins and Salisbury each received LTIP Unit grants valued at $2,000,000, vesting 50% at year three and 50% at year four.
Item 5.02 verify on EDGAR →
Summary
Essential Properties Realty Trust announced a series of executive leadership changes. Chief Investment Officer A Joseph Peil's employment was terminated without cause effective September 8, 2026, and he will receive severance under his employment agreement. The company has appointed Craig Vachris, formerly Chief Credit Officer at W. P.
Carey, as the new Executive Vice President and Chief Investment Officer, bringing over 20 years of commercial real estate and net lease experience to lead asset management and credit underwriting. In addition, R. Max Jenkins has been promoted from EVP and COO to President and COO, while CEO Peter Mavoides continues in his role. CFO Robert Salisbury's position has been expanded to include Chief Strategy Officer.
Both Jenkins and Salisbury received LTIP Unit grants valued at $2,000,000 each, vesting over four years. The CEO also executed a new employment contract with a term of approximately four years. These changes reflect a realignment of the executive team, with the departure of the CIO and the appointment of a successor from outside the company. The promotions and expanded roles for Jenkins and Salisbury suggest a deepening of leadership responsibilities, while the new employment agreements provide continuity for the CEO and President.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
EPRT promotes Jenkins to President & COO, expands Salisbury's role, and terminates CIO Peil effective Sept 8, 2026.
Added in current filing · verify on EDGAR →
Messrs. Mavoides and Jenkins entered into amended and restated employment agreements, each effective September 8, 2026, which provide for an initial term through March 31, 2031, subject to one-year automatic renewals.
Both executives signed new employment agreements running through March 31, 2031 with automatic one-year renewals. The agreements update compensation terms and add change-in-control severance protections.
Added in current filing · verify on EDGAR →
Mr. Jenkin’s cash severance will be two times base salary for a qualifying termination of employment not in connection with a change in control of the Company and three times base salary for a qualifying termination of employment in connection with a change in control of the Company.
Jenkins' cash severance is set at 2x base salary for a standard qualifying termination and 3x base salary if terminated in connection with a change in control. This is a material compensation disclosure for a top executive.
Added in current filing · verify on EDGAR →
the Board approved the expansion of Robert W. Salisbury’s position from Executive Vice President, Chief Financial Officer and Secretary to Executive Vice President, Chief Financial Officer, Chief Strategy Officer and Secretary of the Company.
CFO Robert Salisbury adds the Chief Strategy Officer title to his existing CFO and Secretary roles. This signals a broader strategic mandate for the finance chief.
Event · Item 7.01 — Regulation FD Disclosure
EPRT announces appointment of Craig Vachris as EVP and Chief Investment Officer via press release.
Added in current filing · verify on EDGAR →
the appointment of Craig Vachris as the Company’s Executive Vice President and Chief Investment Officer
The company disclosed the appointment of Craig Vachris as Executive Vice President and Chief Investment Officer. The announcement was made via a press release furnished under Item 7.01.
Event · Exhibit 99.1
EPRT announces CEO contract extension, COO and CFO promotions, and a new Chief Investment Officer after AJ Peil's departure.
Added in current filing · view on EDGAR →
Pete Mavoides, the Company’s Chief Executive Officer, has executed a new employment contract with a term of approximately four years.
The CEO signed a new employment agreement lasting about four years, providing continuity in leadership. The filing does not disclose compensation or other terms.
Added in current filing · view on EDGAR →
Max Jenkins, the Company’s Chief Operating Officer, has been promoted and will assume the additional role of President
The Chief Operating Officer is taking on the additional title of President, expanding his leadership responsibilities while retaining his COO role.
Added in current filing · view on EDGAR →
Rob Salisbury, the Company’s Chief Financial Officer, has been promoted and will assume the additional role of Chief Strategy Officer.
The CFO is adding the Chief Strategy Officer title, signaling a broader strategic role while continuing as CFO.
Added in current filing · view on EDGAR →
AJ Peil, the Company’s Chief Investment Officer, has departed the Company.
The Chief Investment Officer has left the company. The filing does not state the reason for the departure or whether it was a resignation or termination.
Added in current filing · view on EDGAR →
The Company has appointed Craig Vachris to the Chief Investment Officer role, where Mr. Vachris will join the Company to lead the asset management and credit underwriting departments.
Craig Vachris joins from W. P. Carey, where he was Chief Credit Officer, bringing over 20 years of commercial real estate and net lease experience to lead asset management and credit underwriting.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 10, 2026 · How we verify