FLATT BEN ANDERSON SR 4

What Happened
Ben Flatt (Senior VP & CIO of National Healthcare Corp, ticker NHC) exercised 3,734 stock options on 2026-04-09 at an exercise price of $53.94, resulting in $201,412 in exercise cost. To cover the exercise price and withholding taxes, 1,909 of the newly issued shares were withheld/disposed at a market value of $176.81 each (total ~ $337,530). The option award corresponding to the exercised options was reported converted (derivative reported disposed @ $0.00). Net shares retained from this transaction: 3,734 − 1,909 = 1,825 shares.

Key Details

• Transaction date: April 9, 2026 (Form 4 filed April 13, 2026 — timely).
• Option exercise: 3,734 shares acquired at $53.94 each; total exercise cost $201,412.
• Tax/Exercise withholding: 1,909 shares withheld/disposed at $176.81 each; total value ~$337,530.
• Net shares added to Flatt’s holdings from this event: 1,825 shares.
• Footnotes: F1 — options granted under the 2020 Omnibus Equity Incentive Plan on 3/8/2023 and exempt from Section 16(b) per Rule 16b-3(d); F2 — shares were withheld to pay the exercise price and tax withholding obligations; F3 — the form reports total beneficially owned shares after the transactions (amount not shown in this summary).
• Filing timeliness: Filed on Apr 13, 2026 for an Apr 9 transaction; this filing appears timely under the two-business-day SEC requirement.

Context
This was an option exercise with net settlement (a cashless-style result): options were converted into shares, and a portion of those shares were withheld to satisfy exercise price and tax withholding. Such withholding is a routine administrative step and does not necessarily indicate a change in the insider’s view of the company. The Rule 16b-3(d) exemption noted in the filing means the grant and exercise are treated as compliant with short-swing profit rules. For the exact post-transaction beneficial ownership number, consult the full Form 4 (footnote F3).