Proxy firm recommends National Health investors vote for L&B nominees

Land & Buildings Investment Management, LLC, a significant stockholder of National Health Investors (NHI), announced that independent proxy advisory firm Glass, Lewis & Co., LLC has recommended that stockholders vote “FOR” the election of Land & Buildings’ independent nominees – Jim Hoffmann and Adam Troso – to the company’s Board of Directors at the 2025 Annual Meeting of Stockholders, scheduled for May 21. In its report, Glass Lewis supported Land & Buildings’ case for change, stating:”(Robert Adams and Jimmy Jobe’s) prolonged tenure and historical ties to (National Healthcare Corp.) continue to raise legitimate questions about their ability to provide fully objective oversight in connection with one of the Company’s most sensitive and strategically significant leases.” Land & Buildings Founder and Chief Investment Officer, Jonathan Litt stated: “We are pleased that Glass Lewis has recognized the need for change in the NHI boardroom and shares our concerns regarding the Board’s interconnections and oversight of long-term underperformance. In its report, Glass Lewis agrees that Land & Buildings’ nominees, Jim Hoffmann and Adam Troso, would bring the necessary skill sets and objectivity to enhance the Board’s independence, restore credibility and help manage the analytical demands of the upcoming NHC lease negotiations. Now is a critical time to improve stewardship. If elected, Jim and Adam are prepared to work collaboratively in the boardroom to prioritize stockholder value and help realize NHI’s true potential as a best-in-class REIT.”