Sabra Health Care REIT Insider Report: 887 Dividend-Equivalent Units Credited

Rhea-AI Filing Summary

Kono Ann, a director of Sabra Health Care REIT, Inc. (SBRA), received 887 stock units on 08/29/2025 as dividend equivalent payments tied to previously granted performance-based stock units under the 2009 Performance Incentive Plan. These units were credited at no cash cost to the reporting person and will vest and be payable on the same terms as the original awards. After the transaction the reporting person beneficially owned 57,396 stock units, comprising 6,922 unvested units and 50,474 vested units for which payment has been deferred.

Positive

• Director ownership maintained: Reporting person beneficially owns 57,396 stock units, indicating continued alignment with shareholders.
• Non-cash dividend equivalents issued: 887 stock units credited under the 2009 Performance Incentive Plan with vesting tied to original awards.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received 887 dividend-equivalent stock units, modestly increasing her stake to 57,396 units; impact on ownership is limited.

The filing documents a non-cash credit of 887 stock units treated as dividend equivalents for existing performance awards. These units carry the same vesting/payable schedule as the underlying awards and therefore do not represent immediate transferable shares. The reported beneficial ownership of 57,396 units signals continued alignment with shareholders, but the incremental economic effect from 887 units is small relative to total outstanding shares of a REIT.

Corporate Governance Expert

TL;DR: Routine equity compensation reporting by a director; disclosure is timely and follows plan mechanics.

The Form 4 shows a standard issuance of dividend-equivalent units under the issuer's 2009 Performance Incentive Plan. The filing identifies the units as subject to the original awards' vesting terms and notes a portion of the reporting person's holdings are unvested while a larger portion is vested but payment-deferred. Documentation appears consistent with Section 16 reporting requirements.

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
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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^*

Kono Ann

(Last) (First) (Middle)

C/O SABRA HEALTH CARE REIT, INC.

1781 FLIGHT WAY

(Street)

TUSTIN CA 92782

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Sabra Health Care REIT, Inc. [ SBRA ]

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)
08/29/2025

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
Common Stock	08/29/2025		A		887(1)	A	$0	57,396(2)	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

Explanation of Responses:

1. Represents stock units credited to the reporting person in the form of dividend equivalent payments on stock units previously granted to the reporting person that are outstanding under the Issuer's 2009 Performance Incentive Plan, calculated on the basis of the market value of the Issuer's common stock on the dividend payment date. These units will vest and become payable on the same terms as the original stock units to which they relate.

2. Consists of 6,922 unvested stock units and 50,474 stock units that have vested but the payment of which has been deferred. Each stock unit represents the right to receive one share of the Issuer's Common Stock.

Remarks:

	/s/ Michael Costa, as Attorney-in-Fact	09/03/2025
	** 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 transaction did Kono Ann report on SBRA Form 4?

Kono Ann received 887 stock units on 08/29/2025 as dividend equivalent payments credited under the Issuer's 2009 Performance Incentive Plan.

How many SBRA units does the reporting person beneficially own after the transaction?

57,396 stock units in total, consisting of 6,922 unvested units and 50,474 vested units with deferred payment.

Were any cash payments made for the acquired units?

No cash was paid; the 887 units were credited as dividend equivalents with a reported price of $0.

Do the newly credited units vest immediately?

No. The 887 units will vest and become payable on the same terms as the original stock units to which they relate.

What plan governs these credited stock units?

The Issuer's 2009 Performance Incentive Plan governs the underlying awards and the dividend-equivalent stock units.