Form 4: Alan B. Miller Reports Class B Share Transactions Related to GRATs

Alan B. Miller, Executive Chairman of Universal Health Services, reports transactions involving Class B Common Stock related to distributions from various Grantor Retained Annuity Trusts (GRATs) to himself and family trusts.

Summary

• Alan B. Miller, Executive Chairman of Universal Health Services, filed a Form 4 detailing changes in his beneficial ownership of Class B Common Stock.
• The transactions involve distributions of shares from several 2022 GRATs (Grantor Retained Annuity Trusts) to Mr. Miller and family trusts on May 22, 2024.
• These GRATs include the Marc Daniel Miller 2022 GRAT, the Marni Spencer 2022 GRAT, and the Abby Miller King 2022 GRAT.
• Mr. Miller received 12,214 shares from the Marc Daniel Miller 2022 GRAT, 9,162 shares from the Marni Spencer 2022 GRAT, and 9,162 shares from the Abby Miller King 2022 GRAT.
• Shares were also distributed from these GRATs to The Marc Daniel Miller 2002 Trust, The Marni Spencer 2002 Trust, and The Abby Danielle Miller 2002 Trust.
• Mr. Miller's pecuniary interest in the shares distributed to him from the GRATs remains unchanged.
• The filing also lists indirect ownership through various LLCs and family trusts.
• This Form 4 is one of two filings due to SEC EDGAR system limitations on the number of lines per form.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing transactions related to existing trust arrangements. It doesn't inherently convey positive or negative sentiment about the company's performance.

Positives

• The filing provides transparency into the transactions of a key executive.
• The distributions from GRATs are part of pre-existing trust agreements.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors for signals about management's view of the company's prospects.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies, ensuring compliance with SEC regulations.
• Similar filings are made by executives at comparable healthcare companies like HCA Healthcare and Tenet Healthcare, reflecting their transactions in company stock.

Stakeholder Impact

• The transactions may be of interest to shareholders seeking to understand insider activity.
• The distributions from GRATs do not directly impact employees, customers, suppliers, or creditors.

Key Dates