NHP director granted 12,500 LTIP units

Weil Edward M Jr. reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Weil Edward M Jr. reported acquisition or exercise transactions in this Form 4 filing.

National Healthcare Properties, Inc. director Edward M. Weil Jr. received a grant of 12,500 LTIP Units on April 30, 2026. These LTIP Units are a class of limited partnership units in National Healthcare Properties Operating Partnership, L.P. and are convertible into an equivalent number of OP Units.

OP Units are redeemable for cash or, at the issuer’s election, for shares of common stock on a one-for-one basis or the cash value of such shares. The LTIP Units vest in 25% increments on each of the first four anniversaries of the grant date, subject to continued service, and LTIP Units do not have expiration dates. Following the reported transactions, Weil directly holds 3,110 shares of common stock.

Insider Trade Summary

Grant/Award: 12,500 shares

Grant/Award 2 txns

Insider Weil Edward M Jr.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	LTIP Units	12,500	$0.00	$0.00
holding	Common Stock	--	--	--

Holdings After Transaction: LTIP Units — 12,500 contracts (Direct); Common Stock — 3,110 shares (Direct)

Footnotes (3)

1. F1. 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.
2. F2. The LTIP Units will vest in 25% increments on each of the first four anniversaries of the April 30, 2026 grant date, subject to the recipient's continued service through the applicable vesting date.
3. F3. The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P.

Key Figures

LTIP Units granted: 12,500 LTIP Units Common shares held: 3,110 shares Vesting rate: 25% per year +1 more

4 metrics

LTIP Units granted 12,500 LTIP Units Grant to director Edward M. Weil Jr. on April 30, 2026

Common shares held 3,110 shares Direct NHP common stock holding after reported transactions

Vesting rate 25% per year LTIP Units vest on each of first four anniversaries of April 30, 2026

Conversion ratio 1:1 OP Units redeemable for cash or one NHP share (or cash value) per unit

Key Terms

LTIP Units, OP Units, National Healthcare Properties Operating Partnership, L.P., vesting

4 terms

LTIP Units financial

"Following the occurrence of certain events and upon vesting, the LTIP Units are convertible..."

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.

National Healthcare Properties Operating Partnership, L.P. financial

"The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P."

vesting financial

"The LTIP Units will vest in 25% increments on each of the first four anniversaries..."

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

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Edward M. Weil Jr. report in this Form 4 for NHP?

Edward M. Weil Jr., a director of National Healthcare Properties, Inc. (NHP), reported receiving a grant of 12,500 LTIP Units. These LTIP Units relate to the company’s operating partnership and can ultimately be settled in cash or common stock, subject to conditions.

How many LTIP Units were granted to the NHP director?

The director received a grant of 12,500 LTIP Units. These units are limited partnership interests in National Healthcare Properties Operating Partnership, L.P. and are designed to convert into OP Units, which can then be redeemed for cash or an equivalent number of NHP common shares or their cash value.

What is the vesting schedule for the 12,500 LTIP Units at NHP?

The 12,500 LTIP Units vest in 25% increments on each of the first four anniversaries of the April 30, 2026 grant date. Vesting is conditioned on the recipient’s continued service with National Healthcare Properties, Inc. through each applicable vesting date.

How can the LTIP Units reported by NHP’s director be converted or redeemed?

After certain events and vesting, the LTIP Units are convertible into an equivalent number of OP Units. Those OP Units are redeemable by the reporting person for cash or, at the issuer’s election, for NHP common stock on a one-for-one basis or the cash value of such shares.

Does the LTIP Unit grant for NHP’s director have an expiration date?

The filing states that LTIP Units do not have expiration dates. Instead, they become convertible following specified events and vesting, then can turn into OP Units and ultimately be redeemed for cash or common stock, subject to the terms described.

How many NHP common shares does the director hold after these transactions?

Following the reported transactions, the director directly holds 3,110 shares of NHP common stock. This holding is separate from the 12,500 LTIP Units, which are partnership units that may later convert and be redeemed for cash or common stock.

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

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Accepted by SEC EDGAR 05/04/2026 - 08:46 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^*

Weil Edward M Jr.

(Last) (First) (Middle)

C/O NATIONAL HEALTHCARE PROPERTIES, INC.

540 MADISON AVE., 27TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
National Healthcare Properties, Inc. [ NHP ]

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
Common Stock								3,110	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
LTIP Units	(1)(2)(3)	04/30/2026	(1)	A		12,500		(2)	(1)	Common Stock	12,500	$0	12,500	D

Explanation of Responses:

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.

2. The LTIP Units will vest in 25% increments on each of the first four anniversaries of the April 30, 2026 grant date, subject to the recipient's continued service through the applicable vesting date.

3. The LTIP Units are a class of limited partnership units of National Healthcare Properties Operating Partnership, L.P.

Remarks:

	/s/ Jie Chai, Attorney-in-Fact	05/04/2026
	** 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)