Penn Buddie J 4

4 · National Healthcare Properties, Inc. · Filed May 4, 2026

AI-generated summary of this filing

Updated May 5, 2026

NHP Director Penn Buddie Receives 12,500 LTIP Units

What Happened

Penn Buddie, a director of National Healthcare Properties, Inc. (NHP), received a grant of 12,500 LTIP units on April 30, 2026. The Form 4 reports the award as a derivative grant (code A) with an acquisition price of $0.00; no immediate cash value is recorded in the filing.
These LTIP units are not common shares today — they are a class of limited partnership units that can convert into OP Units and ultimately be redeemed for cash or, at the issuer’s election, exchanged one-for-one for common stock upon vesting.

Key Details

Transaction date: 2026-04-30; Filing date: 2026-05-04 (filed within the 2-business-day window).
Award: 12,500 LTIP Units; reported acquisition price $0.00 (derivative award).
Shares/units owned after transaction: Not specified in the provided extract of the filing.
Footnotes of note:
- F1: LTIP Units are convertible into OP Units and OP Units are redeemable for cash or, at the issuer’s election, one-for-one for common stock; LTIP Units have no expiration.
- F2: Vesting: 25% on each of the first four anniversaries of the 4/30/2026 grant, subject to continued service.
- F3: LTIP Units are a class of limited partnership units of the Operating Partnership (National Healthcare Properties Operating Partnership, L.P.).
Transaction code: A = Award/Grant (derivative).

Context

This was a compensation award, not an open-market purchase or sale. Such grants are common for directors and are subject to vesting; they do not represent immediate share ownership or a direct cash transaction.
Because vesting occurs over four years, the economic benefit and any conversion to common stock (or cash) depends on future vesting and conversion/redemption events.

Form 4

Period: 2026-04-30

Director

Transactions

Award
LTIP Units
[F1][F2][F3]
2026-04-30+12,500→ 12,500 total
→ Common Stock (12,500 underlying)

Holdings

Footnotes (3)

[F1]Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by National Healthcare Properties, Inc. (the "Issuer") into an equivalent number of units of National Healthcare Properties Operating Partnership, L.P. ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates.
[F2]The LTIP Units will vest in 25% increments on each of the first four anniversaries of the April 30, 2026 grant date, subject to the recipient's continued service through the applicable vesting date.
[F3]The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P.

Signature

/s/ Jie Chai, Attorney-in-Fact|2026-05-04

1 file