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 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.
UNIVERSAL HEALTH SERVICES INC Executive Vice President & CFO Steve Filton reported a series of compensation-related equity transactions involving Class B Common Stock. On March 12, 2026, he exercised options to acquire 39,200 shares at $138.80 per share and 44,037 shares at $152.68 per share, fully converting these option awards into stock.
To cover exercise price and tax obligations, a total of 71,752 and 6,818 shares of Class B Common Stock were disposed of via tax-withholding transactions, not open-market sales. He also received 16,044 shares as a grant tied to performance-based RSUs that vested after the company met specified performance criteria. Following these transactions, Filton directly holds 139,212 Class B shares and has additional indirect holdings of 80,500 shares in each of two 2020 irrevocable trusts.
Universal Health Services director Elliot J. Sussman exercised stock options and made related share dispositions in March. He exercised options for a total of 2,500 shares of Class B Common Stock at an exercise price of $138.80 per share on March 11 and March 13.
To cover obligations tied to these exercises, 1,826 shares were delivered back to the company as tax-withholding dispositions. Sussman also sold 674 shares of Class B Common Stock in open-market transactions at weighted average prices within ranges of $186.28–$186.365 and $193.35–$193.40, according to the price ranges disclosed.
After these option exercises, tax withholdings and sales, Sussman directly holds 6,113 shares of Universal Health Services Class B Common Stock, and no remaining derivative option position from the reported grants is shown in this filing.
Elliot Sussman reported a proposed sale of Common Stock tied to a stock option exercise. The filing lists 356 shares to be sold on 03/13/2026 through a stock option exercise and sale, routed via Morgan Stanley Smith Barney LLC. The filing also discloses a prior sale of 318 shares on 03/11/2026.
UNIVERSAL HEALTH SERVICES INC Executive Chairman Alan B. Miller exercised stock options and increased his direct Class B holdings. On March 10, 2026, he exercised options for 62,500 Class B shares at $138.80 per share and 70,212 shares at $152.68 per share, acquiring a total of 132,712 Class B shares.
To cover the option exercise price or related tax liability, 114,258 Class B shares were delivered at $189.62 per share under a code F tax-withholding transaction. After these movements, Miller directly holds 1,764,485 Class B shares. Additional Class B shares are held indirectly through various family trusts, GRATs and a foundation, and Miller disclaims beneficial ownership of those securities.
Universal Health Services, Inc. plans to acquire virtual behavioral healthcare provider Talkspace, Inc. for $5.25 per share, implying an enterprise value of approximately $835 million, funded with borrowings under UHS’ existing revolving credit facility.
Talkspace generated $229 million in 2025 revenue and delivered more than 1.6 million therapy and psychiatry sessions, with services available to over 200 million covered individuals. UHS expects the deal to be slightly accretive to adjusted net income per diluted share in the first 12 months after closing and increasingly accretive thereafter. The transaction was unanimously approved by both boards and is expected to close in the third quarter of 2026, subject to Talkspace stockholder approval, regulatory approvals and other customary conditions.
Universal Health Services, Inc. reported strong growth for 2025 and updated investors on a major legal case. Net revenues rose to $17.365 billion in 2025 from $15.828 billion in 2024, while net income attributable to UHS increased to $1.489 billion, or $23.10 per diluted share, up from $16.82.
Fourth-quarter 2025 net revenues were $4.486 billion and net income attributable to UHS was $445.9 million, or $7.06 per diluted share. Adjusted net income for 2025 was $1.401 billion, or $21.74 per diluted share, and Adjusted EBITDA net of NCI reached $2.590 billion.
For 2026, the company forecasts net revenues of $18.417 billion to $18.789 billion, Adjusted EBITDA net of NCI of $2.641 billion to $2.789 billion, and EPS of $22.64 to $24.52. The company also highlighted an October 2025 authorization increase to its stock repurchase program and noted a court order granting a new trial in a Nevada lawsuit where a large punitive verdict had previously been awarded.
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.