DHC CEO awarded 59,681 shares in equity grant

DHC’s President and CEO received a new equity grant, increasing his directly held common shares to just over 339,184.

Rhea-AI Filing Summary

DIVERSIFIED HEALTHCARE TRUST (DHC) reported that President and CEO Christopher J. Bilotto received an award of 59,681 common shares of beneficial interest on September 10, 2026, as an equity grant under the company’s equity compensation plan.

Following this award and related changes, he now directly holds a total of 339,184.96 shares, including 256.99 shares previously acquired through the dividend reinvestment plan; 0.475 fractional shares from that plan were sold for cash. No Rule 10b5-1 trading plan is indicated.

Insider Trade Summary

Grant/Award: 59,681 shares

Grant/Award 1 txn

Insider Bilotto Christopher J.

Role President and CEO

Type	Security	Shares	Price	Value
Grant/Award	Common Shares of Beneficial Interest F1, F2	59,681	--	--

Holdings After Transaction: Common Shares of Beneficial Interest — 339,184.96 shares (Direct)

Footnotes (2)

1. F1. Transaction reported is award of shares pursuant to the Issuer's equity compensation plan.
2. F2. Since the Reporting Person's last report, he has discontinued participation in the Issuer's dividend reinvestment plan, and 256.99 shares previously acquired through the dividend reinvestment plan are now held directly, and 0.475 fractional shares were sold for cash.

Key Figures

Shares awarded: 59,681 shares Total shares held after transaction: 339,184.96 shares Shares from dividend reinvestment plan now held directly: 256.99 shares +2 more

5 metrics

Shares awarded 59,681 shares Equity award granted on September 10, 2026 to the President and CEO

Total shares held after transaction 339,184.96 shares Direct holdings of Christopher J. Bilotto following the reported award

Shares from dividend reinvestment plan now held directly 256.99 shares Shares previously acquired through the dividend reinvestment plan

Fractional shares sold 0.475 shares Fractional shares from dividend reinvestment plan sold for cash

Rule 10b5-1 plan status No plan reported Document-level 10b5-1 checkbox is not affirmed for this transaction

Key Terms

Common Shares of Beneficial Interest, equity compensation plan, dividend reinvestment plan, fractional shares

4 terms

Common Shares of Beneficial Interest financial

"security titled "Common Shares of Beneficial Interest" was awarded"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

equity compensation plan financial

"award of shares pursuant to the Issuer's equity compensation plan"

A plan by which a company gives employees, directors or contractors ownership or the right to buy ownership in the company through stock, options or similar awards — think of promising slices of the company pie as part of someone's pay. It matters to investors because these awards can change the number of shares outstanding, affect reported profits and influence management’s decisions; large or generous plans can dilute existing holders and alter incentives over time.

dividend reinvestment plan financial

"discontinued participation in the Issuer's dividend reinvestment plan"

A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.

fractional shares financial

"0.475 fractional shares were sold for cash"

Fractional shares are portions of a whole share of a stock or fund, allowing investors to own less than one full unit. They make it possible to invest a specific dollar amount rather than buy whole shares, like buying a slice of a pizza instead of the entire pie. For investors this lowers the cost barrier, helps with diversification, and lets you reinvest dividends or purchase expensive stocks in small, precise amounts.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did DHC report for CEO Christopher J. Bilotto?

The company reported that Christopher J. Bilotto received an award of 59,681 common shares on September 10, 2026, classified as a grant under the equity compensation plan, rather than a market purchase.

How many DHC (DHC) shares does the CEO hold after this Form 4 transaction?

After the reported award, Christopher J. Bilotto directly holds 339,184.96 common shares of beneficial interest. This total includes shares awarded under the equity compensation plan and shares previously acquired through the dividend reinvestment plan.

Was the DHC CEO’s September 10, 2026 share award under a 10b5-1 plan?

No. The filing indicates no Rule 10b5-1 trading plan for this transaction, meaning the reported share award was not executed under a pre-arranged trading plan framework.

What does the Form 4 say about the DHC CEO’s dividend reinvestment plan participation?

The filing states that Christopher J. Bilotto has discontinued participation in the dividend reinvestment plan. 256.99 shares previously acquired through the plan are now held directly, and 0.475 fractional shares were sold for cash.

What type of security was granted to the DHC CEO in this Form 4?

The transaction involved Common Shares of Beneficial Interest of DIVERSIFIED HEALTHCARE TRUST, granted as an award under the issuer’s equity compensation plan, rather than derivative securities or options.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/14/2026 - 05:54 PM Accepted by SEC EDGAR 09/14/2026 - 05:53 PM Learn about SEC filing dates

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
Estimated average burden
hours per response:			0.5

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^*

Bilotto Christopher J.

(Last) (First) (Middle)

C/O THE RMR GROUP LLC

TWO NEWTON PL., 255 WASH. ST., STE. 300

(Street)

NEWTON MASSACHUSETTS 02458

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DIVERSIFIED HEALTHCARE TRUST [ NASDAQ:DHC ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2026

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

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

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

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 Shares of Beneficial Interest	09/10/2026		A		59,681	A	(1)	339,184.96(2)	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. Transaction reported is award of shares pursuant to the Issuer's equity compensation plan.

2. Since the Reporting Person's last report, he has discontinued participation in the Issuer's dividend reinvestment plan, and 256.99 shares previously acquired through the dividend reinvestment plan are now held directly, and 0.475 fractional shares were sold for cash.

	/s/ Christopher J. Bilotto	09/14/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)