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

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
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).

 

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