On September 2, 2026, American Healthcare REIT, Inc. announced the appointment of Aric Chang as Chief Financial Officer, effective October 1, 2026. He succeeds Brian S. Peay, who is retiring from the role effective September 30, 2026. Mr. Peay will continue to support the transition by serving as a non-employee consultant from his retirement date through April 15, 2027.
Mr. Chang, age 47, joins the company from Public Storage (NYSE: PSA), an S&P 500 real estate company, where he has served as Chief Financial Officer, Real Estate since May 2023. In that role, he led teams spanning real estate and corporate finance, financial planning and analysis, investment underwriting, and real estate data analytics. During his tenure at Public Storage, he oversaw approximately $16 billion of capital deployment across acquisitions, development, lending, and mergers and acquisitions.
Before Public Storage, Mr. Chang held senior finance positions at several publicly traded REITs, including Rexford Industrial Realty, Inc., where he served as Senior Vice President, Investor Relations and Capital Markets from August 2022 to April 2023. He also served as Executive Director, Research & Strategy at J.P. Morgan Asset Management from 2015 to 2022, leading a real estate investment platform managing over $80 billion of assets. Earlier in his career, he held senior REIT research roles at Green Street Advisors and Oak Hill REIT Management.
In connection with his appointment, Mr. Chang entered into an employment letter with the company on September 2, 2026. The agreement includes an annual base salary of $500,000 and a target annual bonus opportunity equal to 100% of his base salary, pro-rated for 2026. Beginning in 2027, he is eligible for an annual long-term incentive award with a target grant date fair value of $1,000,000, delivered 50% in restricted stock units and 50% in performance-based restricted stock units. Additionally, he will receive a cash payment of $310,000 as an inducement to join the company, payable within 30 days of his start date.
Mr. Peay’s departure is not the result of any disagreement with the company regarding its operations, policies, or practices. In connection with his transition, Mr. Peay will receive a consulting payment equal to his base salary through the remainder of 2026, a payout under the 2026 short-term incentive program equal to 150% of his 2026 base salary, accelerated vesting of 18,159 shares of restricted stock granted on February 9, 2024, and a $45,000 payment for health continuation premium reimbursements.
