PASCOE KEVIN CARLTON 4

What Happened

• Kevin Carlton Pascoe, Chief Investment Officer of National Health Investors (NHI), exercised 15,000 stock options on 2026-02-11 at an exercise price of $73.34 per share, for a cash cost of $1,100,100 (code M — option exercise, acquired).
• On the same date he had 13,463 shares disposed at $88.25 per share to pay the exercise price/tax liability, generating proceeds of $1,188,110 (code F — payment of exercise price or tax liability). The filing also shows a derivative conversion line for 15,000 shares at $0.00 (reported as disposed), reflecting the mechanics of the exercise/reporting.

Key Details

• Transaction date: 2026-02-11; Form 4 filed: 2026-02-13 (filed timely).
• Option exercise: 15,000 shares acquired at $73.34 each = $1,100,100.
• Withholding/sale for taxes/payment: 13,463 shares disposed at $88.25 each = $1,188,110.
• Additional derivative line: 15,000 shares reported disposed at $0.00 (reporting detail related to the conversion/exercise).
• Shares owned after the transactions: not specified in the data provided.
• Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (shares withheld/sold).

Context

• This is an option exercise combined with a routine withholding/sale to cover taxes or the exercise cost (commonly a cashless or net exercise mechanism). Such withholding/sales are standard administrative actions and not necessarily a directional bet on the stock.
• The exercise (acquisition) is often viewed as a sign of continued participation in equity compensation; the simultaneous withholding/sale is a common tax/settlement step.