U.S. Physical Therapy COO Graham Reeve Surrenders 762 Shares

What Happened
Graham D. Reeve, Chief Operating Officer of U.S. Physical Therapy (USPH), surrendered 762 shares on August 20, 2026 to satisfy tax withholding obligations tied to vested equity. The shares were recorded at $78.00 each, for a total disposition value of $59,436. This was a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction date: 2026-08-20; Filing date (Form 4): 2026-08-24 (Accession 0001193125-26-363888).
• Shares disposed: 762 at $78.00 per share; total value $59,436.
• Transaction type/code: F — surrendered shares to issuer to satisfy tax withholding on vesting.
• Footnote: The filing notes a restricted stock grant of 17,488 shares with scheduled vesting through March 6, 2030 (various tranches contingent on continued employment).
• Filing timeliness: No late-filing indication in the provided record.

Context
This was a routine tax-withholding share surrender tied to a restricted stock vesting event (cashless withholding), not a discretionary open-market sale. Such transactions are common when equity awards vest and generally reflect payroll tax mechanics rather than a directional bet by the insider.