Healthpeak (DOC) CEO makes 120,372-unit OP equity gifts, retains stake

Rhea-AI Filing Summary

HEALTHPEAK PROPERTIES, INC. President and CEO Scott M. Brinker reported two bona fide gifts of derivative “OP Units” linked to the company’s common stock. He gifted 60,186 OP Units previously reported as directly held into a revocable trust of his spouse and separately gifted another 60,186 OP Units.

After these non-cash, non–open-market transfers, he reports 124,281 OP Units held indirectly through his spouse’s trust and 412,367 OP Units held directly. Each OP Unit is redeemable for cash equal to one share of common stock or may be converted into one share at Healthpeak OP’s option.

Insider Trade Summary

120,372 shares gifted

Mixed 2 txns

Insider Brinker Scott M

Role President and CEO

Type	Security	Shares	Price	Value
Gift	OP Units	60,186	$0.00	--
Gift	OP Units	60,186	$0.00	--

Holdings After Transaction: OP Units — 412,367 shares (Direct, null); OP Units — 124,281 shares (Indirect, Spouse's Trust)

Footnotes (1)

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" intended to qualify as profits interests for U.S. federal income tax purposes, and upon achieving equivalent capital account balance per unit and applicable vesting conditions, the LTIP Units were converted at the election of the reporting person into common unit membership interests in Healthpeak OP (the "OP Units"). The OP Units reflected in this report 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. The OP Units reflected in this report were previously reported as LTIP Units directly held by the reporting person and were transferred to a revocable trust of the reporting person's spouse.

Key Figures

Total OP Units gifted: 120,372 OP Units First OP Unit gift size: 60,186 OP Units Second OP Unit gift size: 60,186 OP Units +2 more

5 metrics

Total OP Units gifted 120,372 OP Units Two bona fide gifts on 2026-05-14

First OP Unit gift size 60,186 OP Units Transferred to spouse’s revocable trust

Second OP Unit gift size 60,186 OP Units Gift from direct holdings

Direct OP Units after gifts 412,367 OP Units Direct holdings following 2026-05-14 gifts

Indirect OP Units after gifts 124,281 OP Units Held via spouse’s trust after 2026-05-14 transfer

Key Terms

OP Units, LTIP Units, bona fide gift, profits interests, +1 more

5 terms

OP Units financial

"The OP Units reflected in this report 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"

OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.

LTIP Units financial

"designated as "LTIP Units" intended to qualify as profits interests for U.S. federal income tax purposes"

LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.

bona fide gift financial

"transaction_code_description": "Bona fide gift""

A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.

profits interests financial

"LTIP Units intended to qualify as profits interests for U.S. federal income tax purposes"

revocable trust financial

"were transferred to a revocable trust of the reporting person's spouse"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Form 4 Insider Transactions: What Each Field Means →

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^*

Brinker Scott M

(Last) (First) (Middle)

4600 SOUTH SYRACUSE STREET

SUITE 500

(Street)

DENVER COLORADO 80237

(City) (State) (Zip)

UNITED STATES

(Country)

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

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)
05/14/2026

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

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	(1)	05/14/2026		G			60,186(2)	(1)(2)	(1)	Common Stock	60,186	$0	412,367	D
OP Units	(1)	05/14/2026		G		60,186(2)		(1)(2)	(1)	Common Stock	60,186	$0	124,281	I	Spouse's Trust

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" intended to qualify as profits interests for U.S. federal income tax purposes, and upon achieving equivalent capital account balance per unit and applicable vesting conditions, the LTIP Units were converted at the election of the reporting person into common unit membership interests in Healthpeak OP (the "OP Units"). The OP Units reflected in this report 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. The OP Units reflected in this report were previously reported as LTIP Units directly held by the reporting person and were transferred to a revocable trust of the reporting person's spouse.

Remarks:

	Carol Samaan, SVP, Legal (Attorney-In-Fact)	05/18/2026
	** 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)

FAQ

What insider transactions did Healthpeak Properties (DOC) report for Scott M. Brinker?

Scott M. Brinker reported two bona fide gifts of OP Units, each for 60,186 units. These are derivative interests tied one-for-one to Healthpeak common stock and represent non-cash, non–open-market transfers rather than purchases or sales on the stock market.

How many OP Units did the Healthpeak (DOC) CEO gift in total?

Scott M. Brinker gifted a total of 120,372 OP Units, split into two 60,186-unit bona fide gifts. One transfer moved previously directly held units into his spouse’s revocable trust, while another gift reduced his directly held OP Unit position but did not involve cash proceeds.

What are Healthpeak OP Units and how do they relate to DOC common stock?

The OP Units are membership interests in Healthpeak OP, LLC, originally issued as LTIP Units that converted after vesting. Each OP Unit is redeemable for cash equal to one Healthpeak common share’s fair market value or, at Healthpeak OP’s option, convertible into one share on a one-for-one basis.

How many OP Units does the Healthpeak (DOC) CEO hold after these gifts?

Following the reported gifts, Scott M. Brinker holds 412,367 OP Units directly and 124,281 OP Units indirectly through his spouse’s revocable trust. These figures show his remaining derivative equity exposure via OP Units after transferring 120,372 units as bona fide gifts.

Were the Healthpeak (DOC) CEO’s recent OP Unit transactions open-market sales or buys?

The transactions were not open-market trades. Both are coded as bona fide gifts of OP Units with a reported price of $0.0000 per unit, meaning they are non-cash transfers rather than purchases or sales executed on a stock exchange or through typical market transactions.