Universal Health (NYSE: UHS) chair shifts Class B shares among GRATs
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
UNIVERSAL HEALTH SERVICES INC Executive Chairman Alan B. Miller reported internal transfers and trust distributions of Class B Common Stock with no open-market trading. On May 27, 2026, several grantor retained annuity trusts (GRATs) distributed shares to Miller, while he also transferred shares from his direct holdings into new 2026 GRATs.
Footnotes state that distributions such as 13,963, 9,418 and 14,163 Class B shares from various 2024 and 2025 GRATs left his pecuniary interest unchanged, indicating these were structural movements rather than economic purchases or sales. After the reported J-code transactions, Miller’s direct holdings are shown as 1,810,129 Class B shares, alongside multiple indirect positions in family trusts and foundations, some of which he disclaims beneficial ownership of.
Positive
- None.
Negative
- None.
Insider Trade Summary
23 transactions reported
Mixed
23 txns
Insider
MILLER ALAN B
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class B Common Stock | 13,963 | $0.00 | -- |
| Other | Class B Common Stock | 13,963 | $0.00 | -- |
| Other | Class B Common Stock | 9,418 | $0.00 | -- |
| Other | Class B Common Stock | 9,418 | $0.00 | -- |
| Other | Class B Common Stock | 9,418 | $0.00 | -- |
| Other | Class B Common Stock | 9,418 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 14,163 | $0.00 | -- |
| Other | Class B Common Stock | 50,990 | $0.00 | -- |
| Other | Class B Common Stock | 50,990 | $0.00 | -- |
| Other | Class B Common Stock | 25,495 | $0.00 | -- |
| Other | Class B Common Stock | 25,495 | $0.00 | -- |
| Other | Class B Common Stock | 25,495 | $0.00 | -- |
| Other | Class B Common Stock | 25,495 | $0.00 | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class B Common Stock — 0 shares (Indirect, Marc Daniel Miller 2024 GRAT);
Class B Common Stock — 1,810,129 shares (Direct, null)
Footnotes (1)
- On May 27, 2026, 13,963 Class B shares were distributed to Alan B. Miller from the Marc Daniel Miller 2024 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2024 GRAT. On May 27, 2026, 9,418 Class B shares were distributed to Alan B. Miller from the Abby Miller King 2024 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2024 GRAT. On May 27, 2026, 9,418 Class B shares were distributed to Alan B. Miller from the Marni Spencer 2024 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2024 GRAT. On May 27, 2026, 14,163 Class B shares were distributed to Alan B. Miller from the Marc Daniel Miller 2025 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2025 GRAT. On May 27, 2026, 14,163 Class B shares were distributed to Alan B. Miller from the Abby Miller King 2025 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2025 GRAT. On May 27, 2026, 14,163 Class B shares were distributed to Alan B. Miller from the Marni Spencer 2025 GRAT. Alan B. Miller's pecuniary interest in these shares is unchanged. All distributions hereinbefore described were made pursuant to the terms of the Trust Agreement creating each 2025 GRAT. On May 27, 2026, 50,990 Class B shares were transferred from Alan B. Miller to the Marc Daniel Miller 2026 GRAT. On May 27, 2026, 25,495 Class B shares were transferred from Alan B. Miller to the Abby Miller King 2026 GRAT. On May 27, 2026, 25,495 Class B shares were transferred from Alan B. Miller to the Marni Spencer 2026 GRAT. Mr. Alan B. Miller disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Alan B. Miller is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
Key Figures
Direct Class B holdings: 1,810,129 shares
Transfer to Marc Daniel Miller 2026 GRAT: 50,990 shares
Transfer to Abby Miller King 2026 GRAT: 25,495 shares
+5 more
8 metrics
Direct Class B holdings
1,810,129 shares
Total Class B Common Stock held directly after May 27, 2026 transactions
Transfer to Marc Daniel Miller 2026 GRAT
50,990 shares
Class B shares moved from Alan B. Miller to 2026 GRAT on May 27, 2026
Transfer to Abby Miller King 2026 GRAT
25,495 shares
Class B shares moved from Alan B. Miller to 2026 GRAT on May 27, 2026
Transfer to Marni Spencer 2026 GRAT
25,495 shares
Class B shares moved from Alan B. Miller to 2026 GRAT on May 27, 2026
Distribution from Marc Daniel Miller 2024 GRAT
13,963 shares
Class B shares distributed to Alan B. Miller on May 27, 2026
Distribution from Abby Miller King 2024 GRAT
9,418 shares
Class B shares distributed to Alan B. Miller on May 27, 2026
Distribution from Marni Spencer 2024 GRAT
9,418 shares
Class B shares distributed to Alan B. Miller on May 27, 2026
Restructuring shares total
354,536 shares
Total shares involved in restructuring-type J-code transactions
Key Terms
Class B Common Stock, GRAT, pecuniary interest, beneficial ownership, +1 more
5 terms
Class B Common Stock financial
"On May 27, 2026, 13,963 Class B shares were distributed to Alan B. Miller"
A class B common stock is one of multiple types of a company’s ordinary shares that carries specific rights—often different voting power or dividend priority—compared with other classes. For investors it matters because those differences affect how much influence you have over company decisions, the income you might receive, and how freely the shares trade; think of it like owning a car with different keys: some keys let you start the engine and open the trunk, others only unlock the door.
GRAT financial
"distributed to Alan B. Miller from the Marc Daniel Miller 2024 GRAT"
pecuniary interest financial
"Alan B. Miller's pecuniary interest in these shares is unchanged"
beneficial ownership financial
"Mr. Alan B. Miller disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 regulatory
"beneficial owner of these securities for purposes of Section 16"
Section 16 is a U.S. securities law rule that governs the trading and disclosure obligations of company insiders — typically officers, directors and large shareholders — to promote transparency and deter unfair profit-taking. It requires insiders to publicly report their stock trades and allows companies or the issuer to reclaim quick, short-term profits from certain insider trades, like a scoreboard and a refund policy that help investors see and limit possible insider advantage.
FAQ
What insider activity did UHS Executive Chairman Alan B. Miller report?
Alan B. Miller reported internal transfers and trust distributions of UHS Class B Common Stock on May 27, 2026. These J-code transactions moved shares among his direct holdings and multiple GRATs and family trusts, without any open-market buying or selling activity.
What is the significance of transaction code "J" in this UHS Form 4?
Transaction code "J" denotes "other acquisition or disposition" rather than a standard buy or sell. In this UHS Form 4, J-code entries represent transfers to and from GRATs and related entities, indicating structural ownership changes rather than market-driven trading decisions.