Select Medical (SEM) EVP Martin Jackson Sells 1.39M Shares

What Happened
Martin F. Jackson, Executive Vice President of Select Medical Holdings Corp (SEM), reported disposal of a total of 1,393,957 SEM shares on 2026-06-30. The reported disposals consist of 1,383,421 shares (comprised of 1,138,754 common and 244,667 restricted shares per footnote) plus four smaller entries of 2,634 shares each. All transactions show $0.00 per share (total proceeds $0) because the shares were transferred under a merger agreement and converted into interests of the acquiring parent company rather than sold for cash.

Key Details

• Transaction date: 2026-06-30; Form 4 filed: 2026-07-01 (timely).
• Shares disposed: 1,393,957 total (1,383,421 + 4×2,634). Price: $0.00; reported cash proceeds: $0.
• Reason: Dispositions were made pursuant to the Agreement and Plan of Merger (see footnote F1). Per footnotes, shares were contributed to Stallion Intermediate Corporation/Parent, exchanged for Parent common shares, then converted into interests in Stallion Group Parent, LP (F2, F3).
• Ownership after transaction: the reporting person’s SEM shares were converted into parent interests; the Form notes the reporting person beneficially owns the reported securities indirectly and disclaims beneficial ownership except for any pecuniary interest (F4).
• Filing timeliness: filed promptly (no late filing indicated).

Context
This was a merger-related, non-cash transfer (conversion into parent company interests), not an open-market sale, so there were no cash proceeds and it should not be read as routine insider selling for liquidity. The filing documents a structural corporate transaction rather than an executive decision to sell shares on the market.