SHELLEY-KESSLER PAMELA 4

What Happened

• Pamela Shelley‑Kessler, Co‑President and Co‑CEO of LTC Properties (LTC), had 3,852 shares disposed to satisfy tax withholding on the vesting of previously reported restricted stock. The shares were valued at $39.39 each, for a total of approximately $151,730. This was a withholding disposition (code F) tied to an award vesting, not an open‑market sale expressing investment sentiment.

Key Details

• Transaction date: 2026-02-13; Filing date (Form 4): 2026-02-17.
• Price per share: $39.39; Shares withheld/disposed: 3,852; Total value: ~$151,730.
• Transaction code: F (shares withheld to satisfy tax withholding on vesting).
• Footnotes: F1 indicates this represents tax withholding on the vesting of a previously reported restricted stock grant. F2 notes a correction to a previously reported amount beneficially owned.
• Shares owned after transaction: The filing includes a correction to previously reported beneficial ownership (see footnote F2); the updated total should be checked in the full Form 4.

Context

• Tax withholding on RSU vesting is routine and typically does not signal a change in the insider’s view of the company; shares are surrendered to cover tax obligations rather than sold for investment reasons.
• For retail investors, such transactions are administrative — informative about compensation but generally less indicative of insider sentiment than outright open‑market buys or voluntary sales.