Company: UHS
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049925
Chunk: 67

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 67
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     | $              | — |
| Edward H. Sim       |     |                      |       — |     | $              |          — |     |                     | — |     | $              | — |
| Matthew J. Peterson |     |                      | 161,731 |     | $              |  9,927,967 |     |                     | — |     | $              | — |

| 39                                                   |
| Universal Health Services, Inc. 2025 Proxy Statement |

PENSION BENEFITS

Executive Retirement Income Plan

In October 1993, the Board of Directors adopted the Executive Retirement Income Plan (“ERIP”), which was subsequently closed to new participants effective January 1, 2015. Pursuant to the terms of the ERIP, certain management or other highly compensated employees, who had been previously designated as plan participants by our Board of Directors prior to December 31, 2014, and who had completed at least 10 years of active employment with us, may receive retirement income benefits.

Subject to certain conditions, the monthly benefit is payable to a participant who retires after he or she reaches age 62 (applicable to participants added to the plan before 2008) or age 65 (applicable to participants added to the plan after January 1, 2008). The benefit is equal to 3% of the employee’s average monthly base salary over the three years preceding retirement multiplied by the number of qualified years (not to exceed 10) of the participant’s employment with us.

Upon attaining the qualified age of retirement as stipulated in the plan, subject to certain conditions, payment of ERIP benefits are made to participants in 60 monthly installments following their retirement date. In certain circumstances, the participant may elect to receive the present value of the payments in one lump sum or receive payments over a period of 10 years. If a participant’s employment with us is terminated prior to their qualified age of retirement, no ERIP benefits will be payable unless the Board of Directors, in its full discretion, determines otherwise.

In 2018, upon commencement of the Supplemental Executive Retirement Income Plan (“SERIP”), as discussed below, certain participants of the ERIP, who had not yet approached their qualified age of retirement, were given the option to remain in the ERIP or convert their participation into the SERIP. Please see Supplemental Executive Retirement Income Planbelow for additional disclosure related to participants who elected to convert from the ERIP to the SERIP.

Mr