Form 4: UHS Executive Chairman Shifts Stock Ownership Form

Alan B. Miller, Executive Chairman of Universal Health Services, Inc., reported a change in the form of his beneficial ownership of Class A and Class B Common Stock from indirect to direct, with no change in his pecuniary interest.

Summary

• Alan B. Miller, Executive Chairman, Director, and 10% Owner of Universal Health Services, Inc. (UHS), reported changes in his beneficial ownership of Class A and Class B Common Stock.
• On August 6, 2025, Miller received 175,993 shares of Class B Common Stock as a liquidating distribution from MDM 2014 LLC, changing his direct beneficial ownership to 1,552,333 shares.
• On the same date, he received 83,252 shares of Class B Common Stock from MS 2014 LLC and another 83,252 shares from AMK 2014 LLC as liquidating distributions, increasing his direct Class B beneficial ownership to 1,635,585 and then 1,718,837 shares, respectively.
• On August 5, 2025, Miller received 131,995 shares of Class A Common Stock as a liquidating distribution from MDM 2014 LLC, changing his direct beneficial ownership of Class A derivative securities to 4,287,250.
• Also on August 5, 2025, he received 83,252 shares of Class A Common Stock from MS 2014 LLC and another 83,252 shares from AMK 2014 LLC as liquidating distributions, increasing his direct Class A derivative beneficial ownership to 4,370,502 and then 4,453,754 shares, respectively.
• These transactions represent a change in the form of ownership from indirect to direct, with no change in Miller's pecuniary interest in the securities.
• Miller disclaims pecuniary interest in shares previously held by MDM 2014 LLC, MS 2014 LLC, AMK 2014 LLC, and The Alan and Jill Miller Foundation, stating the report is not an admission of beneficial ownership for Section 16 purposes.

Sentiment

Score: 5

Explanation: The filing reports a change in the form of beneficial ownership from indirect to direct, with no change in the reporting person's pecuniary interest. This is a neutral event, not indicating a positive or negative financial development for the company or the insider's investment.

Future Outlook

NA

Industry Context

NA

Related Party Transactions

• Liquidating distributions of Class A and Class B Common Stock were received from MDM 2014 LLC, MS 2014 LLC, and AMK 2014 LLC, entities in which Alan B. Miller held an interest.
• Indirect beneficial ownership is also reported through various trusts, including The Marc Daniel Miller 2002 Trust, The Abby Danielle Miller 2002 Trust, The Marni Spencer 2002 Trust, The Abby Miller King 2011 Family Trust, The Alan and Jill Miller Foundation, The Marc Daniel Miller 2011 Family Trust, The Marni Spencer 2011 Family Trust, and various GRATs (Grantor Retained Annuity Trusts) for Abby Miller King, Marc Daniel Miller, and Marni Spencer.
• Derivative securities are indirectly owned through the Alan B. Miller Marital Trust (f/b/o Jill Miller) and The Alan B. Miller 2002 Trust.

Stakeholder Impact

• Shareholders: Minimal direct impact as the transactions represent a change in the form of ownership for an insider, not a sale or purchase that would affect market liquidity or share count. There is no change in the insider's pecuniary interest.
• Employees, Customers, Suppliers, Creditors: No direct impact as the filing pertains solely to an insider's stock ownership structure and does not relate to operational, financial, or strategic changes of the company.

Key Dates

Keywords

Universal Health Services, UHS, Alan B. Miller, Form 4, Insider Transaction, Stock Ownership, Class A Common Stock, Class B Common Stock, Healthcare