13D Filing: Brigade Capital and Kindred Healthcare Inc (KND)

Explanatory Note

This Amendment No. 4 (“Amendment No. 4”)
relates to the common stock, par value $0.25 per share (the “Common Stock”), of Kindred Healthcare, Inc. (the “Issuer”).
This Amendment No. 4 amends and supplements the Statement on Schedule 13D filed with the Securities and Exchange Commission (the
“SEC”) on December 27, 2017 (the “Initial Schedule 13D”), as amended and supplemented by Amendment No. 1, filed
February 1, 2018 (“Amendment No. 1”), Amendment No. 2, filed March 9, 2018 (“Amendment No. 2”), and Amendment
No. 3, filed March 21, 2018 (“Amendment No. 3”). The Initial Schedule 13D, as amended and supplemented by Amendment
No. 1, Amendment No. 2, Amendment No. 3, and this Amendment No. 4 is referred to herein as the “Schedule 13D.” Capitalized
terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D. Except as otherwise
provided herein, each Item of the Schedule 13D remains unchanged.

 

 

Item 3. Source and Amount of Funds or Other
Consideration

Item 3 of the Schedule 13D is hereby amended
by adding the following:

LCS used approximately $925,721.50
(excluding brokerage commissions) of the working capital of LCS to purchase the shares of Common Stock reported in this
Amendment No. 4. EQTY used approximately $24,068.50 (excluding brokerage commissions) of the working capital of EQTY to purchase
the shares of Common Stock reported in this Amendment No. 4. DSTR used approximately $113,960.00 (excluding brokerage commissions)
of the working capital of DSTR to purchase the shares of Common Stock reported in this Amendment No. 4.

Item 4. Purpose of Transaction

 

Item 4 of the Schedule 13D is hereby amended
by deleting the last paragraph of the Initial Schedule 13D and substituting the following in lieu thereof:

Brigade reserves the right to change its intention
with respect to any and all matters referred to in subparagraphs (a) – (j) of Item 4 of Schedule 13D. Brigade may, at any
time and from time to time, review or reconsider its position and/or change its purpose and/or formulate plans or proposals with
respect thereto and carry out any of the actions or transactions described in paragraphs (a) through (j) of the instructions to
Item 4 of Schedule 13D, to the extent it deems advisable.  Notwithstanding the foregoing, Brigade has no intention to engage
in a control transaction, or any contested solicitation for the election of directors, by means of the activities described in
subparagraphs (a), (b), or (d) of Item 4.