[Form 4] NATIONAL HEALTHCARE CORP Insider Trading Activity

National Healthcare Corp. director Emil E. Hassan reported an option exercise that increased his direct common stock holdings.

Rhea-AI Filing Summary

National Healthcare Corp. director Emil E. Hassan reported an option exercise that increased his direct common stock holdings. On April 30, 2026, he exercised an option for 7,500 shares of common stock at an exercise price of $71.64 per share, moving those shares into direct ownership so that he now holds 73,095 shares of common stock directly.

The exercised option was the 2021 grant, which covered 7,500 underlying shares at $71.64; that option position is now fully used with zero options remaining from that grant. He also continues to hold four other option grants under the company’s equity plans, each covering 7,500 underlying shares with exercise prices of $94.66, $96.03, $55.75, and $69.19, expiring between 2027 and 2030. A footnote states these stock options were granted under the 2020 Omnibus Equity Incentive Plan and that the grant and exercise are exempt from Section 16(b) under Rule 16b-3(d).

Insider Trade Summary

7,500 shares exercised/converted

Exercise 6 txns

Insider HASSAN EMIL E

Role Director

Type	Security	Shares	Price	Value
Exercise	Option to Purchase Common Stock [2021 Grant]	7,500	$0.00	$0.00
Exercise	Shares of Common Stock	7,500	$71.64	$537K
holding	Option to Purchase Common Stock [2022 Grant]	--	--	--
holding	Option to Purchase Common Stock [2023 Grant]	--	--	--
holding	Option to Purchase Common Stock [2024 Grant]	--	--	--
holding	Option to Purchase Common Stock [2025 Grant]	--	--	--

Holdings After Transaction: Option to Purchase Common Stock [2021 Grant] — 0 contracts (Direct); Shares of Common Stock — 73,095 shares (Direct); Option to Purchase Common Stock [2022 Grant] — 7,500 contracts (Direct); Option to Purchase Common Stock [2023 Grant] — 7,500 contracts (Direct); Option to Purchase Common Stock [2024 Grant] — 7,500 contracts (Direct); Option to Purchase Common Stock [2025 Grant] — 7,500 contracts (Direct)

Footnotes (1)

1. F1. These stock options were granted pursuant to the 2020 Omnibus Equity Incentive Plan on May 6, 2021. The grant and exercise of these stock options are exempt from Section 16(b) pursuant to Rule 16b-3(d).

Key Figures

Options exercised: 7,500 shares Exercise price (2021 grant): $71.64/share Shares held after exercise: 73,095 shares +4 more

7 metrics

Options exercised 7,500 shares Common stock acquired via 2021 option grant exercise

Exercise price (2021 grant) $71.64/share Option to Purchase Common Stock [2021 Grant]

Shares held after exercise 73,095 shares Total direct common stock ownership following transactions

2025 grant exercise price $94.66/share Remaining option grant, expires 2030-05-07

2024 grant exercise price $96.03/share Remaining option grant, expires 2029-05-08

2023 grant exercise price $55.75/share Remaining option grant, expires 2028-05-03

2022 grant exercise price $69.19/share Remaining option grant, expires 2027-05-04

Key Terms

Option to Purchase Common Stock, derivative exercise/conversion, 2020 Omnibus Equity Incentive Plan, Section 16(b), +1 more

5 terms

Option to Purchase Common Stock financial

"security_title: "Option to Purchase Common Stock [2025 Grant]""

derivative exercise/conversion financial

"transaction_action: "derivative exercise/conversion" for code M"

2020 Omnibus Equity Incentive Plan financial

"These stock options were granted pursuant to the 2020 Omnibus Equity Incentive Plan"

Section 16(b) regulatory

"The grant and exercise of these stock options are exempt from Section 16(b)"

A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.

Rule 16b-3(d) regulatory

"exempt from Section 16(b) pursuant to Rule 16b-3(d)"

Rule 16b-3(d) is a narrow SEC safe-harbor that shields company insiders (officers, directors and large shareholders) from liability for short‑swing profits when their buys or sells of company stock are made under a pre-established, written plan or contract that removes the insider’s ability to time trades. For investors, this matters because it permits predictable, automated insider transactions — like scheduled sales for diversification or payroll withholding — without triggering forced disgorgement, so such planned trades are treated differently from opportunistic insider trading.

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

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Accepted by SEC EDGAR 05/01/2026 - 04:45 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^*

HASSAN EMIL E

(Last) (First) (Middle)

100 VINE STREET

(Street)

MURFREESBORO TENNESSEE 37130

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
NATIONAL HEALTHCARE CORP [ NHC ]

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)
04/30/2026

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
Shares of Common Stock	04/30/2026		M		7,500(1)	A	$71.64	73,095	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
Option to Purchase Common Stock [2021 Grant]	$71.64	04/30/2026		M			7,500(1)	05/06/2022	05/05/2026	Common Stock	7,500	$0	0	D
Option to Purchase Common Stock [2022 Grant]	$69.19							05/05/2023	05/04/2027	Common Stock	7,500		7,500	D
Option to Purchase Common Stock [2023 Grant]	$55.75							05/04/2024	05/03/2028	Common Stock	7,500		7,500	D
Option to Purchase Common Stock [2024 Grant]	$96.03							05/09/2025	05/08/2029	Common Stock	7,500		7,500	D
Option to Purchase Common Stock [2025 Grant]	$94.66							05/08/2026	05/07/2030	Common Stock	7,500		7,500	D

Explanation of Responses:

1. These stock options were granted pursuant to the 2020 Omnibus Equity Incentive Plan on May 6, 2021. The grant and exercise of these stock options are exempt from Section 16(b) pursuant to Rule 16b-3(d).

	/s/ Emil E. Hassan	05/01/2026
	** 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)