Company: USPH
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001140361-25-013467
Chunk: 13

Company: U S PHYSICAL THERAPY INC /NV
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 13
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, the Board promoted Eric Williams to President and Chief Operating Officer - East. In connection with its decision to combine the CEO and Chairman roles, the Board created the position of Lead Independent Director, adopted a Lead Independent Director Charter, and appointed Dr. Bernard Harris to serve in that role effective upon his re-election at the 2024 Annual Meeting. Dr. Harris has served as a director since 2005. The Board continues to believe that Mr. Reading’s service as both Chairman of the Board and Chief Executive Officer puts him in the best position to execute our business strategy and business plans to maximize shareholder value. Because Mr. Reading has primary management responsibility with respect to the day-to-day business operations of the Company, he is best able to ensure that regular meetings of the Board are focused on the most important issues facing us at any given time. Our Board leadership structure also demonstrates to all our stakeholders (stockholders, employees, customers and communities around the country) that we are under strong leadership, with Mr. Reading setting the tone and having primary management responsibility. The Lead Independent Director and other independent directors actively oversee Mr. Reading’s management of our operations and strategy execution. They will continue to take an active role in overseeing the Company’s management and key issues related to strategy, risk, integrity, compensation and governance. For example, only independent directors serve on the Audit Committee, Compensation Committee, Compliance Committee, and Governance and Nominating Committee. Independent directors regularly hold executive sessions outside the presence of the Chief Executive Officer and other Company employees. Finally, as detailed below, the Lead Independent Director has many important duties and responsibilities that enhance the independent oversight of management. The Lead Independent Director chairs all meetings of the independent directors and executive sessions of the independent directors and also has other authority and responsibilities, including:

| • | presiding at all meetings of the Board of Directors in the absence of, or upon the request of, the Chairman of the Board; |

| • | advising the Chairman of the Board regarding the agendas for meetings of the Board of Directors and information to be sent to the Board of Directors in connection with such meetings; |

| • | calling meetings of independent directors; |

| • | advising the Chief Executive Officer, as appropriate, on issues discussed at executive sessions of non-management and/or independent directors; |

| • | serving as principal liaison between the Chairman and the independent directors; |

| • | being available, as appropriate, for consultation and direct communication with stockholders; |

| • | having the authority to retain outside