X0304 4 2012-01-01 0000740260 VENTAS INC VTR 0001213928 GELLERT JAY M 21650 OXNARD ST., 22ND FLOOR WOODLAND HILLS, CA 91367 1 0 0 0 Common Stock 2012-01-01 4 A 0 453.474 55.13 A 58699.596 D Common Stock 2012-01-01 4 A 0 1028 0 A 60084.186 D Stock Option (Right to Buy) 55.13 2012-01-01 4 A 0 5000 0 A 2012-01-01 2022-01-01 Common Stock 5000 50000 D Common stock in the form of Units granted under the Ventas Nonemployee Director Deferred Stock Compensation Plan (the "Plan") in lieu of Director fees pursuant to the Director's deferral election. Such Units are payable solely in common stock and subject to the terms and conditions of the Director's deferral election and the Plan. Restricted Stock Units granted by Issuer pursuant to the Ventas, Inc. 2006 Stock Plan for Directors (the "Stock Plan"). Such Units are payable solely in common stock and subject to the terms and conditions of the Director's deferral election and the Stock Plan. These Restricted Stock Units vest in two equal annual installments beginning on the first anniversary of the date of grant. Includes 150.328 Units acquired on December 30, 2011 under the Plan as a result of dividend equivalents credited with respect to the dividend on Issuer's common stock paid on December 30, 2011. Includes 206.262 shares acquired on December 30, 2011 under the Ventas, Inc. Distribution Reinvestment and Stock Purchase Plan. Stock options granted by Issuer pursuant to the Stock Plan. These options vest in two equal annual installments beginning on the date of grant. Represents total number of unexercised stock options held by the Reporting Person as of January 1, 2012. Jay M. Gellert, By: T. Richard Riney, Attorney-In-Fact 2012-01-04