Scott M. Brinker - Feb 15, 2023 Form 4 Insider Report for HEALTHPEAK PROPERTIES, INC. (PEAK)

Role
President and CEO, Director
Signature
Scott A. Graziano, SVP, Legal (Attorney-In-Fact)
Stock symbol
PEAK
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
4
Date filed
2/16/2023, 05:04 PM
Previous filing
Feb 14, 2023
Next filing
Mar 2, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction PEAK Common Stock Disposed to Issuer -91.2K -32.41% 190K Feb 15, 2023 Direct F1, F2

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 PEAK LTIP Units Award +91.2K 91.2K Feb 15, 2023 Common Stock 91.2K Direct F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents unvested restricted stock units in respect of shares of common stock of the Issuer that were previously granted to the reporting person, provided for time-based vesting, and were cancelled by the Issuer on February 15, 2023 (the "Cancelled RSUs"). This cancellation of shares does not constitute a sale transaction.
F2 The reporting person received in exchange for the Cancelled RSUs a replacement award of a class of units of membership interests in Healthpeak OP, LLC, a Maryland limited liability company ("Healthpeak OP"), the operating subsidiary of the Issuer, designated as LTIP Units (LTIP Units) intended to qualify as profits interests for U.S. federal income tax purposes, and which have the same vesting schedule as the corresponding Cancelled RSUs. Upon achieving equivalent capital account balance per unit and any applicable vesting conditions, the LTIP Units are convertible at the election of the holder into common unit membership interests in Healthpeak OP (the OP Units). The OP Units are redeemable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of Healthpeak OP, convertible to shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date.
F3 These LTIP Units represent the unvested portion of the original grant, which vests one-fifth (1/5) annually commencing on the second anniversary of the March 1, 2018 grant date, subject to continued service with the Issuer.