Form 4: U S Physical Therapy Inc COO Reeve Receives Stock Grant and Amended Vesting Terms

Graham D. Reeve, COO of U S Physical Therapy Inc, received 8,100 shares of restricted stock and agreed to amended vesting terms for outstanding unvested shares.

Summary

• On February 24, 2025, Graham D. Reeve, COO of U S Physical Therapy Inc, received 8,100 shares of restricted stock under the company's Amended and Restated 2003 Stock Incentive Plan.
• The restrictions on these shares lapse in 15 equal quarterly installments of 506 shares, vesting on specific dates in May, August, November, and March each year from 2025 to 2028, with a final installment of 510 shares vesting on March 6, 2029, contingent upon continued employment.
• Additionally, the issuer and Reeve mutually agreed to amend the vesting terms of 11,092 outstanding unvested shares.
• The amended vesting schedule specifies the number of shares vesting on various dates in May, August, November, and March from 2025 to 2027, with the final shares vesting on March 6, 2028, also contingent upon continued employment.
• Following these transactions, Reeve directly owns 19,192 shares and indirectly owns 8,898 shares through the Reeve Trust.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, suggesting stability and alignment of interests. The sentiment is neutral to positive.

Positives

• The grant of restricted stock and the amendment of vesting terms may incentivize the COO to remain with the company and contribute to its success.

Risks

• The vesting of the restricted stock and amended shares is contingent upon Reeve's continued employment with the company.

Future Outlook

The document outlines the vesting schedule for the granted restricted stock and the amended vesting terms for existing unvested shares, indicating a long-term incentive plan for the COO.

Industry Context

Stock grants and vesting schedules are common practices in the healthcare industry to align executive compensation with company performance and retention.

Comparison to Industry Standards

• Companies like Select Medical Holdings Corporation and Encompass Health often use similar stock-based compensation plans for their executives.
• The vesting schedules are generally comparable to industry norms, with vesting periods ranging from three to five years.

Stakeholder Impact

• Shareholders may view the stock grant as a positive incentive for the COO.
• Employees may see this as a sign of the company's commitment to its leadership.

Key Dates

Keywords

restricted stock, vesting, COO, USPH, U S Physical Therapy Inc, Graham Reeve, stock incentive plan, beneficial ownership