Is Jason Travis’s recent USPH share disposition a market sale?

No. The 40-share disposition by Jason Travis is described as a surrender of shares to the issuer for tax withholding. This means shares were withheld to pay taxes on vesting stock rather than sold on the open market to other investors.

US Physical Therapy (NYSE: USPH) interim CFO surrenders shares for tax withholding

Q: What insider transaction did USPH interim CFO Jason Travis report?

Jason Travis surrendered 40 USPH shares of common stock to cover tax withholding on vested restricted stock. This was a tax-withholding disposition, not an open-market sale, and reflects routine administration of his equity compensation rather than a discretionary trade.

Q: At what price were the USPH shares used for Jason Travis’s tax withholding valued?

The 40 USPH shares surrendered by Jason Travis for tax withholding were valued at $62.24 per share. This value is used solely to determine the tax obligation on his vesting restricted stock, not as an indication of a market sale price.

Q: How many USPH shares does Jason Travis hold after this Form 4 transaction?

After the tax-withholding disposition, Jason Travis directly holds 3,893 USPH shares . This total includes both unrestricted and restricted stock and represents his remaining equity position reported after satisfying the tax obligations tied to recently vesting awards.

Q: How many restricted USPH shares held by Jason Travis are still subject to vesting?

Jason Travis’s holdings include 3,596 USPH shares subject to vesting restrictions . These shares were granted under the company’s Amended and Restated 2003 Stock Incentive Plan and vest in multiple installments through 2030, contingent on his continued service with the company.

Q: What plan governs Jason Travis’s restricted USPH stock awards?

The restricted USPH shares held by Jason Travis were granted under the company’s Amended and Restated 2003 Stock Incentive Plan. This plan provides equity-based compensation, with his awards vesting in scheduled tranches over several years, subject to his continued employment.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

U.S. Physical Therapy interim CFO Jason Travis surrendered 40 shares of common stock at $62.24 per share to satisfy tax withholding obligations when restricted stock vested.

After this tax-withholding disposition, he directly holds 3,893 shares, including 3,596 restricted shares scheduled to vest over multiple dates through 2030, contingent on continued service.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider CURTIS JASON TRAVIS

Role Interim CFO

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	40	$62.24	$2K

Holdings After Transaction: Common Stock — 3,893 shares (Direct, null)

Footnotes (1)

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting. Includes 3,596 shares of common stock subject to vesting restrictions. The shares were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 171 shares vest on each of August 20, 2026, November 20, 2026, and March 6, 2027; 1,250 shares vest on May 15, 2027; 171 shares vest on each of May 20, 2027, August 20, 2027, November 20, 2027, March 6, 2028, May 20, 2028, August 20, 2028, November 20, 2028, and March 6, 2029; 178 shares vest on May 20, 2029; 93 shares vest on each of August 20, 2029 and November 20, 2029; and 101 shares vest on March 6, 2030. Vesting is contingent upon the reporting person's continued service with the Company through each applicable vesting date.

Key Figures

Shares surrendered for tax: 40 shares Reference share value: $62.24 per share Shares held after transaction: 3,893 shares +1 more

4 metrics

Shares surrendered for tax 40 shares Common stock surrendered to issuer for tax withholding

Reference share value $62.24 per share Value used for tax-withholding disposition

Shares held after transaction 3,893 shares Direct holdings following tax-withholding disposition

Restricted shares outstanding 3,596 shares Common stock subject to vesting restrictions through 2030

Key Terms

tax withholding, restricted stock, vesting restrictions, Stock Incentive Plan

4 terms

tax withholding financial

"surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting"

Tax withholding is the practice of taking a portion of a payment—such as wages, dividends, or sale proceeds—before it reaches the recipient and sending that portion to the tax authority as an advance on the recipient’s eventual tax bill. For investors it matters because withholding reduces immediate cash received and affects after‑tax returns, estimated tax payments, and whether you may owe more or receive a refund when taxes are finally calculated, like having a small automatic savings set aside for your tax bill.

restricted stock financial

"The shares were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

vesting restrictions financial

"Includes 3,596 shares of common stock subject to vesting restrictions."

Stock Incentive Plan financial

"granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan."

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

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Form 4 Insider Transactions: What Each Field Means →

06/22/2026 - 05:01 PM

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^*

CURTIS JASON TRAVIS

(Last)

(First)

(Middle)

1300 W SAM HOUSTON PKWAY S, SUITE 300

(Street)

HOUSTON

TEXAS

77042

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
U S PHYSICAL THERAPY INC /NV [ USPH ]

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

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Interim CFO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/20/2026		F		40⁽¹⁾	D	$62.24	3,893⁽²⁾	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

2. Includes 3,596 shares of common stock subject to vesting restrictions. The shares were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 171 shares vest on each of August 20, 2026, November 20, 2026, and March 6, 2027; 1,250 shares vest on May 15, 2027; 171 shares vest on each of May 20, 2027, August 20, 2027, November 20, 2027, March 6, 2028, May 20, 2028, August 20, 2028, November 20, 2028, and March 6, 2029; 178 shares vest on May 20, 2029; 93 shares vest on each of August 20, 2029 and November 20, 2029; and 101 shares vest on March 6, 2030. Vesting is contingent upon the reporting person's continued service with the Company through each applicable vesting date.

Remarks:

This Form 4 is being filed late due to inadvertent administrative error.

	/s/ Kate Venturina, as attorney-in-fact	06/22/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did USPH interim CFO Jason Travis report?

Jason Travis surrendered 40 USPH shares of common stock to cover tax withholding on vested restricted stock. This was a tax-withholding disposition, not an open-market sale, and reflects routine administration of his equity compensation rather than a discretionary trade.

At what price were the USPH shares used for Jason Travis’s tax withholding valued?

The 40 USPH shares surrendered by Jason Travis for tax withholding were valued at $62.24 per share. This value is used solely to determine the tax obligation on his vesting restricted stock, not as an indication of a market sale price.

How many USPH shares does Jason Travis hold after this Form 4 transaction?

After the tax-withholding disposition, Jason Travis directly holds 3,893 USPH shares. This total includes both unrestricted and restricted stock and represents his remaining equity position reported after satisfying the tax obligations tied to recently vesting awards.

How many restricted USPH shares held by Jason Travis are still subject to vesting?

Jason Travis’s holdings include 3,596 USPH shares subject to vesting restrictions. These shares were granted under the company’s Amended and Restated 2003 Stock Incentive Plan and vest in multiple installments through 2030, contingent on his continued service with the company.

What plan governs Jason Travis’s restricted USPH stock awards?

The restricted USPH shares held by Jason Travis were granted under the company’s Amended and Restated 2003 Stock Incentive Plan. This plan provides equity-based compensation, with his awards vesting in scheduled tranches over several years, subject to his continued employment.