<SEC-DOCUMENT>0001104659-16-156556.txt : 20161114
<SEC-HEADER>0001104659-16-156556.hdr.sgml : 20161111
<ACCEPTANCE-DATETIME>20161114083726
ACCESSION NUMBER:		0001104659-16-156556
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20161114
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20161114
DATE AS OF CHANGE:		20161114

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			HCP, INC.
		CENTRAL INDEX KEY:			0000765880
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				330091377
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-08895
		FILM NUMBER:		161990840

	BUSINESS ADDRESS:	
		STREET 1:		1920 MAIN STREET
		STREET 2:		SUITE 1200
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614
		BUSINESS PHONE:		949-407-0700

	MAIL ADDRESS:	
		STREET 1:		1920 MAIN STREET
		STREET 2:		SUITE 1200
		CITY:			IRVINE
		STATE:			CA
		ZIP:			92614

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	HEALTH CARE PROPERTY INVESTORS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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<TYPE>8-K
<SEQUENCE>1
<FILENAME>a16-21574_18k.htm
<DESCRIPTION>8-K
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Washington, D.C. 20549</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 or 15(d)&nbsp;of the Securities Exchange Act of 1934</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">November&nbsp;14, 2016 (November&nbsp;14, 2016)</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:7.5pt;font-weight:bold;">Date of Report (Date of earliest event reported)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:20.0pt;font-weight:bold;">HCP,&nbsp;Inc.</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-08895</font></b></p>    </td>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">33-0091377</font></b></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1920 Main Street, Suite&nbsp;1200</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Irvine, CA 92614</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:7.5pt;font-weight:bold;">(Address of principal executive offices) (Zip Code)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(949) 407-0700</font></b></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:7.5pt;font-weight:bold;">(Registrant&#146;s telephone number, including area code)</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Written communications pursuant to Rule&nbsp;425 under the Securities Act (17 CFR 230.425) </p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Soliciting material pursuant to Rule&nbsp;14a-12 under the Exchange Act (17 CFR 240.14a-12) </p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR 240.14d-2(b)) </p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR 240.13e-4(c)) </p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:11.0pt;">&nbsp;</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 7.01</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b>Regulation FD Disclosure.</b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman"><font style="font-size:10.0pt;">On November&nbsp;14, 2016, the Company issued a press release announcing </font><font color="black" style="color:black;">the intention to elect Mr.&nbsp;Herzog as Chief Executive Officer and appoint him to the Board, and elect Mr.&nbsp;Hutchens as President, each on January&nbsp;1, 2017.</font></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy of the press release is attached hereto as Exhibit&nbsp;99.1 and is incorporated into this Item 7.01 by reference.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The information set forth in this Item 7.01 and the related information in Exhibit&nbsp;99.1 attached hereto are being furnished to, and shall not be deemed filed for purposes of Section&nbsp;18 of the Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), or otherwise subject to the liabilities of that section and shall not be incorporated by reference in any filing with, the SEC under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference therein.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 8.01</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b>Other Information.</b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Herzog, 54, has served as Executive Vice President and Chief Financial Officer of the Company since June&nbsp;2016.&#160; From January 2013 until joining HCP in June&nbsp;2016, he was Senior Vice President - Chief Financial Officer of UDR,&nbsp;Inc. (NYSE: UDR), a leading multifamily REIT.&#160; Mr.&nbsp;Herzog served as Chief Financial Officer of Amstar, a Denver-based real estate investment company, from August&nbsp;2011 to January&nbsp;2013.&#160; He previously served as Executive Vice President and Chief Financial Officer of HCP from April 2009 to May&nbsp;2011.&#160; Mr.&nbsp;Herzog was Senior Vice President and Chief Accounting Officer at Apartment Investment and Management Company (NYSE: AIV), a leading multifamily REIT, from 2004 to 2005 and Executive Vice President and Chief Financial Officer from 2005 to 2009.