Form 4: Universal Health Services Executive Chairman Alan B. Miller Reports Changes in Beneficial Ownership

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

Summary

• On May 14, 2025, Alan B. Miller reported changes in his beneficial ownership of Universal Health Services (UHS) Class B Common Stock.
• The transactions involve distributions of shares from various Grantor Retained Annuity Trusts (GRATs) to Mr. Miller and family trusts.
• Specifically, shares were distributed from the Marc Daniel Miller 2023 GRAT, the Marni Spencer 2023 GRAT, and the Abby Miller King 2023 GRAT.
• Mr. Miller received 16,005 shares from the Marc Daniel Miller 2023 GRAT, 12,005 shares from the Marni Spencer 2023 GRAT, and 12,005 shares from the Abby Miller King 2023 GRAT.
• Additionally, 7,560 shares were distributed to The Marc Daniel Miller 2002 Trust, 5,667 shares to The Marni Spencer 2002 Trust, and 5,667 shares to The Abby Danielle Miller 2002 Trust.
• Mr. Miller disclaims beneficial ownership of certain securities held by The Alan and Jill Miller Foundation.
• The report indicates both direct and indirect ownership of Class B Common Stock through various trusts and LLCs.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing transactions related to executive compensation and estate planning. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Positives

• The transactions are part of planned distributions from established GRATs, suggesting a pre-arranged estate planning strategy.

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 a routine part of corporate governance, providing transparency into the transactions of company insiders.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in ownership structure, but the overall impact is likely minimal as the shares remain under the control of Mr. Miller and his family trusts.

Key Dates

Keywords

beneficial ownership, Form 4, Universal Health Services, UHS, Alan B. Miller, GRAT, Class B Common Stock, securities, trusts