Form 4: Universal Health Services Executive Chairman Alan B. Miller Executes Stock Options, Adjusts Holdings

Alan B. Miller, Executive Chairman of Universal Health Services, exercised stock options and disposed of shares to cover tax obligations, resulting in adjustments to his direct and indirect holdings of Class B Common Stock.

Summary

• On March 10, 2025, Alan B. Miller, the Executive Chairman of Universal Health Services, exercised options to purchase 115,000 shares of Class B Common Stock at $74.46 and 100,000 shares at $67.69.
• Following these transactions, Miller disposed of 141,872 shares at $174.55 to cover tax obligations.
• After these transactions, Miller directly owns 1,278,730 shares of Class B Common Stock.
• Miller also has indirect ownership through various trusts and LLCs, including AMK 2014 LLC, MDM 2014 LLC, MS 2014 LLC, and family trusts.
• He disclaims beneficial ownership of shares held by The Alan and Jill Miller Foundation.

Sentiment

Score: 5

Explanation: The document reflects standard insider trading activity (exercise of options and tax-related sales), which is neither particularly positive nor negative.

Management Comments

• Mr. Alan B. Miller disclaims beneficial ownership of these securities, 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

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership, but the overall effect is likely minimal.

Key Dates