CEO reported a gift or transfer of 60K DOC shares

1. Represents a class of units of membership interests in Healthpeak OP, LLC, a Maryland limited liability company ("Healthpeak OP"), the operating subsidiary of the Issuer, designated as "LTIP Units" intended to qualify as profits interests for U.S. federal income tax purposes, and upon achieving equivalent capital account balance per unit and applicable vesting conditions, the LTIP Units were converted at the election of the reporting person into common unit membership interests in Healthpeak OP (the "OP Units"). The OP Units reflected in this report are redeemable, at the election of the holder, for cash equal to the fair market value of one share of the Issuer's Common Stock or, at the option of Healthpeak OP, convertible to shares of the Issuer's Common Stock on a one-for-one basis, and have no expiration date.
2. The OP Units reflected in this report were previously reported as LTIP Units directly held by the reporting person and were transferred to a revocable trust of the reporting person's spouse.

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