Universal Health Services (UHS) chair uses 2,576 shares to cover tax obligations

Rhea-AI Filing Summary

Universal Health Services Executive Chairman Alan B. Miller reported routine tax-related share dispositions, not open-market sales. On March 21, 2026, 1,177 shares of Class B Common Stock were delivered at $185.82 per share to cover tax obligations. On March 19, 2026, an additional 1,399 shares were delivered at $189.58 per share for the same purpose, totaling 2,576 shares. After these transactions, he directly holds 1,782,013 Class B shares. The filing also lists indirect Class B holdings through various family trusts, foundations and GRATs, and notes that Miller disclaims beneficial ownership of those securities.

Insights

Equity compensation analyst

Filing shows small, routine tax-withholding share dispositions with no clear trading signal.

The transactions involve code F events, where Class B shares are delivered to satisfy tax obligations tied to equity awards. A total of 2,576 shares were used for tax withholding at prices between $185.82 and $189.58.

These are not open-market sales and do not reflect discretionary buying or selling decisions. Following the dispositions, Alan B. Miller directly holds 1,782,013 Class B shares, and the filing lists additional indirect holdings through family trusts and foundations, subject to a disclaimer of beneficial ownership.

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^*

MILLER ALAN B

(Last) (First) (Middle)

UNIVERSAL HEALTH SERVICES, INC.

(Street)

KING OF PRUSSIA PENNSYLVANIA 19406

(City) (State) (Zip)

UNITED STATES

(Country)

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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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

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

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

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	03/19/2026		F		1,399	D	$189.58	1,783,190	D
Class B Common Stock	03/21/2026		F		1,177	D	$185.82	1,782,013	D
Class B Common Stock								55,763	I	By The Abby Miller King 2011 Family Trust
Class B Common Stock								8,623	I	The Alan and Jill Miller Foundation(1)
Class B Common Stock								59,900	I	The Marc Daniel Miller 2011 Family Trust
Class B Common Stock								55,763	I	The Marni Spencer 2011 Family Trust
Class B Common Stock								9,418	I	Abby Miller King 2024 GRAT
Class B Common Stock								24,295	I	Abby Miller King 2025 GRAT
Class B Common Stock								13,963	I	Marc Daniel Miller 2024 GRAT
Class B Common Stock								24,295	I	Marc Daniel Miller 2025 GRAT
Class B Common Stock								9,418	I	Marni Spencer 2024 GRAT
Class B Common Stock								24,295	I	Marni Spencer 2025 GRAT

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. 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.

	/s/ Steve Filton, Attorney-in-Fact for Alan B. Miller	03/23/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did UHS Executive Chairman Alan B. Miller report in this Form 4?

Alan B. Miller reported two tax-withholding dispositions of Class B Common Stock, using 1,177 shares at $185.82 and 1,399 shares at $189.58 per share. These code F transactions satisfied tax obligations tied to equity compensation rather than open-market sales.

How many Universal Health Services (UHS) shares were used for tax withholding?

A total of 2,576 Class B Common shares were delivered for tax withholding. The filing shows 1,177 shares at $185.82 per share and 1,399 shares at $189.58 per share, classified as payment of exercise price or tax liability by delivering securities.

How many UHS Class B shares does Alan B. Miller hold after these transactions?

After the reported tax-withholding dispositions, Alan B. Miller directly holds 1,782,013 shares of UHS Class B Common Stock. The Form 4 also lists additional indirect Class B holdings through various family trusts, foundations and GRATs, separate from his direct ownership position.

Are the reported UHS insider transactions open-market sales or routine tax events?

The transactions are routine tax events, not open-market sales. Both are coded F, described as payment of exercise price or tax liability by delivering securities, indicating shares were surrendered to meet tax obligations associated with equity awards.

What indirect UHS holdings related to Alan B. Miller are disclosed in this Form 4?

The filing lists indirect Class B holdings through entities such as The Abby Miller King 2011 Family Trust, The Alan and Jill Miller Foundation and multiple 2011 Family Trusts and GRATs, each with specific share counts, in addition to Miller’s directly held shares.

Does Alan B. Miller claim beneficial ownership of all indirect UHS securities listed?

No. A footnote states that Alan B. Miller disclaims beneficial ownership of the listed securities. It also notes that the report should not be deemed an admission that he is the beneficial owner for Section 16 or any other purpose.