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Pay vs Performance Disclosure

12 Months Ended

Dec. 31, 2023

USD ($)

$ / shares

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

USD ($)

$ / shares

Dec. 31, 2020

USD ($)

$ / shares

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

Pay vs. Performance Table

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 402(v) of Regulation S-K, we are providing the following information about “Compensation Actually Paid,” as defined by the SEC and in Footnote 2 below, and certain financial performance of the Company.


							Average Summary Compensation Table Total for Other NEOs(1)			Average Compensation Actually Paid to Other NEOs(2)			Value of Initial Fixed $100 Investment Based On:
Year	Summary Compensation Table Total for CEO(1)			Compensation Actually Paid to CEO(2)									Total Shareholder Return (TSR)			FTSE Nareit Equity Health Care Index TSR(3)			GAAP Net Income (Loss) (in 000s)			Normalized FFO/ Share(4)
2023		$	13,520,625		$	10,139,836		$	4,107,540		$	3,806,036		$	102.39		$	92.96		$	(40,973)		$	2.99
2022		14,059,092			17,813,641			4,224,753			4,826,766			88.97			81.59			(47,447)			2.99
2021		14,263,728			9,914,452			6,012,810			5,967,437			97.29			104.85			49,008			2.90
2020		12,628,714			9,443,112			5,404,681			4,924,463			90.29			90.14			439,149			3.32

Company Selected Measure Name

Normalized FFO/Share

Named Executive Officers, Footnote

The Named Executive Officers in the fiscal years identified above were:


Year	CEO	Other NEOs
2023	Debra A. Cafaro	Peter J. Bulgarelli, J. Justin Hutchens, Carey S. Roberts and Robert F. Probst
2022	Debra A. Cafaro	Peter J. Bulgarelli, John D. Cobb, J. Justin Hutchens and Robert F. Probst
2021	Debra A. Cafaro	Peter J. Bulgarelli, John D. Cobb, J. Justin Hutchens and Robert F. Probst
2020	Debra A. Cafaro	John D. Cobb, J. Justin Hutchens, Robert F. Probst and Carey S. Roberts

Peer Group Issuers, Footnote

Total Shareholder Return and FTSE Nareit Equity Health Care Index Total Shareholder Return reflect the return a stockholder would have recognized at the end of each of the fiscal years shown had they invested $100 in the Company or the FTSE Nareit Equity Health Care Index, respectively, on January 1, 2000. We have chosen to include the FTSE Nareit Equity Health Care Index TSR as our peer group TSR in this table as this is one of the primary measures of performance used in our long-term incentive plan.

PEO Total Compensation Amount

$ 13,520,625

$ 14,059,092

$ 14,263,728

$ 12,628,714

PEO Actually Paid Compensation Amount

$ 10,139,836

17,813,641

9,914,452

9,443,112

Adjustment To PEO Compensation, Footnote

“Compensation Actually Paid” is defined by the SEC as the total compensation reported in the Summary Compensation Table for the applicable fiscal year adjusted as follows:


	2020		2021		2022		2023
Adjustments	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY	(9,509,954)	(3,720,262)	(11,013,974)	(4,380,687)	(9,666,901)	(2,437,396)	(9,598,375)	(2,393,832)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End	9,307,263	3,602,556	10,897,323	4,375,204	9,370,105	2,300,701	7,859,925	2,004,184
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date	—	—	—	—	—	—	—	—
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End	(1,207,093)	(199,761)	(2,221,470)	(19,974)	478,362	(108,888)	(3,129,391)	(380,161)


	2020		2021		2022		2023
Adjustments	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date	(1,182,102)	(154,234)	121,077	182,836	3,244,357	671,289	327,101	177,586
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End	(1,094,539)	(166,103)	(2,323,203)	(334,555)	(503,173)	(94,075)	—	—
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date	500,822	157,586	190,971	131,803	831,798	270,382	1,159,951	290,720
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY	—	—	—	—	—	—	—	—
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable	—	—	—	—	—	—	—	—
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans	—	—	—		—	—	—	—
TOTAL ADJUSTMENTS	(3,185,602)	(480,218)	(4,349,276)	(45,373)	3,754,549	602,013	(3,380,789)	(301,504)

Non-PEO NEO Average Total Compensation Amount

$ 4,107,540

4,224,753

6,012,810

5,404,681

Non-PEO NEO Average Compensation Actually Paid Amount

$ 3,806,036

4,826,766

5,967,437

4,924,463

Adjustment to Non-PEO NEO Compensation Footnote

“Compensation Actually Paid” is defined by the SEC as the total compensation reported in the Summary Compensation Table for the applicable fiscal year adjusted as follows:


