# EDGAR Filing Document

**Accession Number:** 0000877860
**File Stem:** 0000877860-26-000030
**Filing Date:** 2026-2
**Character Count:** 16283
**Document Hash:** 62109dea763cfb87e630c383604ec848
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000877860-26-000030.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000877860-26-000030

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20260217

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NATIONAL HEALTH INVESTORS INC
- **CENTRAL INDEX KEY:** 0000877860
- **STANDARD INDUSTRIAL CLASSIFICATION:** REAL ESTATE INVESTMENT TRUSTS [6798]
- **ORGANIZATION NAME:** 05 Real Estate & Construction
- **EIN:** 621470956
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10822
- **FILM NUMBER:** 26665553

**BUSINESS ADDRESS:**
- **STREET 1:** 222 ROBERT ROSE DRIVE
- **CITY:** MURFREESBORO
- **STATE:** TN
- **ZIP:** 37129
- **BUSINESS PHONE:** 6158909100

**MAIL ADDRESS:**
- **STREET 1:** 222 ROBERT ROSE DRIVE
- **CITY:** MURFREESBORO
- **STATE:** TN
- **ZIP:** 37129

?xml version='1.0' encoding='ASCII'? nhi-20260217

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

Date of Report (Date of Earliest Reported): February 17, 2026

**<u>National Health Investors, Inc.</u>** 

(Exact name of registrant as specified in its charter)

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| | | |
|:---|:---|:---|
| **<u>Maryland</u>** | **<u>001-10822</u>** | **<u>62-1470956</u>** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |

---

<u>222 Robert Rose Drive,</u> 

<u>Murfreesboro, TN 37129</u> 

(Address of principal executive offices)

<u>(615) 890-9100</u> 

(Registrant's telephone number, including area code)

<u>Not Applicable</u>

(Former name, former address and former fiscal year,

if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)

Securities registered pursuant to Section 12(b) of the Act:

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| | | |
|:---|:---|:---|
| <u>Title of each Class</u> | <u>Trading Symbol(s)</u> | <u>Name of each exchange on which registered</u> |
| Common Stock, $0.01 par value | NHI | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

Emerging growth company &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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**Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**

On February 17, 2026, the Board of Directors (the "Board") of National Health Investors, Inc. (the "Company"), upon the recommendation of its Nominating and Corporate Governance Committee, increased the size of the Board and appointed Lilly H. Donohue to fill the vacant seat, effective immediately, with an initial term expiring at the 2026 annual meeting of stockholders (the "2026 Annual Meeting"). Ms. Donohue has not been appointed to any committees of the Board at this time.

Ms. Donohue is currently President and CEO of Everstory Partners (formerly StoneMor Inc.). Prior to joining Everstory Partners in November 2022, Ms. Donohue served as the CEO of Holiday Retirement, formerly the largest independent senior living owner and operator in the United States. Prior to Holiday Retirement, Ms. Donohue was responsible for setting up Fortress Investment Group's China investment office and was the President of Fortress Investment Group China. During her time in China, Ms. Donohue also built the leading senior living company and home care business (Starcastle (Xingbao) Senior Living) in Shanghai, China for Fortress Investment Group and was the CEO of Starcastle from its inception in 2013. Before moving to China in 2011, Ms. Donohue was a managing director and member of the management committee at Fortress Investment Group since its inception in May 1998. Prior to Fortress Investment Group, Ms. Donohue worked at BlackRock Financial Management Inc. from May 1992 to May 1997 where she was involved in all facets of raising capital, investing and managing BlackRock Asset Investors, a private equity fund. Ms. Donohue serves on the Board of Directors of Sonida Senor Living (NYSE: SNDA) and serves on its audit committee. Ms. Donohue received a Bachelor of Science in Business Administration from the Boston University Questrom School of Business.

