Company: UHS
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000950170-25-049925
Chunk: 62

Company: UNIVERSAL HEALTH SERVICES INC
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 62
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 range of pre-established thresholds.

Performance-based RSUs issued on March 21, 2024 were issued under our 2020 Omnibus Stock and Incentive Plan. In 2024, our CEO and other NEOs, each received 100% of their annual target stock-based compensation awards in the form of performance-based RSUs and time-based restricted stock units.

Restricted shares of Class B Common Stock issued under the Company’s 2020 Omnibus Stock and Incentive Plan.

There were no stock option awards issued during 2024 to our CEO and other NEOs.

Represents the aggregate full grant date fair value for the performance-based RSUs and time-based RSUs, based upon the closing market price on the date of grant.

Represents the aggregate of the maximum performance-based RSU value if the maximum award is achieved and the grant date fair value of the time-based RSUs granted on March 21, 2024.

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| Universal Health Services, Inc. 2025 Proxy Statement |

Marc D. Miller’s Employment Agreement as Chief Executive Officer

Mr. Marc D. Miller was appointed Chief Executive Officer (“CEO”) and President effective January 1, 2021. He has served as President since May, 2009 and prior thereto served as Senior Vice President and co-head of our Acute Care Hospitals since 2007.

Certain elements of Mr. Marc D. Miller’s compensation for 2021 were determined by the terms of his employment agreement that was entered into on December 23, 2020, with an effective date of January 1, 2021. On March 23, 2022, we entered into an amendment to the employment agreement with Mr. Marc D. Miller which increased his annual bonus opportunity and annual base salary, as discussed below. On March 19, 2025, the employment agreement was terminated and replaced with an Agreement with UHS of Delaware, a wholly owned subsidiary of the Company and, the employer of record for the Company’s management employees. The obligations of UHS of Delaware under the Agreement, other than as set forth herein, are substantially the same as the terminated employment agreement, and are guaranteed by the Company. Pursuant to the terms of the employment agreement, Mr. Marc D. Miller will serve as CEO of the Company with a term scheduled to end on January 1, 2028, subject, however, to earlier termination, and subject further to automatic renewal for additional one-year periods unless either party elects