LTC (LTC) Co-CEO reports tax-withholding of 3,246 shares in Form 4

Rhea-AI Filing Summary

LTC Properties Inc. insider Pamela Shelley-Kessler, Co-President and Co-CEO, reported a tax-related share disposition. On 02/09/2026, she disposed of 3,246 shares of LTC common stock at $37.28 per share through a tax-withholding transaction tied to vesting of previously granted restricted stock.

After this transaction, she beneficially owned 196,015 LTC common shares directly. In addition, 1,000 LTC common shares were reported as indirectly owned through a spouse IRA, reflecting separate indirect beneficial ownership.

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

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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^*

SHELLEY-KESSLER PAMELA

(Last) (First) (Middle)

3011 TOWNSGATE ROAD

SUITE 220

(Street)

WESTLAKE VILLAGE CA 91361

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LTC PROPERTIES INC [ LTC ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CO-PRESIDENT AND CO-CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/09/2026

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
Common Stock	02/09/2026		F(1)		3,246	D	$37.28	196,015	D
Common Stock								1,000	I	spouse IRA

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. Represents tax withholding on vesting of previously reported restricted stock grant.

	/s/ Pamela Shelley-Kessler	02/10/2026
	** 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.

FAQ

What insider transaction did LTC (LTC) report for Pamela Shelley-Kessler?

Pamela Shelley-Kessler reported a tax-withholding disposition of 3,246 LTC common shares. The shares were withheld to cover taxes upon vesting of a previously reported restricted stock grant, rather than sold in an open-market transaction.

Was the LTC (LTC) Form 4 transaction an open-market sale of shares?

No, the Form 4 describes a tax-withholding disposition, not an open-market sale. 3,246 shares were withheld at $37.28 per share to satisfy tax obligations triggered by vesting of an earlier restricted stock award.

How many LTC (LTC) shares does Pamela Shelley-Kessler own after the reported Form 4?

Following the reported transaction, Pamela Shelley-Kessler beneficially owned 196,015 LTC common shares directly. The filing also shows indirect beneficial ownership of 1,000 LTC common shares held through a spouse IRA account.

What does transaction code F mean in the LTC (LTC) Form 4 filing?

Transaction code F indicates payment of an exercise price or tax liability by delivering securities. In this case, 3,246 LTC common shares were withheld to cover tax obligations on vesting of a restricted stock grant.

How is the spouse IRA reported in the LTC (LTC) insider filing?

The Form 4 lists 1,000 LTC common shares as indirectly owned through a spouse IRA. This reflects indirect beneficial ownership, separate from the 196,015 LTC common shares held directly by Pamela Shelley-Kessler.

What role does Pamela Shelley-Kessler hold at LTC (LTC) in this Form 4?

Pamela Shelley-Kessler is identified as an officer of LTC Properties Inc., serving as Co-President and Co-CEO. Her position is disclosed alongside the reported tax-withholding disposition and her direct and indirect share ownership.