LTC director granted 3,077 restricted shares at $39

LTC Properties Inc director Cornelia Cheng received a grant of 3,077 shares of common stock as equity compensation.

Rhea-AI Filing Summary

LTC Properties Inc director Cornelia Cheng received a grant of 3,077 shares of common stock as equity compensation. The award price was $39.00 per share, and the shares are restricted stock that vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders. Following this grant, Cheng directly holds 21,409 shares of LTC Properties common stock, which includes 1,136 shares acquired through the company’s dividend reinvestment plan. This Form 4 reflects a routine compensation-related acquisition rather than an open-market share purchase.

Insider Trade Summary

Net Buyer: 3,077 shares

Net Buy 1 txn

Insider Cheng Cornelia

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,077	$39.00	$120K

Holdings After Transaction: Common Stock — 21,409 shares (Direct)

Footnotes (2)

1. F1. Restricted stock grant. Shares vest upon the earlier to occur of (i) the one-year anniversary of the original date of award, and (ii) the date of the next annual meeting of stockholders.
2. F2. Includes 1,136 shares acquired under LTC Properties, Inc's dividend reinvestment plan.

Key Figures

Restricted stock grant size: 3,077 shares Grant price per share: $39.00 per share Shares owned after transaction: 21,409 shares +1 more

4 metrics

Restricted stock grant size 3,077 shares Common stock grant to director Cornelia Cheng on May 20, 2026

Grant price per share $39.00 per share Restricted stock award pricing for LTC common stock

Shares owned after transaction 21,409 shares Total direct LTC holdings following the grant

Dividend reinvestment plan shares 1,136 shares Portion of Cheng’s holdings from LTC’s dividend reinvestment plan

Key Terms

Restricted stock grant, dividend reinvestment plan, annual meeting of stockholders

3 terms

Restricted stock grant financial

"Restricted stock grant. Shares vest upon the earlier to occur of (i) the one-year anniversary..."

A restricted stock grant is an award of company shares given to an employee or executive that cannot be sold or transferred until certain conditions are met, such as staying with the company for a set time or hitting performance goals. For investors, it signals how the company ties pay to future performance and can affect the number of shares outstanding and management’s incentives—think of it as a wrapped gift you only keep once you meet the requirements.

dividend reinvestment plan financial

"Includes 1,136 shares acquired under LTC Properties, Inc'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.

annual meeting of stockholders financial

"the date of the next annual meeting of stockholders."

FAQ

What did LTC (LTC PROPERTIES INC) director Cornelia Cheng report on this Form 4?

Director Cornelia Cheng reported receiving a grant of 3,077 shares of LTC Properties common stock as a restricted stock award at $39.00 per share. This is a compensation-related acquisition, not an open-market purchase, and increases her direct holdings to 21,409 shares.

How many LTC Properties shares did Cornelia Cheng acquire and at what price?

Cornelia Cheng acquired 3,077 shares of LTC Properties common stock through a restricted stock grant priced at $39.00 per share. This transaction reflects a grant or award, rather than a traditional market trade, and forms part of her director equity compensation.

What are the vesting terms of Cornelia Cheng’s LTC restricted stock grant?

The 3,077 restricted shares granted to Cornelia Cheng vest upon the earlier of the one-year anniversary of the original award date or the date of LTC Properties’ next annual meeting of stockholders. Until vesting, the shares are subject to the grant’s restriction conditions.

How many LTC shares does Cornelia Cheng own after this grant?

After the restricted stock grant, Cornelia Cheng directly owns 21,409 shares of LTC Properties common stock. This total includes 1,136 shares previously acquired under LTC Properties, Inc.’s dividend reinvestment plan, as disclosed in the Form 4 footnotes.

Does this LTC Form 4 show an open-market buy or a compensation grant?

This Form 4 shows a compensation grant, not an open-market buy. The 3,077 LTC Properties shares reported were received as a restricted stock award classified as a grant, award, or other acquisition, with vesting tied to time and the next annual stockholder meeting.

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Accepted by SEC EDGAR 05/22/2026 - 07:28 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^*

Cheng Cornelia

(Last) (First) (Middle)

3011 TOWNSGATE ROAD

SUITE 220

(Street)

WESTLAKE VILLAGE CALIFORNIA 91361

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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 Stock	05/20/2026		A(1)		3,077	A	$39	21,409(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. Restricted stock grant. Shares vest upon the earlier to occur of (i) the one-year anniversary of the original date of award, and (ii) the date of the next annual meeting of stockholders.

2. Includes 1,136 shares acquired under LTC Properties, Inc's dividend reinvestment plan.

	/s/ Cornelia Cheng	05/22/2026
	** 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)