BABIN ANDREW T. 4

What Happened
Andrew T. Babin, Chief Financial Officer of National Healthcare Properties, Inc. (NHP), was granted a total of 191,095 long‑term incentive partnership units (LTIP Units) on 2026-04-30. The award consists of 149,428 LTIP Units and 41,667 LTIP Units, reported as derivative awards with an acquisition price of $0 (no cash paid). LTIP Units are convertible into equivalent National Healthcare Properties Operating Partnership, L.P. (OP) units, which can be redeemed for cash or, at the issuer’s election, converted one‑for‑one into company common stock (or the cash value).

Key Details

• Transaction date: 2026-04-30; Form 4 filed 2026-05-04 (4 days after the transaction date). Form 4s are generally due within two business days—investors may want to note the filing timing.
• Grant amounts/prices: 149,428 LTIP Units @ $0 and 41,667 LTIP Units @ $0 (total 191,095 units); reported value $0 on grant (derivative award).
• Vesting:
  • The 149,428 units vest 25% on each of the first four anniversaries of April 30, 2026 (subject to continued service).
  • The 41,667 units vest ratably on the first, second and third anniversaries of January 1, 2026 (subject to continued service).
• Unit mechanics: LTIP Units are a class of limited partnership units of the Operating Partnership, have no expiration dates, and are convertible to OP Units that are redeemable for cash or common stock (one‑for‑one) per footnotes.
• Shares/units owned after transaction: Not specified in the reported Form 4.

Context
This filing documents a compensation award (derivative LTIP units), not an open‑market purchase or sale. Such grants are common for executive compensation and reflect long‑term incentives tied to continued service and/or performance; they do not by themselves indicate immediate insider buying or selling of company common stock.