National Healthcare Properties (NHP) director granted 7,446 LTIP Units
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
National Healthcare Properties, Inc. director Leslie D. Michelson received a grant of 7,446 LTIP Units on May 15, 2026 as equity compensation. These LTIP Units will vest on May 15, 2027, subject to his continued service through that date.
After vesting and certain events, each LTIP Unit can be converted into an OP Unit and then redeemed for cash or, at the company’s election, one share of common stock or its cash value on a one-for-one basis. Following this grant, Michelson holds 19,946 LTIP Units and 95,971 shares of common stock directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
MICHELSON LESLIE D
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | LTIP Units | 7,446 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
LTIP Units — 19,946 shares (Direct, null);
Common Stock — 95,971 shares (Direct, null)
Footnotes (1)
- Following the occurrence of certain events and upon vesting, the LTIP Units are convertible by National Healthcare Properties, Inc. (the "Issuer") into an equivalent number of units of National Healthcare Properties Operating Partnership, L.P. ("OP Units"). OP Units are redeemable by the Reporting Person for cash or, at the election of the Issuer, shares of common stock of the Issuer on a one-for-one basis or the cash value of such shares. LTIP Units do not have expiration dates. The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P. The LTIP Units will vest on May 15, 2027, subject to the recipient's continued service through the applicable vesting date.
Key Figures
LTIP Units granted: 7,446 units
LTIP Units after grant: 19,946 units
Common stock held: 95,971 shares
+3 more
6 metrics
LTIP Units granted
7,446 units
Grant on May 15, 2026
LTIP Units after grant
19,946 units
Holdings following transaction
Common stock held
95,971 shares
Direct ownership following transaction
LTIP vesting date
May 15, 2027
Vesting subject to continued service
Conversion ratio
1 LTIP/OP Unit : 1 share
Redeemable for cash or one share of common stock
Exercise/issue price
$0.00 per LTIP Unit
Grant, award, or other acquisition
Key Terms
LTIP Units, OP Units, limited partnership units, vesting
4 terms
LTIP Units financial
"The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P."
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
OP Units financial
"LTIP Units are convertible by National Healthcare Properties, Inc. into an equivalent number of units of National Healthcare Properties Operating Partnership, L.P. ("OP Units")."
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
limited partnership units financial
"The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P."
Limited partnership units are ownership shares in a partnership where most investors act as passive partners with liability limited to what they invested. They represent a right to a portion of the partnership's income and capital, while day-to-day control is handled by an active manager; think of it like owning a condo unit in a building run by a management company. Investors care because the units determine how much income they receive and how exposed they are to business risks.
vesting financial
"The LTIP Units will vest on May 15, 2027, subject to the recipient's continued service through the applicable vesting date."
Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.
FAQ
What did NHP director Leslie D. Michelson report on this Form 4?
Leslie D. Michelson reported receiving a grant of 7,446 LTIP Units as equity compensation. These units relate to National Healthcare Properties’ operating partnership and are tied to future vesting and potential conversion into common stock or cash.
How many LTIP Units were granted to the NHP director and when?
Michelson was granted 7,446 LTIP Units on May 15, 2026. This award is part of his compensation and increases his total LTIP Unit holdings to 19,946, as reported after the transaction in the Form 4 filing.
When do Leslie D. Michelson’s NHP LTIP Units vest?
The LTIP Units will vest on May 15, 2027, if Michelson continues to serve through that date. Vesting is a key condition that must be met before the units can be converted or redeemed under the partnership structure.
How can NHP LTIP Units ultimately be converted or redeemed?
After vesting and certain events, the LTIP Units convert into OP Units, which can be redeemed for cash or, at the company’s election, shares of National Healthcare Properties common stock on a one-for-one basis, or the cash value of those shares.
Do the NHP LTIP Units reported have an expiration date?
The LTIP Units reported do not have expiration dates. Instead, their key features are vesting on May 15, 2027, and the ability after certain events to convert into OP Units and then be redeemed for cash or common stock.