Form 4: U.S. Physical Therapy EVP Sells 2,000 Shares
SEC Form 4
Richard Binstein, EVP, General Counsel & Secretary of U.S. Physical Therapy Inc, sold 2,000 shares of common stock at a weighted average price of $106.55 on March 13, 2024.
Summary
- On March 13, 2024, Richard Binstein, the EVP, General Counsel & Secretary of U.S. Physical Therapy Inc, sold 2,000 shares of common stock.
- The sale was executed at a weighted average price of $106.55 per share, with individual transactions ranging from $106.55 to $106.71.
- Following the reported transaction, Binstein directly owns 15,006 shares, which includes 14,134 shares of restricted stock granted under the company's Amended and Restated 2003 Stock Incentive Plan.
- The restricted stock vests in installments between April 1, 2024, and January 1, 2028, contingent upon continued employment with the company.
Sentiment
Score: 5
Explanation: This is a neutral event. An executive selling shares is not inherently positive or negative, but it provides information about their individual financial decisions.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.
Stakeholder Impact
- The sale of shares by an executive may be perceived by some shareholders as a lack of confidence in the company, although it could also be for personal financial planning reasons.
Key Dates
| Date | Description |
|---|---|
| 03/13/2024 | Date of stock sale transaction |
| 03/14/2024 | Date of Form 4 filing |
| April 1, 2024 | First vesting date of restricted stock (1,239 shares) |
| July 1, 2024 | Second vesting date of restricted stock (1,239 shares) |
| October 1, 2024 | Third vesting date of restricted stock (1,239 shares) |
| January 1, 2025 | Fourth vesting date of restricted stock (1,241 shares) |
| April 1, 2025 | Fifth vesting date of restricted stock (1,045 shares) |
| July 1, 2025 | Sixth vesting date of restricted stock (1,045 shares) |
| October 1, 2025 | Seventh vesting date of restricted stock (1,045 shares) |
| January 1, 2026 | Eighth vesting date of restricted stock (1,049 shares) |
| April 1, 2026 | Ninth vesting date of restricted stock (740 shares) |
| July 1, 2026 | Tenth vesting date of restricted stock (740 shares) |
| October 1, 2026 | Eleventh vesting date of restricted stock (740 shares) |
| January 1, 2027 | Twelfth vesting date of restricted stock (747 shares) |
| April 1, 2027 | Thirteenth vesting date of restricted stock (506 shares) |
| July 1, 2027 | Fourteenth vesting date of restricted stock (506 shares) |
| October 1, 2027 | Fifteenth vesting date of restricted stock (506 shares) |
| January 1, 2028 | Final vesting date of restricted stock (507 shares) |
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