Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-17

Ventas, Inc. (VTR)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$17,501,073
Debra Cafaro total, FY2025
79th
CEO pay percentile vs peers
142:1
CEO-to-median pay ratio
91.72%
Say-on-pay support, latest vote
Companies that benchmark against VTR
19 companies name VTR as a compensation peer

Each company listed discloses VTR 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 VTR in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Debra Cafaro$1,162,720$0$12,015,051$0$4,087,303$0$235,999$17,501,073
Chairman and Chief Executive Officer
Robert Probst727,07503,922,86501,775,186037,0956,462,221
Executive Vice President and Chief Financial Officer
J. Justin Hutchens715,05003,857,94501,745,826030,8096,349,630
Executive Vice President, Senior Housing and Chief Investment Officer
Carey Roberts594,04602,403,77701,164,942027,0844,189,849
Executive Vice President, General Counsel, Ethics & Compliance Officer and Corporate Secretary
Peter Bulgarelli620,80002,512,11101,015,763031,9534,180,627
Executive Vice President, Outpatient Medical and Research, Ventas, Inc. President and CEO, Lillibridge Healthcare Services, Inc.

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 officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Debra Cafaro$17,501,073$14,438,118$13,520,625+3,062,955
Robert Probst6,462,2215,194,9054,923,925+1,267,316
J. Justin Hutchens6,349,6304,777,5224,392,551+1,572,108
Carey Roberts4,189,8493,630,0603,490,371+559,789
Peter Bulgarelli4,180,627

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

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.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Maurice S. SmithDirector2026-04-01A457.26$82$37,500CommonForm 4 ↗
Matthew J. LustigDirector2026-04-01A396.298232,500CommonForm 4 ↗
Roxanne M. MartinoDirector2026-04-01A624.928251,250CommonForm 4 ↗
Sumit RoyDirector2026-04-01A381.058231,250CommonForm 4 ↗
Marguerite M. NaderDirector2026-04-16A66.74865,707CommonForm 4 ↗
Maurice S. SmithDirector2026-04-16A66.74865,707CommonForm 4 ↗
Maurice S. SmithDirector2026-04-16A59.32865,072CommonForm 4 ↗
Sumit RoyDirector2026-04-16A49.72864,251CommonForm 4 ↗
Matthew J. LustigDirector2026-04-16A229.238619,602CommonForm 4 ↗
Joe V. Rodriguez, JrDirector2026-04-16A41.22863,525CommonForm 4 ↗
Matthew J. LustigDirector2026-04-16A66.74865,707CommonForm 4 ↗
Michael J. EmblerDirector2026-04-16A66.74865,707CommonForm 4 ↗
Roxanne M. MartinoDirector2026-04-16A188.328616,103CommonForm 4 ↗
Sumit RoyDirector2026-04-16A66.74865,707CommonForm 4 ↗
Melody C. BarnesDirector2026-04-16A66.74865,707CommonForm 4 ↗
Peter BulgarelliEVP OM&R-Ventas/Pres&CEO-LHS2026-05-01D2,37288208,783CommonForm 4 ↗
Peter BulgarelliEVP OM&R-Ventas/Pres&CEO-LHS2026-05-01D2,34688206,495CommonForm 4 ↗
Peter BulgarelliEVP OM&R-Ventas/Pres&CEO-LHS2026-05-01D1,49688131,678CommonForm 4 ↗
Maurice S. SmithDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Walter C. RakowichDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Sumit RoyDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Walter C. RakowichDirector2026-05-13D1,15290103,915CommonForm 4 ↗
Roxanne M. MartinoDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Matthew J. LustigDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Michael J. EmblerDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Theodore R. BigmanDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Melody C. BarnesDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Joe V. Rodriguez, JrDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Sean P. NolanDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Marguerite M. NaderDirector2026-05-13A2,04790184,946CommonForm 4 ↗
Michael J. EmblerDirector2026-06-03A2,50079197,025CommonForm 4 ↗
Roxanne M. MartinoDirector2026-07-01A543.789048,750CommonForm 4 ↗
Sumit RoyDirector2026-07-01A348.589031,250CommonForm 4 ↗
Matthew J. LustigDirector2026-07-01A447.719040,137CommonForm 4 ↗
Maurice S. SmithDirector2026-07-01A460.899041,319CommonForm 4 ↗
Sumit RoyDirector2026-07-16A47.09954,475CommonForm 4 ↗
Roxanne M. MartinoDirector2026-07-16A173.899516,526CommonForm 4 ↗
Maurice S. SmithDirector2026-07-16A56.2955,341CommonForm 4 ↗
Michael J. EmblerDirector2026-07-16A71.62956,806CommonForm 4 ↗
Joe V. Rodriguez, JrDirector2026-07-16A48.51954,611CommonForm 4 ↗
Maurice S. SmithDirector2026-07-16A71.62956,806CommonForm 4 ↗
Matthew J. LustigDirector2026-07-16A71.62956,806CommonForm 4 ↗
Melody C. BarnesDirector2026-07-16A71.62956,806CommonForm 4 ↗
Matthew J. LustigDirector2026-07-16A209.679519,927CommonForm 4 ↗
Marguerite M. NaderDirector2026-07-16A71.62956,806CommonForm 4 ↗
Sumit RoyDirector2026-07-16A71.62956,806CommonForm 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.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Peter BulgarelliRSU2025-01-0216,066$931,185
Debra CafaroRSU2025-01-0256,9353,299,953
Peter BulgarelliPSU2025-01-0212,04924,09948,1981,580,926
Carey RobertsRSU2025-01-0215,373891,019
J. Justin HutchensPSU2025-01-0218,50537,01074,0212,427,898
Debra CafaroPSU2025-01-0266,425132,850265,7008,715,098
Robert ProbstPSU2025-01-0218,81637,63375,2662,468,765
Carey RobertsPSU2025-01-0211,53023,06046,1211,512,758
J. Justin HutchensRSU2025-01-0224,6731,430,047
Robert ProbstRSU2025-01-0225,0881,454,100
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Peter Bulgarelli$931,185$1,580,926$062.9%
Debra Cafaro3,299,9538,715,098072.5%
Carey Roberts891,0191,512,758062.9%
J. Justin Hutchens1,430,0472,427,898062.9%
Robert Probst1,454,1002,468,765062.9%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Robert ProbstRSU51,949$4,019,814
Peter BulgarelliPSU91,1007,320,760
Debra CafaroRSU126,5029,788,725
Carey RobertsRSU33,9172,624,497
J. Justin HutchensPSU129,72310,412,363
Peter BulgarelliRSU35,4442,742,657
Robert ProbstPSU134,72810,817,720
Debra CafaroPSU509,84540,980,035
Carey RobertsPSU87,1747,005,267
J. Justin HutchensRSU49,2913,814,138
05