&#160; From 2000 to 2004, he served in the roles of Chief Accounting Officer&nbsp;&amp; Global Controller and Finance Technical Advisor for GE Real Estate.&#160; Prior to joining GE Real Estate, Mr.&nbsp;Herzog began his career in public accounting with Deloitte &amp; Touche LLP, serving in the audit department for ten years, including a two-year national office assignment in the real estate group.&#160; He currently serves on the Board of Directors for Tier REIT (NYSE: TIER), an office property REIT.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">There are no family relationships involving Mr.&nbsp;Herzog that would require disclosure under Item 401(d)&nbsp;of Regulation S-K.&#160; There are no current or proposed transactions in which he or any member of his immediate family has, or will have, a direct or indirect material interest that would require disclosure under Item 404(a)&nbsp;of Regulation S-K.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Hutchens, 42, has served as Executive Vice President and Chief Investment Officer of the Company since May 2016, and previously served as Executive Vice President and Chief Investment Officer - Senior Housing and Care when he joined the Company in September&nbsp;2015.&#160; Prior to joining HCP, Mr.&nbsp;Hutchens was President and Chief Executive Officer of National Health Investors, Inc. (NYSE: NHI), a healthcare REIT, since March&nbsp;2011 and President and Chief Operating Officer (&#147;COO&#148;) from February 2009 to March&nbsp;2011.&#160; He served on NHI&#146;s Board of Directors from 2010 to 2015.&#160; Mr.&nbsp;Hutchens has national operating experience as the Senior Vice President and COO of Summerville Senior Living from 2003 to 2007 and upon its merger with Emeritus Corporation, the Executive Vice President and COO of Emeritus Senior Living Corporation (NYSE: ESC) from 2007 to 2009.&#160; From 1997 to 2003, he held multi-site management roles overseeing marketing and operations in the senior housing and post-acute industries.&#160; Mr.&nbsp;Hutchens currently serves on the Board of Directors for the National Investment Center for Seniors Housing and Care.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in .05in .0001pt 0in;text-indent:.5in;"><font size="2" color="black" face="Times New Roman" style="color:black;font-size:10.0pt;">There are no family relationships involving Mr.&nbsp;Hutchens that would require disclosure under Item 401(d)&nbsp;of Regulation S-K.&#160; There are no current or proposed transactions in which he or any member of his immediate family has, or will have, a direct or indirect material interest that would require disclosure under Item 404(a)&nbsp;of Regulation S-K.</font></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01</font></b><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b>Financial Statements and Exhibits.</b></p>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:3.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><u>Exhibits</u>.</p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Description</font></b></p>    </td>   </tr>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated November&nbsp;14, 2016.</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
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<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></p>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date:   November&nbsp;14, 2016</font></p>    </td>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><i><font size="2" face="Times New Roman" style="font-size:1.0pt;font-style:italic;">&nbsp;</font></i></p>    </td>
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<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">HCP,&nbsp;Inc.<br>    </font></b><i>(Registrant)</i></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><i><font size="2" face="Times New Roman" style="font-size:10.0pt;font-style:italic;">/s/ Troy E. McHenry</font></i></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt 10.0pt;text-indent:-10.0pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Troy E. McHenry</font></p>    </td>   </tr>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Corporate Secretary</font></p>    </td>   </tr>  </table>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT&nbsp;INDEX</font></b></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>    </td>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release dated November&nbsp;14, 2016.</font></p>    </td>   </tr>  </table>
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<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Arial" style="font-size:10.0pt;font-weight:bold;">Exhibit 99.1</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="3" face="Arial"><img width="100" height="63" src="g215741mmi001.gif" alt="GRAPHIC"></font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
