Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-30

WELLTOWER INC. (WELL)

CEO Shankh Mitra was paid $821,090,355 in fiscal year 2025, ↑ up 3964.6% from fiscal year 2024, the 99th percentile of its disclosed peer group (SEC filing 0000766704-26-000014 ↗): 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.

$821,090,355 ↑
Shankh Mitra total, FY2025
99th
CEO pay percentile vs peers
6,569:1
CEO-to-median pay ratio
18.89%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Shankh Mitra (Chief Executive Officer), FY2025 total compensation $821,090,355 (base salary $1,300,000) [exec_comp, SEC accession 0000766704-26-000014, filed 2026-04-10]

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WELL's next annual pay disclosure, estimated April 10, 2027.est. Filing ↗

Page 2 of 35 of the WELLTOWER INC. Executive Compensation Report, as it is delivered: Executive Summary.

That is page 2 of 35 of the full Executive Compensation Report, shown as it is delivered. The rest:

  1. Summary Compensation Table
  2. Equity transactions since the proxy statement
  3. Grants of plan-based awards
  4. Outstanding equity awards at fiscal year-end
  5. Incentive-plan design (CD&A)
  6. Say-on-pay
  7. CEO pay ratio
  8. Director compensation
  9. Board fee structure and ownership guideline
  10. Disclosed peer group
  11. Source register

Every figure above cites the filing it came from (accession 0000766704-26-000014, filed 2026-09-30) — see the source register, §11.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Shankh Mitra$1,300,000$0$813,178,818$0$6,500,000$0$111,537$821,090,355
Chief Executive Officer
Nikhil Chaudhri700,0000182,258,59502,800,000051,850185,810,445
Co-President and Chief Investment Officer
Timothy McHugh700,0000163,753,64002,450,000051,500166,955,140
Co-President and Chief Financial Officer
John Burkart650,000097,264,20002,275,000051,500100,240,700
Vice Chairman and Chief Operating Officer
Matthew McQueen625,000090,906,79701,875,000051,50093,458,297
Chief Legal Officer and General Counsel

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 FY2024→2025
Shankh Mitra$821,090,355$20,200,824$17,250,363↑ +800,889,531
Nikhil Chaudhri185,810,4455,369,138—↑ +180,441,307
Timothy McHugh166,955,1407,223,4196,920,305↑ +159,731,721
John Burkart100,240,7006,034,9156,045,441↑ +94,205,785
Matthew McQueen93,458,2974,442,2494,002,650↑ +89,016,048

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

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Data as of September 30, 2026 · Source: 0000766704-26-000014 · Velarion Executive Compensation Database, deposited on Zenodo (doi:10.5281/zenodo.22283855).

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Companies that benchmark against WELL
18 companies name WELL as a compensation peer

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

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01b

Executives — the named officers

One page per officer: the same table above, read for one person at a time — his own figure and every fiscal year the register holds.