Incentive-plan design — the Compensation Discussion & Analysis

We align the interests of our executive officers and stockholders by maintaining a performance- and achievement-oriented program that provides executives with the opportunity to earn market-competitive levels of cash and equity compensation for strong performance against key strategic, financial and operating goals that create long-term stockholder value.

CEO STI target (% of salary)200%
CEO LTI target (% of salary)
Independent consultantSemler Brossy
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingTrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-13392,256,70935,413,1282,031,77191.72%Passed
20252025-05-13337,688,54244,979,242930,69588.25%Passed
20242024-05-14303,392,30847,690,123429,56786.42%Passed
20232023-05-16315,522,34232,105,670576,52490.76%Passed
20222022-04-27167,788,818157,398,63418,204,12251.6%Passed
20212021-05-25270,414,15545,533,185509,30585.59%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 yearMeeting dateApproval — company's computation
20262026-05-1391.72%a
20252025-05-1388.25%b
20242024-05-1486.42%c

a. Approved under the standard stated in the filing — “Vote Requirements, Board Recommendations and Voting Results ITEMS: Board Recommendation Vote Requirement for Approval Effect of Abstentions Effect of Broker Non-Votes 1 To elect the 12 director nominees named in this Proxy Statement to serve until the 2027 Annual Meeting of Stockholders FOR each director nominee Majority of votes cast No effect No effect 2 To approve, on an advisory basis, the compensation of our Named Executive Officers FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" No effect 3 To ratify the selection of KPMG LLP as our independent registered public accounting firm for the 2026 fiscal year FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" Not applicable Voting Results We will publish the voting results in a Current Report on Form 8-K to be filed with the SEC within four business days following the 2026 Annual Meeting.”.

