Company: UHS
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049925
Chunk: 45

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 45
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 PBRSUs to award to our NEOs, the Compensation Committee reviewed the compensation data and competitive performance data prepared in March, 2024, by our third-party compensation consultant, FW Cook. The Committee also considered individual performance in light of an NEO's position, responsibilities and contribution to our financial performance as well as his potential contribution to our growth and productivity.

Vesting of PBRSUs Granted in 2022 ("2022 PBRSUs):

The pre-established 3-year target of Adjusted EBITDA net of NCI applicable to the 2022 PBRSUs (granted in March, 2022), was $2.012 billion, ranging from $1.811 billion at 90% of target to $2.214 billion at 110% of target. Our actual Adjusted EBITDA net of NCI for the year ended December 31, 2024, was $2.246 billion (see note B. below).

On March 12, 2025, our Compensation Committee determined that, based upon our 2024 actual operating results, 112% of the target Adjusted EBITDA applicable to the 2022 PBRSUs had been achieved and therefore 150% of the target 2022 PBRSUs were earned and vested as follows:

Marc D. Miller - 33,058 target 2022 PBRSUs granted; 49,587 actual 2022 PBRSUs earned and vested.

Alan B. Miller - 17,384 target 2022 PBRSUs granted; 26,076 actual 2022 PBRSUs earned and vested.

Steve G. Filton - 8,414 target 2022 PBRSUs granted; 12,621 actual 2022 PBRSUs earned and vested.

Matthew J. Peterson - 6,912 target 2022 PBRSUs granted; 10,368 actual 2022 PBRSUs earned and vested.

Since Mr. Edward H. Sim's employment with the Company commenced in December, 2022, he did not receive PBRSUs in 2022.

B. Our actual Adjusted EBITDA net of NCI for the year ended December 31, 2024 of $2.246 billion was publicly disclosed and reconciled to our reported 2024 net income attributable to UHS (of $1.142 billion) on the Schedule of Non-GAAP Supplemental Information included with our financial results for the year ended December 31, 2024,