SEC Form 4

FORM 4
[  ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b). UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person^* Simpson, Wendy (Last)                      (First)                      (Middle) 300 Esplanade Drive Suite 1860 (Street) Oxnard,    CA   93036 (City)                      (State)                      (Zip)
2. Issuer Name
and Ticker or Trading Symbol
LTC Properties, Inc.
LTC 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary) 4. Statement for
    (Month/Day/Year
02/19/2003
5. If Amendment,
    Date of Original
    (Month/Day/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
X Director      10% Owner X Officer (give title below)        Other (specify below)
Description           Vice Chairman and Chief Financial Officer 7. Individual or Joint/Group
    Filing (Check Applicable Line)
X   Form filed by One Reporting Person      Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security     (Instr. 3)	2.Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction     Code     (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D)     (Instr. 3, 4, and 5)			5. Amount of     Securities     Beneficially     Owned Following     Reported Transaction(s)     (Instr. 3 and 4)	6. Owner-     ship     Form:     Direct (D)     or     Indirect (I)     (Instr. 4)	7. Nature of      Indirect      Beneficial      Ownership     (Instr. 4)
			Code	V	Amount	A/D	Price
Preferred A								16,215	D
Preferred A								7,250	I	Held by spouse
Preferred B								2,500	D
Preferred B								1,800	I	Held by spouse
Common Stock								18,825	I	Company contribution and reinvestment of dividend on shares held in deferred compensation trust. Individuals do not have the right to vote such shares.
Common Stock								5,315	I	Held by spouse
Common Stock	02/19/2003	02/19/2003	F		34,000	A	$5.313		D
Common Stock	02/19/2003	02/19/2003	F		6,000	A	$5.375	153,030	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security     (Instr. 3)

2. Conver-     sion or     Exercise     Price of     Deri-     vative     Security

3. Transaction Date (Month/ Day/ Year)

3A. Deemed Execution Date, if any (Month/ Day/ Year)

4. Transaction Code     (Instr.8)

5. Number of Derivative     Securities Acquired (A)     or Disposed Of (D)     (Instr. 3, 4 and 5)

6. Date Exercisable(DE) and     Expiration Date(ED)     (Month/Day/Year)

7. Title and Amount of     Underlying Securities     (Instr. 3 and 4)

8. Price     of     Derivative     Security     (Instr.5)

9. Number of     Derivative     Securities     Beneficially     Owned     Following     Reported     Transaction(s)     (Instr.4)

10. Owner- ship Form of Deriv- ative Securities: Direct (D) or Indirect (I) (Instr.4)

11. Nature of       Indirect       Beneficial       Ownership       (Instr.4)

Code

V

A

D

DE

ED

Title

Amount or Number of Shares

Stock Options

$5.375

03/31/2000

03/31/2003

03/31/2010

Common Stock

3,000

D

Stock Options

$5.375

03/31/2000

03/31/2004

03/31/2011

Common Stock

3,000

D

Stock Options

$5.375

03/31/2000

03/31/2005

03/31/2012

Common Stock

3,000

D

Stock Options

$5.313

04/10/2000

04/10/2003

04/10/2010

Common Stock

17,000

D

Stock Options

$5.313

04/10/2000

04/10/2004

04/10/2011

Common Stock

17,000

D

Stock Options

$5.313

04/10/2000

04/10/2005

04/10/2012

Common Stock

17,000

D

Stock Options

$7.63

04/04/2002

04/04/2003

04/04/2010

Common Stock

4,000

D

Stock Options

$7.63

04/04/2002

04/04/2004

04/04/2011

Common Stock

4,000

D

Stock Options

$7.63

04/04/2002

04/04/2005

04/04/2012

Common Stock

4,000

D

Stock Options

$7.63

04/04/2002

04/04/2006

04/04/2013

Common Stock

4,000

D

Stock Options

$7.63

04/04/2002

04/04/2007

04/04/2014

Common Stock

4,000

80,000

D

Explanation of Responses:

By:	Date:
/s/ Wendy Simpson	02/19/2003
Vice Chairman and Chief Financial Officer
** Signature of Reporting Person	SEC 1474 (9-02)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. * If the form is filed by more than one reporting person, see Instruction 4(b)(v). ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

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