b. Approved under the standard stated in the filing — “Vote Requirements, Board Recommendations and Voting Results ITEMS: Board Recommendation Vote Requirement for Approval Effect of Abstentions Effect of Broker Non-Votes 1 To elect the 12 director nominees named in this Proxy Statement to serve until the 2027 Annual Meeting of Stockholders FOR each director nominee Majority of votes cast No effect No effect 2 To approve, on an advisory basis, the compensation of our Named Executive Officers FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" No effect 3 To ratify the selection of KPMG LLP as our independent registered public accounting firm for the 2026 fiscal year FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" Not applicable Voting Results We will publish the voting results in a Current Report on Form 8-K to be filed with the SEC within four business days following the 2026 Annual Meeting.”.

c. Approved under the standard stated in the filing — “Vote Requirements, Board Recommendations and Voting Results ITEMS: Board Recommendation Vote Requirement for Approval Effect of Abstentions Effect of Broker Non-Votes 1 To elect the 12 director nominees named in the Proxy Statement to serve until the 2025 Annual Meeting of Stockholders FOR each director nominee Majority of votes cast No effect No effect 2 To approve, on an advisory basis, the compensation of our Named Executive Officers FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" No effect 3 To ratify the selection of KPMG LLP as our independent registered public accounting firm for the 2024 fiscal year FOR Majority of voting power present (in person or by proxy) Counted as "AGAINST" Not applicable Voting Results We will publish the voting results in a Current Report on Form 8-K to be filed with the SEC within four business days following the 2024 Annual Meeting.”.

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.

07

CEO pay ratio

Ratio (CEO : median employee)142 : 1
CEO total compensation$17,501,073
Median employee compensation$123,420
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Roxanne M. MartinoIndependent · Lead Independent Director · Compensation (Chair)$199,478$185,000$0$0$0$384,478
Walter C. RakowichIndependent · Audit and Compliance (Chair) · Investment160,000185,000000345,000
Maurice S. SmithIndependent · Audit and Compliance · Compensation150,000185,000000335,000
Michael J. EmblerIndependent · Audit and Compliance · Investment145,000185,000000330,000
Sean P. NolanIndependent · Compensation · Nominating/Governance145,000185,000000330,000
Marguerite M. NaderIndependent · Audit and Compliance · Nominating/Governance145,000185,000000330,000
Melody C. BarnesIndependent · Nominating/Governance (Chair)135,000185,000000320,000
Matthew J. LustigIndependent · Investment (Chair)130,000185,000000315,000
Sumit RoyIndependent · Investment125,000185,000000310,000
Theodore R. BigmanIndependent · Investment125,000185,000000310,000
Joe V. Rodriguez, JrIndependent · Nominating/Governance125,000185,000000310,000
Debra A. CafaroEmployee director · Board Chair00000
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$185,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline5x annual cash retainer ($550,000)
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,584,478
Equity awards (grant-date value)$2,035,000
All other compensation$0
Total cost of the board$3,619,478

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Ventas, Inc. names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Ventas, Inc..

10b

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.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Welltower, Inc.2025Shankh Mitra$1,300,000$813,178,818$0$6,500,000$821,090,355
2Boston Properties, Inc.2025Michael Mahoney1,442,60313,608,0563,749,9804,002,00123,532,050
3Equinix, Inc.2025Adaire Fox-Martin1,000,00021,416,9514322,654,885
4Digital Realty Trust, Inc.2025Andrew Power978,84614,174,68403,700,00021,071,498
5Ventas, Inc.2025Debra Cafaro1,162,72012,015,05104,087,30317,501,073
6Realty Income Corp.2025Sumit Roy1,000,0009,149,49604,981,01216,251,931
7Medical Properties Trust2025Edward Aldag, Jr.1,250,00010,745,10903,125,00015,898,816
8Prologis, Inc.2025Daniel Letter795,38512,500,990015,190,625
9American Tower Corp.2025Steven Vondran1,000,00011,528,74802,280,00014,854,505
10Crown Castle International Corp.2025Christian Hillabrant269,23112,147,0360823,52214,154,801
11Invitation Homes Inc.2025Dallas Tanner1,000,00010,965,04602,108,00014,096,335
12Weyerhaeuser Co.2025Devin Stockfish1,300,00010,155,81002,102,00013,983,685
13Equity Residential2025Mark Parrell900,0008,023,6681,498,7412,317,61312,759,187
14Simon Property Group, Inc.2025David Simon1,250,0007,000,2610011,663,678
15Kimco Realty Corp.2025Conor Flynn1,000,0007,080,40103,398,40011,581,750
16Healthpeak Properties, Inc.2025Scott Brinker825,0007,208,68801,986,15610,072,994
17UDR, Inc.2025Thomas Toomey900,0009,010,120009,933,438
18Public Storage, Inc.2025Joseph Russell1,000,0003,982,3712,907,5832,005,8239,909,777
19AvalonBay Communities, Inc.2025Benjamin Schall1,000,0006,319,735482,3651,815,5409,663,500
20Alexandria Real Estate Equities, Inc.2025Peter Moglia840,0006,106,50201,890,0008,844,053
21Mid-America Apartment Communities, Inc.2025H. Eric Bolton, Jr.884,9883,826,7470942,0075,874,989

