COLDEN TRACY M J 4

What Happened

• Tracy M.J. Colden, a director of National Health Investors (NHI), exercised options to acquire 10,000 common shares on 2026-02-19 by paying $73.34 per share (total $733,400).
• To cover tax withholding/obligations, 8,267 of the acquired shares were surrendered/disposed at $88.72 per share (value $733,448). The reported derivative position of 10,000 shares was also converted/disposed at $0.00 as part of the exercise.
• Net result: Colden received 10,000 shares from the exercise and had 8,267 shares withheld, leaving a net issuance to her of 1,733 shares. This is an option exercise with share surrender for tax withholding (commonly a cashless exercise), not an open-market purchase or sale for cash.

Key Details

• Transaction date: February 19, 2026.
• Exercise: 10,000 shares acquired via option exercise at $73.34 each — total cash paid $733,400 (code M).
• Tax/payment withholding: 8,267 shares disposed at $88.72 each — value reported $733,448 (code F).
• Derivative conversion: 10,000 derivative securities reported disposed at $0.00 (code M) reflecting conversion of the options.
• Shares owned after the transaction: not provided in the supplied data.
• Filing timeliness: no late-filing indicator provided in the supplied information.

Context

• This was an options exercise with shares withheld to satisfy tax obligations (a routine, cashless-style exercise). Such transactions are administrative and do not necessarily signal a change in the insider’s market view.
• For retail investors, purchases (outsider cash purchases) tend to be more informative as bullish signals; exercises with share withholding are common and often motivated by tax and vesting mechanics rather than trading intent.