Welltower director converts 2,627 OP Units
Welltower Inc. director Kenneth J. Bacon converted operating partnership units into common stock in a routine equity event.
Rhea-AI Filing Summary
Welltower Inc. director Kenneth J. Bacon converted operating partnership units into common stock in a routine equity event. On May 1, 2026, 2,627 OP Units were exchanged for the same number of Welltower common shares at a stated price of $0.00 per share, reflecting a non-cash derivative conversion.
Following the transaction, Bacon directly held 14,306 shares of Welltower common stock. He also continued to hold 3,591 OP Units, which are described as exchangeable into common shares or their cash equivalent under prior award terms. No open-market buying or selling was reported in this filing.
Positive
- None.
Negative
- None.
Insider Trade Summary
2,627 shares exercised/converted
Exercise
2 txns
Insider
BACON KENNETH J
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | OP Units | 2,627 | $0.00 | $0.00 |
| Conversion | Common Stock | 2,627 | $0.00 | $0.00 |
Holdings After Transaction:
OP Units — 3,591 contracts (Direct);
Common Stock — 14,306 shares (Direct)
Footnotes (1)
- F1. (1) On February 23, 2023, the reporting person received an award of membership interests in Welltower OP LLC ("Welltower OP"), a subsidiary of Welltower Inc. (the "Issuer"), designated as LTIP Units ("LTIP Units"), which were subsequently converted, upon both vesting and the satisfaction of minimum allocations to the capital accounts of the LTIP Units for federal income tax purposes, into Class A Common Units in Welltower OP ("OP Units") that are exchangeable for shares of common stock, par value $1.00 per share ("Common Shares"), of the Issuer or the equivalent cash value of Common Shares, as determined by the Issuer. On May 1, 2026, these OP Units were exchanged for Common Shares.
Key Figures
Common shares acquired via conversion: 2,627 shares
Common shares held after transaction: 14,306 shares
OP Units converted: 2,627 OP Units
+2 more
5 metrics
Common shares acquired via conversion
2,627 shares
Exchanged from OP Units on May 1, 2026
Common shares held after transaction
14,306 shares
Direct ownership following May 1, 2026 conversion
OP Units converted
2,627 OP Units
Derivative securities exchanged into common stock
OP Units remaining
3,591 OP Units
Direct holdings after the reported conversion
Transaction price per share
$0.00 per share
Non-cash derivative conversion code C
Key Terms
LTIP Units, OP Units, Class A Common Units, derivative security, +1 more
5 terms
LTIP Units financial
"received an award of membership interests in Welltower OP LLC ("Welltower OP"), a subsidiary ... designated as LTIP Units ("LTIP Units")"
LTIP units are awards given to executives and employees as part of a long-term incentive plan; they act like deferred bonuses that convert into company shares or cash only if the business meets set performance or time requirements. Investors care because LTIP units tie management pay to future results, can increase the number of outstanding shares (dilution) when they vest, and create ongoing compensation expense that can affect earnings and shareholder value.
OP Units financial
"converted ... into Class A Common Units in Welltower OP ("OP Units") that are exchangeable for shares"
OP units are ownership stakes in an operating partnership that sits beneath a public parent company, commonly used by real estate and energy firms to hold assets and distributions. Think of them like special shares in a subsidiary: they give economic rights to profits and cash payouts but are structured differently from the parent’s common stock, so investors watch OP unit issuance because it can change the effective ownership, future distributions, and potential dilution of the parent company’s equity.
Class A Common Units financial
"converted, upon both vesting and the satisfaction of minimum allocations ... into Class A Common Units in Welltower OP"
derivative security financial
"transaction_code_description": "Conversion of derivative security""
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Welltower (WELL) director Kenneth J. Bacon report in this Form 4?
Kenneth J. Bacon reported a conversion of 2,627 OP Units into 2,627 Welltower common shares. This was a non-cash derivative conversion, not an open-market trade, and reflects the exchange rights attached to previously granted LTIP and OP Unit awards.
What happened to Kenneth J. Bacon’s OP Units in Welltower OP LLC?
On May 1, 2026, 2,627 OP Units were exchanged for 2,627 Welltower common shares. After this exchange, Bacon still directly holds 3,591 OP Units, which the footnote describes as exchangeable for common shares or their equivalent cash value, at the issuer’s determination.
Was the Welltower (WELL) Form 4 transaction a market purchase or sale?
No. The Form 4 shows a conversion of a derivative security, coded “C”, with a price per share of $0.00. This indicates a non-cash exchange of OP Units into common stock, rather than an open-market purchase or sale of Welltower shares.
What are LTIP Units and OP Units referenced in the Welltower (WELL) filing?
The footnote explains that LTIP Units in Welltower OP LLC were awarded in 2023 and later converted into Class A OP Units. These OP Units are exchangeable for Welltower common shares or equivalent cash value, and 2,627 such units were exchanged on May 1, 2026.
Does the Welltower (WELL) Form 4 mention any remaining derivative awards for Kenneth J. Bacon?
The filing’s derivative summary is empty, indicating no additional derivative positions reported beyond the OP Units table. However, it shows Bacon continues to directly hold 3,591 OP Units, which are classified as derivative securities exchangeable into Welltower common shares or cash.
AI-generated analysis. How Rhea-AI works. Not financial advice.
