Company: UHS
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049925
Chunk: 76

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 76
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 fair values of these awards were included in the Summary Compensation Table in the year of original grant.

Represents the intrinsic value of the accelerated performance based restricted stock units as well as time-based restricted stock units based upon the closing price per share of the Class B Common Stock on the NYSE on December 31, 2024 of $179.42 per share. The full grant date fair values of these awards were included in the Summary Compensation Table in the year of original grant.

Marc D. Miller Employment Agreement:

On March 19, 2025 our management subsidiary entered into an employment agreement with Marc D. Miller guaranteed by the Company (“MDM Employment Agreement”) which provides for the employment of Mr. Marc Miller as Chief Executive Officer (“CEO”) for an initial term ending on January 1, 2028, subject to earlier termination in accordance with its terms, and subject to automatic annual renewal for additional one-year periods unless either party elects to terminate the terms of Mr. Marc Miller’s employment at the end of the initial term or at the end of the renewal term by giving one year’s advance written notice of such termination. At all times during the term of employment, Mr. Marc Miller shall be nominated to serve as a member of the Board of Directors. This MDM Employment Agreement is substantially the same (other than the extension of the initial term) as, and supersedes Marc D. Miller’s previous amended and restated employment agreement with the Company dated as January 1, 2021.

In general, Mr. Marc Miller’s long-term stock-based incentives awards granted during or before employment as CEO will become fully vested upon termination of his employment as CEO at the time such employment ends, other than by us for “cause” or voluntarily by Mr. Marc Miller before or at the end of the applicable term (under circumstances not involving a breach of the MDM Employment Agreement by us).

If Mr. Marc Miller’s employment is terminated for “cause”, as defined in the MDM Employment Agreement, he will be entitled to any benefits payable to or earned by Mr. Marc Miller with respect to any period of his employment or other service prior to the date of such discharge. If Mr. Marc Miller’s employment is terminated due to his disability, Mr. Marc Miller shall be paid a pro rata portion of the annual bonus which would otherwise have been payable for the year in which his employment terminates, plus an amount equal to one-half of Mr. Marc Miller’s base salary, payable in twelve equal monthly installments.

If