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[Form 4] NATIONAL HEALTH INVESTORS INC Insider Trading Activity

Filing Impact
(Very High)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

National Health Investors CFO John L. Spaid exercised stock options for 8,500 shares of common stock on February 23, 2026. The options converted into common shares at a reported price of $57.7600 per share.

To cover taxes related to these equity events, Spaid disposed of 6,312 shares of common stock and an additional 236 restricted shares at a reported price of $90.0300 per share, described as tax-withholding dispositions. Following these transactions, he directly owned 50,633.6372 shares of National Health Investors common stock.

Positive

  • None.

Negative

  • None.
Insider Spaid John L
Role CFO/EVP Finance
Type Security Shares Price Value
Exercise Stock Option (Right to Buy) 2024 8,500 $0.00 $0.00
Exercise Common Stock 8,500 $57.76 $491K
Exercise Price or Tax Liability Common Stock 6,312 $90.03 $568K
Exercise Price or Tax Liability Common Stock 236 $90.03 $21K
Holdings After Transaction: Stock Option (Right to Buy) 2024 — 0 shares (Direct); Common Stock — 50,633.6372 shares (Direct)
Footnotes (1)
  1. F1. Reflects the disposition of 236 restricted shares upon vesting on February 23, 2026 for the settlement of taxes.

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Form 4 Insider Transactions: What Each Field Means →
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*
Spaid John L
(Last) (First) (Middle)
222 ROBERT ROSE DRIVE
(Street)
MURFREESBORO TN 37129
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
NATIONAL HEALTH INVESTORS INC [ NHI ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
CFO/EVP Finance
3. Date of Earliest Transaction (Month/Day/Year)
02/23/2026
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 02/23/2026 M 8,500 A $57.76 57,181.6372 D
Common Stock 02/23/2026 F 6,312 D $90.03 50,869.6372 D
Common Stock 02/23/2026 F 236(1) D $90.03 50,633.6372 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
Stock Option (Right to Buy) 2024 $57.76 02/23/2026 M 8,500 02/23/2026 02/23/2029 Common Stock 8,500 $0 0 D
Explanation of Responses:
1. Reflects the disposition of 236 restricted shares upon vesting on February 23, 2026 for the settlement of taxes.
/s/ Kimberly V. Ouimet, by limited power of attorney 02/25/2026
** 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.

Source: View Original Filing on SEC EDGAR