Form 4: USPH COO Sells Shares, Discloses Vesting Schedule
Insider Transaction Report
U.S. Physical Therapy COO Graham D. Reeve sold 743 shares of common stock at a weighted average price of $71.01 per share.
Summary
- Graham D. Reeve, Chief Operating Officer (COO) of U.S. Physical Therapy, Inc. (USPH), reported a sale of common stock.
- The transaction involved 743 shares disposed of on November 24, 2025.
- The shares were sold at a weighted average price of $71.01, with individual transaction prices ranging from $71.01 to $71.31 per share.
- Following this transaction, Mr. Reeve directly beneficially owns 20,740 shares of common stock.
- An additional 1,808 shares are indirectly beneficially owned through the Reeve Trust.
- The direct beneficial ownership includes 13,348 shares of restricted stock granted under the Company's Amended and Restated 2003 Stock Incentive Plan.
- These restricted shares are subject to a vesting schedule, with tranches lapsing between March 6, 2026, and March 6, 2029, contingent on Mr. Reeve's continued employment.
Sentiment
Score: 5
Explanation: The filing is a factual report of an insider stock transaction and does not inherently convey positive or negative sentiment regarding the company's performance or prospects. The sale amount is relatively small compared to total holdings.
Future Outlook
This filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.
Industry Context
This insider transaction report provides specific details about a stock sale by a key executive at U.S. Physical Therapy, Inc. It does not offer broader insights into industry trends or competitive landscape.
Related Party Transactions
- Graham D. Reeve indirectly beneficially owns 1,808 shares through the Reeve Trust.
Stakeholder Impact
- Shareholders may monitor insider transactions as a signal of management's confidence, though the reported sale is a relatively small portion of the COO's total beneficial ownership.
Next Steps
- Vesting of remaining restricted shares will occur on various dates between March 6, 2026, and March 6, 2029, contingent on continued employment.
Key Dates
| Date | Description |
|---|---|
| 11/24/2025 | Transaction Date: Sale of 743 shares of Common Stock by Graham D. Reeve. |
| 11/25/2025 | Signature Date of the Form 4 filing. |
| 03/06/2026 | Vesting of 1,964 restricted shares. |
| 05/20/2026 | Vesting of 1,324 restricted shares. |
| 08/20/2026 | Vesting of 1,324 restricted shares. |
| 11/20/2026 | Vesting of 1,324 restricted shares. |
| 03/06/2027 | Vesting of 1,332 restricted shares. |
| 05/20/2027 | Vesting of 1,012 restricted shares. |
| 08/20/2027 | Vesting of 1,012 restricted shares. |
| 11/20/2027 | Vesting of 1,012 restricted shares. |
| 03/06/2028 | Vesting of 1,016 restricted shares. |
| 05/20/2028 | Vesting of 506 restricted shares. |
| 08/20/2028 | Vesting of 506 restricted shares. |
| 11/20/2028 | Vesting of 506 restricted shares. |
| 03/06/2029 | Vesting of 510 restricted shares. |
Keywords
USPH, U.S. Physical Therapy, Graham D. Reeve, COO, Insider Transaction, Form 4, Stock Sale, Beneficial Ownership, Restricted Stock
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