X0306 4 2015-05-15 0 0001507385 American Realty Capital Properties, Inc. ARCP 0001613504 FRANK BRUCE D C/O ARCP 2325 E. CAMELBACK ROAD, SUITE 1100 PHOENIX AZ 85016 1 0 0 0 Common Stock 2015-05-15 4 A 0 12049 9.13 A 16059 D Reflects deferred stock units awarded May 15, 2015 in respect of the annual equity retainer due to the Reporting Person for his service as an independent director. Such deferred stock units are subject to a holding period requirement ending upon the earlier of three years from the date of grant and the end of the Reporting Person's term of service as an independent director. Reflects the closing sale price as reported on the NASDAQ Global Select Market on May 15, 2015. /s/ Bruce D. Frank 2015-05-15