ExecutiveRoleFY2025 total
Matthew McQueenGeneral Counsel$93,458,297
Nikhil ChaudhriPresident$185,810,445
Shankh MitraCEO$821,090,355
Timothy McHughPresident$166,955,140
John BurkartCOO$100,240,700
01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Ade J. PattonIndependent Director$441,633
Andrew GundlachIndependent Director$381,633
Dennis G. LopezIndependent Director$383,133
Johnese M. SpissoIndependent Director$420,633
Karen B. DeSalvoIndependent Director$378,133
Kathryn M. SullivanIndependent Director$429,133
Kenneth J. BaconChair of the Board$665,133
Sergio D. RiveraIndependent Director$425,133
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
Kenneth J. BaconDirector2026-05-01A2,627$0$0CommonForm 4 ↗
Kenneth J. BaconDirector2026-05-01D2,627——Derivative, Class A CommonForm 4 ↗
Dennis G. LopezDirector2026-05-21A6321613,609CommonForm 4 ↗
Shankh MitraDirector2026-05-27D16200CommonForm 4 ↗
Timothy McHughCo-President and CFO2026-05-29A111731,907CommonForm 4 ↗
Shankh MitraDirector2026-05-31A171732,946CommonForm 4 ↗
Shankh MitraDirector2026-06-26D3,85200CommonForm 4 ↗
Dennis G. LopezDirector2026-08-20A7323717,330CommonForm 4 ↗
Andrew GundlachDirector2026-08-25A2,500239598,675Common, indirectForm 4 ↗
Andrew GundlachDirector2026-08-25A2,500239598,675Common, indirectForm 4 ↗
Andrew GundlachDirector2026-08-26A2,500242605,150Common, indirectForm 4 ↗
Andrew GundlachDirector2026-08-26A2,500242605,150Common, indirectForm 4 ↗
Timothy McHughCo-President and CFO2026-09-29D2,15000Derivative, Class A CommonForm 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
Timothy McHughRSU2025-10-30——492,745—$74,581,308
Matthew McQueenRSU2025-10-30——271,367—41,073,793
Nikhil ChaudhriRSU2025-10-30——549,874—83,228,287
John BurkartRSU2025-10-30——285,649—43,235,499
Timothy McHughPSU2025-10-30—492,745—1,231,86181,883,625
Nikhil ChaudhriPSU2025-01-0210,25142,008—151,2287,653,071
Timothy McHughPSU2025-01-029,76340,008—144,0287,288,707
John BurkartPSU2025-01-028,78736,008—129,6286,559,979
Nikhil ChaudhriPSU2025-10-30—549,874—1,374,68691,377,237
Matthew McQueenPSU2025-01-026,34726,005—93,6184,737,643
John BurkartPSU2025-10-30—285,649—714,12247,468,722
Matthew McQueenPSU2025-10-30—271,367—678,41645,095,361
Shankh MitraPSU2025-01-0232,215132,023—475,28224,052,184
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Timothy McHugh$74,581,308$89,172,332$054.5%
Matthew McQueen41,073,79349,833,004054.8%
Nikhil Chaudhri83,228,28799,030,308054.3%
John Burkart43,235,49954,028,701055.5%
Shankh Mitra024,052,1840100.0%

% 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
Shankh MitraRSU2,485,146—$461,267,949
Nikhil ChaudhriRSU57,564—10,684,454
Matthew McQueenRSU3,349—621,608
Nikhil ChaudhriRSU2,517—467,180
Nikhil ChaudhriRSU549,874—102,062,113
Timothy McHughRSU492,745—91,458,399
Shankh MitraRSU475,282—88,217,092
John BurkartRSU285,649—53,019,311
Shankh MitraRSU276,735—51,364,783
Matthew McQueenRSU271,367—50,368,429
Matthew McQueenRSU36,556—6,785,159
Shankh MitraRSU217,158—40,306,696
Nikhil ChaudhriRSU21,508—3,992,100
Shankh MitraRSU193,535—35,922,031
John BurkartRSU10,725—1,065,422
Nikhil ChaudhriRSU151,228—28,069,429
Timothy McHughRSU144,028—26,733,037
Timothy McHughRSU131,332—24,376,533
John BurkartRSU131,332—24,376,533
John BurkartRSU60,180—11,170,010
John BurkartRSU129,628—24,060,253
Matthew McQueenRSU93,618—17,376,437
Timothy McHughRSU77,186—14,326,493
Timothy McHughRSU75,264—13,969,751
Nikhil ChaudhriRSU65,666—12,188,266
Timothy McHughRSU6,894—1,279,595
John BurkartRSU64,514—11,974,444
Matthew McQueenRSU38,986—7,236,191
Shankh MitraRSU61,546—6,289,386
Matthew McQueenRSU37,523—6,964,644
Shankh MitraRSU25,464—4,726,373
Shankh MitraRSU22,647—4,203,510
Nikhil ChaudhriRSU20,614—3,826,165
Matthew McQueenRSU4,278—794,040
Shankh MitraRSU17,726—3,290,123
Shankh MitraRSU32,174—3,196,165
Timothy McHughRSU30,773—3,144,693
John BurkartRSU10,950—2,393,123
Nikhil ChaudhriRSU9,848—1,006,367
Matthew McQueenRSU9,848—1,006,367
Timothy McHughRSU8,808—1,634,853
John BurkartRSU15,387—1,572,398
John BurkartRSU7,549—1,401,170
Timothy McHughRSU4,171—414,347
Nikhil ChaudhriRSU520—96,517
John BurkartRSU2,955—548,478
Nikhil ChaudhriRSU5,029—473,631
Timothy McHughRSU2,064—383,099
Nikhil ChaudhriRSU1,970—365,652
Matthew McQueenRSU1,239—229,971
05

