AHR insider sale: 20,010 shares at $49.6804; holdings updated

Rhea-AI Filing Summary

American Healthcare REIT (AHR) director Jeffrey T. Hanson reported an open‑market sale of 20,010 shares of common stock on 11/10/2025 at a weighted average price of $49.6804 (Transaction Code S). Following the sale, he held 21,798 shares directly.

He also reports indirect holdings including 54,778 shares by the Hanson Family Trust, 5,552 by April L. Hanson IRA, 2,515 by Crescentridge 401(k), 16,720 by a Defined Benefit Pension Plan, 729 by spouse’s 401(k), and 4,869 by JTH Holdings LLC DBPP. Additionally, 1,268,643 OP Units are held by AHI Group Holdings, LLC; Mr. Hanson disclaims beneficial ownership except to his pecuniary interest.

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

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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^*

Hanson Jeffrey T

(Last) (First) (Middle)

18191 VON KARMAN AVE

SUITE 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)
11/10/2025

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	11/10/2025		S		20,010	D	$49.6804(1)	21,798	D
Common Stock								54,778	I	By Hanson Family Trust dated 06/14/2005(2)
Common Stock								5,552	I	By April L. Hanson IRA(3)
Common Stock								2,515	I	By Crescentridge 401K Plan(4)
Common Stock								16,720	I	By Defined Benefit Pension Plan(5)
Common Stock								729	I	By Spouse's Crescentridge 401K Plan(6)
Common Stock								4,869	I	By JTH Holdings LLC DBPP(5)

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
OP Units(7)	(8)							(8)	(8)	Common Stock	1,268,643		1,268,643	I	By AHI Group Holdings, LLC(9)

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $49.5300 to $49.8400, inclusive. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the Issuer or a security holder of the Issuer full information regarding the number of shares sold at each separate price within the range set forth herein.

2. The reported shares are held directly by Jeffrey T Hanson and April L Hanson Family Trust dated 06/14/2005, and indirectly by Mr. Hanson and April L. Hanson, Trustees. April L. Hanson is the wife of the reporting person.

3. The reported shares are owned by April L. Hanson through her investment retirement account.

4. The reported shares are owned by Mr. Hanson through his Crescentridge Inc. 401(k) plan.

5. The reported shares are held directly in a defined benefit pension plan, of which Mr. Hanson serves as Trustee.

6. The reported shares are owned by April L. Hanson through her Crescentridge Inc. 401(k) plan.

7. Represents units of limited partnership interest in American Healthcare REIT Holdings, LP, the Issuer's operating partnership (each unit, an "OP Unit").

8. The holder of the OP Units has the right to require American Healthcare REIT Holdings, LP, to redeem part or all of the OP Units for cash, based upon the value of an equivalent number of shares of the Issuer's common stock at the time of the redemption or, at the Issuer's election, shares of the Issuer's common stock on a one-for-one basis, subject to certain adjustments and the restrictions on ownership and transfer of the Issuer's stock set forth in its charter.

9. These OP Units are held directly by AHI Group Holdings, LLC, which is owned and controlled by Mr. Hanson (the reporting person), Danny Prosky (the Issuer's Chief Executive Officer, President and a director), and Mathieu B. Streiff (one of the Issuer's non-executive directors). Mr. Hanson disclaims beneficial ownership over these OP Units, except to the extent of his pecuniary interest therein.

Remarks:

Mr. Hanson has determined to report the OP Units held directly by AHI Group Holdings, LLC, on his Section 16 reports for transparency and consistency with other public disclosures. Mr. Hanson continues to disclaim beneficial ownership over the reported OP Units.

	/s/ JEFFREY T. HANSON	11/10/2025
	** 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

What insider transaction did AHR disclose on this Form 4?

Director Jeffrey T. Hanson sold 20,010 shares of common stock on 11/10/2025 at a weighted average price of $49.6804.

How many AHR shares does the reporting person hold directly after the sale?

He held 21,798 shares directly after the reported transaction.

What price range did the AHR share sale occur within?

Multiple trades were executed between $49.5300 and $49.8400; the reported price is a weighted average.

What indirect AHR holdings are reported for Jeffrey T. Hanson?

Indirect holdings include 54,778 shares by the Hanson Family Trust, 5,552 by April L. Hanson IRA, 2,515 by Crescentridge 401(k), 16,720 by a Defined Benefit Pension Plan, 729 by spouse’s 401(k), and 4,869 by JTH Holdings LLC DBPP.

What OP Units related to AHR are reported and what rights do they carry?

1,268,643 OP Units are held by AHI Group Holdings, LLC. The holder may require redemption for cash based on the value of an equivalent number of AHR shares or, at the issuer’s election, shares on a one‑for‑one basis, subject to adjustments and charter restrictions.

Does the reporting person claim beneficial ownership of the OP Units?

Mr. Hanson disclaims beneficial ownership of the OP Units, except to the extent of his pecuniary interest.