LTC director buys shares, receives stock grant

LTC Properties director David L. Gruber increased his direct stake through both a grant and a market purchase.

Rhea-AI Filing Summary

LTC Properties director David L. Gruber increased his direct stake through both a grant and a market purchase. He received a restricted stock grant of 3,077 common shares at $39.00 per share that vest on the earlier of one year from grant or the next annual stockholder meeting. He also made an open-market purchase of 4,000 common shares at $38.41 per share. Following these transactions, he directly owns 44,045 common shares, including 664 shares acquired under LTC Properties, Inc.'s dividend reinvestment plan.

Insider Trade Summary

Net Buyer: 7,077 shares

Net Buy 2 txns

Insider Gruber David L

Role Director

Bought 4,000 shs ($154K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	4,000	$38.41	$154K
Grant/Award	Common Stock	3,077	$39.00	$120K

Holdings After Transaction: Common Stock — 44,045 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 664 shares acquired under LTC Properties, Inc's dividend reinvestment plan.

Key Figures

Restricted stock grant: 3,077 shares at $39.00/share Open-market purchase: 4,000 shares at $38.41/share Shares owned after transactions: 44,045 shares +1 more

4 metrics

Restricted stock grant 3,077 shares at $39.00/share Common Stock award to director David L. Gruber

Open-market purchase 4,000 shares at $38.41/share Common Stock purchased by David L. Gruber on open market

Shares owned after transactions 44,045 shares Total direct LTC common stock held by David L. Gruber

Dividend reinvestment holdings 664 shares Portion of holdings from LTC dividend reinvestment plan

Key Terms

restricted stock grant, dividend reinvestment plan, open-market purchase, grant, award, or other acquisition

4 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 664 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.

open-market purchase financial

"transaction_action: open-market purchase"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

grant, award, or other acquisition financial

"transaction_code_description: Grant, award, or other acquisition"

FAQ

What insider transactions did LTC (LTC PROPERTIES INC) director David L. Gruber report?

David L. Gruber reported two transactions in LTC common stock: a restricted stock grant of 3,077 shares at $39.00 per share and an open-market purchase of 4,000 shares at $38.41 per share, both increasing his direct ownership.

How many LTC PROPERTIES INC shares does David L. Gruber own after these Form 4 transactions?

After the reported transactions, David L. Gruber directly owns 44,045 LTC common shares. This total includes 3,077 shares from a restricted stock grant and 664 shares that were previously acquired under LTC Properties, Inc.'s dividend reinvestment plan.

What are the terms of David L. Gruber’s restricted stock grant in LTC stock?

The restricted stock grant to David L. Gruber covers 3,077 LTC common shares at $39.00 per share. These shares vest upon the earlier of the one-year anniversary of the original award date or the date of the next annual meeting of stockholders.

Did David L. Gruber buy LTC PROPERTIES INC shares on the open market?

Yes. David L. Gruber executed an open-market purchase of 4,000 LTC common shares at a price of $38.41 per share. This transaction is recorded on the Form 4 with the code “P,” indicating an open-market or private purchase.

How many LTC shares were acquired via dividend reinvestment in David L. Gruber’s holdings?

David L. Gruber’s total direct holdings include 664 LTC common shares acquired under LTC Properties, Inc.'s dividend reinvestment plan. This dividend reinvestment component is explicitly identified in the Form 4 footnotes describing his post-transaction ownership.

What does the Form 4 filing reveal about derivative or option positions for David L. Gruber in LTC?

The Form 4 data show no derivative transactions or remaining derivative positions for David L. Gruber. The derivative summary is empty, indicating that the reported activity relates only to non-derivative LTC common stock holdings.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/22/2026 - 07:24 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^*

Gruber David L

(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	39,970	D
Common Stock	05/21/2026		P		4,000	A	$38.41	44,045(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 664 shares acquired under LTC Properties, Inc's dividend reinvestment plan.

	/s/ David L. Gruber	05/21/2026
	** 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)