LTC PROPERTIES INC — Director's Dealing 2009

Mar 3, 2009

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2009-02-27

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2009-02-27	Common Stock	A	5627	$17.06	Disposed	39027	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1059	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options	$23.79	2015-05-15	Common Stock (10000)	10000	Direct
Stock Options	$23.79	2016-05-15	Common Stock (10000)	20000	Direct
Stock Options	$23.79	2017-05-15	Common Stock (10000)	30000	Direct

Footnotes

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

F2: Restricted stock grant. Shares vest equally over three years based on the reporting person's continued employment at each vesting date.