Omega Healthcare Investors (OHI) discloses President’s PIU and OP Unit activity

Rhea-AI Filing Summary

Omega Healthcare Investors reported insider equity award activity for its President on a Form 4. On 12/31/2025, several tranches of Profits Interest Units (PIUs) in OHI Healthcare Properties Limited Partnership vested into OP Units, and OP Units were converted into common stock at an exercise price of $0 per unit. The derivative table shows vesting and conversions involving 11,627, 12,042 and 15,408 units or shares in multiple entries. The PIUs are performance- and time-based awards tied to Absolute and Relative Total Shareholder Return for the 2022–2024 period and a three-year time-based schedule, all subject to continued employment and potential accelerated vesting under certain circumstances.

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

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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^*

Gourmand Matthew Paul

(Last) (First) (Middle)

303 INTERNATIONAL CIRCLE

SUITE 200

(Street)

HUNT VALLEY MD 21030

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
OMEGA HEALTHCARE INVESTORS INC [ OHI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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

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
Profits Interest Units	(1)(2)	12/31/2025		M			11,627	(3)	(3)	OP Units	11,627	$0	63,483	D
Profits Interest Units	(1)(2)	12/31/2025		M			12,042	(4)	(4)	OP Units	12,042	$0	51,441	D
Profits Interest Units	(1)(2)	12/31/2025		M			15,408	(5)	(5)	OP Units	15,408	$0	36,033	D
OP Units	(2)	12/31/2025		M		11,627		(2)	(2)	Common Stock	11,627	$0	163,943	D
OP Units	(2)	12/31/2025		M		12,042		(2)	(2)	Common Stock	12,042	$0	175,985	D
OP Units	(2)	12/31/2025		M		15,408		(2)	(2)	Common Stock	15,408	$0	191,393	D

Explanation of Responses:

1. Represents Profits Interest Units ("PIUs") in OHI Healthcare Properties Limited Partnership (the "Operating Partnership"), of which the Issuer is the general partner. Each PIU represents a contingent right to receive one (1) unit of limited partnership interest (an "OP Unit") in the Operating Partnership upon vesting and the satisfaction of certain tax-driven economic requirements. OP Units do not expire.

2. Each OP Unit is redeemable at the election of the holder for cash equal to the then fair market value of one (1) share of Issuer common stock, or at the Issuer's election, one (1) share of Issuer common stock, subject to continued employment and accelerated vesting under certain circumstances.

3. Represents 25% of the PIUs that vesting into OP Units at the end of each calendar quarter in 2025 based on the Absolute Total Shareholder Return for the 2022-2024 performance period, subject to continued employment and accelerated vesting under certain circumstances.

4. Represents 25% of the PIUs that vesting into OP Units at the end of each calendar quarter in 2025 based on the Relative Total Shareholder Return for the 2022-2024 performance period, subject to continued employment and accelerated vesting under certain circumstances.

5. Represents PIUs subject to three-year time-based vesting into OP Units that were granted in 2023, subject to continued employment and accelerated vesting under certain circumstances.

	/s/ Meghan C. Lyons, Attorney-in-Fact	01/02/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Omega Healthcare Investors (OHI) report?

The company reported that its President had multiple Profits Interest Units vest into OP Units and OP Units convert into common stock on 12/31/2025, all at an exercise price of $0 per unit.

Who is the reporting person in this Omega Healthcare Investors Form 4?

The reporting person is an officer of Omega Healthcare Investors, serving as President, filing individually as indicated by the "Form filed by One Reporting Person" box.

What types of derivative securities are involved in the OHI Form 4 filing?

The filing involves Profits Interest Units (PIUs) and OP Units in OHI Healthcare Properties Limited Partnership, as well as the underlying common stock of Omega Healthcare Investors.

How many units or shares were shown vesting or converting in the OHI transactions?

The derivative table lists multiple entries, including tranches of 11,627, 12,042 and 15,408 PIUs or OP Units converting into OP Units or common stock on 12/31/2025.

What performance conditions apply to the Omega Healthcare Investors PIUs?

Some PIUs vest into OP Units based on Absolute Total Shareholder Return and Relative Total Shareholder Return for the 2022–2024 performance period, subject to continued employment and possible accelerated vesting.

What are OP Units and how are they related to OHI common stock?

Each OP Unit is redeemable at the holder’s election for cash equal to the fair market value of one share of Omega Healthcare Investors common stock, or, at the issuer’s election, for one share of common stock.

Do the Omega Healthcare Investors OP Units have an expiration date?

The explanation states that OP Units do not expire, meaning they remain outstanding until redeemed or otherwise settled as described.