REEVE GRAHAM D. 4

4 · U S PHYSICAL THERAPY INC /NV · Filed Jun 22, 2026

AI-generated summary of this filing

Updated Jun 22, 2026

U S Physical Therapy (USPH) COO Graham Reeve Surrenders 762 Shares

What Happened

Graham D. Reeve, Chief Operating Officer of U S Physical Therapy (ticker: USPH), surrendered 762 shares on May 20, 2026 to satisfy tax withholding obligations related to vested restricted stock. The shares were valued at $62.24 each, for a total of $47,427.
This was a tax-withholding disposition (transaction code F), not an open-market sale or purchase; such share surrenders are routine when restricted awards vest.

Key Details

Transaction date and price: May 20, 2026 — 762 shares at $62.24 per share (total $47,427).
Shares owned after transaction: Not specified in the provided filing.
Footnote F1: Shares were surrendered to the issuer to satisfy applicable tax withholding obligations upon vesting.
Footnote F2: The filing shows a prior grant of 19,436 restricted shares with scheduled vesting in multiple tranches between Aug 20, 2026 and Mar 6, 2030 (specific tranche amounts listed in the filing).
Timeliness: The Form 4 was filed late; the filing states this was due to an inadvertent administrative error.

Context

This was a cashless/share-surrender to cover taxes on vested restricted stock (F code). These transactions are administrative and do not necessarily indicate a change in the insider’s view of the company.
Retail investors typically treat outright purchases as stronger signals than routine tax withholdings or intra-company share surrenders.

Form 4

Period: 2026-05-20

COO

Transactions

Footnotes (2)

[F1]The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.
[F2]Includes 19,436 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,948 shares will vest on each of August 20, 2026 and November 20, 2026, 1,956 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

Signature

/s/ Kate Venturina, as attorney-in-fact|2026-06-22

1 file