U.S. Physical Therapy (USPH) Director Minan Buys Shares

What Happened

• Minan Peter Francis, a director of U.S. Physical Therapy (USPH), made two open-market purchases: 0.87 shares on 2026-06-12 at $66.50 ($58) and 5.27 shares on 2026-09-11 at $79.00 ($416). Total cash outlay across both transactions was about $474.
• These were purchases (not sales), which are simply insider purchases reported to the SEC — factual reporting of acquisitions rather than commentary on intent.

Key Details

• Transaction dates and prices:
  • 2026-06-12: 0.87 shares @ $66.50 = ~$58 (footnote F1: fractional share via automatic dividend reinvestment; this trade was inadvertently not reported at the time and is being reported now)
  • 2026-09-11: 5.27 shares @ $79.00 = ~$416
• Shares owned after transaction: Not specified in the summary data provided in your prompt (the Form 4 would list total beneficial ownership).
• Notable footnotes:
  • F1: The 0.87-share purchase was a fractional share from automatic dividend reinvestment and was inadvertently omitted earlier (late-reported here).
  • F2: The filing notes 1,153 restricted shares previously granted under the company plan that vest in Nov 2026 (576) and Mar 2027 (577) if he remains a director.
  • F3: Indicates some shares were acquired via automatic dividend reinvestment in the reporting person’s brokerage account.
• Filing timeliness: The June 12 fractional-share transaction was not reported at the time and is being disclosed on this Form 4 (late reporting for that item).

Context

• These were small open-market purchases and include dividend-reinvestment fractional shares; such purchases are routine and factual disclosures rather than explicit signals of company outlook.
• For retail investors, purchases by directors can be informational, but the dollar amounts here are modest and include reinvested dividends and previously granted restricted shares with future vesting conditions.