Mauldin Stephen H 4

What Happened Stephen H. Mauldin, Vice Chairman of the Board, President and CEO of CNL Healthcare Properties, disposed of 6,133 shares of CNL common stock as part of the company’s merger closing on March 10, 2026. Per the merger terms, each CNL share was converted into 0.1318 shares of Sonida Senior Living, Inc. (SNDA) plus cash in lieu of fractional shares, and an additional $2.32 per CNL share was paid on March 11. The filing values the consideration at $4.74 per CNL share, implying total consideration of roughly $29,070 for the 6,133 shares. This was a disposition in connection with an M&A transaction (not an open‑market sale).

Key Details

• Transaction date: March 10, 2026 (disposition to issuer under the Merger Agreement); additional cash payment on March 11, 2026.
• Consideration: 0.1318 SNDA shares per CNL share + cash in lieu of fractional shares (paid March 10) and $2.32 cash per CNL share (paid March 11); $4.74 total consideration per share.
• Shares disposed: 6,133; estimated SNDA shares received ≈ 808.3 (plus cash in lieu of any fractions).
• Estimated total consideration: ≈ $29,070.
• Shares owned after transaction: not specified in the Form 4.
• Filing timeliness: Form 4 filed March 11, 2026 (one day after the disposition date), consistent with timely reporting requirements.
• Footnotes: Disposition occurred pursuant to the Agreement and Plan of Merger dated Nov 4, 2025; consideration based on Closing VWAP for the 10‑day period ending March 6, 2026 and subject to the merger’s collar mechanism.

Context This transaction is a disposition tied to the company’s merger and is a corporate transaction rather than a voluntary open‑market sale by the insider. Such conversions in M&A commonly involve stock of the acquiring company plus cash and do not by themselves indicate the insider’s view of future company prospects.