Form 4: Director Michael Foster Boosts SBRA Stock Units

Sabra Health Care REIT Director Michael J. Foster acquired 808 common stock units through dividend equivalent payments, increasing his direct beneficial ownership.

Summary

• Michael J. Foster, a Director of Sabra Health Care REIT, Inc. (SBRA), acquired 808 common stock units on November 28, 2025.
• These units were credited as dividend equivalent payments on stock units previously granted to the reporting person under the Issuer's 2009 Performance Incentive Plan.
• The acquired units will vest and become payable on the same terms as the original stock units to which they relate.
• Following this transaction, Foster directly beneficially owns 73,938 common stock units, which includes 4,921 unvested stock units and 48,497 stock units that have vested but payment has been deferred.
• He also indirectly beneficially owns 42,411.745 common stock units through a 401(k) Plan.

Sentiment

Score: 7

Explanation: The acquisition of stock units through dividend equivalent payments by a director is generally a positive signal, indicating continued investment and alignment with shareholder interests, though it's a routine transaction rather than a direct market purchase.

Positives

• Director Michael J. Foster increased his direct beneficial ownership by 808 common stock units, aligning his interests further with shareholders.
• The acquisition was through dividend equivalent payments, indicating ongoing returns on existing equity holdings for the director.

Future Outlook

The acquired stock units will vest and become payable on the same terms as the original stock units to which they relate, indicating future potential share distribution upon vesting.

Industry Context

This Form 4 filing reflects a routine insider transaction for a director of a healthcare REIT. Such transactions, particularly those involving dividend reinvestment or equivalent payments, are common in the industry and generally indicate a director's continued alignment with shareholder interests and confidence in the company's long-term performance.

Comparison to Industry Standards

• NA

Related Party Transactions

• Acquisition of 808 common stock units by Director Michael J. Foster as dividend equivalent payments on previously granted stock units.

Stakeholder Impact

• Shareholders: Director's increased beneficial ownership aligns interests, potentially signaling confidence in the company's future.

Next Steps

• The acquired stock units will vest according to the terms of the original stock units.
• Payment of vested stock units will occur as per the terms of the Issuer's 2009 Performance Incentive Plan.

Key Dates

Recommendation

This Form 4 reports a routine acquisition of stock units by a director through dividend equivalent payments, rather than a direct market purchase. While it indicates continued alignment of interests, it does not provide new fundamental information to alter an investment thesis, thus a 'hold' recommendation is appropriate based solely on this filing.

Keywords

Sabra Health Care REIT, SBRA, Form 4, Insider Transaction, Director Stock Acquisition, Dividend Equivalent Units, Stock Units, Beneficial Ownership, Michael J. Foster