Mabry Adam G 4

What Happened
Adam G. Mabry, Chief Investment Officer of Healthpeak Properties, received a total of 33,731 performance-based LTIP units on January 28, 2026: 2,156 LTIP Units (F1/F2) and 31,575 LTIP Units (F1/F3). These are derivative awards (coded "A" for award) with no purchase price listed (N/A) and no immediate dollar value reported in the filing.

Key Details

• Transaction date: January 28, 2026; Form 4 filed January 30, 2026 (appears timely).
• Transaction type/code: A = Grant/Award (performance-based LTIP Units).
• Units granted: 2,156 and 31,575 (total 33,731 LTIP Units). Price/value: N/A (derivative award).
• Shares/units owned after transaction: not specified in the filing.
• Footnotes of note:
  • F1: LTIP Units are profits‑interest membership units in Healthpeak OP that can convert into OP Units, which are redeemable for cash equal to one share of the issuer’s common stock or, at Healthpeak OP’s option, convertible one-for-one into shares. LTIP Units have no expiration.
  • F2: The 2,156 LTIP Units were from a Feb 15, 2023 grant and were determined by the Compensation Committee to be earned and vested in full on Jan 28, 2026.
  • F3: The 31,575 LTIP Units were from Feb 7, 2025 and May 1, 2025 grants; performance was certified on Jan 28, 2026 (earned), and these units vest in one‑third increments on each anniversary of Feb 7, 2025, subject to continued employment.

Context
These are performance-based compensation awards rather than open-market purchases or sales, so they reflect achievement of company performance metrics and compensation outcomes rather than a direct insider investment decision. Some of the awarded units vested immediately upon certification (F2), while others are earned now but will vest over time (F3), and, if converted to OP Units, may be redeemable for cash or convertible into common stock.