National Healthcare Properties, Inc. filed a Form 8-K on November 9, 2026, disclosing that its Board of Directors elected Jeffrey S. Olson and Craig S. Smith as new independent directors, effective November 9, 2026, following a board expansion from six to eight members.

Key Highlights

  • Board expansion: The Board increased its size from six to eight directors on November 6, 2026, upon recommendation of the Compensation and Corporate Governance Committee.
  • Jeffrey S. Olson elected: Olson, Chairman and Chief Executive Officer of Urban Edge Properties (NYSE: UE), was appointed to the Board and assigned to the CCG Committee, effective November 9, 2026.
  • Craig S. Smith elected: Smith, Chief Executive Officer of Aimbridge Hospitality since 2024, was appointed to the Board and assigned to the Audit Committee, effective November 9, 2026.
  • Independence determinations: The Board determined both Olson and Smith are "independent" as defined under Nasdaq Stock Market listing standards and the Company's corporate governance guidelines.
  • Audit committee qualification: The Board also determined that Smith satisfies the additional independence requirements for audit committee members under Rule 10A-3 of the Securities Exchange Act of 1934.
  • Term of service: Each director will serve until the 2027 annual meeting of stockholders, or until his earlier death, resignation, or removal.
  • Compensation reference: Director compensation will follow the terms described in the Company's Proxy Statement on Schedule 14A filed with the SEC on March 31, 2026.

National Healthcare Properties Adds Two Independent Directors in November 2026 Board Expansion

According to the filing, the Board of National Healthcare Properties, Inc. (NASDAQ:NHP) acted on November 6, 2026, to increase its size from six to eight members. Two individuals, Jeffrey S. Olson and Craig S. Smith, were elected to fill the vacancies created by that expansion, with both appointments taking effect November 9, 2026. The move followed a recommendation from the Compensation and Corporate Governance Committee.

The filing describes Olson as a public REIT executive who has served as chief executive officer of two public retail REITs over the past 20 years. He currently serves as Chairman and Chief Executive Officer of Urban Edge Properties, which he led through its 2015 spin-off from Vornado Realty Trust. He previously held executive roles at Equity One, Inc. and Kimco Realty Corporation, and holds degrees from the University of Maryland and The Johns Hopkins University. The Board stated it determined Olson is independent under Nasdaq listing standards and assigned him to the CCG Committee.

Smith is described in the filing as a hospitality executive with more than 35 years of leadership experience. He has served as Chief Executive Officer of Aimbridge Hospitality since 2024, overseeing a portfolio of more than 1,000 properties in over 20 countries. He previously held senior roles at Marriott International, including Group President and Managing Director of the International Division. The Board determined Smith is independent under Nasdaq listing standards and also satisfies the additional independence requirements for audit committee members under Rule 10A-3 of the Securities Exchange Act of 1934, as amended. He was assigned to the Audit Committee. The filing states there are no family relationships, undisclosed arrangements, or related-party transactions requiring disclosure under Item 404(a) of Regulation S-K for either director.

What Was Disclosed

National Healthcare Properties disclosed the expansion of its Board from six to eight directors and the election of Jeffrey S. Olson and Craig S. Smith as independent directors effective November 9, 2026, along with their committee assignments and the terms of their standard indemnification agreements.