SEC Form 4 · accession 0001510192-16-000092
Sabra Health Care REIT, Inc. · SBRA
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Harold W. Andrews Jr.
Officer — Executive VP, CFO & Secretary
Period of report
Feb 26, 2016
Accepted (ET)
Mar 1, 2016 · 8:49 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001492298
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 26, 2016 | A | 13,308 | $0.00 | A | 236,639 | D | |
| Common StockF2 | Feb 26, 2016 | A | 11,046 | $0.00 | A | 247,685 | D | |
| Common StockF3 | Feb 26, 2016 | F | 10,350 | $19.77 | D | 237,335 | D | |
| Common StockF4 | Feb 29, 2016 | A | 885 | $0.00 | A | 238,220 | D | |
| Common StockF5,F6 | Feb 29, 2016 | F | 68 | $19.92 | D | 238,152 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Represents shares of the Issuer's Common Stock issued under the Issuer's 2009 Performance Incentive Plan subject to an annual bonus performance stock unit ("PSU") award granted on January 14, 2015, including 1,239 shares with respect to dividend equivalent payments calculated on the basis of the market value of the Issuer's Common Stock on the applicable dividend date. The Compensation Committee determined on February 26, 2016 that the number of PSUs earned was 91.1% of the target. Upon this determination, the PSUs vested immediately. Each PSU represented a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's achievement of an earnings per share target for a performance period beginning January 1, 2015 and ending December 31, 2015 and an adjusted normalized funds from operations target for a performance period beginning October 1, 2015 and ending December 31, 2015.
- F2Represents shares of the Issuer's Common Stock issued under the Issuer's 2009 Performance Incentive Plan subject to a funds from operations-based stock unit ("FFO units") award granted on December 18, 2012, including 1,714 shares with respect to dividend equivalent payments calculated on the basis of the market value of the Issuer's Common Stock on the applicable dividend date. The Compensation Committee determined on February 26, 2016 that the number of FFO units earned was 200% of the target. Upon this determination, the FFO units vested immediately. Each FFO unit represented a contingent right to receive one share of the Issuer's Common Stock, based on the Issuer's achievement of an earnings per share target for a performance period beginning January 1, 2013 and ending December 31, 2013 and a funds from operations target for a performance period beginning January 1, 2015 and ending December 31, 2015.
- F3Represents shares withheld by the Issuer in accordance with Rule 16b-3 to satisfy tax withholding obligations in connection with the vesting of the PSUs and FFO units, each as reported herein, and the vesting of time-based restricted stock units previously granted to the reporting person.
- F4Represents 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. Of these units, 179 were fully vested as of February 29, 2016.
- F5Represents shares withheld by the Issuer in accordance with Rule 16b-3 to satisfy tax withholding obligations in connection with the vested portion of the stock units described in footnote 4 above.
- F6Includes 35,026 unvested stock units that, upon vesting, will be paid on a one-for-one basis in shares of the Issuer's Common Stock.