Gundlach Andrew 4

What Happened
Andrew Gundlach, a director of Welltower Inc., received two awards on February 26, 2026: 1,787 LTIP Units each (totaling 3,574 LTIP Units). The awards were granted without cash consideration and are reported as derivative awards (price/value listed as N/A). These are grants under Welltower’s long-term incentive arrangements rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-02-26 (reported on Form 4 filed 2026-02-27). Transaction code: A (award/grant).
• Quantity: Two awards of 1,787 LTIP Units each = 3,574 LTIP Units total. Price/value: N/A (awarded without cash consideration).
• Vesting: LTIP Units are scheduled to vest on February 26, 2027, subject to continued service.
• Conversion/exchange: LTIP Units are intended to convert (if vesting and tax conditions met) into Class A common units of Welltower OP, which may then be exchanged for Welltower common shares or equivalent cash.
• Other Stock Units: Gundlach also received Other Stock Units reserved solely to satisfy any future exchange of OP Units for common shares; any remaining Other Stock Units after exchanges will be canceled.
• Shares owned after transaction: Not disclosed in the filing.
• Filing timeliness: Filed one day after the transaction date (not flagged as late).

Context
These LTIP Units are long-term, performance/service-contingent compensation tied to the company’s operating partnership structure; they do not represent immediate common-share ownership and will only convert to OP units and potentially common shares if vesting and tax-allocation conditions are met. Such awards are routine for directors as part of incentive plans and are informational rather than a direct buy/sell signal.