Incentive-plan design — the Compensation Discussion & Analysis

Welltower's compensation philosophy is designed to encourage long-term shareholder value creation rather than maximizing short-term shareholder value. Performance is evaluated based on quantitative and qualitative factors, with a focus on both 'what' is achieved and 'how' it is achieved, ensuring that compensation policies do not encourage excessive risk-taking.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantFerguson Partners Consulting
Clawback policytrue
Anti-hedgingtrue
Anti-pledging—
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-21120,364,416515,585,6501,208,87718.89%Failed
20252025-05-22540,290,90534,635,6101,804,10793.68%Passed
20242024-05-23487,289,12028,659,611896,06494.28%Passed
20232023-05-23226,487,722210,356,346598,32651.78%Passed
20222022-05-23329,458,60658,565,358751,00584.74%Passed
20212021-05-26326,285,18022,639,575651,27793.34%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
20262026-05-2118.89%a
20252025-05-2293.68%b
20242024-05-2394.28%c

a. Approved under the standard stated in the filing — “If you elect to abstain on Proposals 2 and 3, the abstention will have the same effect as an "against" vote.”.

b. Approved under the standard stated in the filing — “If you elect to abstain on Proposals 2, 3, and 4 the abstention will have the same effect as an "against" vote.”.

c. Approved under the standard stated in the filing — “If you elect to abstain on Proposals 2, 3, 4, and 5 the abstention will have the same effect as an "against" vote.”.

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)6,569 : 1
CEO total compensation$821,090,355
Median employee compensation$124,995
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Kenneth J. BaconIndependent · Board Chair · Executive (Chair)$445,000$220,133———$665,133
Ade J. PattonIndependent · Audit · Compensation · Executive · Nominating/Corporate Governance (Chair)221,500220,133———441,633
Kathryn M. SullivanIndependent · Audit (Chair) · Compensation · Executive209,000220,133———429,133
Sergio D. RiveraIndependent · Compensation · Executive · Investment (Chair)205,000220,133———425,133
Johnese M. SpissoIndependent · Compensation (Chair) · Executive · Nominating/Corporate Governance200,500220,133———420,633
Dennis G. LopezIndependent · Audit · Investment163,000220,133———383,133
Andrew GundlachIndependent · Audit · Investment161,500220,133———381,633
Karen B. DeSalvoIndependent · Investment · Nominating/Corporate Governance158,000220,133———378,133
Shankh MitraEmployee director · Executive—————0
09

Board fee structure and ownership guideline

Annual cash retainer$110,000
Annual equity retainer$220,000
Per board meeting fee$1,500
Committee chair fees (audit / comp / nom-gov)45,000 / 40,000 / 35,000
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,763,500
Equity awards (grant-date value)$1,761,064
All other compensation$0
Total cost of the board$3,524,564

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.

