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

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Page 23 of 26 SEC Filing
CUSIP NO. 35086T109
O.           Mr. Feld
 
(a)
As of the close of business on March 15, 2016, Mr. Feld directly owned 1,597 Shares.  Mr. Feld, as a member of Principal GP and as a member of each of the Management Committee of Starboard Value GP and the Management Committee of Principal GP, may be deemed the beneficial owner of the (i) 887,734 Shares owned by Starboard V&O Fund, (ii) 214,832 Shares owned by Starboard S LLC, (iii) 117,757 Shares owned by Starboard C LP, (iv) 1,280,353 Shares owned by Starboard Delta LLC and (v) 307,138 Shares held in the Starboard Value LP Account.
 
Percentage: Approximately 4.7%
 
(b)

1. Sole power to vote or direct vote: 1,597

2. Shared power to vote or direct vote: 2,807,814

3. Sole power to dispose or direct the disposition: 1,597

4. Shared power to dispose or direct the disposition: 2,807,814
 
(c)
Mr. Feld has not entered into any transactions in the Shares during the past sixty days.  The transactions in the Shares on behalf of each of Starboard V&O Fund, Starboard S LLC, Starboard C LP and Starboard Delta LLC and through the Starboard Value LP Account during the past sixty days are set forth in Schedule A and are incorporated herein by reference.
 Each Reporting Person, as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons.  Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
 
(d)
No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares.
 
(e)
As of March 14, 2016, the Reporting Persons ceased to be the beneficial owners of more than 5% of the outstanding Shares of the Issuer.

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