Dodson Vicki L 4

What Happened
Vicki L. Dodson, Senior Vice President Patient Services of National Healthcare Corp (NHC), exercised 4,500 stock options on 2026-03-04. The options were exercised at $90.62 per share (total exercise amount $407,790). To cover the exercise price and tax withholding, the company withheld 3,159 of the acquired shares at a market value of $172.83 per share (value $545,970), resulting in a net issuance to Dodson of 1,341 shares. The exercise converted the derivative/options into common shares (the derivative position was cancelled).

Key Details

• Transaction date: March 4, 2026; Form filed March 6, 2026.
• Exercise: 4,500 shares at $90.62 (total $407,790).
• Withholding/tax disposition: 3,159 shares withheld at $172.83 (value $545,970).
• Net shares received: 1,341 (4,500 acquired − 3,159 withheld).
• Footnotes: Options were granted under the 2020 Omnibus Equity Incentive Plan on Feb 24, 2025 and the grant/exercise is exempt from Section 16(b) per Rule 16b-3(d) (F1). Shares were withheld to pay the exercise price and withholding taxes (F2). Total beneficial ownership after these transactions is reported on the form (F3).
• Transaction codes: M = option exercise; F = payment of exercise price/tax withholding. Filing appears timely (reporting period 2026-03-04; filing dated 2026-03-06).

Context
This was an option exercise with a cashless/net settlement element (shares withheld to cover costs), not an open-market sale. The withholding of shares to satisfy exercise price/taxes is a common administrative step and does not necessarily signal a market view. The key takeaway for investors is that Dodson ended with a net increase of 1,341 shares after the exercise and withholding.