HCA HCA Healthcare, Inc.PLD Prologis, Inc.BXP BXP, Inc.APO Apollo Global Management, Inc.AMT American Tower CorporationSPG Simon Property Group, Inc.DLR Digital Realty Trust, Inc.O Realty Income CorporationCBRE CBRE Group, Inc.PSA Public StorageVTR Ventas, Inc.AVB AvalonBay Communities, Inc.EQR Equity ResidentialCG The Carlyle Group Inc.DOC Healthpeak Properties, Inc. CapitalizationHST Host Hotels & Resorts, Inc.EQIX Equinix, Inc.
10a

Peer reciprocity

Of the companies WELLTOWER 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.

— HCA Healthcare, Inc. (HCA)66✓ Prologis, Inc. (PLD)67— BXP, Inc. (BXP)68— Apollo Global Management, Inc. (APO)69✓ American Tower Corporation (AMT)70 Simon Property Group, Inc. (SPG)✓ Digital Realty Trust, Inc. (DLR)71✓ Realty Income Corporation (O)72— CBRE Group, Inc. (CBRE)73✓ Public Storage (PSA)74✓ Ventas, Inc. (VTR)75 AvalonBay Communities, Inc. (AVB)✓ Equity Residential (EQR)76— The Carlyle Group Inc. (CG)77✓ Healthpeak Properties, Inc. (DOC)78 Host Hotels & Resorts, Inc. (HST)— Equinix, Inc. (EQIX)79

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 WELLTOWER 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
2HCA Healthcare, Inc.2025Samuel Hazen1,577,8158,474,5438,514,0905,416,73226,456,606
3CBRE Group, Inc.2025Robert Sulentic1,350,00019,023,32403,638,82424,325,039
4BXP, Inc.2025Owen Thomas950,00019,317,94302,758,90023,047,305
5Equinix, Inc.2025Adaire Fox-Martin1,000,00021,416,95104322,654,885
6Digital Realty Trust, Inc.2025Andrew Power978,84614,174,68403,700,00021,071,498
7Ventas, Inc.2025Debra Cafaro1,162,72012,015,05104,087,30317,501,073
8Realty Income Corporation2025Sumit Roy1,000,0009,149,49604,981,01216,251,931
9Prologis, Inc.2025Daniel Letter795,38512,500,9900—15,190,625
10American Tower Corporation2025Steven Vondran1,000,00011,528,74802,280,00014,854,505
11Host Hotels & Resorts, Inc.2025James Risoleo1,100,0009,569,88003,697,10014,835,223
12Equity Residential2025Mark Parrell900,0008,023,6681,498,7412,317,61312,759,187
13Simon Property Group, Inc.2025David Simon1,250,0007,000,2610011,663,678
14Healthpeak Properties, Inc.2025Scott Brinker825,0007,208,68801,986,15610,072,994
15Public Storage2025Joseph Russell1,000,0003,982,3712,907,5832,005,8239,909,777
16AvalonBay Communities, Inc.2025Benjamin Schall1,000,0006,319,735482,3651,815,5409,663,500
17The Carlyle Group Inc.2025Harvey Schwartz1,000,000——6,000,0007,149,859
18Apollo Global Management, Inc.2025Marc Rowan100,000000913,367

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
WELLTOWER INC.200%not disclosedYes — TSR vs FTSE NAREIT Equity Health Care IndexFerguson Partners Consulting
American Tower Corporation114%PSU 70 · RSU 30Yes — Relative TSRMeridian Compensation Partners, LLC
Apollo Global Management, Inc.94%RSU 100not disclosedSemler Brossy Consulting Group, LLC
AvalonBay Communities, Inc.104.8%PSU 100NoFerguson Partners Consulting L.P.
BXP, Inc.117.4%PSU 55 · RSU 45Yes — Relative TSR with aTSR ModifierFW Cook
CBRE Group, Inc.134.8%PSU 34 · RSU 33 · MSU 33Yes — Relative TSRFrederic W. Cook & Co., Inc.
Digital Realty Trust, Inc.378%PSU 60 · LTIP Units 40NoSemler Brossy
Equinix, Inc.99%PSU 59 · RSU 29Yes — rTSRCompensia
Equity Residentialnot disclosedLTI Awards 100not disclosedFerguson Partners Consulting
HCA Healthcare, Inc.195.78%SAR 50 · PSU 50NoSemler Brossy
Healthpeak Properties, Inc.127%PSU 60 · RSU 40Yes — 3-Year Relative TSR PerformanceFerguson Partners Consulting
Host Hotels & Resorts, Inc.not disclosedPSU 60 · RSU 40Yes — Relative TSRPay Governance
Prologis, Inc.137.5%PSU 100NoPay Governance
Public Storagenot disclosedPSU 80 · Options 20NoFerguson Partners Consulting
Realty Income Corporation199%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
The Carlyle Group Inc.200%not disclosedNoPay Governance
Ventas, Inc.352%PSU 70 · RSU 30Yes — TSR Relative to the Nareit Health Care IndexSemler Brossy

