Singer Maria Ruderman 4

What Happened Maria Ruderman, a director of Universal Health Services (UHS), exercised stock options on 2026-03-12 to acquire 2,500 shares at an exercise price of $138.80 per share (total cost $347,000). To satisfy tax withholding, 1,809 of those shares were withheld/disposed at $191.88 per share (value $347,102). The filing also records a derivative conversion related to the 2,500-option exercise (2,500 shares at $0), reflecting the option-to-share conversion.

Key Details

• Transaction date: 2026-03-12; Form 4 filed 2026-03-13 (appears timely).
• Option exercise (code M): 2,500 shares acquired @ $138.80 = $347,000.
• Tax withholding (code F): 1,809 shares withheld/disposed @ $191.88 = $347,102.
• Derivative conversion: 2,500 shares recorded at $0 (reflects option conversion).
• Footnote: Option vested ratably on 3/17/2022, 3/17/2023, 3/17/2024 and 3/17/2025.
• Shares owned after the transaction are not specified in the provided excerpt.

Context This was an options exercise with shares withheld to cover tax obligations (a common "cashless" or net share settlement treatment). Exercises and associated tax withholding are routine for insiders and do not, by themselves, indicate a change in sentiment about the company.