TRAVIS DAVID L (SVP/Chief Accounting Officer) exercised options at NATIONAL HEALTH INVESTORS INC

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 2 exercises

TRAVIS DAVID L

Filed: 9/25/2025ACC: 0000877860-25-000164

InsiderTRAVIS DAVID LCIK 1685397

→

IssuerNATIONAL HEALTH INVESTORS INCCIK 877860

Officer· SVP/Chief Accounting Officer

Since May 2020

-20.77K

Net shares

Net seller

$1.66M

Total sold

Open market trades

0B · 0S

Total transactions

23K acquired · 43.77K disposed

Non-Derivative Transactions3

Common Stock

Direct

M · Option Exercise

+11.67K

Price / share

$69.20

Trade value

$807.29K

% of position

54.1%

9/23/2025

21.55K→33.22K

Common Stock

Direct

M · Option Exercise

+11.33K

Price / share

$69.20

Trade value

$784.31K

% of position

34.1%

9/23/2025

33.22K→44.55K

Common Stock

Direct

F · Tax Withholding

−20.77K

Price / share

$80.06

Trade value

$1.66M

% of position

46.6%

9/23/2025

44.55K→23.79K

Total

Net shares

+2.23K

Net value

-$70.85K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Common Stock Direct	9/23/2025	M · Option Exercise	+11.67K	$69.20	$807.29K	54.1%	21.55K	33.22K
Common Stock Direct	9/23/2025	M · Option Exercise	+11.33K	$69.20	$784.31K	34.1%	33.22K	44.55K
Common Stock Direct	9/23/2025	F · Tax Withholding	−20.77K	$80.06	$1.66M	46.6%	44.55K	23.79K
Total			+2.23K		-$70.85K

Derivative Transactions2

Stock Options (Right to Buy) 2-25-2021

Direct

M · Option Exercise

Converts to

Common Stock

11.67K shares

−11.67K

Strike price

69.20

Held after

0.00

Exercisable

—

9/23/2025

Stock Options (Right to Buy) 2-25-2021

Direct

M · Option Exercise

Converts to

Common Stock

11.33K shares

−11.33K

Strike price

69.20

Held after

0.00

Exercisable

—

9/23/2025

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Stock Options (Right to Buy) 2-25-2021 Direct	Common Stock11.67K shares	9/23/2025	M · Option Exercise	−11.67K	69.20	—	0.00
Stock Options (Right to Buy) 2-25-2021 Direct	Common Stock11.33K shares	9/23/2025	M · Option Exercise	−11.33K	69.20	—	0.00

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)11

Stock Option (Right to Buy) 2025

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

73.34

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2023

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

54.73

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2023

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

54.73

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2023

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

54.73

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2024

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

57.76

Expiration

—

Exercise window

—

Stock Option (Right to buy) 2022

Direct

Underlying security

Common Stock

Underlying shares

9.80K

Shares owned

9.80K

Exercise price

53.41

Expiration

—

Exercise window

—

Stock Option (Right to buy) 2022

Direct

Underlying security

Common Stock

Underlying shares

2.40K

Shares owned

2.40K

Exercise price

53.41

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2024

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

57.76

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2025

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

73.34

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2024

Direct

Underlying security

Common Stock

Underlying shares

8.33K

Shares owned

8.33K

Exercise price

57.76

Expiration

—

Exercise window

—

Stock Option (Right to Buy) 2025

Direct

Underlying security

Common Stock

Underlying shares

10K

Shares owned

10K

Exercise price

73.34

Expiration

—

Exercise window

—

Total

Underlying

92.20K

Owned

92.20K

Security	Underlying	Exercise Price	Exercise Window	Expiration	Underlying Shares	Shares Owned
Stock Option (Right to Buy) 2025 Direct	Common Stock	73.34	—	—	10K	10K
Stock Option (Right to Buy) 2023 Direct	Common Stock	54.73	—	—	8.33K	8.33K
Stock Option (Right to Buy) 2023 Direct	Common Stock	54.73	—	—	8.33K	8.33K
Stock Option (Right to Buy) 2023 Direct	Common Stock	54.73	—	—	8.33K	8.33K
Stock Option (Right to Buy) 2024 Direct	Common Stock	57.76	—	—	8.33K	8.33K
Stock Option (Right to buy) 2022 Direct	Common Stock	53.41	—	—	9.80K	9.80K
Stock Option (Right to buy) 2022 Direct	Common Stock	53.41	—	—	2.40K	2.40K
Stock Option (Right to Buy) 2024 Direct	Common Stock	57.76	—	—	8.33K	8.33K
Stock Option (Right to Buy) 2025 Direct	Common Stock	73.34	—	—	10K	10K
Stock Option (Right to Buy) 2024 Direct	Common Stock	57.76	—	—	8.33K	8.33K
Stock Option (Right to Buy) 2025 Direct	Common Stock	73.34	—	—	10K	10K
Total					92.20K	92.20K