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.

10d

Frequently asked questions

Who was the highest-paid executive at WELLTOWER INC. in fiscal 2025?
As disclosed, Shankh Mitra (Chief Executive Officer) was the highest-paid executive at WELLTOWER INC. in fiscal 2025, with total compensation of $821,090,355.
How does WELLTOWER INC.'s chief executive pay compare to its disclosed peer group?
As disclosed, Shankh Mitra's total compensation ranked at the 99th percentile of WELLTOWER INC.'s disclosed peer group.
What is WELLTOWER INC.'s CEO-to-median employee pay ratio?
As disclosed, WELLTOWER INC.'s CEO-to-median employee pay ratio was 6569:1.
How did shareholders vote on WELLTOWER INC.'s executive compensation?
As disclosed, 18.89% of shareholders supported WELLTOWER INC.'s executive compensation in the latest say-on-pay vote.
How much does WELLTOWER INC. spend in total on board compensation for fiscal 2025?
As disclosed, WELLTOWER INC. reported total board compensation of $3,524,564 for fiscal 2025.

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, Shankh MitraDEF 14A2026-04-100000766704-26-000014Section “Summary Compensation Table” · page 65. As printed: 821,090,355. Filing ↗machine: r3 · c24 · span 1124520–1124531
2Section 01, Nikhil ChaudhriDEF 14A2026-04-100000766704-26-000014Section “Summary Compensation Table” · page 65. As printed: 185,810,445. Filing ↗machine: r11 · c24 · span 1138577–1138588
3Section 01, Timothy McHughDEF 14A2026-04-100000766704-26-000014Section “Summary Compensation Table” · page 65. As printed: 166,955,140. Filing ↗machine: r7 · c24 · span 1131437–1131448
4Section 01, John BurkartDEF 14A2026-04-100000766704-26-000014Section “Summary Compensation Table” · page 65. As printed: 100,240,700. Filing ↗machine: r14 · c24 · span 1143198–1143209
5Section 01, Matthew McQueenDEF 14A2026-04-100000766704-26-000014Section “Summary Compensation Table” · page 65. As printed: 93,458,297. Filing ↗machine: r18 · c24 · span 1150388–1150398
6Section 03, Timothy McHugh RSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1169993–1170003
7Section 03, Matthew McQueen RSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1179963–1179973
8Section 03, Nikhil Chaudhri RSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1173320–1173330
9Section 03, John Burkart RSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1176507–1176517
10Section 03, Timothy McHugh PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1170401–1170411
11Section 03, Nikhil Chaudhri PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1172849–1172858
12Section 03, Timothy McHugh PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1169522–1169531
13Section 03, John Burkart PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1176036–1176045
14Section 03, Nikhil Chaudhri PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1173728–1173738
15Section 03, Matthew McQueen PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1179428–1179437
16Section 03, John Burkart PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1176915–1176925
17Section 03, Matthew McQueen PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1180435–1180445
18Section 03, Shankh Mitra PSUDEF 14A1900-01-010000766704-26-000014Section “Grants of Plan-Based Awards Table” · grants of plan-based awards table. Filing ↗machine: span 1167952–1167962
19Section 07, pay ratioDEF 14A2026-04-100000766704-26-000014Section “CEO Pay Ratio”. As printed: 6569 : 1. Filing ↗machine: span 1633514–1633519
20Section 08, Kenneth J. BaconDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 665,133. Filing ↗machine: span 548938–549209
21Section 08, Ade J. PattonDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 441,633. Filing ↗machine: span 556337–556608
22Section 08, Kathryn M. SullivanDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 429,133. Filing ↗machine: span 562086–562389
23Section 08, Sergio D. RiveraDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 425,133. Filing ↗machine: span 558188–558459
