HEALTHPEAK PROPERTIES, INC. — Director's Dealing 2012

Feb 1, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HCP, INC. (HCP)
CIK: 0000765880
Period of Report: 2012-01-29

Reporting Person: HENNING EDWARD J (Executive Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-29	Common Stock	F	816	$41.92	Disposed	156665	Direct
2012-01-30	Common Stock	F	1672	$41.64	Disposed	154993	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-01-30	Employee Stock Option	$41.64	A	4732	Acquired	2022-01-30	Common Stock (4732)	Direct

Footnotes

F1: Options vest 25% annually commencing on January 30, 2013, the first anniversary of the grant.