NATIONAL HEALTHCARE CORP

Overview

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• TickerNHC on NYSE¹
• IndustryServices-Skilled Nursing Care Facilities¹
• HeadquartersMurfreesboro, Tennessee¹
• Incorporated inDE³
• Business address100 E. Vine St, Murfreesboro, Tn 37130³
• Filer categoryLarge accelerated filer³

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National HealthCare Corporation, which we also refer to as NHC or the Company, began business in 1971. Our principal business is the operation of skilled nursing facilities, assisted living facilities, independent living facilities, homecare and hospice agencies, and behavioral health hospitals. Our business activities include providing sub–acute and post–acute skilled nursing care, intermediate nursing care, rehabilitative care, memory and Alzheimer’s care, senior living services, home health care services, hospice services, and behavioral health services. In addition, we provide management services, accounting and financial services, as well as insurance services to third party operators of health care facilities. We also own the real estate of 10 healthcare properties and lease these properties to third party operators. We operate in 9 states and our operations are primarily located i…⁵ From its latest annual report

Corporate structure

NATIONAL HEALTHCARE CORP sits at the top of its group. 140 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What NATIONAL HEALTHCARE CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

Investments

Intangibles and goodwill

Inventory

Properties, in its own words

State · City · Center Name · Affiliation · Licensed Beds

Alabama · Anniston · NHC HealthCare, Anniston · Leased(1) · 151

Item 2 of the 10-K filed Feb 26, 2026.⁵

Leadership

Who has led NATIONAL HEALTHCARE CORP, and when. Pick a name to see everywhere that person has worked.

• Chief executive officerStephen Fowler Flatt Feb 10, 2017 to now¹⁵
• Chief executive officerRobert G. Adams Feb 14, 2006 to Feb 24, 2016¹⁶
• PresidentRobert Michael Ussery Feb 10, 2017 to now¹⁷
• PresidentStephen Fowler Flatt Jan 21, 2009 to Feb 10, 2017¹⁸
• PresidentRobert G. Adams Feb 14, 2006 to Nov 24, 2008¹⁶
• Chief financial officerBrian F. Kidd Feb 10, 2025 to now¹⁹
• Chief operating officerRobert Michael Ussery Jan 21, 2009 to now²⁰

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

• AdamsPlace, LLC Tennessee⁴
• Buckley HealthCare Center, LLC Massachusetts⁴
• Caris HealthCare, L.P. Tennessee⁴
• City Center, L.P. Tennessee⁴
• City Corporation Tennessee⁴
• Georgia HealthCare Advisors, LLC Georgia⁴
• HealthCare Transition Center, LLC Tennessee⁴
• Heartland HealthCare Center, LLC New Hampshire⁴
• Holyoke HealthCare Center, LLC Massachusetts⁴
• Hudson HealthCare Advisors, LLC Florida⁴
• John Adams HealthCare Center, LLC Massachusetts⁴
• Knoxville Center for Behavioral Medicine, LLC Delaware⁴
• Knoxville Health Care Center, L.P. Tennessee⁴
• Maryland Heights Center for Behavioral Health, LLC Missouri⁴
• Maryland Heights Properties, LLC Delaware⁴
• Medical Personnel Services, LLC Tennessee⁴
• Middlebrook Property Partners, LLC Delaware⁴
• Missouri HealthCare Advisors, LLC Missouri⁴
• NHC Advantage, LLC Missouri⁴
• NHC Cool Springs Properties, LLC Tennessee⁴
• NHC Delaware Investments Inc. Delaware⁴
• NHC Estates, LLC South Carolina⁴
• NHC Farragut Memory Care, LLC Tennessee⁴
• NHC HealthCare-Charleston, LLC South Carolina⁴

