Form 4: Universal Health Realty Income Trust CEO Alan B. Miller Reports Grant of Restricted Stock

Universal Health Realty Income Trust's President and CEO, Alan B. Miller, reported the acquisition of 6,021 restricted shares of beneficial interest as part of the company's 2007 Restricted Stock Plan.

Summary

• Alan B. Miller, President and CEO, and a Director of Universal Health Realty Income Trust (UHT), reported a change in beneficial ownership.
• On June 11, 2025, Mr. Miller acquired 6,021 shares of beneficial interest.
• These shares were granted at a price of $0, indicating they are restricted shares.
• The grant was made pursuant to the Amended and Restated Universal Health Realty Income Trust 2007 Restricted Stock Plan.
• The acquired shares will vest on the second anniversary of the grant date, specifically on June 11, 2027.
• Following this transaction, Mr. Miller directly beneficially owns 169,857 shares.
• Additionally, 42,000 shares are indirectly beneficially owned by The Alan B. Miller Family Foundation, though Mr. Miller disclaims beneficial ownership of these securities.

Sentiment

Score: 7

Explanation: The document reports a routine executive compensation event (restricted stock grant), which is generally viewed positively as it aligns management incentives with shareholder interests, but it does not contain significant new financial or operational news to warrant a higher score.

Positives

• The grant of restricted stock to the CEO aligns management's interests with long-term shareholder value.
• The grant is part of an existing, approved stock plan (2007 Restricted Stock Plan), indicating a structured and transparent compensation approach.

Future Outlook

The vesting schedule for the granted restricted shares indicates a future milestone on June 11, 2027, when these shares will become fully vested.

Management Comments

• "Mr. Miller disclaims beneficial ownership of these securities [held by The Alan B. Miller Family Foundation], and this report shall not be deemed an admission that Mr. Miller is the beneficial owner of these securities for purposes of Section 16 or for any other purpose."

Industry Context

This filing is a routine insider transaction disclosure for a Real Estate Investment Trust (REIT) specializing in healthcare properties. Executive compensation through restricted stock grants is a common practice across industries, including REITs, to incentivize long-term performance and align management interests with shareholders.

Comparison to Industry Standards

• Granting restricted stock to executive leadership is a standard practice in corporate compensation across various industries, including healthcare REITs.
• This method is widely used by companies like Welltower Inc. (WELL) or Ventas, Inc. (VTR) to retain key talent and align executive incentives with long-term shareholder value creation.
• The $0 acquisition price is typical for such grants, reflecting compensation rather than a purchase.

Stakeholder Impact

• Shareholders: The grant of restricted stock to the CEO aligns his interests with long-term shareholder value, potentially benefiting shareholders if the company performs well.
• Management/Employees: Alan B. Miller's compensation package is enhanced, providing an incentive for continued performance.

Next Steps

• The 6,021 restricted shares granted to Alan B. Miller are scheduled to vest on June 11, 2027.

Key Dates

Recommendation

Keywords

Universal Health Realty Income Trust, UHT, Alan B. Miller, SEC Form 4, Insider Transaction, Restricted Stock, Beneficial Ownership, Executive Compensation, REIT, Healthcare REIT