[Form 4] Ventas, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Ventas, Inc. (VTR) Chair and CEO Debra A. Cafaro reported an option exercise and related share sale. On 11/17/2025, she exercised a stock option to buy 41,294 shares of common stock at an exercise price of $73.71 per share, then sold the same 41,294 shares at a weighted average price of $79.0075 per share. The filing states the transactions were made under a Rule 10b5-1 trading plan entered into on March 28, 2024 and involved options that were fully vested and scheduled to expire in the next 9 months. After these transactions, she directly beneficially owned 1,145,695 shares of common stock and held 41,288 unexercised stock options.

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).

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)
11/17/2025

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	11/17/2025		M		41,294(1)	A	$73.71	1,186,989	D
Common Stock	11/17/2025		S		41,294(1)	D	$79.0075(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)	$73.71	11/17/2025		M			41,294(1)	08/03/2016(3)	08/03/2026	Common Stock	41,294	$0	41,288(4)	D

Explanation of Responses:

1. The transaction involved the exercise of fully vested options scheduled to expire in the next 9 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 $79.00 to $79.1703, 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. Fully vested.

4. 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	11/19/2025
	** 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 insider transaction did VTR CEO Debra Cafaro report on this Form 4?

Debra A. Cafaro reported exercising a stock option for 41,294 shares of Ventas, Inc. (VTR) common stock at $73.71 per share and selling the same 41,294 shares at a weighted average price of $79.0075 per share on 11/17/2025.

How many Ventas (VTR) shares does Debra Cafaro own after this transaction?

After the reported transactions, Debra A. Cafaro directly beneficially owned 1,145,695 shares of Ventas, Inc. common stock.

What stock options does the Ventas CEO still hold after the Form 4 transactions?

Following the exercise and sale, Debra A. Cafaro held 41,288 unexercised stock options to purchase shares of Ventas, Inc. common stock.

At what prices were Debra Cafaros Ventas (VTR) transactions reported?

The stock option was exercised at an exercise price of $73.71 per share, and the 41,294 shares sold were reported at a weighted average price of $79.0075 per share, with individual sales ranging from $79.00 to $79.1703.

Was the Ventas (VTR) CEO transaction made under a Rule 10b5-1 trading plan?

Yes. The filing states the option exercise and sale of underlying shares were carried out pursuant to a Rule 10b5-1 trading plan entered into by Debra A. Cafaro on March 28, 2024.

What options were exercised in this Ventas (VTR) Form 4 filing?

The transaction involved fully vested stock options to purchase 41,294 shares of Ventas common stock at $73.71 per share, originally granted on 08/03/2016 and expiring on 08/03/2026, which were scheduled to expire in the next 9 months.

What role does Debra Cafaro hold at Ventas (VTR) according to this filing?

According to the filing, Debra A. Cafaro is a Director and serves as Chairman and CEO of Ventas, Inc.