Ltc Properties Inc 8-K, filed Oct 5, 2022
Ltc Properties Inc (LTC)
About this 8-K
Ltc Properties Inc filed this 8-K on October 5, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20459
FORM
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. — Other Events
Wendy L. Simpson, Chairman and Chief Executive Officer of LTC Properties, Inc. (the “Company”), previously entered into a pre-arranged trading plan (“the 10b5-1 Plan”) pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934 and the Company’s policies with respect to insider transactions.
Rule 10b5-1 provides that executives and other insiders may sell the securities of publicly traded companies on a regular basis pursuant to written plans that are entered into in good faith at a time when the plan participants are not aware of material non-public information and that otherwise comply with the requirements of Rule 10b5-1.
Under the 10b5-1 Plan, a broker-dealer is authorized to sell up to 83,672 shares of common stock of the Company owned by Ms. Simpson over a period from October 7, 2022 through November 1, 2022 or until all such shares are sold, unless the Plan is terminated earlier pursuant to its terms. If all shares covered by the 10b5-1 Plan are sold, Ms. Simpson’s ownership of common stock of the Company will still substantially exceed the level required under the Company’s stock ownership guidelines.
The purpose of the 10b5-1 Plan is to provide liquidity and investment diversification. In accordance with Rule 10b5-1, Ms. Simpson will have no discretion over the sales of her shares of common stock under the 10b5-1 Plan. Any sales under the 10b5-1 Plan will be disclosed publicly through appropriate filings with the Securities and Exchange Commission.
Except as may be required by law, the Company does not undertake to report Rule 10b5-1 plans that may be adopted by any officers or directors in the future, or to report any modifications or termination of any publicly announced trading plan.
SIGNATURE
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
| LTC PROPERTIES, INC. | ||
| Dated: October 5, 2022 | By: | /s/ Pamela Kessler |
| Pamela Kessler | ||
| Co-President, Chief Financial Officer and Secretary | ||