Form 4: Alan B. Miller, Executive Chairman of Universal Health Services, Reports Acquisition of Restricted Stock Units

Alan B. Miller, Executive Chairman of Universal Health Services, reports the acquisition of 11,966 restricted stock units.

Summary

• On March 21, 2024, Alan B. Miller, the Executive Chairman of Universal Health Services Inc., reported the acquisition of 11,966 shares of Class B Common Stock.
• These shares were acquired as restricted stock units granted under the company's Amended and Restated 2020 Omnibus Stock and Incentive Plan.
• The units will vest ratably on March 21 of 2025, 2026, 2027, and 2028.
• Following the transaction, Miller directly owns 1,128,174 shares of Class B Common Stock.
• Miller also has indirect ownership through various entities and trusts, including AMK 2014 LLC, The Abby Danielle Miller 2002 Trust, The Abby Miller King 2011 Family Trust, MDM 2014 LLC, The Marc Daniel Miller 2002 Trust, MS 2014 LLC, The Marni Spencer 2002 Trust, The Alan and Jill Miller Foundation, The Marc Daniel Miller 2011 Family Trust, The Marni Spencer 2011 Family Trust, Abby Miller King 2022 GRAT, Abby Miller King 2023 GRAT, Marc Daniel Miller 2022 GRAT, Marc Daniel Miller 2023 GRAT, Marni Spencer 2022 GRAT and Marni Spencer 2023 GRAT.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard executive compensation practices and aligns management interests with shareholders. There are no indications of negative performance or concerns.

Positives

• The acquisition of restricted stock units aligns Miller's interests with the long-term performance of Universal Health Services.
• The vesting schedule encourages continued service and commitment from the Executive Chairman.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting schedule of the restricted stock units.

Management Comments

• Mr. Alan B. Miller disclaims beneficial ownership of these securities held by The Alan and Jill Miller Foundation, and this report shall not be deemed an admission that Mr. Alan B. 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 disclosure related to executive compensation and is typical for publicly traded companies. It provides transparency into the equity holdings of key executives.

Comparison to Industry Standards

• Executive compensation packages often include restricted stock units to align executive interests with shareholder value, a common practice among publicly traded companies like HCA Healthcare and Tenet Healthcare.
• The vesting schedule of these units is fairly standard, similar to those offered by competitors in the healthcare services industry.

Stakeholder Impact

• The granting of restricted stock units can positively impact shareholders by aligning executive interests with long-term company performance.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates