BACON KENNETH J 4

What Happened
Kenneth J. Bacon, a director of Welltower Inc. (WELL), was granted two awards on February 26, 2026: 1,056 LTIP Units (a profits‑interest award in Welltower OP LLC) and 1,056 Other Stock Units under the 2022 Long‑Term Incentive Plan. No cash was paid and no per‑share price is reported (N/A). These are derivative awards; the LTIP Units are scheduled to vest on February 26, 2027 (subject to continued service) and can convert into OP Units and ultimately be exchanged for Welltower common shares or cash if certain tax allocation conditions are met.

Key Details

• Transaction date: 2026-02-26; Form 4 filed 2026-02-27 (timely).
• Awards: 1,056 LTIP Units (F1) and 1,056 Other Stock Units (F2); total granted = 2,112 units.
• Price: N/A (awarded without cash consideration).
• Shares owned after transaction: not specified in the reported data.
• Footnotes: F1 describes LTIP Units (profits interests, vest 2/26/2027, convertible to OP Units and exchangeable for common stock/cash upon satisfaction of tax allocation conditions). F2 explains Other Stock Units are reserved solely to satisfy any future exchange of OP Units for common shares and will be canceled if unused.

Context
These awards are compensation/long‑term incentive grants, not open‑market purchases or sales, and typically represent deferred/conditional equity rather than immediate share ownership. The LTIP Units vest one year from grant (subject to service) before becoming convertible and exchangeable into common stock or cash.