Ventas, Inc. — Director's Dealing 2012

May 25, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VENTAS INC (VTR)
CIK: 0000740260
Period of Report: 2012-05-25

Reporting Person: LEWIS RAYMOND J (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-25	Common Stock	M	49024	$44.56	Acquired	209534	Direct
2012-05-25	Common Stock	S	49024	$58.1734	Disposed	160510	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-25	Stock Option (Right to Buy)	$44.56	M	49024	Disposed	2020-01-20	Common Stock (49024)	Direct

Footnotes

F1: On May 25, 2012, the Reporting Person transmitted to the Securities and Exchange Commission a Form 144 covering the sale of the Issuer's common stock reported on Table I. The price reported in column 4 is a weighted average price. These shares were sold by the Reporting Person in multiple transactions at prices ranging from $58.015 to $58.47, inclusive. Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (1).

F2: These options were part of a previously reported grant of 49,024 on January 20, 2010, by the Issuer to the Reporting Person that vested in three equal installments on January 20, 2010, January 20, 2011 and January 20, 2012.

F3: Represents total number of unexercised stock options held by the Reporting Person as of May 25, 2012.