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<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="4" face="Arial" style="font-size:14.0pt;font-weight:bold;">HCP Announces Next Generation of Leadership with Promotions of Tom Herzog and Justin Hutchens</font></b></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:10.0pt;">&nbsp;</font></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">Mr.&nbsp;Herzog to Become CEO and Mr.&nbsp;Hutchens President, Effective January&nbsp;1, 2017</font></i></p>
<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><i><font size="3" face="Arial" style="font-size:12.0pt;font-style:italic;">Company Retains Korn Ferry to Conduct CFO Search</font></i></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">IRVINE, Calif. and SAN FRANCISCO, Nov.&nbsp;14, 2016 /PRNewswire/ &#151; HCP (NYSE:HCP) (&#147;HCP&#148; or the &#147;Company&#148;) announced today that its Board of Directors intends to elect Tom Herzog, HCP&#146;s current Chief Financial Officer, as Chief Executive Officer and a member of the Board.&#160; The Board also intends to elect Justin Hutchens, HCP&#146;s current Chief Investment Officer, as President.&#160; Both elections are anticipated to be made effective January&nbsp;1, 2017.</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Mr.&nbsp;Herzog has served as CFO since June&nbsp;2016 after rejoining the Company, having previously served as CFO from 2009 to 2011.&#160; He will report to Mike McKee, who has served as interim President and CEO since July&nbsp;2016 and will remain Executive Chairman.&#160; Mr.&nbsp;Hutchens will report to Mr.&nbsp;Herzog.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&#147;The Board is very excited to announce HCP&#146;s new generation of leadership, which was one of the key strategic goals we outlined earlier this year,&#148; said Mr.&nbsp;McKee.&#160; &#147;Tom and Justin are both outstanding executives, and their skills and experience have been invaluable during the past year as we have made significant progress on our long-term strategic plan.&#160; In addition, elevating two highly qualified senior members of our current executive team will ensure stability as well as continuity of leadership and strategy as we continue our transition to HCP 3.0, and our vision for a stronger and more profitable company.&#160; We are all committed and excited to continue to work together to drive improved performance and build shareholder value.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&#147;I am honored by the opportunity to lead HCP through its next phase of growth and development, and I greatly appreciate the confidence of our Board of Directors,&#148; said Mr.&nbsp;Herzog.&#160; &#147;Our entire executive team and Board are fully aligned with our strategic vision, and I look forward to continuing to work with Justin and the rest of our outstanding leadership team to build value for our shareholders.&#160; Since I returned to HCP in June, we have achieved a number of our near-term strategic goals, and this gives me great confidence in our ability to continue to execute the long-term plan.&#160; From top to bottom, HCP is an extremely talented and hard-working organization, and I look forward to collaborating with our entire team to ensure this next chapter in our corporate history is as successful as possible.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Mr.&nbsp;Hutchens said, &#147;I look forward to this new role at HCP at this key point in our transition, and I am thrilled to continue working alongside Tom, whom I respect immensely as an executive and colleague.&#160; I have no doubt he will provide strong and stable leadership that will inspire continued confidence in HCP&#146;s success among our employees, shareholders, operating partners and other stakeholders.&#160; We have all worked incredibly hard this year to ensure the successful transformation of the business, and we have a clear strategy in place to continue this performance.&#148;</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">&nbsp;</font></b></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">CFO Search</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">HCP has retained Korn Ferry, a leading global executive recruiting firm, which has already initiated a search for a new CFO to replace Mr.&nbsp;Herzog in 2017.</font></p>