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.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Ventas, Inc.352%PSU 70 · RSU 30Yes — TSR Relative to the Nareit Health Care IndexSemler Brossy
Alexandria Real Estate Equities, Inc.not disclosedPSU 50 · RSU 50Yes — Absolute TSRFTI Consulting, Inc.
American Tower Corp.114%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners, LLC
AvalonBay Communities, Inc.104.8%PSU 100NoFerguson Partners Consulting L.P.
Boston Properties, Inc.173%PSU 50 · RSU 25 · Options 25NoSemler Brossy Consulting Group, LLC
Crown Castle International Corp.139.16%PRSU 60 · RSU 40NoFW Cook
Digital Realty Trust, Inc.378%PSU 60 · LTIP Units 40NoSemler Brossy
Equinix, Inc.99%PSU 67 · RSU 33Yes — rTSRCompensia
Equity Residential114.45%PSU 100Yes — Performance of Company relative to weighted average TSR of companies in the FTSE Nareit Equity Apartments IndexFerguson Partners Consulting
Healthpeak Properties, Inc.127%PSU 60 · RSU 40Yes — 3-Year Relative TSR PerformanceFerguson Partners Consulting
Invitation Homes Inc.105.4%PSU 75 · RSU 25Yes — TSR Relative to RMS Index CAGRFerguson Partners Consulting
Kimco Realty Corp.189%PSU 67 · RSU 33Yes — Total Stockholder Return (TSR)Pay Governance LLC
Medical Properties Trust300%not disclosedYes — TSRGressle & McGinley
Mid-America Apartment Communities, Inc.86%PSU 80 · RSU 20Yes — Compounded Annualized Three-Year Relative Total Shareholder Return (TSR)Pearl Meyer
Prologis, Inc.137.5%PSU 100NoPay Governance
Public Storage, Inc.not disclosedRSU 60 · Options 40not disclosedFerguson Partners Consulting
Realty Income Corp.199%PSU 75 · RSU 25Yes — TSR ranking relative to MSCI US REIT IndexFPC
Simon Property Group, Inc.49.63%LTIP Units 75 · RSU 25Yes — TSR modifierSemler Brossy
UDR, Inc.not disclosedPSU 100Yes — Relative cumulative TSR versus apartment peersFPL Associates
Welltower, Inc.200%not disclosedYes — TSR vs FTSE NAREIT Equity Health Care IndexFPC
Weyerhaeuser Co.not disclosednot disclosednot disclosedFW Cook

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Ventas, Inc. in fiscal 2025?
The highest-paid executive at Ventas, Inc. in fiscal 2025 was Debra Cafaro, who served as Chairman and Chief Executive Officer with total compensation of $17,501,073.
How does Ventas, Inc.'s chief executive pay compare to its disclosed peer group?
The filing shows that the CEO's pay placed the company in the 79th percentile among its disclosed peer group.
What is Ventas, Inc.'s CEO-to-median employee pay ratio?
As disclosed, the CEO-to-median employee pay ratio was 142:1.
How did shareholders vote on Ventas, Inc.'s executive compensation?
Shareholders approved the executive compensation plan with 91.72% support in the latest vote.
How much does Ventas, Inc. spend in total on board compensation for fiscal 2025?
The company reported total board compensation for fiscal 2025 was $3,619,478.

