[Form 4] SELECT MEDICAL HOLDINGS CORP Insider Trading Activity

Rhea-AI Filing Summary

Simulations Plus, Inc. (SLP) – Form 4 insider filing

Director Lisa LaVange disclosed two transactions on 08/01/2025:

• Equity grant: 2,074 common shares awarded under the 2021 Equity Incentive Plan at a deemed price of $0, lifting her stake to 10,797 shares.
• Rule 10b5-1 sale: 867 common shares sold at $12.93 per share in a single automatic trade, trimming direct ownership to 9,930 shares.

No derivative securities were involved, and the filing was executed by attorney-in-fact Daniel Hoeft on 08/04/2025.

Positive

• Director received 2,074 shares as equity compensation, modestly increasing alignment with shareholder interests.

Negative

• Director disposed of 867 shares at $12.93, reducing her direct stake to 9,930 shares.

Insights

Securities Analyst

TL;DR: Minor director sale offset by stock grant; negligible net ownership change—impact appears neutral.

The filing shows Ms. LaVange received 2,074 shares as routine board compensation and subsequently sold 867 shares at $12.93 via a pre-set Rule 10b5-1 plan. Post-trade direct holdings stand at 9,930 shares, down only 8% from the intra-day peak of 10,797. No derivatives or unusual activity are reported. Given the modest size relative to her total stake and lack of material information about company operations, the market impact should be limited.

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

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Mullin Thomas P

(Last) (First) (Middle)

C/O SELECT MEDICAL CORPORATION

4714 GETTYSBURG ROAD P.O. BOX 2034

(Street)

MECHANICSBURG PA 17055

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
SELECT MEDICAL HOLDINGS CORP [ SEM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CO-PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		F(1)		22,045	D	$12.57	391,709	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. Surrender of shares to satisfy tax withholding obligation incident to vesting of restricted stock.

	/s/ Michael E. Tarvin, Attorney-in-Fact	08/04/2025
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Simulations Plus (SLP) shares did Director Lisa LaVange receive?

She was granted 2,074 common shares under the 2021 Equity Incentive Plan.

What price did LaVange sell her SLP shares for?

The 867 shares were sold in a single transaction at $12.93 per share.

How many SLP shares does LaVange own after the transactions?

Her direct beneficial ownership stands at 9,930 common shares.

Were the sales made under a Rule 10b5-1 trading plan?

Yes. The filing states the sale was automatically executed pursuant to a Rule 10b5-1 plan.

Did the Form 4 report any derivative securities for SLP?

No. No derivative securities were reported in this filing.