There are no transactions and no proposed transactions between Ms. Donohue (or any member of her immediate family) and the Company (or any of its subsidiaries), and there is no arrangement or understanding between Ms. Donohue and any other person or entity pursuant to which Ms. Donohue was appointed as a director of the Company.

Ms. Donohue will receive compensation for her service on the Board in accordance with the Company's standard compensatory arrangements for non-employee directors. A description of the compensatory arrangements for non-employee directors is included in the Company's proxy statement on Schedule 14A for the 2025 annual meeting of stockholders, which was filed with the U.S. Securities and Exchange Commission on April 7, 2025.

A copy of the press release announcing the appointment is filed as Exhibit 99.1 to this Current Report on Form 8-K.

Also on February 17, 2026, D. Eric Mendelsohn, the President and Chief Executive Officer and a director of the Company, provided notice of his resignation as a director, effective immediately. Mr. Mendelsohn stated that the purpose of his decision to resign prior to completing his term, which would have expired at the 2027 annual meeting of stockholders, was to align the term of his directorship with the Company's newly declassified board structure and to allow him to stand for election at the 2026 Annual Meeting. Mr. Mendelsohn further expressed his willingness to be re-appointed to serve as a director and to hold such office until the expiration of the term at the 2026 Annual Meeting. The Board accepted Mr. Mendelsohn's resignation and immediately appointed him as a director to hold such office until the expiration of the term at the 2026 Annual Meeting. As a result of Mr. Mendelsohn's decision to stand for election at the 2026 Annual Meeting, at the time of the 2026 Annual Meeting, the declassification of the Board will be complete, with all nominees for election to the Board standing for election to a one-year term.

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| | |
|:---|:---|
| Exhibit Number | Description |
| 99.1 | Press Release Titled "<u>[NHI Announces Appointment of Lilly H. Donohue to the Board of Director](ex991_donohuepr2-23x26.htm)s</u>" dated February 23, 2026. |
| 104 | Cover page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). |

---

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| |
|:---|
| **NATIONAL HEALTH INVESTORS, INC.** |
| By: /s/ John L. Spaid |
| Name: John L. Spaid |
| Title: Chief Financial Officer |
| Date: February 23, 2026 |

---

## Exhibit 99.1

Exhibit 99.1

![nhilogo_cmyk2orangebluetraa.jpg](nhilogo_cmyk2orangebluetraa.jpg)

Contact: Dana Hambly, Vice President, Investor Relations

Phone: (615) 890-9100

**NHI Announces Appointment of Lilly H. Donohue to the Board of Directors** 

MURFREESBORO, Tenn.-- (February 23, 2026) -- National Health Investors, Inc. (NYSE:NHI) announced today that Lilly H. Donohue has been appointed to the NHI Board of Directors effective February 17, 2026. Ms. Donohue's appointment follows an extensive search performed by a third party executive and board recruitment firm.

Ms. Donohue is currently President and CEO of Everstory Partners (formerly StoneMor Inc.). Prior to joining Everstory Partners in November 2022, Ms. Donohue served as the CEO of Holiday Retirement, formerly the largest independent senior living owner and operator in the United States with over 300 communities in 46 states at such time. Prior to Holiday Retirement, Ms. Donohue was responsible for setting up Fortress Investment Group's China investment office and was the President of Fortress Investment Group China. During her time in China, Ms. Donohue also built the leading senior living company and home care business (Starcastle (Xingbao) Senior Living) in Shanghai, China for Fortress Investment Group and was the CEO of Starcastle from its inception in 2013. Before moving to China in 2011, Ms. Donohue was a managing director and member of the management committee at Fortress Investment Group since its inception in May 1998. Prior to Fortress Investment Group, Ms. Donohue worked at BlackRock Financial Management Inc. from May 1992 to May 1997 where she was involved in all facets of raising capital, investing and managing BlackRock Asset Investors, a private equity fund. Ms. Donohue serves on the Board of Directors of Sonida Senor Living (SNDA) and serves on its audit committee. Ms. Donohue received a Bachelor of Science in Business Administration from Boston University Questrom School of Business.

