Form 4: Sabra Health Care CFO Vests Performance Stock Units

Sabra Health Care REIT's Executive VP, CFO & Treasurer, Michael Lourenco Costa, vested 22,848 performance-based stock units, including dividend equivalents, reflecting 90.8% achievement of a funds from operations target.

Summary

• Michael Lourenco Costa, Executive VP, CFO & Treasurer of Sabra Health Care REIT, Inc. (SBRA), acquired 22,848 shares of common stock.
• The acquisition resulted from the vesting of stock units granted under the Issuer's 2009 Performance Incentive Plan, specifically FFO units awarded on December 27, 2022.
• The Compensation Committee determined on February 10, 2026, that 90.8% of the target FFO units were earned for the performance period from January 1, 2025, to December 31, 2025.
• The vested units include 4,803 shares attributed to dividend equivalent payments.
• The vested shares will be paid on a one-for-one basis in shares of the Issuer's Common Stock on January 4, 2027, subject to earlier payment in specific events.
• Following this transaction, Mr. Costa beneficially owns 457,516 shares directly, 784 shares indirectly through his IRA, and 207 shares indirectly through his spouse's IRA.
• The direct beneficial ownership includes 274,410 stock units that will be paid in shares of Common Stock upon settlement.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, primarily for the executive, as it represents earned compensation. For the company, it's a neutral to slightly positive signal, indicating the achievement of a significant portion of its FFO performance target.

Positives

• The vesting of 22,848 shares represents a significant compensation event for the Executive VP, CFO & Treasurer, Michael Lourenco Costa.
• The achievement of 90.8% of the funds from operations (FFO) target for the performance period indicates strong operational performance by Sabra Health Care REIT, Inc. against its internal goals.

Future Outlook

The vested stock units are scheduled to be paid out on January 4, 2027, in shares of Sabra Health Care REIT's Common Stock, unless an earlier payment event such as death, disability, or change of control occurs.

Industry Context

StockSavvy.ai notes that this Form 4 filing details a routine executive compensation event, specifically the vesting of performance-based stock units. Such filings are common across publicly traded companies as part of their long-term incentive plans, aligning executive interests with shareholder value through performance metrics like Funds From Operations (FFO) in the REIT sector.

Comparison to Industry Standards

• Not directly applicable as this Form 4 filing reports an individual executive's compensation vesting, not company-wide financial performance or project results that would typically be benchmarked against specific industry peers or projects.

Stakeholder Impact

• Shareholders: Experience minor, expected dilution from the issuance of new shares as part of executive compensation.
• Executive (Michael Lourenco Costa): Directly benefits from the vesting of 22,848 shares, enhancing personal equity in the company.

Next Steps

• Payment of the vested 22,848 shares of Common Stock to Michael Lourenco Costa on January 4, 2027.

Key Dates

Keywords

Sabra Health Care REIT, SBRA, Form 4, Insider Transaction, Executive Compensation, Stock Vesting, CFO, FFO Units, Performance Incentive Plan