American Healthcare REIT Appoints New CFO Aric Chang; Current CFO to Retire

What Happened
American Healthcare REIT, Inc. (AHR) filed an 8-K on September 2, 2026 announcing that Aric Chang will become Chief Financial Officer effective October 1, 2026. Current CFO Brian S. Peay notified the company of his retirement effective September 30, 2026 and will serve as a non-employee consultant through April 15, 2027 to support the transition. The company approved an employment letter for Mr. Chang and a transition and separation agreement with Mr. Peay.

Key Details

• Aric Chang (age 47) previously served as CFO, Real Estate at Public Storage and has held senior finance roles at multiple REITs and investment firms.
• Mr. Chang’s pay package: $500,000 annual base salary; target annual bonus equal to 100% of base (pro-rated for 2026); 2027 long-term incentive target grant date value of $1,000,000 (50% restricted stock units, 50% performance-based RSUs); $310,000 one-time cash inducement payable within 30 days of start.
• Brian Peay’s transition: retirement effective Sept 30, 2026; consultant through April 15, 2027. Under the Transition Agreement he will receive remaining 2026 base salary as consulting pay, a 2026 short-term incentive payout equal to 150% of his 2026 base salary, accelerated vesting of 18,159 restricted shares (granted Feb 9, 2024), continued vesting of outstanding equity awards during the consulting period, and a $45,000 COBRA reimbursement.
• The filings note Peay’s retirement is not due to any disagreement with the company; the employment and transition agreements are filed as exhibits (some terms redacted).

Why It Matters
AHR is replacing its CFO with an experienced REIT finance executive, which aims to preserve continuity in financial leadership. Investors should note near-term cash impacts: the company will incur a one-time sign-on payment to the new CFO, ongoing higher compensation commitments (base salary and incentive targets), and payments to the retiring CFO including an enhanced 2026 incentive payout and equity acceleration. The consulting arrangement is intended to smooth the handover and maintain operational continuity during the transition.