Form 4: Sabra Health Care REIT Director Michael J. Foster Reports Stock Grant and Deferred Stock Units

Director Michael J. Foster received 9,480 restricted stock units and holds 74,414 shares of Sabra Health Care REIT, Inc.

Summary

• Michael J. Foster, a director of Sabra Health Care REIT, Inc., reported changes in beneficial ownership of the company's stock on June 13, 2024.
• Foster acquired 9,480 shares of common stock through a grant of restricted stock units under the company's 2009 Performance Incentive Plan.
• These units vest in equal monthly installments starting July 13, 2024, and ending on June 13, 2025, or the day before the next annual stockholders' meeting.
• As of June 13, 2024, Foster beneficially owns 74,414 shares of common stock, including unvested and deferred stock units.
• Foster also has 42,411.745 shares held indirectly through a 401(k) plan.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction (stock grant) and adherence to regulatory requirements, indicating a neutral to slightly positive sentiment due to alignment of director interests with shareholders.

Positives

• The grant of restricted stock units aligns the director's interests with those of the shareholders.
• The vesting schedule encourages continued service and contribution to the company.

Future Outlook

The restricted stock units will vest in monthly installments until June 13, 2025, or the day before the next annual stockholders' meeting, incentivizing the director's continued service.

Industry Context

Reporting of beneficial ownership is standard practice for directors and officers of publicly traded companies, ensuring transparency and compliance with SEC regulations.

Comparison to Industry Standards

• Stock grants are a common form of compensation for directors in REITs and other publicly traded companies.
• Vesting schedules are typically used to align the interests of directors with the long-term performance of the company.
• Companies like Welltower (WELL) and Ventas (VTR) also utilize stock grants as part of their director compensation packages.

Stakeholder Impact

• Shareholders may view the stock grant as a positive sign, aligning the director's interests with the company's performance.
• The vesting schedule incentivizes the director to contribute to the company's long-term success.

Next Steps

• The director will continue to vest in the restricted stock units over the coming months.
• The company will likely report further changes in beneficial ownership as the units vest or are settled.

Key Dates