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.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Debra CafaroDEF 14A2026-04-010000740260-26-000010Section “2025 Summary Compensation Table”. As printed: 17,501,073. Filing ↗machine: r2 · c42 · span 1775799–1775810
2Section 01, Robert ProbstDEF 14A2026-04-010000740260-26-000010Section “2025 Summary Compensation Table”. As printed: 6,462,221. Filing ↗machine: r5 · c42 · span 1783622–1783631
3Section 01, J. Justin HutchensDEF 14A2026-04-010000740260-26-000010Section “2025 Summary Compensation Table”. As printed: 6,349,630. Filing ↗machine: r11 · c42 · span 1799038–1799047
4Section 01, Carey RobertsDEF 14A2026-04-010000740260-26-000010Section “2025 Summary Compensation Table”. As printed: 4,189,849. Filing ↗machine: r14 · c42 · span 1806560–1806569
5Section 01, Peter BulgarelliDEF 14A2026-04-010000740260-26-000010Section “2025 Summary Compensation Table”. As printed: 4,180,627. Filing ↗machine: r8 · c42 · span 1791130–1791139
6Section 03, Peter Bulgarelli RSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r11 · c16 · span 1918485–1918492
7Section 03, Debra Cafaro RSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r5 · c16 · span 1899822–1899831
8Section 03, Peter Bulgarelli PSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r10 · c14 · span 1915079–1915088
9Section 03, Carey Roberts RSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r17 · c16 · span 1938160–1938167
10Section 03, J. Justin Hutchens PSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r13 · c14 · span 1924417–1924426
11Section 03, Debra Cafaro PSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r4 · c14 · span 1896416–1896425
12Section 03, Robert Probst PSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r7 · c13 · span 1905636–1905645
13Section 03, Carey Roberts PSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r16 · c14 · span 1934210–1934219
14Section 03, J. Justin Hutchens RSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r14 · c16 · span 1927398–1927407
15Section 03, Robert Probst RSUDEF 14A2026-04-010000740260-26-000010Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t258 · r8 · c16 · span 1908617–1908626
16Section 07, pay ratioDEF 14A2026-04-010000740260-26-000010Section “CEO Pay Ratio”. As printed: 142 : 1. Filing ↗machine: span 2222724–2222732
17Section 08, Roxanne M. MartinoDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 384,478. Filing ↗machine: t146 · r6 · c6 · span 1070198–1070205
18Section 08, Walter C. RakowichDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 345,000. Filing ↗machine: t146 · r9 · c6 · span 1074032–1074039
19Section 08, Maurice S. SmithDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 335,000. Filing ↗machine: t146 · r12 · c6 · span 1078261–1078268
20Section 08, Michael J. EmblerDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 330,000. Filing ↗machine: t146 · r4 · c6 · span 1067582–1067589
21Section 08, Sean P. NolanDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 330,000. Filing ↗machine: t146 · r8 · c6 · span 1072811–1072818
22Section 08, Marguerite M. NaderDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 330,000. Filing ↗machine: t146 · r7 · c6 · span 1071420–1071427
23Section 08, Melody C. BarnesDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 320,000. Filing ↗machine: t146 · r2 · c6 · span 1064966–1064974
24Section 08, Matthew J. LustigDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 315,000. Filing ↗machine: t146 · r5 · c6 · span 1068802–1068809
25Section 08, Sumit RoyDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 310,000. Filing ↗machine: t146 · r11 · c6 · span 1076643–1076650
26Section 08, Theodore R. BigmanDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 310,000. Filing ↗machine: t146 · r3 · c6 · span 1066187–1066194
27Section 08, Joe V. Rodriguez, JrDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 310,000. Filing ↗machine: t146 · r10 · c6 · span 1075431–1075438
28Section 08, Debra A. CafaroDEF 14A2026-04-010000740260-26-000010Section “Director Compensation”. As printed: 0. Filing ↗
