Ventas Director Matthew J. Lustig Acquires Dividend Equivalent Stock Units

Executive Summary

On October 15, 2026, Matthew J. Lustig, a Director of Ventas, Inc. (NYSE: VTR), acquired an aggregate of 319.493 shares of common stock units at a reference price of $84.86 per share, representing a total valuation of approximately $27,112.18.

Transaction Details

The Form 4 reports two related transactions occurring on October 15, 2026:

1. 238.848 units granted under the Ventas, Inc. Non-Employee Directors' Cash Compensation Deferral Plan resulting from dividend equivalents credited on the issuer's common stock dividend paid on October 15, 2026.
2. 80.645 units granted under the Ventas, Inc. Non-Employee Directors' Equity Award Deferral Program pursuant to the 2022 Incentive Plan, also resulting from dividend equivalent credits.

Both grants reflect the closing price of Ventas common stock on the grant date ($84.86) and are payable solely in shares of common stock pursuant to the terms of the respective deferral plans. Following these credits, Lustig's direct beneficial ownership stands at 96,502.067 shares.

Market and Governance Context

Because these transactions represent routine dividend equivalent credits on previously deferred director compensation and equity awards rather than open-market purchases or sales, the trading significance is evaluated as Low. This does not reflect discretionary capital allocation or directional sentiment by the insider.