Dodson Vicki L 4

What Happened

• Vicki L. Dodson, Senior Vice President, Patient Services at National Healthcare Corp (NHC), exercised stock options on 2026-03-16, acquiring 3,734 common shares by paying the option exercise price ($53.94 per share; total $201,412). To satisfy the exercise price and withholding tax obligations, 2,034 of the newly acquired shares were withheld/disposed at a market value of $164.96 per share (total $335,529). Net shares retained from this transaction: 1,700 shares.

Key Details

• Transaction date: March 16, 2026 (Form filed March 18, 2026 — within two business days).
• Option exercise: 3,734 shares at $53.94 per share (total cash paid $201,412) — transaction code M (exercise/conversion of derivative).
• Shares withheld: 2,034 shares at $164.96 per share (value $335,529) to pay exercise price and withholding taxes — transaction code F (payment of exercise price/tax withholding).
• Net shares retained after the transactions: 1,700 shares (3,734 acquired − 2,034 withheld).
• Footnotes: F1 notes the options were granted under the 2020 Omnibus Equity Incentive Plan (grant date March 8, 2023) and are exempt under Rule 16b-3(d); F2 confirms shares were withheld to cover exercise price and taxes; F3 references the post-transaction beneficial ownership total as reported in the filing (filing did not specify a pre-transaction holding in the summary provided here).
• Filing timeliness: Filed March 18, 2026 for a March 16 transaction (appears timely under Form 4 two-business-day rule).

Context

• This was an options exercise with a cashless-like settlement: shares were withheld to cover the exercise cost and tax withholding rather than an open-market sale. Exercises and related withholdings are generally routine executive compensation actions and are not a straightforward bullish or bearish signal by themselves.