29Section 02, Maurice S. Smith 2026-04-01Form 42026-04-030001841752-26-000009Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Matthew J. Lustig 2026-04-01Form 42026-04-030001203367-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Roxanne M. Martino 2026-04-01Form 42026-04-030001676558-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Sumit Roy 2026-04-01Form 42026-04-030001529329-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Marguerite M. Nader 2026-04-16Form 42026-04-170001356681-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Maurice S. Smith 2026-04-16Form 42026-04-170001841752-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Maurice S. Smith 2026-04-16Form 42026-04-170001841752-26-000011Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Sumit Roy 2026-04-16Form 42026-04-170001529329-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Matthew J. Lustig 2026-04-16Form 42026-04-170001203367-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Joe V. Rodriguez, Jr 2026-04-16Form 42026-04-170002014328-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Matthew J. Lustig 2026-04-16Form 42026-04-170001203367-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Michael J. Embler 2026-04-16Form 42026-04-170001209170-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Roxanne M. Martino 2026-04-16Form 42026-04-170001676558-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Sumit Roy 2026-04-16Form 42026-04-170001529329-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, Melody C. Barnes 2026-04-16Form 42026-04-170001619369-26-000004Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, Peter Bulgarelli 2026-05-01Form 42026-05-050001736887-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Peter Bulgarelli 2026-05-01Form 42026-05-050001736887-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Peter Bulgarelli 2026-05-01Form 42026-05-050001736887-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Maurice S. Smith 2026-05-13Form 42026-05-150001841752-26-000013Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Walter C. Rakowich 2026-05-13Form 42026-05-150001202432-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Sumit Roy 2026-05-13Form 42026-05-150001529329-26-000016Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Walter C. Rakowich 2026-05-13Form 42026-05-150001202432-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Roxanne M. Martino 2026-05-13Form 42026-05-150001676558-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Matthew J. Lustig 2026-05-13Form 42026-05-150001203367-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Michael J. Embler 2026-05-13Form 42026-05-150001209170-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Theodore R. Bigman 2026-05-13Form 42026-05-150001042733-26-000002Insider equity transaction reported since the proxy statement. Filing ↗
55Section 02, Melody C. Barnes 2026-05-13Form 42026-05-150001619369-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
56Section 02, Joe V. Rodriguez, Jr 2026-05-13Form 42026-05-150002014328-26-000006Insider equity transaction reported since the proxy statement. Filing ↗
57Section 02, Sean P. Nolan 2026-05-13Form 42026-05-150001569926-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
58Section 02, Marguerite M. Nader 2026-05-13Form 42026-05-150001356681-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
59Section 02, Michael J. Embler 2026-06-03Form 42026-06-050001209170-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
60Section 02, Roxanne M. Martino 2026-07-01Form 42026-07-020001676558-26-000012Insider equity transaction reported since the proxy statement. Filing ↗
61Section 02, Sumit Roy 2026-07-01Form 42026-07-020001529329-26-000018Insider equity transaction reported since the proxy statement. Filing ↗
62Section 02, Matthew J. Lustig 2026-07-01Form 42026-07-020001203367-26-000022Insider equity transaction reported since the proxy statement. Filing ↗
63Section 02, Maurice S. Smith 2026-07-01Form 42026-07-020001841752-26-000017Insider equity transaction reported since the proxy statement. Filing ↗
64Section 02, Sumit Roy 2026-07-16Form 42026-07-170001529329-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
65Section 02, Roxanne M. Martino 2026-07-16Form 42026-07-170001676558-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
66Section 02, Maurice S. Smith 2026-07-16Form 42026-07-170001841752-26-000019Insider equity transaction reported since the proxy statement. Filing ↗
67Section 02, Michael J. Embler 2026-07-16Form 42026-07-170001209170-26-000014Insider equity transaction reported since the proxy statement. Filing ↗
68Section 02, Joe V. Rodriguez, Jr 2026-07-16Form 42026-07-170002014328-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
