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Select Medical SEC Filings

SEM NYSE

Welcome to our dedicated page for Select Medical SEC filings (Ticker: SEM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.

The Select Medical Holdings Corporation (NYSE: SEM) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. As a public company operating critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics across many U.S. states, Select Medical uses its SEC filings to report financial results, corporate actions, governance changes, and material events affecting its three reportable segments.

Current and periodic reports. Investors can review Select Medical’s current reports on Form 8-K, which the company uses to announce items such as quarterly and annual financial results, cash dividend declarations, updates to its common stock repurchase program, and significant financing transactions. Recent 8-K filings describe earnings releases for multiple quarters, dividend declarations, amendments to the company’s credit agreement, and the issuance of senior notes used together with term loan proceeds and cash on hand to redeem prior notes and repay existing term loans.

Other 8-K filings detail governance and organizational changes, including the appointment of a new chief executive officer, related board role changes, and an employment agreement with the chief executive officer. The company has also filed an 8-K describing amendments and restatements of its bylaws to address procedural and disclosure requirements for stockholder nominations and proposals in light of universal proxy rules. Another 8-K furnishes a press release acknowledging a non-binding indication of interest from the Executive Chairman, Co-Founder and Director to acquire all outstanding shares of Select Medical for cash consideration within a stated range per share.

Annual and quarterly reporting. While not reproduced in full here, Select Medical’s Form 10-K annual reports and Form 10-Q quarterly reports provide detailed financial statements, segment information for its critical illness recovery hospital, rehabilitation hospital, and outpatient rehabilitation segments, and risk factor discussions. These filings expand on topics referenced in press releases, such as reimbursement risk, labor availability, Medicare certification requirements, competition, and technology and cybersecurity considerations.

Using Stock Titan’s tools. On Stock Titan, Select Medical’s SEC filings are updated in near real time as new documents are posted to EDGAR. AI-powered summaries help explain the key points of lengthy filings, including how segment results relate to the company’s post-acute care operations and what specific corporate or financing actions mean for the capital structure. Users can quickly scan 10-K and 10-Q disclosures, 8-K current reports, and exhibits such as amended bylaws or employment agreements to understand how Select Medical’s regulatory reporting reflects developments in its hospital and outpatient rehabilitation businesses.

Rhea-AI Summary

Select Medical Holdings Corp. received a refined non-binding proposal to go private at $16.00 per share in cash from a group led by co-founder and Executive Chairman Robert A. Ortenzio. The proposal would acquire all outstanding shares not already owned by the reporting persons and remains subject to negotiation, Special Committee approval, regulatory clearances and other conditions.

Based on 124,017,191 shares outstanding as of February 1, 2026, Mr. Ortenzio may be deemed to beneficially own 14,019,735 shares (11.3%), Martin F. Jackson 1,383,421 shares (1.1%), and the Estate of Rocco A. Ortenzio 4,085,550 shares (3.3%). The amendment also clarifies how these holdings are split among trusts, foundations and family entities and confirms no transactions occurred in the past 60 days.

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Select Medical Holdings Corporation is soliciting proxies for its 2026 Annual Meeting to be held virtually on April 23, 2026. The meeting asks shareholders to elect three Class II directors, vote on executive compensation, ratify PricewaterhouseCoopers LLP as auditor, and approve a Declassification Proposal to phase out the Board’s classified structure.

The record date is February 27, 2026; there were 124,018,300 shares outstanding on that date. The Board recommends FOR the director nominees, the executive compensation advisory vote, auditor ratification, the 25% special-meeting threshold proposal, and AGAINST the stockholder 10% special-meeting threshold proposal. Voting instructions and proxy access details are provided online.

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Select Medical Holdings Corporation files its Form 10-K describing a nationwide post-acute care platform that generated $5,452.8 million of revenue in the year ended December 31, 2025. The company operates 104 critical illness recovery hospitals, 38 rehabilitation hospitals, and 1,917 outpatient rehabilitation clinics across 39 states and the District of Columbia.

In November 2024, Select completed a tax-free spin-off of Concentra, whose results are now shown as discontinued operations. In November 2025, Executive Chairman and Co-Founder Robert A. Ortenzio submitted a non-binding indication of interest to acquire all outstanding shares for $16.00 to $16.20 per share in cash, and a special board committee is reviewing this proposal alongside other strategic alternatives. The business is heavily exposed to government and commercial reimbursement, with 2025 revenue by payor of approximately 28.6% Medicare and 51.6% commercial insurance, and relies on about 45,300 employees and strong clinical quality programs to compete in a highly regulated, labor-constrained healthcare market.

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Select Medical Holdings Corporation reported stronger 2025 results and outlined its 2026 outlook. For 2025, revenue rose 5.1% to $5,452.8 million and income from continuing operations, net of tax, increased 65.0% to $214.5 million. Earnings per common share from continuing operations climbed to $1.16 from $0.51, while adjusted EPS from continuing operations rose to $1.16 from $0.94, reflecting improved profitability after prior-year one-time charges.