Eric Mendelsohn, NHI President and CEO, commented, "We are very pleased to welcome Lilly to the NHI Board of Directors. Lilly brings a diverse set of skills to the Board, including an extensive background in senior housing operations as the former CEO of Holiday Retirement. We expect her contributions to be immediate and add significant value as the Company is well-positioned to generate strong organic and external growth over the long term."

**About National Health Investors, Inc.** 

National Health Investors, Inc. (NYSE:NHI), established in 1991, is a self-managed real estate investment trust specializing in sale-leaseback, joint venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical facility investments. NHI operates in two reportable segments: Real Estate Investments and Senior Housing Operating Portfolio ("SHOP"). NHI's portfolio consists of independent living facilities, assisted living and memory care communities, entrance-fee retirement communities, senior living campuses, skilled nursing facilities and specialty hospitals. For more information, visit www.nhireit.com.

*This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the completion and timing of the proposed offering of securities by the Company and the intended use of net proceeds of such offering, and similar statements, including, without limitation, those containing words such as* 

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*"may", "will", "should", "believes", "anticipates", "expects", "intends", "estimates", "plans", "projects", "target", "likely" and other similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in the forward-looking statements. Such risks and uncertainties include, among other things: the operating success of our property managers, tenants and borrowers for collection of our lease and interest income; the risk that our property managers, tenants and borrowers may become subject to bankruptcy or insolvency proceedings; risks related to the concentration of a significant percentage of our portfolio to a small number of tenants; actual or perceived risks associated with pandemics, epidemics or outbreaks on our property managers', tenants' and borrowers' businesses and results of operations; risks related to governmental regulations and payors, principally Medicare and Medicaid, and the effect that lower reimbursement rates would have on our tenants' and borrowers' business; the risk that the cash flows of our property managers, tenants and borrowers would be adversely affected by increased liability claims and liability insurance costs; the risk that we may not be fully indemnified by our property managers, lessees and borrowers against future litigation; the success of property development and construction activities, which may fail to achieve the operating results we expect; the risk that the illiquidity of real estate investments could impede our ability to respond to adverse changes in the performance of our properties; the concentration of our investments in healthcare properties; inflation and increased interest rates; adverse developments affecting the financial services industry, including events or concerns involving liquidity, defaults, or non-performance by financial institutions; adverse geopolitical developments; operational risks with respect to our senior housing operating portfolio structured communities; risks related to our ability to maintain the privacy and security of our information; risks related to environmental laws and the costs associated with liabilities related to hazardous substances; the risk of damage from catastrophic weather and other natural or man-made disasters and the physical effects of climate change; the success of our future acquisitions and investments; our ability to reinvest cash in real estate investments in a timely manner and on acceptable terms; our ability to retain our management team and other personnel and attract suitable replacements should any such personnel leave; the risk that our assets may be subject to impairment charges; the potential need to incur more debt in the future, which may not be available on terms acceptable to us; our ability to meet covenants related to our indebtedness which impose certain operational limitations and a breach of those covenants could materially adversely affect our financial condition and results of operations; our dependence on revenues derived mainly from fixed rate investments in real estate assets, while a portion of our debt bears interest at variable rates; and our dependence on the ability to continue to qualify for taxation as a real estate investment trust and other risks which are described under the heading "Risk Factors" in Item 1A in our Form 10-K for the year ended December 31, 2024 and our Form 10-Q for the quarter ended September 30, 2025. Many of these factors are beyond the control of NHI and its management. NHI assumes no obligation to update any of the foregoing or any other forward looking statements, except as required by law, and these statements speak only as of the date on which they are made. Investors are urged to carefully review and consider the various disclosures made by NHI in its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information in the above referenced Form 10-K. Copies of each filing may be obtained from NHI or the SEC.*

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