[Form 4] Ventas, Inc. Insider Trading Activity

Ventas (VTR) disclosed a Form 4 for Debra A. Cafaro, its Chairman and CEO.

Rhea-AI Filing Summary

Ventas (VTR) disclosed a Form 4 for Debra A. Cafaro, its Chairman and CEO. On 10/20/2025, she exercised stock options for 185,283 shares at $62.22 and 34,232 shares at $65.45, then sold the underlying shares at a weighted average price of $71.3227 under a Rule 10b5-1 plan entered into on March 28, 2024. The sales occurred in multiple transactions between $71.00 and $71.50. After these transactions, she directly beneficially owned 1,145,695 shares and held 451,450 unexercised options.

Insider Trade Summary

Exercise and Sale: 219,515 shares ($1.89M approx. pre-tax spread)

Exercise and Sale 6 txns

Insider CAFARO DEBRA A

Role Chairman and CEO

Sold 219,515 shs ($15.66M)

Approx. gross sale proceeds $15.66M

Approx. exercise cost $13.77M

Approx. pre-tax spread $1.89M

Type	Security	Shares	Price	Value
Exercise	Stock Option (Right to Buy)	185,283	$0.00	$0.00
Exercise	Stock Option (Right to Buy)	34,232	$0.00	$0.00
Exercise	Common Stock	185,283	$62.22	$11.53M
Sale	Common Stock	185,283	$71.3227	$13.21M
Exercise	Common Stock	34,232	$65.45	$2.24M
Sale	Common Stock	34,232	$71.3227	$2.44M

Holdings After Transaction: Stock Option (Right to Buy) — 937,132 contracts (Direct); Common Stock — 1,145,695 shares (Direct)

Footnotes (5)

1. F1. The transaction involved the exercise of fully vested options scheduled to expire in the next 15 months and the sale of the underlying shares net of the exercise price and taxes, all pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on March 28, 2024.
2. F2. The price reported is a weighted average price. These shares were sold by the Reporting Person in multiple transactions at prices ranging from $71.00 to $71.50, inclusive. The Reporting Person undertakes to provide Issuer, any security holder of Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. The transaction involved the exercise of fully vested options scheduled to expire in the next 7 months and the sale of the underlying shares net of the exercise price and taxes, all pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on March 28, 2024.
4. F4. Fully vested.
5. F5. Represents total number of unexercised options to purchase shares of Issuer's Common Stock held by the Reporting Person.

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Accepted by SEC EDGAR 10/22/2025 - 06:47 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).

X

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^*

CAFARO DEBRA A

(Last) (First) (Middle)

C/O VENTAS, INC.

300 NORTH LASALLE ST., SUITE 1600

(Street)

CHICAGO IL 60654

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ventas, Inc. [ VTR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman and CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/20/2025

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	10/20/2025		M		185,283(1)	A	$62.22	1,330,978	D
Common Stock	10/20/2025		S		185,283(1)	D	$71.3227(2)	1,145,695	D
Common Stock	10/20/2025		M		34,232(3)	A	$65.45	1,179,927	D
Common Stock	10/20/2025		S		34,232(3)	D	$71.3227(2)	1,145,695	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
Stock Option (Right to Buy)	$62.22	10/20/2025		M			185,283(1)	01/18/2017(4)	01/18/2027	Common Stock	185,283	$0	485,682(5)	D
Stock Option (Right to Buy)	$65.45	10/20/2025		M			34,232(3)	05/04/2016(4)	05/04/2026	Common Stock	34,232	$0	451,450(5)	D

Explanation of Responses:

1. The transaction involved the exercise of fully vested options scheduled to expire in the next 15 months and the sale of the underlying shares net of the exercise price and taxes, all pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on March 28, 2024.

2. The price reported is a weighted average price. These shares were sold by the Reporting Person in multiple transactions at prices ranging from $71.00 to $71.50, inclusive. The Reporting Person undertakes to provide Issuer, any security holder of Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The transaction involved the exercise of fully vested options scheduled to expire in the next 7 months and the sale of the underlying shares net of the exercise price and taxes, all pursuant to a Rule 10b5-1 trading plan entered into by the Reporting Person on March 28, 2024.

4. Fully vested.

5. Represents total number of unexercised options to purchase shares of Issuer's Common Stock held by the Reporting Person.

Remarks:

	Debra A. Cafaro By: /s/ Kenneth Hagan, Attorney-In-Fact	10/22/2025
	** 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.