Form 4: U.S. Physical Therapy COO Reeve Granted Restricted Stock

Graham D. Reeve, COO of U.S. Physical Therapy, received 8,100 shares of restricted stock on February 26, 2024, under the company's stock incentive plan.

Summary

• On February 26, 2024, Graham D. Reeve, the COO of U.S. Physical Therapy Inc., was granted 8,100 shares of common stock as restricted stock.
• These shares were granted under the company's Amended and Restated 2003 Stock Incentive Plan.
• The restrictions on these shares will lapse in 15 equal quarterly installments, beginning with 506 shares vesting on April 1, 2024.
• Subsequent vesting will occur on April 1, July 1, October 1, and January 1 of each year, with the final 510 shares vesting on January 1, 2028, contingent upon Reeve's continued employment with the company.
• Following this transaction, Reeve directly owns 18,260 shares of common stock, inclusive of the newly granted shares.
• Reeve also indirectly owns 9,531 shares through the Reeve Trust.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The granting of restricted stock is a positive sign of aligning management with shareholder interests, but it's a routine event.

Positives

• The grant of restricted stock aligns the COO's interests with those of the shareholders.
• The vesting schedule incentivizes continued employment and contribution to the company's success.

Risks

• The vesting of the restricted stock is contingent upon Reeve's continued employment, creating a potential risk if he were to leave the company before all shares vest.

Future Outlook

The document does not contain specific forward-looking statements, but the vesting schedule implies a continued commitment from the COO to the company's future.

Industry Context

Stock grants to executives are a common practice in the healthcare industry to incentivize performance and align management's interests with those of shareholders. This grant is consistent with standard compensation practices.

Comparison to Industry Standards

• Comparing the size and vesting schedule of this stock grant to similar grants at companies like ATI Physical Therapy or Select Medical Holdings would provide a better understanding of whether this grant is above or below industry standards.
• Typically, companies in the healthcare services sector use a mix of salary, bonus, and equity compensation to attract and retain key executives.

Stakeholder Impact

• Shareholders may view the stock grant positively as it aligns management's interests with the company's long-term success.
• Employees may see this as a positive sign of the company investing in its leadership.

Key Dates