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

1. Aug 11, 20268-K Results of operations⁴⁸
2. Aug 11, 20268-K Other events⁴⁹
3. Jul 1, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale⁵⁰
4. May 27, 20268-K Entered a material agreement; Ended a material agreement; New debt or obligation⁵¹
5. May 15, 20268-K Entered a material agreement⁵²
6. May 13, 20268-K Shareholder vote⁵³
7. May 8, 20268-K Results of operations⁵⁴
8. May 7, 20268-K Other events⁵⁵
9. Apr 22, 20268-K Entered a material agreement; Ended a material agreement; Regulation FD disclosure⁵⁶
10. Feb 27, 20268-K Results of operations⁵⁷
11. Feb 17, 20268-K Executive or director change; Regulation FD disclosure⁵⁸
12. Feb 13, 20268-K Other events⁵⁹
13. Feb 10, 2017New chief executive Stephen Fowler Flatt becomes CEO¹⁵
14. Feb 14, 2006New chief executive Robert G. Adams becomes CEO¹⁶

Calendar

Coming up

1. Nov 6, 2026Reports results for the quarter ending Sep/2026⁶⁰

When it reported results

1. Aug 11, 2026Reported quarterly or annual results⁴⁸
2. May 8, 2026Reported quarterly or annual results⁵⁴
3. Feb 27, 2026Reported quarterly or annual results⁵⁷
4. Nov 7, 2025Reported quarterly or annual results⁶¹
5. Aug 8, 2025Reported quarterly or annual results⁶²
6. May 9, 2025Reported quarterly or annual results⁶³
7. Feb 27, 2025Reported quarterly or annual results⁶⁴
8. Nov 12, 2024Reported quarterly or annual results⁶⁵

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

399 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 62 major events, 284 insider forms, 18 large holders, 14 other. The latest 20:

1. Sep 23, 20264 EDGAR
2. Sep 14, 20264 EDGAR
3. Sep 14, 20264 EDGAR
4. Sep 10, 2026144 EDGAR
5. Sep 2, 20264 EDGAR
6. Aug 28, 20264 EDGAR
7. Aug 21, 20264 EDGAR
8. Aug 20, 20264 EDGAR
9. Aug 17, 20264 EDGAR
10. Aug 11, 20268-K EDGAR
11. Aug 11, 20268-K EDGAR
12. Aug 6, 202610-Q EDGAR
13. Jul 27, 2026SCHEDULE 13G EDGAR
14. Jul 1, 20268-K EDGAR
15. Jun 23, 20264 EDGAR
16. Jun 18, 20264 EDGAR
17. Jun 18, 20264 EDGAR
18. Jun 10, 20264 EDGAR
19. Jun 2, 20264 EDGAR
20. May 27, 20268-K EDGAR

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

41 open-market trades by officers, directors and large owners since October 2021: 7 buys and 34 sales. Grants, option exercises and gifts are left out.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

• FIRST TRUST PORTFOLIOS LPSCHEDULE 13G, 1 filing Jul 27, 2026⁶⁶
• VANGUARD PORTFOLIO MANAGEMENT LLCSCHEDULE 13G, 1 filing Apr 29, 2026⁶⁷
• VANGUARD GROUP INCSCHEDULE 13G/A, 6 filings Feb 10, 2022 to Mar 27, 2026⁶⁸
• Morgan StanleySCHEDULE 13G/A, 2 filings Nov 8, 2024 to Mar 12, 2026⁶⁹
• BlackRockSCHEDULE 13G/A, 3 filings Oct 23, 2024 to Oct 17, 2025⁷⁰
• DIMENSIONAL FUND ADVISORS LPSC 13G/A, 2 filings Feb 10, 2023 to Feb 9, 2024⁷¹

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How NATIONAL HEALTHCARE CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

