Starboard Value Trims Stake In Four Corners Property Trust, Inc. (FCPT)

Published on March 17, 2016 at 12:26 pm by Meena Krishnamsetty in Hedge Funds,News

Page 1 of 26

Activist fund Starboard Value, managed by Jeff Smith, has filed a 13D with the US Securities and Exchange Commission, in which it reported its position in Four Corners Property Trust Inc (NYSE:FCPT), which contains 2.81 million shares of the company. The position amasses 4.7% of the company’s outstanding stock and is smaller than the 3.88 million-share holding Starboard disclosed in its last 13F filing. Starboard initiated a position in Four Corners Property Trust during the last quarter, when the company went public. The stock has inched up by 2.4% since

Another shareholder of Four Corners Property Trust is Dmitry Balyasny’s Balyasny Asset Management, which holds 630,548 shares, according to its last 13F filing.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name	Sole Voting Power	Shared Voting Power	Sole Dispositive Power	Shared Dispositive Power	Aggregate Amount Owned Power	Percent of Class
STARBOARD VALUE	2,807,814	2,807,814	2,807,814	0	2,807,814	4.7%
STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD	887,734	2,807,814	887,734	2,807,814	887,734	1.5%
STARBOARD VALUE AND OPPORTUNITY S	214,832	2,807,814	214,832	2,807,814	214,832	Less than 1%
STARBOARD VALUE AND OPPORTUNITY C	117,757		117,575	2,807,814	117,757	Less than 1%
STARBOARD VALUE R	117,757		117,757		117,757	Less than 1%
STARBOARD VALUE R GP	117,757		117,757		117,757	Less than 1%
STARBOARD LEADERS DELTA	1,280,353		1,280,353		1,280,353	2.1%
STARBOARD LEADERS FUND	1,280,353		1,280,353		1,280,353	2.1%
STARBOARD VALUE A	1,280,353		1,280,353		1,280,353	2.1%
STARBOARD VALUE A GP	1,280,353		1,280,353		1,280,353	2.1%
STARBOARD VALUE GP	2,807,814		2,807,814		2,807,814	4.7%
STARBOARD PRINCIPAL CO	2,807,814		2,807,814		2,807,814	4.7%
STARBOARD PRINCIPAL CO GP	2,807,814		2,807,814		2,807,814	4.7%
JEFFREY C. SMITH	1,597		1,597		2,807,814	4.7%
MARK R. MITCHELL					2,807,814	4.7%
PETER A. FELD					2,809,411	4.7%

Jeffrey Smith

Starboard Value LP

Page 1 of 26 SEC Filing

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

______________

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO

RULE 13d-2(a)

(Amendment No. 2)1

Four Corners Property Trust, Inc.

(Name of Issuer)

Common Stock, par value $0.0001 per share

(Title of Class of Securities)

35086T109

(CUSIP Number)

JEFFREY C. SMITH

STARBOARD VALUE LP

777 Third Avenue, 18th Floor

New York, New York 10017

(212) 845-7977

STEVE WOLOSKY, ESQ.

OLSHAN FROME WOLOSKY LLP

Park Avenue Tower

65 East 55th Street

New York, New York 10022

(212) 451-2300

(Name, Address and Telephone Number of Person

Authorized to Receive Notices and Communications)

March 14, 2016

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box o.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

(Continued on following pages)

1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

Follow Four Corners Property Trust Inc.Follow Four Corners Property Trust Inc.

Page 1 of 26

Next >>