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HEALTHPEAK PROPERTIES, INC.·4

Jan 30, 5:17 PM ET

Johnston Shawn G 4

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Healthpeak (DOC) EVP Shawn Johnston Receives LTIP Award

What Happened
Shawn G. Johnston, Executive Vice President and Chief Accounting Officer of Healthpeak Properties, was awarded a total of 16,660 LTIP Units (long-term incentive/profits interests) on January 28, 2026. The filing shows two award entries: 1,198 LTIP Units (from a Feb 15, 2023 grant that vested on the determination date) and 15,462 LTIP Units (earned from grants made Feb 7, 2025 and May 1, 2025). These are derivative, performance-based awards (transaction code A); no per-share price is reported because these are units, not open-market share purchases or sales.

Key Details

  • Transaction date: January 28, 2026 (reported on Form 4 filed Jan 30, 2026). Filing appears timely (reported two days after the transaction date).
  • Award totals: 1,198 LTIP Units (from 2/15/2023 grant) + 15,462 LTIP Units (from 2/7/2025 & 5/1/2025 grants) = 16,660 LTIP Units.
  • Price: N/A (derivative/award). These are not open-market purchases or sales.
  • Shares owned after transaction: Not specified in the provided excerpt of the filing.
  • Footnotes of note:
    • F1: LTIP Units are profits interests in Healthpeak OP, LLC; intended to qualify as profits interests for U.S. tax purposes; convertible at holder election into OP Units, which are redeemable for cash equal to the fair market value of one share of Healthpeak common stock or convertible into shares on a one-for-one basis. No expiration date.
    • F2: 1,198 LTIP Units were earned from a Feb 15, 2023 grant and vested in full on Jan 28, 2026 (Determination Date).
    • F3: 15,462 LTIP Units were earned from Feb 7, 2025 and May 1, 2025 grants; the performance condition was satisfied on Jan 28, 2026, but these LTIP Units vest in one‑third increments on each of the first, second and third anniversaries of Feb 7, 2025, subject to continued employment.

Context
These are performance-based LTIP awards (derivative units), not purchases or sales. They represent potential future economic value tied to Healthpeak OP membership interests and conversion mechanics rather than immediate stock purchases. Because some units (from 2025 grants) are earned but subject to future time-based vesting, they do not all convert to OP Units or shares immediately. Such awards are common executive compensation and do not by themselves indicate a buy or sell signal in the open market.