Form 4: Diversified Healthcare Trust Director Adam D. Portnoy Reports Tax Liability Transaction

Director Adam D. Portnoy reports a transaction involving the withholding of shares to cover tax liabilities related to vesting securities.

Summary

• On September 17, 2024, Adam D. Portnoy, a director of Diversified Healthcare Trust, reported a transaction on Form 4.
• The transaction involved the withholding of 6,570 common shares of beneficial interest at a price of $3.68 per share to cover tax liabilities.
• Following the transaction, Mr. Portnoy directly owns 319,466.55 common shares.
• Mr. Portnoy may be deemed the beneficial owner of 23,250,019 shares held by ABP Trust, where he serves as the sole trustee, officer, and controlling shareholder, but he disclaims beneficial ownership except to the extent of his pecuniary interest.
• The transaction was related to the vesting of a security issued in accordance with Rule 16b-3.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of a routine transaction related to tax obligations. It doesn't inherently indicate positive or negative sentiment.

Management Comments

• Mr. Portnoy disclaims beneficial ownership of the shares held by ABP Trust except to the extent of his pecuniary interest therein.

Industry Context

This is a routine disclosure related to insider transactions and tax obligations, common for directors and officers of publicly traded companies.

Key Dates