Costa Michael Lourenco 4

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.