American Healthcare REIT, Inc.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officer; Compensatory Arrangements of Certain Officers. On September 2, 2026, we announced the appointment of Aric Chang as our Chief Financial Officer, effective October 1, 2026, following the September 2, 2026 notification by Brian S. Peay of his decision to retire as Chief Financial Officer, effective September 30, 2026. Aric Chang, age 47, has served as Chief Financial Officer, Real Estate at Public Storage (NYSE: PSA), an S&P 500 real estate company, since May 2023, where he has led teams spanning real estate and corporate finance, financial planning and analysis, investment underwriting and real estate data analytics. Mr. Chang’s career has spanned public and private markets since 2001. Prior to joining Public Storage in 2023, he held senior finance positions at multiple publicly traded real estate investment trust, or REITs, including Rexford Industrial Realty, Inc., an industrial REIT, where he served as Senior Vice President, Investor Relations and Capital Markets from August 2022 to April 2023, and Rouse Properties, Inc., a mall and retail REIT, where he managed corporate finance and debt restructuring from 2013 to 2015, prior to that company’s acquisition by Brookfield. From 2015 to August 2022, Mr. Chang served as Executive Director, Research & Strategy at J.P. Morgan Asset Management, a real estate investment platform managing over $80 billion of assets across multiple equity and debt strategies. Earlier in his career, he held senior REIT research roles at Green Street Advisors and Oak Hill REIT Management, a real estate long/short hedge fund sponsored by the Robert M. Bass family office. Mr. Chang holds a B.S. in Economics from the Wharton School at the University of Pennsylvania and an M.B.A. from Columbia Business School. In connection with Mr. Chang’s appointment, following approval by our Board of Directors, or the Board, upon the recommendation of the Compensation Committee of the Board, or the Compensation Committee, we and Mr. Chang entered into an employment letter on September 2, 2026, or the Chang Offer Letter, memorializing the terms of his employment, which includes the following compensation elements: (i) an annual base salary of $500,000; (ii) a target annual bonus opportunity equal to 100% of Mr. Chang’s base salary, pro-rated based on his period of service during 2026; (iii) beginning in 2027, 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 and (iv) participation in the American Healthcare Opps Holdings, LLC Executive Severance and Change in Control Plan. Additionally, as an inducement for Mr. Chang to join our company, he will also receive a cash payment of $310,000, payable within 30 days following his start date. The description of the Chang Offer Letter is qualified in its entirety by the Chang Offer Letter attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. In order to support the transition of his duties, Mr. Peay will serve as a non-employee consultant from his retirement date through April 15, 2027, or the Consulting Period. Pursuant to the terms of a transition and separation agreement and general release between our company and Mr. Peay, dated September 2, 2026, or the Transition Agreement, as compensation for his services as a consultant and in exchange for a release of claims in favor of our company, Mr. Peay will receive a consulting payment equal to his base salary through the remainder of 2026, payout under our 2026 short-term incentive program equal to 150% of his 2026 base salary, accelerated vesting of 18,159 shares of restricted stock that were granted to Mr. Peay on February 9, 2024 and a payment of $45,000 as reimbursement for the expected health continuation premiums to be incurred by Mr. Peay under COBRA. In addition, Mr. Peay’s outstanding equity awards will continue to vest during the Consulting Period. The description of the Transition Agreement is qualified in its entirety by the Transition Agreement attached as Exhibit 10.2 to this Current Report on Form 8-K and incorporated herein by reference. Mr. Peay’s decision to retire is not as a result of any disagreement with our company on any matter relating to our operations, policies or practices. There are no arrangements or understandings between Mr. Chang and any other persons pursuant to which he was selected as an officer of our company. There are no family relationships between Mr. Chang and any director or executive officer of our company and there are no transactions involving our company that would be required to report pursuant to Item 404(a) of Regulation S-K.

Item 7.01 Regulation FD Disclosure. On September 2, 2026, we issued a press release relating to the matters described in Item 5.02 above. A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information contained in this Item 7.01, including Exhibit 99.1, is being “furnished” and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended.