Form 4: LTC Properties Director Jeffrey Hawken Receives Restricted Stock Grant

LTC Properties Inc. Director Jeffrey C. Hawken was granted 3,125 shares of common stock as a restricted stock award on May 28, 2025, valued at $35.20 per share.

Summary

• Jeffrey C. Hawken, a Director of LTC Properties Inc. (LTC), acquired 3,125 shares of common stock.
• The transaction occurred on May 28, 2025.
• The shares were acquired as a restricted stock grant at a price of $35.20 per share.
• These shares will vest upon the earlier of the one-year anniversary of the award date or the date of the next annual meeting of stockholders.
• Following this transaction, Mr. Hawken directly beneficially owns 3,125 shares of LTC common stock.

Sentiment

Score: 7

Explanation: The grant of restricted stock to a director is a positive sign of alignment between management and shareholder interests, as the director's compensation is tied to the company's stock performance. It's a routine compensation event, not indicative of extraordinary positive or negative news.

Positives

• The grant of restricted stock to a director aligns the director's interests with those of shareholders, as the value of the grant is tied to the company's stock performance.
• The acquisition of shares by an insider can be viewed as a sign of confidence in the company's future prospects.

Risks

• The value of the restricted stock grant is subject to market fluctuations of LTC Properties Inc. common stock.
• Vesting conditions mean the shares are not immediately liquid and their full value is contingent on continued service or company performance until vesting.

Future Outlook

The restricted stock grant to Director Jeffrey C. Hawken is subject to future vesting conditions, specifically upon the earlier of the one-year anniversary of the award date or the date of the next annual meeting of stockholders.

Industry Context

This restricted stock grant is a common form of executive and director compensation within the real estate investment trust (REIT) sector, designed to align the interests of the director with long-term shareholder value creation. It reflects standard corporate governance practices for incentivizing leadership.

Comparison to Industry Standards

• The practice of granting restricted stock to directors is a widely accepted compensation method across various industries, including healthcare REITs.
• While specific grant sizes vary based on company size, director responsibilities, and overall compensation philosophy, this type of equity award is consistent with compensation structures observed in comparable healthcare REITs such as Ventas (VTR), Welltower (WELL), and Omega Healthcare Investors (OHI), which also utilize equity-based incentives to retain and motivate their board members.

Corporate Governance

Stakeholder Impact

• Shareholders: Potential positive impact due to increased alignment of director's interests with shareholder value.

Next Steps

• The shares granted to Jeffrey C. Hawken will vest upon the earlier of the one-year anniversary of the award date (May 28, 2026) or the date of the next annual meeting of stockholders.

Key Dates

Recommendation

Keywords

LTC Properties, LTC, Jeffrey C. Hawken, Form 4, SEC filing, insider trading, restricted stock, stock grant, director compensation, beneficial ownership, real estate investment trust, REIT