Diversified Healthcare Trust Announces Annual Meeting Results

Rhea-AI Summary

Diversified Healthcare Trust (Nasdaq: DHC) held its 2022 Annual Meeting of Shareholders, where significant outcomes included the re-election of key trustees. Lisa Harris Jones received 80.0% support, John L. Harrington 72.3%, Jennifer F. Francis 97.7%, and Adam D. Portnoy 67.3%. Shareholders approved executive compensation with a favorable vote of 90.3% and ratified the appointment of Deloitte & Touche LLP as independent auditors with 99.4% support. DHC operates a diverse portfolio valued at approximately $6.8 billion across the healthcare sector.

Positive

• Re-election of trustees indicates strong shareholder support.
• High percentage approvals for executive compensation and auditor ratification (90.3% and 99.4% respectively).
• DHC's substantial portfolio valued at $6.8 billion, showcasing strong asset base.

Negative

• Lower support for Adam D. Portnoy (67.3%) may raise concerns among investors.

NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) announced the results of its 2022 Annual Meeting of Shareholders which was held today. The results of the Annual Meeting of Shareholders were as follows.

Lisa Harris Jones was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Independent Trustee is as follows:

Independent Trustee	Percentage of Shares Voted For
Lisa Harris Jones	80.0%

John L. Harrington was re-elected as an Independent Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Independent Trustee is as follows:

Independent Trustee	Percentage of Shares Voted For
John L. Harrington	72.3%

Jennifer F. Francis was re-elected as a Managing Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Managing Trustee is as follows:

Managing Trustee	Percentage of Shares Voted For
Jennifer F. Francis	97.7%

Adam D. Portnoy was re-elected as a Managing Trustee. The final tabulation of the percentage of shareholders’ votes cast for this Managing Trustee is as follows:

Managing Trustee	Percentage of Shares Voted For
Adam D. Portnoy	67.3%

Shareholders voted to approve executive compensation by means of an advisory vote:

Proposal	Percentage of Shares Voted For
Approval of executive compensation	90.3%

Shareholders approved the Diversified Healthcare Trust Amended and Restated 2012 Equity Compensation Pan:

Proposal	Percentage of Shares Voted For
Approval of executive compensation	97.1%

Shareholders ratified the appointment of Deloitte & Touche LLP as Diversified Healthcare Trust’s independent auditors to serve for the 2022 fiscal year:

Proposal	Percentage of Shares Voted For
Ratification of Independent Auditors	99.4%

About Diversified Healthcare Trust

Diversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust (REIT) that owns approximately $6.8 billion of high-quality healthcare properties located in 36 states and Washington, D.C. DHC seeks diversification across the health services spectrum: by care delivery and practice type, by scientific research disciplines and by property type and location. DHC’s life science and medical office portfolio includes over 100 properties totaling approximately nine million square feet and is occupied by almost 500 tenants. DHC’s senior living portfolio contains over 27,500 senior living units. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with more than $37 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. To learn more about DHC, visit www.dhcreit.com.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220602005934/en/

Michael Kodesch, Director, Investor Relations

(617) 796-8234

www.dhcreit.com

Source: Diversified Healthcare Trust

FAQ

What were the key outcomes of the Diversified Healthcare Trust 2022 Annual Meeting?

The key outcomes included the re-election of trustees Lisa Harris Jones (80.0%), John L. Harrington (72.3%), Jennifer F. Francis (97.7%), and Adam D. Portnoy (67.3%), along with approval of executive compensation (90.3%) and auditor appointment (99.4%).

What is the significance of the executive compensation approval for Diversified Healthcare Trust?

The executive compensation approval, receiving 90.3% support, signals shareholder confidence in the management team's performance and aligns interests between executives and shareholders.

How much is Diversified Healthcare Trust's portfolio valued at?

Diversified Healthcare Trust's portfolio is valued at approximately $6.8 billion, encompassing high-quality healthcare properties across 36 states and Washington, D.C.

Which firms are involved in managing Diversified Healthcare Trust?

Diversified Healthcare Trust is managed by The RMR Group, a leading U.S. alternative asset management company.