American Healthcare REIT Insider Adds 3,042 Shares in Equity Grant

Rhea-AI Filing Summary

American Healthcare REIT, Inc. (AHR) – Form 4 insider filing

Director Brian J. Flornes reported the receipt of 3,042 shares of restricted common stock on 25 June 2025 following his re-election to the board. The grant was recorded under transaction code “A” (acquisition) at an assigned price of $0.00, indicating a non-cash equity award rather than an open-market purchase.

The awarded shares will vest on 25 June 2026, one year after the grant date. After the transaction, Mr. Flornes’ total direct beneficial ownership increased to 30,426 common shares. No derivative securities, dispositions, or sales were reported.

This filing represents a routine director compensation grant and does not introduce new debt, equity financing, or earnings guidance. The transaction adds a modest 0.003% to AHR’s outstanding share count (based on ~100 million shares outstanding, if unchanged), limiting any dilution concerns. From a governance perspective, incremental ownership can further align the director’s incentives with shareholder interests.

Positive

• Director ownership increased, marginally enhancing alignment between board member and shareholders.

Negative

• None.

Insights

Equity Compensation Analyst

TL;DR: Routine director grant; immaterial dilution; neutral impact.

The filing discloses a standard annual equity award of 3,042 restricted shares to Director Brian J. Flornes. With no cash outlay and a 12-month vesting schedule, the grant aligns management incentives but does not materially change insider ownership or capital structure. Post-transaction holdings of 30,426 shares remain minor relative to AHR’s float, so market impact should be negligible. Investors may view the additional skin-in-the-game positively, yet the size is too small to signal meaningfully bullish insider sentiment. Overall, governance-routine, financially neutral.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Flornes Brian J.

(Last) (First) (Middle)

C/O AMERICAN HEALTHCARE REIT, INC.

18191 VON KARMAN AVE., STE. 300

(Street)

IRVINE CA 92612

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
American Healthcare REIT, Inc. [ AHR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	06/25/2025		A		3,042(1)	A	$0	30,426	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Upon his re-election as a director to the board of directors of the Issuer on June 25, 2025, the Reporting Person was granted 3,042 shares of restricted common stock on June 25, 2025. The reported shares of restricted common stock vest on June 25, 2026.

Remarks:

	/s/ BRIAN J. FLORNES	06/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

Who filed the Form 4 for AHR?

Brian J. Flornes, a director of American Healthcare REIT, Inc.

How many AHR shares did the director receive?

He was granted 3,042 restricted common shares.

What was the transaction price of the shares?

The shares were granted at $0.00 (non-cash equity award).

When do the restricted shares vest?

The shares fully vest on 25 June 2026.

What is the director's total ownership after the grant?

Mr. Flornes now beneficially owns 30,426 AHR shares directly.