PACS Group (PACS) CEO reports 241,018 new RSU awards

Rhea-AI Filing Summary

PACS Group, Inc. reported an insider equity award for its Co-Founder, CEO, Chairman and director, who is also a 10% owner. On December 17, 2025, the reporting person acquired 200,000 shares of common stock through restricted stock units and an additional 41,018 restricted stock units, both at a price of $0 per share.

The 200,000 RSUs vest in substantially equal annual installments on the first, second and third anniversaries of January 15, 2025, while the 41,018 RSUs vest in substantially equal annual installments on the first, second and third anniversaries of November 25, 2025, in each case subject to continued service. Following these transactions, the reporting person beneficially owns 54,867,217 shares of PACS Group common stock directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Murray Jason Hulse

(Last) (First) (Middle)

C/O PACS GROUP, INC.

90 S. 400 W. SUITE 700

(Street)

SALT LAKE CITY UT 84101

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PACS Group, Inc. [ PACS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Founder, CEO & Chairman

3. Date of Earliest Transaction (Month/Day/Year)
12/17/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/17/2025		A		200,000(1)	A	$0	54,826,199	D
Common Stock	12/17/2025		A		41,018(2)	A	$0	54,867,217	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units ("RSUs") for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. The RSUs will vest in substantially equal annual installments on the first, second, and third anniversaries of January 15, 2025, subject to the Reporting Person's continued service through the applicable vesting date.

2. Represents RSUs for which the Reporting Person is entitled to receive one (1) share of Common Stock for each RSU upon vesting. The RSUs will vest in substantially equal annual installments on the first, second, and third anniversaries of November 25, 2025, subject to the Reporting Person's continued service through the applicable vesting date.

Remarks:

	/s/ John Mitchell, Attorney-in-Fact	12/19/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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FAQ

What insider transaction did PACS Group (PACS) report in this Form 4?

The filing reports that the Co-Founder, CEO, Chairman and director of PACS Group, Inc. acquired 200,000 common shares and 41,018 restricted stock units on December 17, 2025 at a price of $0 per share.

How many PACS Group shares does the reporting person own after this transaction?

After the reported equity awards, the insider beneficially owns 54,867,217 shares of PACS Group common stock directly.

What are the vesting terms of the 200,000 PACS Group RSUs granted on December 17, 2025?

The 200,000 restricted stock units vest in substantially equal annual installments on the first, second and third anniversaries of January 15, 2025, subject to the insider’s continued service.

What are the vesting terms of the 41,018 PACS Group RSUs reported in this filing?

The 41,018 restricted stock units vest in substantially equal annual installments on the first, second and third anniversaries of November 25, 2025, subject to continued service.

What is the role of the reporting person at PACS Group (PACS)?

The reporting person is a director, a 10% owner, and serves as Co-Founder, CEO & Chairman of PACS Group, Inc..

Did the PACS Group insider pay cash for the RSUs reported?

No cash price was paid for these awards; the Form 4 shows the acquisitions of the 200,000 shares and 41,018 RSUs at a price of $0 per share.