PARK AILIN SEE 4

What Happened

• Ailin See, Chief Accounting Officer of National Healthcare Properties, received two awards of LTIP (long-term incentive plan) units on April 30, 2026: 25,000 units and 5,209 units, for a total of 30,209 units. Each grant was reported as an award/acquisition at $0.00 (i.e., no cash was paid). These LTIP units are derivative interests (limited partnership units) rather than common stock.

Key Details

• Transaction date: April 30, 2026; Form 4 filed May 4, 2026 (filed within the standard two-business-day reporting window).
• Price: $0.00 per unit (award/grant).
• Shares/units owned after transaction: not specified in the provided filing.
• Footnotes / important mechanics:
  • LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P. (OP Units).
  • The Issuer can convert LTIP Units into an equivalent number of OP Units; OP Units are redeemable for cash or, at the Issuer’s election, for shares of the Issuer on a one-for-one basis (or the cash value). LTIP Units do not expire.
  • Vesting: the 25,000-unit grant vests 25% on each of the first four anniversaries of the April 30, 2026 grant date; the 5,209-unit grant vests ratably on the first, second and third anniversaries of January 1, 2026 (both subject to continued service).
• Transaction code: A = award/grant (derivative).

Context

• These LTIP units are compensation awards (derivative partnership units convertible/redeemable into OP Units or Issuer shares) and not an open-market purchase or sale. Such awards are common for executive compensation; they represent future economic interest subject to vesting and conversion mechanics rather than an immediate cash investment.