Insider confidence: LTC CIO acquires 10K shares around $34.6

Rhea-AI Filing Summary

Form 4 snapshot: Executive Vice President & Chief Investment Officer David M. Boitano reported open-market purchases of LTC Properties, Inc. (LTC) common stock.

• Transactions: 06/26/2025 (4,000 shares at $34.50) and two trades on 06/27/2025 (3,000 shares each at $34.62 and $34.80).
• Total acquired: 10,000 shares; weighted-average price ≈ $34.63.
• Post-trade direct ownership: 15,626 shares.

No derivative security activity was disclosed. The filing was signed on 06/30/2025.

Positive

• EVP & CIO purchased 10,000 shares, increasing direct ownership to 15,626 shares and indicating personal confidence in LTC’s prospects.

Negative

• None.

Insights

Financial Analyst

TL;DR: Small insider buy; positive signal but immaterial to valuation.

Boitano’s 10,000-share purchase suggests personal confidence, yet the dollar value (~$346k) is modest relative to LTC’s market capitalization (not disclosed here). With ownership now 15,626 shares, he still holds a limited stake, so portfolio-level impact is minimal. Nevertheless, insider buying often supports sentiment and may be viewed positively by investors monitoring management alignment.

Corporate Governance Specialist

TL;DR: Routine Form 4; governance view neutral, slight positive for alignment.

The filing shows straightforward open-market purchases coded “P,” indicating no preferential terms. There is no derivative activity and no 10b5-1 plan election marked. Such buying enhances alignment but does not alter control dynamics. From a governance standpoint, the disclosure meets Section 16 requirements and raises no red flags.

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^*

BOITANO DAVID M

(Last) (First) (Middle)

3011 TOWNSGATE RD, STE 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)
	EVP & CIO

3. Date of Earliest Transaction (Month/Day/Year)
06/26/2025

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	06/26/2025		P		4,000	A	$34.5	9,626	D
Common Stock	06/27/2025		P		3,000	A	$34.62	12,626	D
Common Stock	06/27/2025		P		3,000	A	$34.8	15,626	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:

	/s/ David M. Boitano	06/30/2025
	** 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

How many LTC shares did David M. Boitano purchase?

He bought 10,000 common shares in total.

At what prices were the LTC insider purchases made?

The shares were bought at $34.50, $34.62 and $34.80 per share.

What is Boitano’s total LTC ownership after the transactions?

His direct beneficial ownership rose to 15,626 shares.

On which dates were the LTC shares acquired?

Purchases occurred on 06/26/2025 and 06/27/2025.

What position does David M. Boitano hold at LTC Properties?

He is the company’s Executive Vice President & Chief Investment Officer.

Were any derivative securities reported in this Form 4?

No, the filing lists no derivative transactions.