69Section 02, Maurice S. Smith 2026-07-16Form 42026-07-170001841752-26-000019Insider equity transaction reported since the proxy statement. Filing ↗
70Section 02, Matthew J. Lustig 2026-07-16Form 42026-07-170001203367-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
71Section 02, Melody C. Barnes 2026-07-16Form 42026-07-170001619369-26-000008Insider equity transaction reported since the proxy statement. Filing ↗
72Section 02, Matthew J. Lustig 2026-07-16Form 42026-07-170001203367-26-000024Insider equity transaction reported since the proxy statement. Filing ↗
73Section 02, Marguerite M. Nader 2026-07-16Form 42026-07-170001356681-26-000010Insider equity transaction reported since the proxy statement. Filing ↗
74Section 02, Sumit Roy 2026-07-16Form 42026-07-170001529329-26-000020Insider equity transaction reported since the proxy statement. Filing ↗
75Section 06, 2026 voteForm 8-K2026-05-150001104659-26-062795Item 5.07 · say-on-pay result. As reported: 91.72% (votes for as printed: 392,256,709). Filing ↗
76Section 06, 2025 voteForm 8-K2025-05-150001104659-25-048666Item 5.07 · say-on-pay result. As reported: 88.25% (votes for as printed: 337,688,542). Filing ↗
77Section 06, 2024 voteForm 8-K2024-05-160000740260-24-000167Item 5.07 · say-on-pay result. As reported: 86.42% (votes for as printed: 303,392,308). Filing ↗
78Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
79Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
80Section 09b board cost (computed)ComputedcomputedCash 1,584,478 + equity 2,035,000 + all other 0 = 3,619,478, summed across the director compensation table rows.machine: formula: Σ = 3,619,478
81Welltower, Inc., Section 10b CEO totalDEF 14A2026-04-100000766704-26-000014CEO total compensation as printed in Welltower, Inc.'s own proxy. As printed: 821,090,355. Filing ↗machine: t141 · r3 · c12 · span 1124520–1124531
82Boston Properties, Inc., Section 10b CEO totalDEF 14A2026-03-180000885725-26-000025CEO total compensation as printed in Boston Properties, Inc.'s own proxy. As printed: 23,532,050. Filing ↗machine: r2 · c27 · span 1249807–1249817
83Equinix, Inc., Section 10b CEO totalDEF 14A2026-04-020001101239-26-000073CEO total compensation as printed in Equinix, Inc.'s own proxy. As printed: 22,654,885. Filing ↗machine: span 1101160–1101170
84Digital Realty Trust, Inc., Section 10b CEO totalDEF 14A2026-04-170001308179-26-000296CEO total compensation as printed in Digital Realty Trust, Inc.'s own proxy. As printed: 21,071,498. Filing ↗machine: r2 · c14 · span 644147–644157
85Ventas, Inc. (subject), Section 10b CEO totalDEF 14A2026-04-010000740260-26-000010CEO total compensation as printed in Ventas, Inc.'s own proxy. As printed: 17,501,073. Filing ↗machine: r2 · c42 · span 1775799–1775810
86Realty Income Corp., Section 10b CEO totalDEF 14A2026-03-250000726728-26-000021CEO total compensation as printed in Realty Income Corp.'s own proxy. As printed: 16,251,931. Filing ↗machine: r3 · c18 · span 1118130–1118140
87Medical Properties Trust, Section 10b CEO totalDEF 14A2026-04-130001193125-26-152971CEO total compensation as printed in Medical Properties Trust's own proxy. As printed: 15,898,816. Filing ↗machine: t152 · r3 · c14 · span 1825546–1825556
88Prologis, Inc., Section 10b CEO totalDEF 14A2026-03-190001193125-26-115132CEO total compensation as printed in Prologis, Inc.'s own proxy. As printed: 15,190,625. Filing ↗machine: span 926776–926786
89American Tower Corp., Section 10b CEO totalDEF 14A2026-04-080001053507-26-000088CEO total compensation as printed in American Tower Corp.'s own proxy. As printed: 14,854,505. Filing ↗machine: span 1362503–1362513
90Crown Castle International Corp., Section 10b CEO totalDEF 14A2026-04-060001051470-26-000039CEO total compensation as printed in Crown Castle International Corp.'s own proxy. As printed: 14,154,801. Filing ↗machine: r3 · c42 · span 809142–809152
91Invitation Homes Inc., Section 10b CEO totalDEF 14A2026-03-260001193125-26-126310CEO total compensation as printed in Invitation Homes Inc.'s own proxy. As printed: 14,096,335. Filing ↗machine: t266 · r3 · c39 · span 1039962–1039973
92Weyerhaeuser Co., Section 10b CEO totalDEF 14A2026-04-010001140361-26-012453CEO total compensation as printed in Weyerhaeuser Co.'s own proxy. As printed: 13,983,685. Filing ↗
93Equity Residential, Section 10b CEO totalDEF 14A2026-04-140001193125-26-155007CEO total compensation as printed in Equity Residential's own proxy. As printed: 12,759,187. Filing ↗machine: t125 · r5 · c25 · span 1751090–1751100
