Stephen Flatt - 05 Nov 2021 Form 4 Insider Report for NATIONAL HEALTHCARE CORP (NHC)

Role: CEO, Director
Signature: /s/ Stephen F. Flatt by Kristina R. Hulsey, P.O.A.
Issuer symbol: NHC
Transactions as of: 05 Nov 2021
Transactions value $: -$32,030
Form type: 4
Filing time: 09 Nov 2021, 16:59:38 UTC
Next filing: 04 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	NHC	Shares of Common Stock held in my name	Options Exercise	$2.92M	+40K	+78.85%	$72.94	90.7K	05 Nov 2021	Direct	F1
transaction	NHC	Shares of Common Stock held in my name	Tax liability	-$2.95M	-38.6K	-42.58%	$76.35	52.1K	05 Nov 2021	Direct	F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	NHC	Option to Purchase Common Stock	Options Exercise	$0	-40K	-88.89%	$0.00	5K	05 Nov 2021	Common Stock	45K	$72.94	Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These stock options were granted pursuant to the 2010 Omnibus Equity Incentive Plan on May 9, 2017. On February 11, 2021, the Compensation Committee amended the options to grant the ability to exercise up to 100% of these options, with any shares issued upon exercise to be held as restricted stock until February 9, 2022, the original vesting date. The grant and exercise of these stock options are exempt from Section 16(b) pursuant to Rule 16b-3(d).
F2	Shares were withheld by the Company to pay the exercise price and withholding tax obligations.
F3	Total amount of shares beneficially owned following transactions reported on this form.