Welcome to our dedicated page for National Health Investors SEC filings (Ticker: NHI), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
National Health Investors, Inc. (NHI) filings document the disclosures of a self-managed healthcare and senior housing REIT. Its regulatory record includes Form 8-K reports for investor presentations, supplemental financial information, material events, executive-transition governance matters and equity distribution agreements, along with registration materials tied to common stock offerings.
Proxy materials cover board matters, executive compensation and shareholder voting topics. NHI filings also describe its Real Estate Investments and SHOP segments, capital structure, NYSE-listed common stock, lease and interest-income exposures, development and construction risks, tenant, manager and borrower performance, environmental matters and other risk factors affecting senior housing and medical facility investments.
National Health Investors Inc ownership disclosure: Vanguard Capital Management reports beneficial ownership of 2,475,671 shares of Common Stock, representing 5.11% of the class. The filing states Vanguard has sole dispositive power over 2,475,671 shares and sole voting power over 391,051 shares. The ownership reflects holdings managed across Vanguard affiliates and funds and was signed April 30, 2026.
National Health Investors Inc reported that Vanguard Portfolio Management beneficially owned 4,165,449 shares of Common Stock, representing 8.6% of the class as of 03/31/2026. The filing states Vanguard Portfolio Management has sole dispositive power over 4,165,449 shares and sole voting power over 23,233 shares. The Schedule 13G was signed on 04/29/2026 by Ashley Grim.
National Health Investors, Inc. announced a planned chief financial officer transition. John L. Spaid, Executive Vice President of Finance, Chief Financial Officer and Treasurer, will retire effective July 1, 2026, and his retirement is stated not to result from any disagreement with the company.
Todd Siefert, 52, will join as Executive Vice President Corporate Finance on June 1, 2026 and become Chief Financial Officer upon Mr. Spaid’s retirement. Siefert brings more than 25 years of corporate finance and capital markets experience, including senior roles at publicly traded REITs and responsibility for over $8.0 billion in capital markets transactions.
Siefert’s compensation includes a $500,000 annual base salary, a prorated 2026 cash incentive with a maximum of $490,000, and a prorated 2026 equity award with an aggregate target value of $437,500, split equally between time-based restricted stock and performance-based restricted stock units. He will also receive a $100,000 signing bonus and a one-time option grant for 50,000 shares vesting over two years.
A Transition Agreement and General Release with Mr. Spaid provides for vesting of certain restricted stock, continued vesting and exercisability of all outstanding options, medical premium payments through December 31, 2026 if elected, a prorated 2026 bonus, and a six-month non-compete and non-solicitation period following retirement.
National Health Investors, Inc. amended a prior current report to correct the date it entered into a Purchase and Sale Agreement with National HealthCare Corporation affiliates and reaffirm details of a major asset sale.
The company agreed to sell 32 skilled nursing facilities and three independent living facilities for $560 million, payable at closing. NHC currently leases these 35 properties under a master lease and will acquire the real estate on an “as is, where is” basis, assuming risk of loss before closing. The purchaser must post a $5 million initial deposit and an additional $15 million after a review period, while NHI will post a $20 million seller liquidated damages deposit, all subject to detailed termination and refund provisions.
The transaction is expected to close in the third quarter of 2026, with the press release indicating an anticipated closing around July 1, 2026, subject to customary conditions including antitrust clearance and no financing contingencies. NHI’s investor materials state that the sale is intended to strengthen its balance sheet, reduce skilled nursing exposure, increase its focus on private-pay senior housing, and lower net debt-to-annualized EBITDA to about 2.3x with approximately $1.4 billion of available liquidity. The 35 properties generated about $39.7 million of cash lease revenue in 2025, and NHI expects to use net proceeds to repay debt and fund new investments, potentially including tax-deferred Section 1031 exchanges.
National Health Investors, Inc. agreed to sell 32 skilled nursing facilities and three independent living facilities to current lessee National HealthCare Corporation affiliates for $560 million. The 35 properties generated about $39.7 million of cash lease revenue in 2025.
Proceeds are expected to be used mainly to repay debt and fund new investments, including possible Section 1031 exchanges. On a pro forma basis, the company expects its private-pay senior housing operating portfolio to represent about 22.0% of total investments and 13.8% of annualized NOI, while skilled nursing exposure falls to roughly 12.2% of investments and 16.5% of NOI.
The transaction is expected to reduce net debt-to-annualized EBITDA to approximately 2.3x and increase available liquidity to about $1.4 billion. Closing is targeted around July 1, 2026, subject to customary conditions and Hart-Scott-Rodino clearance. A special committee of independent directors reviewed and unanimously approved the deal.
National Health Investors reports 2025 operating and strategic progress while publishing its Annual Report on Form 10-K. Net income per diluted share declined 3.5% versus 2024, but underlying operating measures improved: NFFO per share rose 10.6% and FAD rose 13.7%. Total revenues were $375.6 million, up 12.1%.
SHOP expansion drove results: SHOP NOI rose ~57% with 7.6% same-store growth as SHOP grew from 15 to 26 properties and now represents ~$740 million of investment. Management highlights a strong pipeline (~$488 million), leverage below 4.0x net debt to adjusted EBITDA, substantial liquidity, and continued board refreshment and governance updates.
National Health Investors, Inc. is asking stockholders to elect seven directors, approve executive pay on an advisory basis, and ratify BDO USA as auditor at its May 27, 2026 hybrid annual meeting. The proxy highlights 2025 results, with Normalized FFO per share up 10.6% to $4.91 and Normalized FAD up 13.7% to $232.1 million, both above initial guidance. Nareit FFO per share rose 2.2% to $4.65, while 2025 TSR increased 15.7%, with three‑ and five‑year TSR of 72.9% and 47.7%. The company completed $392.4 million of investments at an average 8.08% yield and grew SHOP NOI 57.2% to $19.1 million, as net debt to adjusted EBITDA improved to 3.8x. Governance changes include declassifying the board, expanding to nine directors then reducing to seven nominees, raising female representation to 43%, updating key governance documents, and enhancing pay‑for‑performance through capped annual incentives and a more performance‑weighted long‑term equity program.
NATIONAL HEALTH INVESTORS INC updated an insider ownership report for SVP, Legal Affairs Elizabeth Jackson Blankenship to reflect a previously omitted stock option grant. The amendment shows three tranches of stock options, each with an exercise price of $73.34 per share and expiring on March 3, 2030.
The options relate to underlying Common Stock in amounts of 8,333, 8,333 and 8,334 shares, with exercisability dates on March 3, 2025, March 3, 2026 and March 3, 2027, respectively. The footnote explains the grant was inadvertently omitted from the original Form 3 and is held directly.
PASCOE KEVIN CARLTON reported acquisition or exercise transactions in this Form 4 filing.
National Health Investors Inc. reported that Chief Investment Officer Kevin Carlton Pascoe received a grant of 4,726 shares of common stock on March 3, 2026, at no cash cost to him. After this compensation-related award, he directly holds 73,082 common shares.
The filing is an amended Form 4 that corrects an earlier administrative error, which had overstated the number of shares awarded on that date by 346 shares. This amendment updates the record to show the accurate number of shares granted.
Spaid John L reported acquisition or exercise transactions in this Form 4 filing.
National Health Investors Inc. reported that CFO and EVP Finance John L. Spaid received a corrected equity award of 5,072 shares of Common Stock on March 3, 2026, recorded at $0.00 per share as a compensation grant. An earlier report understated this award by 346 shares, and this amended Form 4 updates the figure. Following the grant, Spaid directly owns 56,600.637 shares of National Health Investors common stock.