24Section 08, Johnese M. SpissoDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 420,633. Filing ↗machine: span 560040–560311
25Section 08, Dennis G. LopezDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 383,133. Filing ↗machine: span 554489–554760
26Section 08, Andrew GundlachDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 381,633. Filing ↗machine: span 552639–552910
27Section 08, Karen B. DeSalvoDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 378,133. Filing ↗machine: span 550789–551060
28Section 08, Shankh MitraDEF 14A2026-04-100000766704-26-000014Section “Director Compensation”. As printed: 0. Filing ↗
29Section 02, Kenneth J. Bacon 2026-05-01Form 42026-05-050001193125-26-206637Insider equity transaction reported since the proxy statement. Filing ↗
30Section 02, Kenneth J. Bacon 2026-05-01Form 42026-05-050001193125-26-206637Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, Dennis G. Lopez 2026-05-21Form 42026-05-260001193125-26-239608Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Shankh Mitra 2026-05-27Form 42026-05-270001193125-26-242148Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Timothy McHugh 2026-05-29Form 42026-09-300001193125-26-409228Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Shankh Mitra 2026-05-31Form 42026-06-290001193125-26-288714Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Shankh Mitra 2026-06-26Form 42026-06-290001193125-26-288714Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Dennis G. Lopez 2026-08-20Form 42026-08-240001193125-26-363709Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Andrew Gundlach 2026-08-25Form 42026-08-270001193125-26-371418Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, Andrew Gundlach 2026-08-25Form 42026-08-270001193125-26-371418Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Andrew Gundlach 2026-08-26Form 42026-08-270001193125-26-371418Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Andrew Gundlach 2026-08-26Form 42026-08-270001193125-26-371418Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, Timothy McHugh 2026-09-29Form 42026-09-300001193125-26-409228Insider equity transaction reported since the proxy statement. Filing ↗
42Section 06, 2026 voteForm 8-K2026-05-220001193125-26-237176Item 5.07 · say-on-pay result. As reported: 18.89% (votes for as printed: 120,364,416). Filing ↗
43Section 06, 2025 voteForm 8-K2025-05-230001193125-25-125835Item 5.07 · say-on-pay result. As reported: 93.68% (votes for as printed: 540,290,905). Filing ↗
44Section 06, 2024 voteForm 8-K2024-05-240001193125-24-147022Item 5.07 · say-on-pay result. As reported: 94.28% (votes for as printed: 487,289,120). Filing ↗
45Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
46Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
47Section 09b board cost (computed)Computed——Cash 1,763,500 + equity 1,761,064 + all other 0 = 3,524,564, summed across the director compensation table rows.machine: formula: Σ = 3,524,564
48WELLTOWER INC. (subject), 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: r3 · c24 · span 1124520–1124531
49HCA Healthcare, Inc., Section 10b CEO totalDEF 14A2026-03-130001193125-26-106142CEO total compensation as printed in HCA Healthcare, Inc.'s own proxy. As printed: 26,456,606. Filing ↗machine: span 784078–784088
50CBRE Group, Inc., Section 10b CEO totalDEF 14A2026-04-030001193125-26-141285CEO total compensation as printed in CBRE Group, Inc.'s own proxy. As printed: 24,325,039. Filing ↗machine: t20 · r6 · c18 · span 508434–508444
51BXP, Inc., Section 10b CEO totalDEF 14A2026-04-100001037540-26-000010CEO total compensation as printed in BXP, Inc.'s own proxy. As printed: 23,047,305. Filing ↗machine: span 1785714–1785724
52Equinix, 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
53Digital 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
54Ventas, Inc., 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
