LTC PROPERTIES INC — Director's Dealing 2010

Dec 16, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LTC PROPERTIES INC (LTC)
CIK: 0000887905
Period of Report: 2010-12-14

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-14	Common Stock	A	30300	$26.59	Acquired	72252	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	1000	Indirect
Preferred Series F Stock	1350	Indirect

Holdings (Derivative)

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

Footnotes

F1: Restricted stock grant. Shares vest equally over five years based on the reporting person's continued employment at each vesting date.

F2: The termination of the deferred compensation trust plan resulted in the delivery of 1,169 shares directly to the participant.