Form 4: Sabra Health Care Executive VP Vests 7,996 Shares

Sabra Health Care REIT's Executive VP & CAO, Jessica Flores, acquired 7,996 shares of common stock through the vesting of performance-based units, reflecting 200% achievement of target goals.

Summary

• Jessica Flores, Executive VP & CAO of Sabra Health Care REIT, Inc. (SBRA), acquired 7,996 shares of common stock on January 8, 2026.
• This acquisition resulted from the vesting of stock units granted under the Issuer's 2009 Performance Incentive Plan, specifically relative total stockholder return-based stock unit (TSR units) awards from December 27, 2022.
• The Compensation Committee determined on January 8, 2026, that 200% of the target TSR units were earned, based on the company's total stockholder return ranking among preselected peer companies over a three-year performance period.
• The vested shares include 1,680 shares attributed to dividend equivalent payments.
• Concurrently, 3,128 shares and 3,929 shares were disposed of at a price of $19.61 per share to satisfy tax withholding obligations related to the vesting and settlement of restricted stock units.
• Following these transactions, Jessica Flores beneficially owns 84,546 shares of common stock, which includes 25,159 stock units to be settled one-for-one in common stock.

Sentiment

Score: 8

Explanation: The filing indicates strong company performance relative to peers, as evidenced by the 200% achievement of performance-based stock units for an executive. While shares were sold for taxes, this is a standard practice and doesn't detract from the positive performance indicator.

Positives

• Executive VP & CAO Jessica Flores acquired 7,996 shares of common stock through the vesting of performance-based stock units.
• The company's Compensation Committee determined that 200% of the target relative total stockholder return (TSR) units were earned, indicating strong performance against peer companies over a three-year period.
• The vesting included 1,680 shares from dividend equivalent payments, reflecting additional value accrual.

Negatives

• 3,128 shares and 3,929 shares were disposed of at $19.61 per share to cover tax withholding obligations, which is a standard practice but reduces the immediate net share gain.

Future Outlook

NA

Industry Context

This filing reflects a standard executive compensation practice within the REIT sector, where performance-based equity awards are tied to metrics like Total Stockholder Return (TSR) relative to a peer group. The 200% achievement suggests strong relative performance for Sabra Health Care REIT within its industry segment over the three-year period ending January 8, 2026.

Comparison to Industry Standards

• The achievement of 200% of target TSR units indicates Sabra Health Care REIT's total stockholder return outperformed its preselected peer group significantly over the three-year performance period. This suggests strong relative performance compared to other healthcare REITs or a broader industry benchmark.
• The use of relative TSR as a performance metric for executive compensation is a common and well-regarded practice in the industry, aligning executive incentives with shareholder value creation against competitors.

Stakeholder Impact

• Shareholders: The 200% achievement of TSR units suggests strong past performance relative to peers, which is positive for existing shareholders. The vesting and subsequent tax-related sales are standard and expected.
• Employees: The executive's compensation structure and performance achievement could serve as a positive signal regarding the company's overall performance and potential for other performance-based incentives.

Key Dates

Recommendation

The filing indicates strong past performance relative to peers, which is a positive signal. However, as a Form 4, it primarily reports an executive's stock transactions related to compensation rather than new strategic initiatives or financial results. While the 200% TSR achievement is very positive, it reflects past performance. Without additional context from broader financial reports or future guidance, a 'hold' recommendation is prudent, acknowledging the positive performance while awaiting more comprehensive financial updates to assess future prospects.

Keywords

Sabra Health Care REIT, SBRA, Form 4, Insider Trading, Stock Vesting, Executive Compensation, TSR Units, Performance Incentive Plan, Jessica Flores, Beneficial Ownership, Real Estate Investment Trust, Healthcare REIT