55Realty Income Corporation, Section 10b CEO totalDEF 14A2026-03-250000726728-26-000021CEO total compensation as printed in Realty Income Corporation's own proxy. As printed: 16,251,931. Filing ↗machine: r3 · c18 · span 1118130–1118140
56Prologis, 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
57American Tower Corporation, Section 10b CEO totalDEF 14A2026-04-080001053507-26-000088CEO total compensation as printed in American Tower Corporation's own proxy. As printed: 14,854,505. Filing ↗machine: span 1362503–1362513
58Host Hotels & Resorts, Inc., Section 10b CEO totalDEF 14A2026-04-080001070750-26-000062CEO total compensation as printed in Host Hotels & Resorts, Inc.'s own proxy. As printed: 14,835,223. Filing ↗machine: r6 · c10 · span 2451418–2451428
59Equity 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: r5 · c25 · span 1751089–1751100
60Simon 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
61Healthpeak 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
62Public Storage, Section 10b CEO totalDEF 14A2026-03-270001193125-26-128991CEO total compensation as printed in Public Storage's own proxy. As printed: 9,909,777. Filing ↗machine: t75 · r4 · c29 · span 2764941–2764950
63AvalonBay 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
64The Carlyle Group Inc., Section 10b CEO totalDEF 14A2026-04-230001527166-26-000017CEO total compensation as printed in The Carlyle Group Inc.'s own proxy. As printed: 7,149,859. Filing ↗machine: span 1925524–1925533
65Apollo Global Management, Inc., Section 10b CEO totalDEF 14A2026-04-240001193125-26-177321CEO total compensation as printed in Apollo Global Management, Inc.'s own proxy. As printed: 913,367. Filing ↗machine: r2 · c21 · span 538543–538550
66Section 10a, HCA Healthcare, Inc. reciprocityDEF 14A—0001193125-26-106142HCA Healthcare, Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗
67Section 10a, Prologis, Inc. reciprocityDEF 14A—0001193125-26-115132Prologis, Inc. names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
68Section 10a, BXP, Inc. reciprocityDEF 14A—0001037540-26-000010BXP, Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗
69Section 10a, Apollo Global Management, Inc. reciprocityDEF 14A—0001193125-26-177321Apollo Global Management, Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗
70Section 10a, American Tower Corporation reciprocityDEF 14A—0001053507-26-000088American Tower Corporation names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
71Section 10a, Digital Realty Trust, Inc. reciprocityDEF 14A—0001308179-26-000296Digital Realty Trust, Inc. names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
72Section 10a, Realty Income Corporation reciprocityDEF 14A—0000726728-26-000021Realty Income Corporation names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
73Section 10a, CBRE Group, Inc. reciprocityDEF 14A—0001193125-26-141285CBRE Group, Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗
74Section 10a, Public Storage reciprocityDEF 14A—0001193125-26-128991Public Storage names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
75Section 10a, Ventas, Inc. reciprocityDEF 14A—0000740260-26-000010Ventas, Inc. names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
76Section 10a, Equity Residential reciprocityDEF 14A—0001193125-26-155007Equity Residential names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
77Section 10a, The Carlyle Group Inc. reciprocityDEF 14A—0001527166-26-000017The Carlyle Group Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗
78Section 10a, Healthpeak Properties, Inc. reciprocityDEF 14A—0001104659-26-027086Healthpeak Properties, Inc. names WELLTOWER INC. in its own disclosed peer group (read from its most recent proxy). Filing ↗
79Section 10a, Equinix, Inc. reciprocityDEF 14A—0001101239-26-000073Equinix, Inc.'s most recent proxy was read; its disclosed peer group does not include WELLTOWER INC.. Filing ↗

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