Fourth-quarter revenue grew 6.4% to $1,396.6 million, with income from continuing operations, net of tax, improving to $37.7 million versus a loss a year earlier, though Adjusted EBITDA declined to $104.7 million. The rehabilitation hospital segment delivered double-digit revenue and Adjusted EBITDA growth, while outpatient rehabilitation margins compressed. The board declared a cash dividend of $0.0625 per share, payable around March 12, 2026, and has authorized a common stock repurchase program of up to $1.0 billion through December 31, 2027. In 2025 the company repurchased 6,375,512 shares for about $96.5 million.

For 2026, Select Medical expects revenue between $5.6 billion and $5.8 billion, Adjusted EBITDA between $520.0 million and $540.0 million, and fully diluted EPS between $1.22 and $1.32, indicating anticipated continued growth from its critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics.

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Select Medical Holdings Corporation director William H. Frist reported receiving a grant of restricted common stock as part of his board compensation. On 02/11/2026, he acquired 1,109 shares at $16.23 per share under the company’s 2020 Equity Incentive Plan, issued in lieu of a quarterly cash retainer of $18,000. Following this award, he beneficially owned 305,172 shares of Select Medical common stock, held directly.

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Select Medical Holdings Corporation reported insider share ownership for an executive vice president. The reporting person beneficially owns 135,084 shares of common stock. This total includes several grants of restricted stock that vest over time, meaning some shares are still subject to service or other conditions.

The holdings include 15,000 restricted shares granted on November 1, 2022 that, after a special vesting of one-third on November 5, 2024, are scheduled to fully vest on November 1, 2026. Another 15,000 restricted shares were granted on November 1, 2023 on similar terms, with full vesting expected on November 1, 2027. A further 50,000 restricted shares granted on April 30, 2024 are scheduled to fully vest on April 30, 2028 following the same partial vesting date. An additional 50,000 restricted shares granted on October 28, 2025 are expected to fully vest on October 28, 2029.

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Select Medical Holdings Corporation reported that its subsidiary, Select Medical Corporation, has entered into a new employment agreement with its Chief Executive Officer, Thomas P. Mullin, effective January 1, 2026. Under this agreement, Mr. Mullin will continue as CEO for an initial one-year term, with automatic one-year renewals unless either party ends the arrangement under the contract terms.

Mr. Mullin will receive a base salary of $700,000 per year. If Select terminates his employment for reasons other than cause, death, or disability, he is entitled to a severance payment equal to twelve months of base salary, paid over the year following termination, subject to an existing change of control letter. The agreement also includes non-competition and non-solicitation restrictions during employment and for two years after it ends. The company states there are no disclosable family relationships or related-party transactions involving Mr. Mullin.

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Select Medical Holdings Corporation reported that it issued a press release on November 24, 2025 addressing a non-binding indication of interest submitted to its Board of Directors by Executive Chairman, Co-Founder and Director Robert A. Ortenzio. The indication of interest relates to a potential take-private transaction and was also publicly disclosed in a Schedule 13D filed by Mr. Ortenzio, the Estate of Rocco A. Ortenzio and Mr. Jackson as a group on the same date.

The company furnished the press release as Exhibit 99.1 to this Form 8-K under a Regulation FD disclosure item, noting that this information is being provided for informational purposes and is not deemed filed for liability purposes under the Exchange Act.

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Rhea-AI Summary

Select Medical Holdings (SEM) insiders have filed a Schedule 13D detailing a non-binding cash proposal to acquire all outstanding common shares they do not already own at $16.00 to $16.20 per share. The proposal, led by co-founder and Executive Chairman Robert A. Ortenzio, is subject to customary due diligence, Board approval, definitive documentation and regulatory clearances, and may be terminated at any time.

Based on 123,817,591 shares outstanding as of September 30, 2025, Mr. Ortenzio may be deemed to beneficially own 14,019,735 shares, or 11.3% of the company. Senior Executive Vice President Martin F. Jackson beneficially owns 1,383,421 shares, or 1.1%, and the Estate of co-founder Rocco A. Ortenzio beneficially owns 4,085,550 shares, or 3.3%. Much of this ownership is held through various family trusts and foundations, aligning the reporting persons as a significant shareholder group in any potential transaction.

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Select Medical Holdings (SEM): Executive Vice President John F. Duggan reported a Form 4 transaction on 11/01/2025. He surrendered 4,865 shares of common stock at $13.83 under code F to satisfy tax withholding related to the vesting of restricted stock.

Following this administrative withholding, he directly owns 194,710 shares. This filing reflects a tax-related share withholding rather than an open-market sale.

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FAQ

What is the current stock price of Select Medical (SEM)?

The current stock price of Select Medical (SEM) is $14.97 as of February 27, 2026.

What is the market cap of Select Medical (SEM)?

The market cap of Select Medical (SEM) is approximately 1.8B.

SEM Rankings

SEM Stock Data

1.85B
103.75M
Medical Care Facilities
Services-hospitals
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United States
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