• Name on EDGARNATIONAL HEALTHCARE CORP¹
• CIK0001047335
• Employer ID (EIN)52-2057472⁵
• Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company⁵
• Incorporated inDelaware⁵
• Fiscal year endsDecember 31¹
• Industry code (SIC)8051 Services-Skilled Nursing Care Facilities¹
• SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance¹
• Business address100 E. Vine St, Murfreesboro, TN 37130¹
• Phone6158902020¹
• Shares outstanding15,661,395 as of Aug 3, 2026¹²
• Public float$900.6M as of Jun 30, 2025⁵
• AuditorDeloitte & Touche LLP, Nashville, Tennessee PCAOB ID 42; it also attests to the company’s internal control over financial reporting⁵
• On EDGAR sinceOct 3, 1997¹
• Filings1,746 in all: 4 (949), 8-K (255), 5 (155), 10-Q (86), SC 13G/A (46), DEF 14A (26), 3 (25), 10-K (24)¹
  All 42 form types

  UPLOAD (22), CORRESP (21), 4/A (20), SC 13G (16), ARS (14), SC 13D/A (10), S-4/A (8), 5/A (6), S-8 (6), 10-K405 (5), 144 (5), SC 13E3/A (5), 10-K/A (4), 8-K/A (4), SC 13D (4), SCHEDULE 13G/A (4), DEFA14A (3), 10-Q/A (2), 425 (2), 8-A12B (2), PRE 14A (2), S-4 (2), SCHEDULE 13G (2), 10-12B (1), 10-12B/A (1), 25-NSE (1), CERTAMX (1), DEF 14C (1), EFFECT (1), NT 10-Q (1), PX14A6G (1), S-3 (1), S-3/A (1), SC 13E3 (1)

• Latest filingsAnnual report (10-K) Feb 26, 2026
  Quarterly report (10-Q) Aug 6, 2026
  Proxy statement (DEF 14A) Apr 2, 2026
  Latest 8-K (8-K) Aug 11, 2026

Securities registered for trading

From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).⁵

Risk factors and legal proceedings

The risks NATIONAL HEALTHCARE CORP names in Item 1A of its 10-K filed Feb 26, 2026: 13 risks under these headings, as written.⁵

• Risks Relating to Our Operations
• By undertaking to provide management services, advisory services, and/or financial services to other entities, we become at least partially responsible for meeting the regulatory requirements of those entities.
• Disasters and similar events, which may increase as a result of climate change, may seriously harm our business.
• Future acquisitions or new developments may be difficult to complete, use significant resources, or be unsuccessful and could expose us to unforeseen liabilities.
• Upkeep of healthcare properties is capital intensive, requiring us to continually direct financial resources to the maintenance and enhancement of our physical plant and equipment.
• If we fail to compete effectively with other health care providers, our revenues and profitability may decline.
• Possible changes in the case mix of patients and payor mix may significantly affect our profitability.
• Risks Related to Government Regulation
• We conduct business in a heavily regulated industry, and changes in, or violations of regulations may result in increased costs or sanctions that reduce our revenue and profitability.
• We are subject to federal and state income taxes.
• Risks Related to Our Structure and Public Company Compliance
• Increasing costs of being publicly owned are likely to impact our future consolidated financial position and results of operations.

Legal proceedings

General and Professional Liability Insurance and Lawsuits

The senior care industry has experienced increases in both the number of personal injury/wrongful death claims and in the severity of awards based upon alleged negligence by nursing facilities and their employees in providing care to residents. The Company has been, and continues to be, subject to claims and legal actions that arise in the ordinary course of business, including potential claims related to patient care and treatment. The defense of these lawsuits may result in significant legal costs, regardless of the outcome, and can result in large settlement amounts or damage awards.

As a result of the terms of our insurance policies and our use of a wholly-owned insurance company, we have retained significant self–insured risk with respect to general and professional liability. Additional insurance is purchased through third party providers that serve to supplement the coverage provided through our wholly-owned captive insurance company. We use independent actuaries to assist management in estimating our exposures for claims obligations (for both asserted and unasserted claims) related to exposures in excess of coverage limits, and we maintain reserves for these obligations. It is possible that claims against us could exceed our coverage limits and our reserves, which would have a material adverse effect on our financial position, results of operations and cash flows.

General Litigation

The opening of Item 3, Legal Proceedings.⁵