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<p style="margin:0in 0in .0001pt;text-align:justify;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Tom Herzog Biography</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Mr.&nbsp;Herzog is HCP&#146;s Executive Vice President and Chief Financial Officer.&#160; From January&nbsp;2013 until joining HCP in June&nbsp;2016, he was Senior Vice President - Chief Financial Officer of UDR,&nbsp;Inc., a leading multifamily REIT.&#160; Mr.&nbsp;Herzog served as Chief Financial Officer of Amstar, a Denver-based real estate investment company, from August&nbsp;2011 to January&nbsp;2013.&#160; He previously served as Executive Vice President and Chief Financial Officer of HCP from April&nbsp;2009 to May&nbsp;2011.&#160; Mr.&nbsp;Herzog was Senior Vice President and Chief Accounting Officer at Apartment Investment and Management Company, a leading multifamily REIT, from 2004 to 2005 and Executive Vice President and Chief Financial Officer from 2005 to 2009.&#160; From 2000 to 2004, he served in the roles of Chief Accounting Officer&nbsp;&amp; Global Controller and Finance Technical Advisor for GE Real Estate.&#160; Prior to joining GE Real Estate, Mr.&nbsp;Herzog began his career in public accounting with Deloitte&nbsp;&amp; Touche LLP, serving in the audit department for ten years, including a two-year national office assignment in the real estate group.&#160; He currently serves on the Board of Directors for Tier REIT, an office property REIT.</font></p>
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<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">Justin Hutchens Biography</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Mr.&nbsp;Hutchens has been with HCP since September&nbsp;2015, most recently as Executive Vice President and Chief Investment Officer.&#160; Prior to joining HCP, Mr.&nbsp;Hutchens was President and Chief Executive Officer of National Health Investors,&nbsp;Inc., a healthcare REIT, since March&nbsp;2011 and President and Chief Operating Officer (&#147;COO&#148;) from February&nbsp;2009 to March&nbsp;2011.&#160; He served on NHI&#146;s Board of Directors from 2010 to 2015.&#160; Mr.&nbsp;Hutchens has national operating experience as the Senior Vice President and COO of Summerville Senior Living from 2003 to 2007 and upon its merger with Emeritus Corporation, the Executive Vice President and COO of Emeritus Senior Living Corporation from 2007 to 2009.&#160; From 1997 to 2003, he held multi-site management roles overseeing marketing and operations in the senior housing and post-acute industries.&#160; Mr.&nbsp;Hutchens currently serves on the Board of Directors for the National Investment Center for Seniors Housing and Care.</font></p>
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<p style="background:#FEFEFE;margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">ABOUT HCP</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">HCP,&nbsp;Inc. is a fully integrated real estate investment trust (REIT) that invests primarily in real estate serving the healthcare industry in&nbsp;the United States.&#160; HCP owns a large-scale portfolio diversified across multiple sectors, led by senior housing, life science and medical office.&#160; Recognized as a global leader in sustainability, HCP has been a publicly-traded company since 1985 and was the first healthcare REIT selected to the S&amp;P 500 index.&#160; For more information regarding HCP, visit&nbsp;</font><u><font size="2" color="#4f81bd" face="Arial" style="background:white;color:#4F81BD;font-size:11.0pt;">www.hcpi.com</font></u><font size="2" face="Arial" style="font-size:11.0pt;">.</font></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">&nbsp;</font></p>
<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">FORWARD-LOOKING STATEMENTS</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">The statements contained in this release that are not historical facts are forward-looking statements within the meaning of Section&nbsp;27A of the Securities Act of 1933 and Section&nbsp;21E of the Securities Exchange Act of 1934, including those relating to our CEO and President transition and expected process for hiring our CFO and our business opportunities and outlook.&#160; These statements are made as of the date hereof, and are not guarantees of future events.&#160; They are subject to risks and uncertainties that could cause actual events to differ materially from those set forth therein or implied thereby.&#160; These risks and uncertainties include, but are not limited to, those identified in our reports filed with the Securities and Exchange Commission.&#160; We assume no, and hereby disclaim any, obligation to update any of the foregoing or any forward-looking statements as a result of new information or new or future developments, except as otherwise required by law.</font></p>
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<p style="background:#FEFEFE;margin:0in 0in .0001pt;"><b><font size="2" face="Arial" style="font-size:11.0pt;font-weight:bold;">CONTACT</font></b></p>
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<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Andrew Johns</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">Vice President &#150; Finance and Investor Relations</font></p>
<p style="margin:0in 0in .0001pt;"><font size="2" face="Arial" style="font-size:11.0pt;">(949) 407-0400</font></p>
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