Tuppeny Elizabeth K. 4

What Happened

• Director Elizabeth K. Tuppeny received a grant of 12,500 LTIP units (derivative award) on 2026-04-30. The grant is reported as an award (Form 4 code A) with a $0.00 acquisition price — this is a compensation award, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-30; Filing date: 2026-05-04 (timely — filed by the second business day after the transaction).
• Grant size and price: 12,500 LTIP units granted, $0.00 per unit (no cash paid).
• Shares owned after transaction: Not specified in this filing.
• Important footnotes:
  • The LTIP units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P. (OP Units). (F3)
  • Upon vesting and certain events, LTIP units are convertible by the issuer into an equivalent number of OP Units; OP Units are redeemable for cash or, at the issuer’s election, for one share of NHP common stock (or cash value) on a one-for-one basis. LTIP units have no expiration. (F1)
  • Vesting schedule: 25% vests on each of the first four anniversaries of the 4/30/2026 grant date, subject to continued service. (F2)

Context

• This was a typical director compensation award (not an option exercise or sale). Because the units vest over four years and convert to partnership units that can be redeemed for shares or cash, the economic exposure is derivative and contingent on vesting/conversion rather than an immediate share purchase.