Form 4: Healthpeak CFO Earns 70,227 Performance-Based LTIP Units

Healthpeak Properties' CFO, Kelvin O. Moses, earned 70,227 performance-based LTIP Units after the satisfaction of applicable performance conditions.

Summary

• Kelvin O. Moses, Chief Financial Officer of Healthpeak Properties, Inc., earned a total of 70,227 performance-based LTIP Units.
• These units represent membership interests in Healthpeak OP, LLC, the operating subsidiary, and are intended to qualify as profits interests for U.S. federal income tax purposes.
• The performance conditions for these awards were determined to have been satisfied by the Issuer's Compensation and Human Capital Committee on January 28, 2026.
• The LTIP Units are convertible into common unit membership interests (OP Units) upon achieving equivalent capital account balance and meeting vesting conditions.
• OP Units are redeemable for cash equal to the fair market value of one share of the Issuer's Common Stock or convertible to shares of Common Stock on a one-for-one basis.
• 33,462 LTIP Units, granted on February 7, 2025, and May 1, 2025, will vest in one-third increments on the first, second, and third anniversaries of February 7, 2025.
• 36,765 LTIP Units, granted on March 3, 2025, will vest in one-fifth increments on the second, third, fourth, fifth, and sixth anniversaries of March 3, 2025.
• Vesting is subject to continued employment through the applicable vesting dates.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a positive development, as the satisfaction of performance conditions for executive compensation typically signals that the company has met its internal targets, which is generally favorable for overall company performance.

Positives

• The satisfaction of performance conditions for 70,227 LTIP Units indicates that specific company performance targets were met.
• The earning of these units aligns the Chief Financial Officer's interests with long-term shareholder value creation.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that performance-based equity awards like LTIP Units are a common practice in executive compensation across the REIT sector, designed to incentivize long-term performance and align management interests with shareholder returns. The satisfaction of performance conditions for these units suggests the company met specific operational or financial goals set by its compensation committee.

Comparison to Industry Standards

• Executive compensation structures, particularly those involving performance-based equity like LTIP Units, are standard across the real estate investment trust (REIT) industry.
• Companies such as Prologis (PLD), Public Storage (PSA), and Digital Realty Trust (DLR) frequently utilize similar long-term incentive plans to reward executives for achieving strategic and financial milestones, ensuring alignment with shareholder value.
• The vesting schedules and performance criteria are typically tailored to the company's specific business model and market conditions, reflecting a common approach to executive retention and motivation.

Related Party Transactions

• The transaction involves the grant of performance-based LTIP Units to Kelvin O. Moses, the Chief Financial Officer, which is a standard form of compensation between the company and an executive officer.

Stakeholder Impact

• Shareholders: Potentially positive signal that company performance targets were met, aligning executive incentives with shareholder interests.
• Employees: Demonstrates the company's commitment to performance-based compensation for key executives.
• Executive (Kelvin O. Moses): Direct financial benefit through earned equity awards, subject to vesting.

Next Steps

• Vesting of 33,462 LTIP Units in one-third increments on the first, second, and third anniversaries of February 7, 2025.
• Vesting of 36,765 LTIP Units in one-fifth increments on the second, third, fourth, fifth, and sixth anniversaries of March 3, 2025.
• Continued employment of the reporting person through applicable vesting dates.

Key Dates

Keywords

Healthpeak Properties, DOC, Kelvin O. Moses, CFO, LTIP Units, Performance-based compensation, Insider transaction, SEC Form 4, Executive compensation, Beneficial ownership