X0304 4 2012-01-27 0000740260 VENTAS INC VTR 0001215188 CAFARO DEBRA A 353 N. CLARK STREET, SUITE 3300 CHICAGO, IL 60654 1 1 0 0 Chairman and CEO Common Stock 2012-01-27 5 G 0 8400 0 D 758852 D Common Stock 2012-01-27 5 G 0 8400 0 A 13400 I By Trust Common Stock 2012-01-27 4 S 0 8400 58.8428 D 5000 I By Trust Represents a bona fide gift from the Reporting Person to the Cafaro-Livingston Charitable Trust, a private charitable foundation (the "Trust"). Reporting Person is a co-trustee of the Trust and may be deemed to have shared voting and dispositive power over shares held by the Trust. Reporting Person disclaims beneficial ownership of these 8,400 shares because the Reporting Person has no pecuniary interest in the shares. On January 27, 2012, the Trust transmitted to the Securities and Exchange Commission (the "SEC") a Form 144 covering the sale of the Issuer's common stock reported on Table I. The price reported in column 4 is a weighted average price. These shares were sold by the Trust in multiple transactions, at prices ranging from $58.80 to $58.87, inclusive. Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the SEC, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote (2). Reflects shares held by the Cafaro Family Trust, of which Reporting Person's spouse is the trustee. Reporting Person disclaims beneficial ownership of these 5,000 shares except to the extent of the Reporting Person's pecuniary interest in the shares. As of January 27, 2012, Reporting Person also owns directly and indirectly by trust options to purchase 1,186,923 shares of Issuer's common stock. Debra A. Cafaro, By: T. Richard Riney, Attorney-In-Fact 2012-01-31