MILLER ALAN B 4

What Happened Alan B. Miller, reported as a 10% owner of Universal Health Services (UHS), had 33,149 Class B shares issued on vesting of performance-based restricted stock units (RSUs) on 2026-03-12 (acquired at $0). To satisfy tax withholding, 13,045 of those shares were surrendered/disposed at $190.49 per share, generating proceeds of $2,484,942. Net shares retained from the vesting were 20,104.

Key Details

• Transaction date: 2026-03-12; Form filed 2026-03-13 (timely)
• Award: 33,149 shares issued upon RSU vesting (code A) at $0
• Tax withholding: 13,045 shares withheld/disposed (code F) at $190.49 → $2,484,942
• Net shares retained from this vesting: 20,104 (33,149 − 13,045)
• Footnote: RSUs were granted March 15, 2023 and vested based on performance criteria; they were not previously reportable. Reporting person disclaims beneficial ownership of these securities per filing.
• Filing appears timely (reported the day after the transaction)

Context This was a vesting of performance-based RSUs, not an open-market sale or purchase. The 13,045-share disposal was for tax withholding (routine) rather than a discretionary sell decision. As a reported 10% owner (with a disclaimer of beneficial ownership), this filing reflects issuance and tax-related withholding tied to compensation vesting rather than an indication of market sentiment.