	2020		2021		2022		2023
Adjustments	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY	(9,509,954)	(3,720,262)	(11,013,974)	(4,380,687)	(9,666,901)	(2,437,396)	(9,598,375)	(2,393,832)
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End	9,307,263	3,602,556	10,897,323	4,375,204	9,370,105	2,300,701	7,859,925	2,004,184
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date	—	—	—	—	—	—	—	—
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End	(1,207,093)	(199,761)	(2,221,470)	(19,974)	478,362	(108,888)	(3,129,391)	(380,161)


	2020		2021		2022		2023
Adjustments	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs	CEO	Average Other NEOs
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date	(1,182,102)	(154,234)	121,077	182,836	3,244,357	671,289	327,101	177,586
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End	(1,094,539)	(166,103)	(2,323,203)	(334,555)	(503,173)	(94,075)	—	—
Increase based on Dividends or Other Earnings Paid during Applicable FY prior to Vesting Date	500,822	157,586	190,971	131,803	831,798	270,382	1,159,951	290,720
Increase based on Incremental Fair Value of Options/SARs Modified during Applicable FY	—	—	—	—	—	—	—	—
Deduction for Change in the Actuarial Present Values reported under the “Change in Pension Value and Nonqualified Deferred Compensation Earnings” Column of the Summary Compensation Table for Applicable	—	—	—	—	—	—	—	—
Increase for Service Cost and, if applicable, Prior Service Cost for Pension Plans	—	—	—		—	—	—	—
TOTAL ADJUSTMENTS	(3,185,602)	(480,218)	(4,349,276)	(45,373)	3,754,549	602,013	(3,380,789)	(301,504)

Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid Versus Cumulative TSR


			CEO Compensation Actually Paid ($)						Other NEO Average Compensation Actually Paid ($)
			Ventas Total Shareholder Return ($)						FTSE NAREIT Equity Health Care Index TSR ($)

Compensation Actually Paid vs. Net Income

Compensation Actually Paid Versus Net Income (Loss) (in $000s)


			CEO Compensation Actually Paid ($)						Other NEO Average Compensation Actually Paid ($)
			Net Income (in $000s)

Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid Versus Normalized Funds from Operations per Share ($)


			CEO Compensation Actually Paid ($)						Other NEO Average Compensation Actually Paid ($)
			Normalized Funds from Operations per Share ($)

Total Shareholder Return Vs Peer Group

Compensation Actually Paid Versus Cumulative TSR


			CEO Compensation Actually Paid ($)						Other NEO Average Compensation Actually Paid ($)
			Ventas Total Shareholder Return ($)						FTSE NAREIT Equity Health Care Index TSR ($)

Tabular List, Table


Financial Performance Measures Linked to the Compensation of Named Executive Officers
Normalized FFO per Share
Fixed Charge Coverage
TSR Relative to the FTSE Nareit Equity Health Care Index
TSR Relative to the MSCI U.S. REIT Index
Net Debt to Further Adjusted EBITDA

Total Shareholder Return Amount

$ 102.39

88.97

97.29

90.29

Peer Group Total Shareholder Return Amount

92.96

81.59

104.85

90.14

Net Income (Loss)

$ (40,973,000)

$ (47,447,000)

$ 49,008,000

$ 439,149,000

Company Selected Measure Amount | $ / shares

2.99

2.90

3.32

PEO Name

Debra A. Cafaro

Measure:: 1

Pay vs Performance Disclosure

Name

Normalized FFO per Share

Non-GAAP Measure Description

Normalized FFO/Share is one of the primary measures used in our Annual Incentive Plan. Historical cost accounting for real estate assets implicitly assumes that the value of real estate assets diminishes predictably over time. However, because real estate values historically have risen or fallen with market conditions, many industry investors deem presentations of operating results for real estate companies that use historical cost accounting to be insufficient by themselves. For that reason, we consider Funds From Operations attributable to common stockholders (“FFO”) and Normalized FFO to be appropriate supplemental measures of operating performance of an equity REIT. For information regarding the calculation of Normalized FFO, please see Appendix A. To calculate Normalized FFO on per share basis, Normalized FFO is divided by weighted average diluted shares as set forth in Note 15 of our 2023 Form 10-K.

Measure:: 2

Pay vs Performance Disclosure

Name

Fixed Charge Coverage

Measure:: 3

Pay vs Performance Disclosure

Name

TSR Relative to the FTSE Nareit Equity Health Care Index

Measure:: 4

Pay vs Performance Disclosure

Name

TSR Relative to the MSCI U.S. REIT Index