Universal Health Services, Inc. filings document the financial results, governance practices and capital structure of a healthcare-services company operating acute care hospitals, behavioral health facilities, outpatient facilities and ambulatory care access points through subsidiaries. Form 8-K reports include operating and financial results, material agreements, credit-facility disclosures and other corporate events.
UHS proxy materials cover shareholder voting matters, board oversight, executive compensation and incentive-plan arrangements. The company’s regulatory disclosures also address risk factors, legal proceedings, ownership and governance matters, and capital actions such as share repurchases, dividends and financing arrangements.
Universal Health Services, Inc. outlines its 2025 operations as a large hospital and behavioral health operator with 375 inpatient facilities and 168 outpatient and other facilities across 40 U.S. states, Washington, D.C., the U.K. and Puerto Rico.
Acute care hospitals and related outpatient facilities generated about 57% of consolidated net revenues in 2025 and 2024, while behavioral health facilities contributed about 43%, including U.K. behavioral health revenues of approximately $1.001 billion in 2025. The company highlights heavy exposure to Texas, Nevada and California, significant dependence on Medicare, Medicaid and other governmental payers, and extensive regulatory oversight in both the U.S. and U.K.
UHS also describes its long‑standing advisory and leasing relationship with Universal Health Realty Income Trust, a strong compliance and ethics program, and detailed human capital initiatives for its roughly 101,500 employees. The risk section emphasizes reimbursement pressure, policy changes such as the One Big Beautiful Budget Act, competition for patients and physicians, climate and weather risks, and potential impacts from pending physician group changes in Washington, D.C.
Universal Health Services, Inc. approved an amended and restated employment agreement for its Chief Executive Officer and President, Marc D. Miller. Under the new agreement, he will serve as CEO through a term scheduled to end on January 1, 2029, with automatic one-year renewals unless either party opts out.
Beginning in 2026, Mr. Miller’s base salary as CEO will be $1,575,000, a 5% increase over his 2025 base salary, and he will have an annual bonus target equal to 150% of his salary, subject to performance-based adjustment. He remains eligible for long-term incentive plan awards and a range of executive benefits, including insurance coverage, a company automobile, and personal use of fractionally owned aircraft.
The agreement details treatment of bonuses and vesting of long-term stock-based awards upon termination in various scenarios, including disability, death, termination for cause, and termination without cause or for specified breaches. In certain termination situations, he may continue to receive his cash compensation, long-term equity incentives, and other benefits for the remainder of the term, with vesting of awards accelerating, subject to conditions such as a general release.
Form 144 notice: A proposed sale of 3,817 shares of common stock is disclosed. The filing lists an aggregate market value of $852,342.97 and names Morgan Stanley Smith Barney LLC Executive Financial Services as broker. The approximate sale date is 11/11/2025 on the NYSE.
The shares were acquired on 11/11/2025 via a stock option exercise from the issuer, paid in cash on the same date. Shares outstanding were 6,574,600 as shown in the table; this is a baseline figure, not the amount being sold.
Universal Health Services (UHS): Director stock activity reported. On 11/11/2025, a UHS director exercised options for 10,000 Class B shares at $138.8 per share (code M). The filing shows subsequent dispositions: 6,183 shares (code F) at $224.49, sales of 3,675 shares at a weighted average price of $223.2766 (code S; multiple trades between $222.92–$223.91), and 142 shares at a weighted average price of $223.9563 (code S; trades between $223.93–$223.99).
Following these transactions, the director directly owned 8,481 Class B shares. The option covering 10,000 shares (expiring 03/16/2026) now has 0 derivative securities remaining after exercise.
Universal Health Services (UHS) reported stronger third‑quarter results. Net revenues were $4,495,245,000, up from $3,963,027,000 a year ago. Income from operations rose to $521,688,000 from $384,165,000. Net income attributable to UHS increased to $372,957,000, and diluted EPS was $5.86 versus $3.80 last year, reflecting improved operating performance across the business.
For the first nine months of 2025, net revenues reached $12,878,781,000 and diluted EPS was $16.07. The balance sheet showed total assets of $15,343,924,000, cash and cash equivalents of $112,895,000, and total debt carrying value of about $4.7 billion. Near‑term liquidity includes a revolving credit facility with approximately $965 million of available capacity as of September 30, 2025. Current maturities of long‑term debt were $740,186,000, highlighting upcoming obligations. Operating cash flow for the nine months was $1,289,704,000, funding $733,932,000 of capital additions and $615,941,000 of share repurchases.
Universal Health Services (UHS) reported an insider equity transaction by Executive Vice President Matthew J. Peterson. On 10/29/2025, he exercised options for 8,425 Class B shares at $138.8 and 9,465 shares at $152.68 (transaction code M), converting derivatives into common stock.
To satisfy tax obligations, 14,312 shares were withheld at $225.15 (code F). Following these transactions, he directly owned 19,957.5817 Class B shares. The options exercised had vested ratably on 3/17/2022, 3/17/2023, 3/17/2024, and 3/17/2025, and 0 derivative securities remained after the transactions. Holdings include 583.5817 shares acquired through the company’s 2005 Employee Stock Purchase Plan.
Universal Health Services (UHS) director Elliot J. Sussman, M.D., reported insider transactions. On 10/29/2025, he exercised 2,500 options at $138.80 per share (code M), satisfied taxes through the withholding of 1,535 shares at $226.15 (code F), and sold 965 shares at a weighted average price of $225.6981 (code S).
Following these transactions, his directly held Class B common shares were 6,113. The sale price reflects multiple trades between $225.38 and $225.80 as disclosed.
Universal Health Services (UHS) reported insider transactions by President and CEO Marc D. Miller. On 10/29/2025, he exercised options for 75,000 Class B shares at $138.8 and 90,000 Class B shares at $152.68 (code M). Shares totaling 131,758 were withheld to cover taxes at $225.3 (code F).
After these transactions, Miller directly owned 311,296 Class B shares. He also reported indirect holdings through several family trusts, including stakes in the Abby Danielle Miller 2002 Trust, Abby Miller King 2011 Family Trust, Marc Daniel Miller 2002 and 2011 Family Trusts, and Marni Spencer 2002 and 2011 Family Trusts.
Universal Health Services (UHS) reported insider activity by Executive Chairman, Director and 10% Owner Alan B. Miller. On 10/29/2025, he exercised options (code M) to acquire 70,213 Class B shares at $152.68 and 62,500 Class B shares at $138.8. He also disposed of 105,519 Class B shares (code F) at $227.04.
Following these transactions, Miller directly owned 1,746,031 Class B shares. The filing also lists indirect holdings across several entities, including 55,763 shares by The Abby Miller King 2011 Family Trust and 59,900 shares by The Marc Daniel Miller 2011 Family Trust. The options referenced carry an expiration date of 03/16/2026. The report notes a disclaimer of beneficial ownership for certain indirect holdings.
Universal Health Services (UHS) filed a Form 144 notice for a proposed sale of up to 965 shares of common stock with an aggregate market value of $217,798.67. The filing lists Morgan Stanley Smith Barney LLC as broker and the NYSE as the exchange, with an approximate sale date of 10/29/2025.
The securities were acquired via a stock option exercise paid in cash on 10/29/2025. Shares outstanding were 63,638,690.