Ventas, Inc. — Director's Dealing 2011

Jan 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VENTAS INC (VTR)
CIK: 0000740260
Period of Report: 2011-01-01

Reporting Person: GELLERT JAY M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-01	Common Stock	A	238.186	$52.48	Acquired	39089.49	Direct
2011-01-01	Common Stock	A	1025	—	Acquired	40428.082	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-01-01	Stock Option (Right to Buy)	$52.48	A	5000	Acquired	2021-01-01	Common Stock (5000)	Direct

Footnotes

F1: Common Stock in the form of Units granted under the Ventas Nonemployee Director Deferred Stock Compensation Plan (the "Plan") in lieu of Director fees pursuant to the Director's deferral election. Such Units are payable solely in Common Stock and subject to the terms and conditions of the Director's deferral election and the Plan.

F2: Restricted Stock Units granted by Issuer pursuant to the Ventas, Inc. 2006 Stock Plan for Directors (the " Stock Plan"). Such Units are payable solely in Common Stock and subject to the terms and conditions of the Director's deferral election and the Stock Plan. These Restricted Stock Units vest in two equal annual installments beginning on the first anniversary of the date of grant.

F3: Includes 120.168 Units acquired on December 30, 2010 under the Plan as a result of dividend equivalents credited with respect to the dividend on Issuer's Common Stock paid on December 30, 2010.

F4: Includes 193.424 shares acquired on December 30, 2010 under the Ventas, Inc. Distribution Reinvestment and Stock Purchase Plan.

F5: Stock options granted by Issuer pursuant to the Stock Plan.

F6: These options vest in two equal annual installments beginning on the date of grant.

F7: Represents total number of unexercised stock options owned by the Reporting Person as of January 1, 2011.