What the executives and directors of Ventas actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| CAFARO DEBRA A Chairman and CEO | CEO | 1.4M | — | $51M |
| Hutchens James Justin EVP Senior Housing and CIO | Officer | 196.5K | — | — |
| Probst Robert F EVP and CFO | CFO | 169.8K | — | $4.9M |
| Bulgarelli Peter J. EVP OM&R-Ventas/Pres&CEO-LHS | CEO | 124.4K | — | $1.1M |
| LUSTIG MATTHEW J | Director | 95.7K | — | — |
| Roberts Carey S. EVP and GC | Officer | 72.8K | — | $3M |
| SHELTON JAMES D | Director | 72.4K | — | — |
| Martino Roxanne M | Director | 66.8K | — | — |
| Barnes Melody C | Director | 35.4K | — | — |
| Smith Maurice S | Director | 31.2K | — | — |
| RAKOWICH WALTER C | Director | 28.3K | — | $104K |
| Nolan Sean P. | Director | 26.2K | — | — |
| Roy Sumit | Director | 24.8K | — | — |
| NADER MARGUERITE M | Director | 23.5K | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-03 | EMBLER MICHAEL J (Director) | Open-market buy | 2,500 | $78.81 | $197K |
| 2026-05-14 | RAKOWICH WALTER C (Director) | Planned sale (10b5-1) | 1,152 | $90.20 | $104K |
| 2026-02-11 | Roberts Carey S. (Officer) | Discretionary sale | 35.5K | $85.00 | $3M |
| 2026-02-06 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $82.23 | $849K |
| 2026-02-02 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $77.66 | $802K |
| 2026-01-02 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $77.26 | $797K |
| 2026-01-02 | Probst Robert F (CFO) | Planned sale (10b5-1) | 29.9K | $77.25 | $2.3M |
| 2025-12-01 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $80.55 | $831K |
| 2025-11-19 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 2,229 | $80.08 | $178K |
| 2025-11-18 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 2,771 | $80.01 | $222K |
| 2025-11-17 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 41.3K | $79.01 | $3.3M |
| 2025-11-12 | Probst Robert F (CFO) | Planned sale (10b5-1) | 33.6K | $76.77 | $2.6M |
| 2025-11-07 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 40 | $75.70 | $3K |
| 2025-11-06 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 264 | $75.05 | $20K |
| 2025-11-06 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 166 | $75.15 | $12K |
| 2025-11-05 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 19.3K | $75.29 | $1.4M |
| 2025-11-05 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 870 | $75.28 | $65K |
| 2025-11-04 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 11.5K | $75.02 | $859K |
| 2025-11-04 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 3,924 | $75.00 | $294K |
| 2025-11-03 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $73.74 | $761K |
| 2025-11-03 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $73.98 | $764K |
| 2025-10-30 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 20.6K | $74.34 | $1.5M |
| 2025-10-30 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 31K | $74.32 | $2.3M |
| 2025-10-30 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 41.3K | $73.64 | $3M |
| 2025-10-30 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 224.4K | $74.34 | $16.7M |
| 2025-10-20 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 34.2K | $71.32 | $2.4M |
| 2025-10-20 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 185.3K | $71.32 | $13.2M |
| 2025-10-01 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $70.24 | $725K |
| 2025-10-01 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 2,554 | $70.26 | $179K |
| 2025-09-30 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 2,040 | $69.99 | $143K |
| 2025-09-15 | Bulgarelli Peter J. (CEO) | Planned sale (10b5-1) | 406 | $70.00 | $28K |
| 2025-09-02 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $67.80 | $700K |
| 2025-08-04 | Probst Robert F (CFO) | Planned sale (10b5-1) | 29.7K | $68.49 | $2M |
| 2025-08-01 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 10.3K | $67.40 | $696K |
| 2025-07-31 | Probst Robert F (CFO) | Planned sale (10b5-1) | 3,900 | $68.45 | $267K |
| 2025-07-21 | Probst Robert F (CFO) | Planned sale (10b5-1) | 29.5K | $66.29 | $2M |
| 2025-07-18 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 4,375 | $65.82 | $288K |
| 2025-07-18 | Probst Robert F (CFO) | Planned sale (10b5-1) | 4,098 | $66.24 | $271K |
| 2025-07-16 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 1,224 | $65.62 | $80K |
| 2025-07-15 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 292 | $65.65 | $19K |
| 2025-07-14 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 14.8K | $65.60 | $968K |
| 2025-07-14 | Probst Robert F (CFO) | Planned sale (10b5-1) | 168.3K | $65.36 | $11M |
| 2025-05-30 | Roberts Carey S. (Officer) | Discretionary sale | 23.5K | $64.23 | $1.5M |
| 2025-05-27 | Probst Robert F (CFO) | Planned sale (10b5-1) | 17.4K | $65.22 | $1.1M |
| 2025-05-21 | Probst Robert F (CFO) | Planned sale (10b5-1) | 33.6K | $64.57 | $2.2M |
| 2025-05-21 | Probst Robert F (CFO) | Planned sale (10b5-1) | 36K | $64.62 | $2.3M |
| 2025-05-14 | RAKOWICH WALTER C (Director) | Planned sale (10b5-1) | 1,459 | $63.76 | $93K |
| 2025-05-02 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 1,212 | $66.45 | $81K |
| 2025-05-01 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 9,110 | $66.04 | $602K |
| 2025-04-03 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 7,062 | $71.06 | $502K |
| 2025-04-03 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 37.5K | $71.06 | $2.7M |
| 2025-03-04 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 1,200 | $71.04 | $85K |
| 2025-03-03 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 388 | $71.00 | $28K |
| 2025-02-28 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 41.3K | $69.08 | $2.9M |
| 2025-02-25 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 214.7K | $68.22 | $14.6M |
| 2025-02-24 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 9,680 | $68.00 | $658K |
| 2025-02-13 | Liebbe Gregory R (Officer) | Planned sale (10b5-1) | 3,866 | $63.00 | $244K |
| 2024-10-30 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 34.1K | $66.67 | $2.3M |
| 2024-10-29 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 121.2K | $66.17 | $8M |
| 2024-10-25 | CAFARO DEBRA A (CEO) | Planned sale (10b5-1) | 6,004 | $66.11 | $397K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.