SHELLEY-KESSLER PAMELA 4

What Happened
Pamela Shelley-Kessler, Co-President and Co-CEO of LTC Properties (LTC), had 33,226 performance-based stock units vest on March 9, 2026 (award value $1,318,408 at $39.68/share). To cover tax withholding on the vesting, 15,726 shares were surrendered (disposed) at the same price, representing ~$624,008. Net shares retained after withholding: 17,500 (approx. $694,400).

Key Details

• Transaction dates and prices: 2026-03-09 — Award/Acquisition (A) 33,226 shares @ $39.68; Tax withholding/Disposition (F) 15,726 shares @ $39.68.
• Transaction values: Award ≈ $1,318,408; Withheld for taxes ≈ $624,008; Net value retained ≈ $694,400.
• Shares owned after transaction: not specified in the Form 4 provided.
• Footnotes: F1 = Vesting of Performance Based Stock Unit Award; F2 = Represents tax withholding on vesting of previously reported Performance Based Stock Unit Award.
• Filing timeliness: Reported on 2026-03-10 for a 2026-03-09 transaction — appears to be filed promptly (normal Form 4 timing).

Context
This was a vesting of performance-based restricted stock units (an award), not an open-market purchase. The disposition coded F indicates shares were surrendered/withheld to satisfy tax withholding obligations (a routine administrative step), not necessarily an active sale indicating a change in sentiment. Net shares retained reflect the actual increase in her stock holdings from the vesting event.