Company: EPR-PE
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001045450-25-000068
Chunk: 95

Company: EPR PROPERTIES
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 95
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 a transaction approved by a majority of the incumbent trustees;

• A merger, consolidation, acquisition, sale of all or substantially all of the Company’s assets or properties or similar transaction that requires the approval of our shareholders, other than a “non-qualifying transaction” (as that term is defined in the Amended and Restated 2016 Equity Incentive Plan), is consummated;

• A complete plan of liquidation or dissolution of the Company is consummated;

• The acquisition of direct or indirect control of the Company by any person; or

• Any transaction or series of transactions resulting in the Company being “closely held” within the meaning of the REIT provisions of the Code and with respect to which the Board has either waived or failed to enforce the “excess share” provisions of our amended and restated declaration of trust.

In addition, if there is a corporate merger (other than one in which outstanding Awards are assumed or for which equivalent options or rights are substituted by the successor corporation or a corporate parent or subsidiary of the successor corporation as described above) or if certain other corporate transactions occur in which a “change in control” does not occur, the Committee or the board of directors of any corporation assuming the obligations of the Company, may, in its sole discretion:

• Allow the Award to continue with any necessary adjustments to reflect the corporate transaction;

• Cancel the Award in exchange for a payment equal to the fair market value of the shares underlying the Award or, in the case of a share option or SAR, an amount equal to the greater of the spread between the current share value and the Award’s exercise price or the fair value of the share option or SAR;

• Modify the terms and conditions for the exercise of, or settlement of, outstanding Awards;

• Purchase outstanding Awards at, generally, the then current value of the Award;

• Provide that share options or SARs must be exercised in connection with the closing of such transactions, and that if not so exercised such share options or SARs will expire; or

• Cause any Award then outstanding to be assumed or exchanged for new awards of equivalent economic value.

#### 2025 Proxy StatementPage 80

#### Employee Retirement Income Security Act of 1974
The Amended and Restated 2016 Equity Incentive Plan is not subject to any provisions of the Employee Retirement Income Security Act of 1974.

#### Amendment, Modification and Termination
Except as specifically provided for in the Amended and Restated 2016 Equity In