Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Nungester Paul D Jr
   2. Issuer Name and Ticker or Trading Symbol
WELLTOWER INC. [HCN] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Principal Accounting Officer
(Last)
(First)
(Middle)
4500 DORR STREET		 3. Date of Earliest Transaction (Month/Day/Year)
03/28/2017
(Street)

TOLEDO, OH 43615		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 03/28/2017   M   3,197 A $ 43.29 33,795 D  
Common Stock 03/28/2017   M   3,255 A $ 49.17 37,050 D  
Common Stock 03/28/2017   S   6,452 D $ 70.2649 (1) 30,598 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Options (Right to Buy) $ 43.29 03/28/2017   M     3,197 01/15/2011(2) 01/28/2020 Common 3,197 (2) $ 0 (3) 0 D  
Options (Right to Buy) $ 49.17 03/28/2017   M     3,255 01/15/2012(4) 01/27/2021 Common 3,255 (4) $ 0 (3) 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Nungester Paul D Jr
4500 DORR STREET
TOLEDO, OH 43615		       Principal Accounting Officer

Signatures

 By: Matthew McQueen Attorney-in-Fact For: Paul D. Nungester, Jr.   03/29/2017
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) This transaction was executed in multiple trades at prices ranging from $72.23 to $70.3421. The price reported above reflects the weighted average sale price. The reporting person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
(2) Options for the purchase of 3,197 shares of common stock at $43.29 per share were granted to Mr. Nungester on January 28, 2010, which grant has previously been reported. Options for the purchase of 640 shares vested on January 15 of each of 2011 and 2012, and options for the purchase of 639 vested on January 15 of each of 2013, 2014 and 2015.
(3) The options were granted under the Welltower Inc. 2005 Long-Term Incentive Plan and had no acquisition price.
(4) Options for the purchase of 3,255 shares of common stock at $49.17 per share were granted to Mr. Nungester on January 27, 2011, which grant has previously been reported. Options for the purchase of 651 shares vested on January 15 of each of 2012, 2013, 2014, 2015 and 2016.

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