Form 4: Select Medical Holdings Corp: Officer Reports Changes in Beneficial Ownership

Robert G. Breighner JR, Vice President of Compliance at Select Medical Holdings Corp, reports changes in beneficial ownership of company stock due to tax withholding and a grant of restricted stock.

Summary

• On April 28, 2024, Robert G. Breighner JR surrendered 1,985 shares of common stock at $27.41 to satisfy tax withholding obligations related to vesting restricted stock.
• Following this transaction, Breighner directly owned 31,004 shares of common stock.
• On April 30, 2024, Breighner was granted 7,000 shares of restricted stock at $0.
• These shares will vest in full on April 30, 2028, the fourth anniversary of the grant date.
• Following the grant, Breighner directly owns 38,004 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, so the sentiment is neutral.

Positives

• The grant of 7,000 restricted shares to the Vice President of Compliance indicates a long-term incentive and alignment with the company's future performance.

Future Outlook

The restricted stock grant vests in full on April 30, 2028, incentivizing the reporting person for long-term performance.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard compensation practices.

Comparison to Industry Standards

• Restricted stock grants are a common form of executive compensation in publicly traded companies, including those in the healthcare sector like Universal Health Services and HCA Healthcare.
• The vesting schedule of four years is also typical for such grants, aligning with industry norms for long-term incentives.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The restricted stock grant aligns management's interests with those of shareholders.

Key Dates