Company: USPH
Filing Date: 2025-03-28
Form Type: 8-K
Source: 0001140361-25-010807
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Company: U S PHYSICAL THERAPY INC /NV
Filing Date: 2025-03-28
Form: 8-K
Item: Item 5.02
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Item 5.02      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

Compensatory Arrangements of Executive Officers

Effective March 26, 2025 (“ Effective Date”), the Compensation Committee of the Board of Directors (the “ Committee”) as defined in Section 1.8 of
the U. S. Physical Therapy, Inc. (“ USPH”) 2003 Stock Incentive Plan (the “2003 Plan”) approved and adopted the incentive plans for senior management as described below. Members of senior management who are eligible under the incentive plans include
Mr. Christopher Reading, Chief Executive Officer (“ CEO”), Mr. Eric Williams, President and Chief Operating Officer - East (“ President”), Mr. Carey Hendrickson, Chief Financial Officer (“ CFO”), Mr. Graham Reeve, Chief Operating Officer - West (“ COO
West”), and Mr. Rick Binstein, Executive Vice President, General Counsel and Secretary (“ EVP”), (hereinafter collectively referred to as “ Executives”).

Objective Long-Term Incentive Plan for Senior Management for 2025 (“ Objective LTIP”): Under this Objective LTIP, Executives have an opportunity to receive Restricted Stock Awards (“ RSAs”) under the 2003 Plan to be granted by the Committee in the first quarter of 2026 subject to the continuous employment
of the Executive by USPH or its affiliates from the Effective Date through the date of the grant of the RSA and the achievement of certain level of Adjusted EBITDA. All RSAs shall be granted subject to the terms of the 2003 Plan and the specific
terms and conditions (including without limitation, restrictions in transfer and substantial risk of forfeiture) as determined by the Committee in its sole discretion. The number of RSAs that may be granted under this Objective LTIP will vest
evenly over 16 quarters, beginning May 20, 2026, and thereafter on August 20, November 20, and March 6, with final vesting on March 6, 2030, subject to acceleration of vesting in the Committee's sole discretion and based on the occurrence of
certain events, as more specifically defined in the applicable Restricted Stock Agreement between the Executive and USPH and/or in the Executive's employment agreement with USPH. The number of RSAs that may be granted is subject to the
achievement of Adjusted EBITDA for the year