NHC Director David R. Gifford Exercises 1,021 Stock Options

What Happened
David R. Gifford, a director of National Healthcare Corp (NHC), exercised 1,021 stock options on 2026-08-13 to acquire 1,021 shares at an exercise price of $171.42 per share, for a total cash outlay of $175,020. The filing also reports a matching disposition of 1,021 shares at $0 labeled as a "Derivative" conversion; this reflects the conversion/surrendering of the derivative instrument reported alongside the exercise (not an open-market sale for cash).

Key Details

• Transaction date: 2026-08-13. Transaction code: M (option exercise).
• Acquired: 1,021 shares at $171.42 per share; total amount paid $175,020.
• Disposed: 1,021 shares at $0 (reported as a derivative conversion in the same filing).
• Footnote: Options were granted under the 2020 Omnibus Equity Incentive Plan on May 7, 2026; grant and exercise are exempt from Section 16(b) under Rule 16b-3(d).
• Shares owned after the transaction: not specified in the provided filing summary.
• No late filing flag noted in the provided information.

Context
This was an exercise of stock options (code M). The filing’s $0 disposal entry does not indicate an open-market sale; it typically reflects conversion/surrendering of the derivative in connection with the exercise (e.g., net settlement or conversion mechanics), per the filing. Exercises are common insider transactions tied to compensation and do not by themselves prove a change in the director’s market outlook.