Costa Michael Lourenco 4
4 · Sabra Health Care REIT, Inc. · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
Sabra (SBRA) CFO Michael Lourenco Receives Award of 22,848 Shares
What Happened
Michael Lourenco, Executive Vice President, Chief Financial Officer & Treasurer of Sabra Health Care REIT (SBRA), had 22,848 stock units vest on Feb 10, 2026. The Form 4 records this as an award/acquisition at $0.00 (no cash paid). The units are FFO-based performance units granted under the Issuer’s 2009 Performance Incentive Plan and will be settled one-for-one in Sabra common shares on January 4, 2027 (or earlier upon death, disability or change of control). The Compensation Committee determined the award paid out at 90.8% of target; the vested amount includes 4,803 shares attributable to dividend equivalents.
Key Details
- Transaction date: 2026-02-10; Filing date (Accession): 2026-02-12 (timely filing).
- Transaction type/price: Award/vesting (Code A) — 22,848 units @ $0.00 (no cash consideration).
- Settlement/payment: Vested units will be paid in shares on 2027-01-04 (one-for-one), subject to early payment triggers.
- Holdings note: Filing indicates holdings include 274,410 stock units that, upon settlement, will convert one-for-one into shares (see footnote).
- Footnotes: F1 explains the units were FFO-based units for the 2025 performance period and includes 4,803 dividend-equivalent shares; F2 notes 274,410 stock units included in holdings.
- Timeliness: Filed within the standard Form 4 window (not marked late).
Context: This was a vesting/award event tied to Sabra’s funds-from-operations performance, not an open-market buy or sale. Awards like this are compensation realization (not a directional trade) — they indicate reward for achieved metrics rather than an insider expressing a buy/sell sentiment.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-10+22,848→ 457,516 total
- 784(indirect: By IRA)
Common Stock
- 207(indirect: By Spouse)
Common Stock
Footnotes (2)
- [F1]Represents the vesting of stock units granted under the Issuer's 2009 Performance Incentive Plan subject to a funds from operations-based stock unit ("FFO units") award granted on December 27, 2022, including 4,803 shares with respect to dividend equivalent payments calculated based on the market value of the Issuer's Common Stock on the applicable dividend date. The Compensation Committee determined on February 10, 2026 that the number of FFO units earned was 90.8% of the target. Upon this determination, the FFO units vested immediately. Each FFO unit represented a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's achievement of a funds from operations target for a performance period beginning January 1, 2025 and ending December 31, 2025. The vested units will be paid on a one-for-one basis in shares of the Issuer's Common Stock on January 4, 2027, subject to earlier payment in the event of death, disability or change of control.
- [F2]Includes 274,410 stock units that, upon settlement, will be paid on a one-for-one basis in shares of the Issuer's Common Stock.