Healthpeak Properties (DOC) EVP Patadia receives performance-based LTIP unit awards

Rhea-AI Filing Summary

Healthpeak Properties, Inc. executive Ankit B. Patadia, EVP and Treasurer, reported two equity-based awards tied to the company’s operating partnership. On January 28, 2026, he acquired 1,079 LTIP Units and separately 15,816 LTIP Units, both at a stated price of $0 per unit.

The LTIP Units are a class of membership interests in Healthpeak OP, LLC intended to qualify as profits interests for tax purposes. Once capital account and vesting conditions are met, they can be converted into OP Units, which are redeemable for cash equal to the value of one share of Healthpeak common stock or convertible into common stock on a one-for-one basis.

The 1,079-unit award represents earned performance-based LTIP Units granted on February 15, 2023, which vested in full on January 28, 2026 after the company’s Compensation and Human Capital Committee confirmed performance goals were achieved. The 15,816-unit award reflects performance-based LTIP Units granted on February 7, 2025 and May 1, 2025 that were earned as of the same determination date and will vest in three equal annual installments starting from February 7, 2026, subject to continued employment.

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^*

Patadia Ankit B.

(Last) (First) (Middle)

4600 SOUTH SYRACUSE STREET

SUITE 500

(Street)

DENVER CO 80237

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
HEALTHPEAK PROPERTIES, INC. [ DOC ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
01/28/2026

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

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
LTIP Units	(1)	01/28/2026		A		1,079		(1)(2)	(1)	Common Stock	1,079	(1)	1,079	D
LTIP Units	(1)	01/28/2026		A		15,816		(1)(3)	(1)	Common Stock	15,816	(1)	15,816	D

Explanation of Responses:

1. Represents 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. LTIP Units do not have an expiration date. 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.

2. Represents earned performance-based LTIP Units previously granted to the reporting person on February 15, 2023. The performance conditions applicable to the performance-based LTIP Units were determined to have been satisfied by the Issuer's Compensation and Human Capital Committee (the "Committee") on January 28, 2026 (the "Determination Date"), resulting in the earned LTIP Units shown vesting in full on the Determination Date.

3. Represents earned performance-based LTIP Units previously granted to the reporting person on February 7, 2025 and May 1, 2025. The performance condition applicable to these awards was determined to have been satisfied by the Committee on the Determination Date, resulting in the LTIP Units shown being earned. These LTIP Units vest in one-third (1/3) increments on each of the first, second and third anniversaries of February 7, 2025, subject to the reporting person's continued employment through the applicable vesting date.

Remarks:

	Carol Samaan, SVP, Legal (Attorney-In-Fact)	01/30/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did Healthpeak Properties (DOC) report for Ankit B. Patadia?

Healthpeak Properties reported that EVP and Treasurer Ankit B. Patadia acquired two blocks of LTIP Units on January 28, 2026: 1,079 units and 15,816 units. Both awards were recorded at a stated price of $0 per unit as equity-based compensation.

What are LTIP Units reported in the Healthpeak Properties (DOC) Form 4?

The LTIP Units are a class of membership interests in Healthpeak OP, LLC, intended to qualify as profits interests for U.S. tax purposes. After capital account and vesting conditions are satisfied, they can be converted into OP Units, then redeemed for cash or converted into Healthpeak common stock one-for-one.

Why did Healthpeak’s Compensation Committee determine Ankit Patadia earned 1,079 LTIP Units?

The 1,079 LTIP Units were performance-based awards originally granted on February 15, 2023. On January 28, 2026, Healthpeak’s Compensation and Human Capital Committee determined the related performance conditions were satisfied, causing these earned LTIP Units to vest in full on that determination date.

How do the 15,816 LTIP Units for Ankit Patadia vest at Healthpeak Properties (DOC)?

The 15,816 LTIP Units were performance-based awards granted on February 7, 2025 and May 1, 2025. They were earned as of January 28, 2026 and will vest in one-third increments on the first, second, and third anniversaries of February 7, 2025, subject to continued employment.

Does the LTIP award to Ankit Patadia at Healthpeak Properties have an expiration date?

The LTIP Units reported have no expiration date. After achieving equivalent capital account balances and satisfying vesting conditions, they may be converted into OP Units, which are redeemable for cash or convertible into Healthpeak Properties common stock on a one-for-one basis without an expiration date.

Is the Ankit Patadia Form 4 transaction at Healthpeak Properties (DOC) a sale of common stock?

No, the filing reports acquisitions of LTIP Units, a derivative form of equity in Healthpeak OP, LLC, not sales of common stock. These units may later be converted into OP Units and then redeemed for cash or converted into common stock if required conditions are met.