NATIONAL HEALTH INVESTORS (NYSE: NHI) director exercises 10,000 options, withholds shares for taxes

Rhea-AI Filing Summary

NATIONAL HEALTH INVESTORS INC director James R. Jobe exercised stock options for 10,000 shares of common stock on February 17, 2026. The options, labeled “Stock Option (Right to Buy) 2025,” covered 10,000 shares at a reported exercise price of $0.0000 per option.

The exercise resulted in 10,000 shares of Common Stock - Jointly held with spouse at $73.34 per share, increasing this joint holding to 41,555 shares. To cover the exercise price or tax obligations, 8,058 jointly held shares were disposed of at $91.02 per share under a tax-withholding transaction, reducing the joint position to 33,497 shares. A separate Common Stock - IRA SEP account is reported with 500 shares following the transactions.

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

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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^*

Jobe James R

(Last) (First) (Middle)

2058 ALEXANDER BLVD.

(Street)

MURFREESBORO TN 37130

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

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 - Jointly held with spouse	02/17/2026		M		10,000	A	$73.34	41,555	D
Common Stock - Jointly held with spouse	02/17/2026		F		8,058	D	$91.02	33,497	D
Common Stock - IRA SEP								500	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) 2025	$73.34	02/17/2026		M			10,000	03/03/2025	03/03/2030	Common Stock	10,000	$0	0	D

Explanation of Responses:

	/s/ Kimberly V. Ouimet, by limited power of attorney	02/18/2026
	** 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.

FAQ

What did NHI director James R. Jobe do in this Form 4 filing?

James R. Jobe exercised options for 10,000 shares of NATIONAL HEALTH INVESTORS INC common stock. He then reported tax-related share dispositions and updated holdings in jointly held and IRA SEP accounts, all dated February 17, 2026.

How many NHI shares did James R. Jobe acquire through option exercise?

He exercised a “Stock Option (Right to Buy) 2025” covering 10,000 shares of NATIONAL HEALTH INVESTORS INC common stock. These shares were reflected as Common Stock - Jointly held with spouse after the derivative exercise transaction on February 17, 2026.

What tax-related share disposition was reported by James R. Jobe for NHI?

The filing shows a tax-withholding disposition of 8,058 shares of NATIONAL HEALTH INVESTORS INC common stock. These jointly held shares were disposed of at $91.02 per share to satisfy exercise price or tax obligations tied to the option exercise.

What are James R. Jobe’s NHI holdings after these transactions?

After the reported transactions, jointly held NHI common stock totaled 33,497 shares. In addition, a Common Stock - IRA SEP account is disclosed with 500 shares following the February 17, 2026 reporting date.

Were the NHI transactions by James R. Jobe open-market buys or sells?

The transactions were primarily an option exercise and a tax-withholding disposition. The code “M” reflects derivative exercise, while the code “F” indicates shares delivered to cover exercise price or tax liability, rather than an ordinary market sale.

What transaction codes are used in James R. Jobe’s NHI Form 4?

The Form 4 uses code M for “Exercise or conversion of derivative security” related to 10,000 options, and code F for “Payment of exercise price or tax liability by delivering securities” for 8,058 common shares, plus a holding entry for an IRA SEP account.