Sabra Health Care REIT Director Receives 813 Dividend-Equivalent Units

Rhea-AI Filing Summary

Jeffrey A. Malehorn, a director of Sabra Health Care REIT, Inc. (SBRA), was credited with 813 common stock units as dividend equivalents on 08/29/2025. These units were granted under the issuer's 2009 Performance Incentive Plan and carry a $0 per-unit acquisition price because they reflect dividend equivalent payments on previously granted stock units. After the transaction the reporting person beneficially owned 105,630 shares or share-equivalents in total, including 6,922 unvested stock units and 45,688 vested units for which payment has been deferred. Each stock unit corresponds to the right to one share and the credited units will vest and pay out on the same schedule as the original awards.

Insights

Corporate Governance Expert

TL;DR: Routine director compensation credit; no change to control or immediate sale activity.

The filing documents a non-cash credit of 813 dividend-equivalent stock units to a director under the company's long-standing incentive plan. This is a typical form of equity compensation that increases the director's deferred equity balance but does not represent a cash outlay or a market sale. The breakdown of holdings—6,922 unvested and 45,688 vested-but-deferred units—clarifies the mix of future vesting and deferred payout exposure.

Securities Analyst

TL;DR: Minor insider accumulation via plan mechanics; immaterial to capitalization.

The report shows an acquisition coded as dividend equivalents, recorded at $0, adding 813 units to the director's position and bringing total beneficial ownership to 105,630 units/shares. This transaction is administrative and compensation-related rather than market-driven, implying limited immediate impact on share supply or investor valuation metrics.

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^*

Malehorn Jeffrey A.

(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		813(1)	A	$0	105,630(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. Includes 6,922 unvested stock units and 45,688 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 did SBRA director Jeffrey A. Malehorn report on Form 4?

The director was credited with 813 common stock units as dividend equivalents on 08/29/2025, increasing his beneficial ownership to 105,630 units/shares.

Were any shares sold in this Form 4 filing for SBRA?

No. The Form 4 reports an acquisition of stock units (coded as dividend equivalents) at a $0 price; there were no disposals reported.

How many of Malehorn's stock units are unvested or deferred?

The filing states 6,922 unvested stock units and 45,688 vested units with payment deferred.

Under which plan were the credited units issued?

The units were credited under the issuer's 2009 Performance Incentive Plan as dividend equivalent payments on previously granted stock units.

Does each stock unit equal one share for SBRA?

Yes. The filing specifies that each stock unit represents the right to receive one share of the Issuer's common stock.