[Form 4] UNIVERSAL HEALTH SERVICES INC Insider Trading Activity

Rhea-AI Filing Summary

Universal Health Services President and CEO Marc D. Miller reported several equity compensation moves. He exercised options to acquire a total of 100,425 shares of Class B Common Stock at exercise prices of $138.80 and $152.68 per share, converting expiring options into stock. He also received 63,036 shares through the vesting of performance-based RSUs that vested after the company met specified performance criteria.

To cover exercise and tax obligations, 86,045 and 24,805 shares were disposed of as tax-withholding transactions, not open-market sales. After these transactions, Miller directly holds 363,907 Class B shares and additional shares are held indirectly through family trusts, including 49,294 shares in The Abby Danielle Miller 2002 Trust.

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
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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^*

Miller Marc D

(Last) (First) (Middle)

UNIVERSAL HEALTH SERVICES, INC.

367 SOUTH GULPH ROAD

(Street)

KING OF PRUSSIA PA 19406

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNIVERSAL HEALTH SERVICES INC [ UHS ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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
Class B Common Stock	03/12/2026		M		50,000	A	$138.8	361,296	D
Class B Common Stock	03/12/2026		M		50,425	A	$152.68	411,721	D
Class B Common Stock	03/12/2026		F		86,045	D	$190.825	325,676	D
Class B Common Stock	03/12/2026		A(1)		63,036	A	$0	388,712	D
Class B Common Stock	03/12/2026		F		24,805	D	$190.49	363,907	D
Class B Common Stock								49,294	I	The Abby Danielle Miller 2002 Trust
Class B Common Stock								55,763	I	The Abby Miller King 2011 Family Trust
Class B Common Stock								36,988	I	The Marc Daniel Miller 2002 Trust
Class B Common Stock								59,900	I	The Marc Daniel Miller 2011 Family Trust
Class B Common Stock								69,726	I	The Marni Spencer 2002 Trust
Class B Common Stock								55,763	I	The Marni Spencer 2011 Family Trust

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
Option To Purchase Class B Common Stock	$138.8	03/12/2026		M			50,000	(2)	03/16/2026	Class B Common Stock	50,000	$0	0	D
Option To Purchase Class B Common Stock	$152.68	03/12/2026		M			50,425	(2)	03/16/2026	Class B Common Stock	50,425	$0	0	D

Explanation of Responses:

1. Represents shares of Class B Common Stock issued upon the vesting of the performance-based restricted stock units ("RSUs") awarded to the Reporting Person on March 15, 2023, which vested based on the Issuer's satisfaction of certain performance criteria. In light of the performance-based vesting criteria of the RSUs, such shares were not previously reportable under Section 16.

2. Option vested ratably on each of 3/17/2022, 3/17/2023, 3/17/2024 and 3/17/2025.

	/s/ Steve Filton, Attorney in Fact for Marc D. Miller	03/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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