Ventas, Inc. — Director's Dealing 2018

May 15, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: VENTAS INC (VTR)
CIK: 0000740260
Period of Report: 2018-05-14

Reporting Person: CAFARO DEBRA A (Director, Chairman and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-14	Common Stock	M	30944	$37.51	Acquired	775111	Direct
2018-05-14	Common Stock	S	30944	$53.1766	Disposed	744167	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-05-14	Stock Option (Right to Buy)	$37.51	M	30944	Disposed	2020-01-20	Common Stock (30944.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	5000	Indirect

Footnotes

F1: On May 14, 2018, the Reporting Person transmitted to the Securities and Exchange Commission (the "SEC") a Form 144 covering the sale of the Issuer's common stock reported in Table I. The shares are being sold pursuant to a written non-discretionary 10b5-1 sales plan dated May 10, 2018 entered into by Reporting Person. 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 $52.98 to $53.46, inclusive. The Reporting Person undertakes to provide Issuer, any security holder of Issuer or the staff of the SEC, 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 by the Issuer to the Reporting Person which vested in three equal annual installments beginning on January 20, 2010.