94Simon Property Group, Inc., Section 10b CEO totalDEF 14A2026-04-010001104659-26-038320CEO total compensation as printed in Simon Property Group, Inc.'s own proxy. As printed: 11,663,678. Filing ↗machine: t240 · r4 · c17 · span 1804893–1804903
95Kimco Realty Corp., Section 10b CEO totalDEF 14A2026-04-080001206774-26-000197CEO total compensation as printed in Kimco Realty Corp.'s own proxy. As printed: 11,581,750. Filing ↗machine: t133 · r4 · c7 · span 542175–542185
96Healthpeak Properties, Inc., Section 10b CEO totalDEF 14A2026-03-120001104659-26-027086CEO total compensation as printed in Healthpeak Properties, Inc.'s own proxy. As printed: 10,072,994. Filing ↗machine: t197 · r7 · c18 · span 1414974–1414984
97UDR, Inc., Section 10b CEO totalDEF 14A2026-04-020000074208-26-000037CEO total compensation as printed in UDR, Inc.'s own proxy. As printed: 9,933,438. Filing ↗machine: t322 · r11 · c18 · span 3007170–3007179
98Public Storage, Inc., Section 10b CEO totalDEF 14A2026-03-270001193125-26-128991CEO total compensation as printed in Public Storage, Inc.'s own proxy. As printed: 9,909,777. Filing ↗machine: t75 · r4 · c29 · span 2764941–2764950
99AvalonBay Communities, Inc., Section 10b CEO totalDEF 14A2026-04-060001104659-26-039943CEO total compensation as printed in AvalonBay Communities, Inc.'s own proxy. As printed: 9,663,500. Filing ↗machine: t263 · r9 · c18 · span 1661086–1661095
100Alexandria Real Estate Equities, Inc., Section 10b CEO totalDEF 14A2026-04-010001035443-26-000031CEO total compensation as printed in Alexandria Real Estate Equities, Inc.'s own proxy. As printed: 8,844,053. Filing ↗machine: r6 · c19 · span 3171042–3171051
101Mid-America Apartment Communities, Inc., Section 10b CEO totalDEF 14A2026-04-060001140361-26-013212CEO total compensation as printed in Mid-America Apartment Communities, Inc.'s own proxy. As printed: 5,874,989. Filing ↗machine: t272 · r5 · c7 · span 1227258–1227268
102Section 10a, Boston Properties, Inc. reciprocityDEF 14A0000885725-26-000025Boston Properties, Inc.'s most recent proxy was read; its disclosed peer group does not include Ventas, Inc.. Filing ↗
103Section 10a, Medical Properties Trust reciprocityDEF 14A0001193125-26-152971Medical Properties Trust names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
104Section 10a, Prologis, Inc. reciprocityDEF 14A0001193125-26-115132Prologis, Inc.'s most recent proxy was read; its disclosed peer group does not include Ventas, Inc.. Filing ↗
105Section 10a, Healthpeak Properties, Inc. reciprocityDEF 14A0001104659-26-027086Healthpeak Properties, Inc. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
106Section 10a, Realty Income Corp. reciprocityDEF 14A0000726728-26-000021Realty Income Corp. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
107Section 10a, Invitation Homes Inc. reciprocityDEF 14A0001193125-26-126310Invitation Homes Inc.'s most recent proxy was read; its disclosed peer group does not include Ventas, Inc.. Filing ↗
108Section 10a, UDR, Inc. reciprocityDEF 14A0000074208-26-000037UDR, Inc.'s most recent proxy was read; its disclosed peer group does not include Ventas, Inc.. Filing ↗
109Section 10a, Public Storage, Inc. reciprocityDEF 14A0001193125-26-128991Public Storage, Inc. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
110Section 10a, Digital Realty Trust, Inc. reciprocityDEF 14A0001308179-26-000296Digital Realty Trust, Inc. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
111Section 10a, Alexandria Real Estate Equities, Inc. reciprocityDEF 14A0001035443-26-000031Alexandria Real Estate Equities, Inc. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
112Section 10a, Equinix, Inc. reciprocityDEF 14A0001101239-26-000073Equinix, Inc.'s most recent proxy was read; its disclosed peer group does not include Ventas, Inc.. Filing ↗
113Section 10a, Equity Residential reciprocityDEF 14A0001193125-26-155007Equity Residential names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
114Section 10a, Welltower, Inc. reciprocityDEF 14A0000766704-26-000014Welltower, Inc. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
115Section 10a, Weyerhaeuser Co. reciprocityDEF 14A0001140361-26-012453Weyerhaeuser Co. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗
116Section 10a, American Tower Corp. reciprocityDEF 14A0001053507-26-000088American Tower Corp. names Ventas, Inc. in its own disclosed peer group (read from its most recent proxy). Filing ↗