LTC PROPERTIES INC — Director's Dealing 2009

Dec 24, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2009-12-22

Reporting Person: SHELLEY-KESSLER PAMELA (SVP, CFO & Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-12-22	Common Stock	F	2100	$23.79	Acquired	38827	Direct
2009-12-22	Common Stock	S	1800	$27.75	Disposed	37027	Direct
2009-12-22	Common Stock	S	200	$27.76	Disposed	36827	Direct
2009-12-22	Common Stock	S	100	$27.81	Disposed	36727	Direct
2009-12-23	Common Stock	F	17900	$23.79	Acquired	54627	Direct
2009-12-23	Common Stock	S	13507	$27.60	Disposed	41120	Direct
2009-12-23	Common Stock	S	2112	$27.61	Disposed	39008	Direct
2009-12-23	Common Stock	S	1800	$27.75	Disposed	37208	Direct
2009-12-23	Common Stock	S	200	$27.77	Disposed	37008	Direct
2009-12-23	Common Stock	S	277	$27.78	Disposed	36731	Direct
2009-12-23	Common Stock	S	4	$27.80	Disposed	36727	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2009-12-22	Stock Options	$23.79	F	2100	Disposed	2015-05-15	Common Stock (10000)	Direct
2009-12-23	Stock Options	$23.79	F	7900	Disposed	2015-05-15	Common Stock (7900)	Direct
2009-12-23	Stock Options	$23.79	F	10000	Disposed	2016-05-15	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1118	Indirect
Common Stock	1000	Indirect
Preferred Series F Stock	2250	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$23.79	2017-05-15	Common Stock (10000)	10000	Direct

Footnotes

F1: Company contribution/reinvestment of dividend held on shares held in deferred compensation trust. Individuals have no voting rights over such shares.