Form 4: UHS Director Exercises Options, Sells Shares

Universal Health Services Director Elliot J. Sussman exercised stock options and subsequently sold a portion of the acquired shares and withheld others for tax obligations.

Summary

• Director Elliot J. Sussman exercised options to acquire 2,500 shares of Class B Common Stock at an exercise price of $138.80 per share on October 29, 2025.
• Following the option exercise, 1,535 shares were disposed of for tax withholding purposes at a price of $226.15 per share.
• An additional 965 shares were sold at a weighted average price of $225.6981, with individual sale prices ranging from $225.38 to $225.80.
• The total number of shares acquired through option exercise (2,500) equals the total number of shares disposed of through tax withholding and sale (1,535 + 965 = 2,500).
• After these transactions, Director Sussman's direct beneficial ownership of Class B Common Stock remains at 6,113 shares.
• The options had vested ratably on March 17, 2022, March 17, 2023, March 17, 2024, and March 17, 2025, and had an expiration date of March 16, 2026.

Sentiment

Score: 5

Explanation: The transaction is largely neutral. While the exercise of options indicates the director is realizing value, the subsequent sale of all acquired shares to cover taxes and potentially for liquidity means there is no net increase in the director's direct equity stake in the company. This is a routine insider transaction.

Positives

• Director Elliot J. Sussman exercised 2,500 stock options, realizing value from previously granted equity.
• The exercise price of $138.80 was significantly lower than the sale prices of $226.15 and $225.6981, indicating a substantial gain for the director.

Negatives

• The director's direct beneficial ownership of Class B Common Stock remained unchanged at 6,113 shares following the exercise and subsequent sale of all 2,500 acquired shares (1,535 for tax withholding and 965 for sale). This transaction did not increase the director's equity stake in the company.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: The transaction results in no net change to the director's direct beneficial ownership of common stock, thus having a minimal direct impact on overall insider alignment.

Key Dates

Keywords

Universal Health Services, UHS, Elliot J. Sussman, Insider Trading, Form 4, Stock Options, Share Sale, Director Transaction, Healthcare, Hospital Management