Jeffrey Russell Smith - Mar 8, 2023 Form 4 Insider Report for NATIONAL HEALTHCARE CORP (NHC)

Role: SVP & Treasurer
Signature: /s/ Jeffrey Russell Smith by Kristina R. Hulsey, P.O.A.
Stock symbol: NHC
Transactions as of: Mar 8, 2023
Transactions value $: $0
Form type: 4
Date filed: 3/9/2023, 05:20 PM
Previous filing: Jan 4, 2023

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	Award	$0	+418	+5.5%	$0.00	8.02K	Mar 8, 2023	Direct	F1

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	Award	$0	+7.5K		$0.00	7.5K	Mar 8, 2023	Common Stock	7.5K	$53.94	Direct	F2, F3
holding	NHC	Option to Purchase Common Stock						11.2K	Mar 8, 2023	Common Stock	11.2K	$63.96	Direct

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

Explanation of Responses:

Id	Content
F1	Grant of restricted shares that are subject to a three-year vesting schedule with the first 33 1/3% vesting on 1/1/2024, the next 33 1/3% vesting on 1/1/2025, and the final 33 1/3% vesting on 1/1/2026.
F2	These stock options were granted pursuant to the Company's 2020 Omnibus Equity Incentive Plan on March 8, 2023. The grant and exercise of these stock options are exempt from Section 16(b) pursuant to Rule 16b-3(d).
F3	This option will become vested and exercisable ratably over three (3) years so that one-third (1/3) will vest on March 8, 2024; one-third (1/3) will vest on March 8, 2025; and the final one-third (1/3) will vest on March 8, 2026.