Form 4: LTC Properties EVP & CIO Receives Restricted Stock Grant

LTC Properties' EVP & CIO, David M. Boitano, was granted 10,534 shares of common stock as a restricted stock award, vesting over three years.

Summary

• David M. Boitano, Executive Vice President and Chief Investment Officer (EVP & CIO) of LTC Properties Inc. (LTC), was granted 10,534 shares of common stock.
• The transaction occurred on February 19, 2026, with the shares valued at $38.92 per share at the time of the grant.
• The total value of the restricted stock grant is approximately $409,900.88.
• These shares are a restricted stock grant and will vest equally over three years, contingent upon Mr. Boitano's continued employment at each vesting date.
• Following this transaction, Mr. Boitano beneficially owns 36,160 shares of common stock.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive development, as restricted stock grants are a standard and effective mechanism to align executive interests with long-term shareholder value and promote retention.

Positives

• The restricted stock grant aligns the executive's financial interests with the long-term performance and shareholder value of LTC Properties.
• It serves as an incentive for executive retention, as vesting is contingent on continued employment over three years.

Negatives

• The grant represents a minor dilution to existing shareholders, though common for executive compensation.
• The executive does not receive immediate liquidity from these shares due to the vesting schedule.

Future Outlook

The granted restricted shares will vest equally over a three-year period, contingent on the reporting person's continued employment with LTC Properties Inc. at each vesting date.

Industry Context

StockSavvy.ai notes that restricted stock grants are a standard component of executive compensation packages across various industries, including Real Estate Investment Trusts (REITs). This practice is widely adopted to incentivize long-term performance, align management interests with shareholder returns, and promote executive retention.

Comparison to Industry Standards

• Restricted stock grants are a common form of executive compensation in the REIT sector, similar to practices seen in companies like Ventas, Inc. (VTR) or Welltower Inc. (WELL), which frequently utilize equity awards to incentivize their leadership.
• The three-year vesting schedule is typical for such grants, providing a balance between immediate reward and long-term commitment, comparable to vesting schedules observed in other publicly traded companies for similar executive roles.

Stakeholder Impact

• Shareholders: Experience minor dilution from the issuance of new shares but benefit from increased alignment of executive interests with long-term company performance.
• Employees (David M. Boitano): Receives a significant equity award, enhancing long-term compensation and incentivizing continued service.

Next Steps

• The restricted shares will vest equally over the next three years, subject to continued employment.

Key Dates

Keywords

LTC Properties, LTC, insider transaction, Form 4, restricted stock, stock grant, executive compensation, David M. Boitano, EVP & CIO