Companies National Healthcare Properties
National Healthcare Properties (NHPAP): executive pay, fiscal 2025
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CEO pay, last three years
- $6,490,000FY2025
CEO total pay was $6,490,000 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $800,000 · bonus $1,890,000 · stock awards $3,800,000 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Michael Anderson | $800,000 | $1,890,000 | $3,800,000 | $0 | $0 | $0 | $0 | $6,490,000 |
| Chief Executive Officer and President | ||||||||
| Scott Lappetito | 373,767 | 0 | 1,800,000 | 0 | 0 | 0 | 1,353,514 | 3,527,281 |
| Former Chief Financial Officer and Treasurer | ||||||||
| Andrew Babin | 47,123 | 72,157 | 0 | 0 | 0 | 0 | 0 | 119,280 |
| Chief Financial Officer and Treasurer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Michael Anderson | $6,490,000 | — | — | — |
| Scott Lappetito | 3,527,281 | — | — | — |
| Andrew Babin | 119,280 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
The CCG Committee, with the help of Ferguson, established compensation objectives and philosophy for NEOs following the 2024 Internalization, resulting in the adoption of a new Annual Incentive Program and Long-Term Incentive Program for 2025 performance. The primary objectives are to attract and retain the executive team and drive short- and long-term growth objectives.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Ferguson |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
Equity grants and outstanding awards
No plan-based awards are on file for this fiscal year.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Scott Lappetito | PSU | 7,294 | — | $234,502 |
| Scott Lappetito | RSU | 43,545 | — | 1,400,000 |
| Michael Anderson | PSU | 55,986 | — | 1,800,000 |
| Michael Anderson | RSU | 60,134 | — | 1,933,308 |
Director compensation
No director compensation table is on file for fiscal year 2025.
Board fee structure and ownership guideline
| Annual cash retainer | $75,000 |
|---|---|
| Annual equity retainer | $100,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 20,000 / 15,000 / 15,000 |
| Stock ownership guideline | $300,000 |
Peer group, and who names National Healthcare Properties as a peer
Companies that benchmark against NHPAP
1 company names NHPAP as a compensation peer
- NATIONAL HEALTH INVESTORS INCNHIFY2025
Each company listed discloses NHPAP in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named NHPAP in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | National Healthcare Properties | 2025 | Michael Anderson | $800,000 | $3,800,000 | $0 | $0 | $6,490,000 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2025 | 2025-05-22 | 3,520,353 | 962,615 | 476,642 | 78.53% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2025 | 2025-05-22 | 78.53%a |
a. Approved under the standard stated in the filing — “Required Vote This proposal requires the affirmative vote of a majority of the votes cast on the proposal at the Annual Meeting, assuming a quorum is present. || Abstentions: For purposes of this proposal, abstentions and broker non-votes will not be counted as votes cast and will have no effect on the result of the vote on this proposal, although they will be considered present for purposes of determining the presence of a quorum.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 42 : 1 |
|---|---|
| CEO total compensation | $6,490,000 |
| Median employee compensation | $154,192 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Edward M. Weil Jr. | Director | 2026-04-30 | A | 12,500 | $0 | $0 | Derivative, Class A Common | Form 4 ↗ |
| Edward G. Rendell | Director | 2026-04-30 | A | 12,500 | 0 | 0 | Common | Form 4 ↗ |
| Buddie J. Penn | Director | 2026-04-30 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Elizabeth K. Tuppeny | Director | 2026-04-30 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Ailin See Park | Chief Accounting Officer | 2026-04-30 | A | 5,209 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Michael Anderson | Director | 2026-04-30 | A | 75,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Andrew Babin | Chief Financial Officer | 2026-04-30 | A | 149,428 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Ailin See Park | Chief Accounting Officer | 2026-04-30 | A | 25,000 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Michael Anderson | Director | 2026-04-30 | A | 348,665 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Scott Humphrey | Director | 2026-04-30 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Andrew Babin | Chief Financial Officer | 2026-04-30 | A | 41,667 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Leslie D. Michelson | Director | 2026-04-30 | A | 12,500 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Scott Humphrey | Director | 2026-05-15 | A | 9,935 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Edward M. Weil Jr. | Director | 2026-05-15 | A | 7,446 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Leslie D. Michelson | Director | 2026-05-15 | A | 7,446 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Elizabeth K. Tuppeny | Director | 2026-05-15 | A | 7,446 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Buddie J. Penn | Director | 2026-05-15 | A | 7,446 | 0 | 0 | Derivative, Class A Common | Form 4 ↗ |
| Albert M. Campbell III | Director | 2026-08-17 | A | 4,693 | 0 | 0 | Common | Form 4 ↗ |
| Michael Anderson | Director | 2026-09-27 | D | 16,041 | 16 | 257,137 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (25 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Michael Anderson. DEF 14A, filed 2026-03-31. Section “COMPENSATION TABLES” · page 27. As printed: 6,490,000. View filing ↗
- Section 01, Scott Lappetito. DEF 14A, filed 2026-03-31. Section “COMPENSATION TABLES” · page 27. As printed: 3,527,281. View filing ↗
- Section 01, Andrew Babin. DEF 14A, filed 2026-03-31. Section “COMPENSATION TABLES” · page 27. As printed: 119,280. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-03-31. Section “CEO Pay Ratio”. As printed: 42 : 1. View filing ↗
- Section 02, Edward M. Weil Jr. 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Edward G. Rendell 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Buddie J. Penn 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Elizabeth K. Tuppeny 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Ailin See Park 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Michael Anderson 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Andrew Babin 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Ailin See Park 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Michael Anderson 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Scott Humphrey 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Andrew Babin 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Leslie D. Michelson 2026-04-30. Form 4, filed 2026-05-04. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Scott Humphrey 2026-05-15. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Edward M. Weil Jr. 2026-05-15. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Leslie D. Michelson 2026-05-15. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Elizabeth K. Tuppeny 2026-05-15. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Buddie J. Penn 2026-05-15. Form 4, filed 2026-05-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Albert M. Campbell III 2026-08-17. Form 4, filed 2026-08-19. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Michael Anderson 2026-09-27. Form 4, filed 2026-09-29. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-23. Item 5.07 · say-on-pay result. As reported: 78.53% (votes for as printed: 3,520,353). View filing ↗
- National Healthcare Properties (subject), Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in National Healthcare Properties's own proxy. As printed: 6,490,000. View filing ↗