[Form 4] U S PHYSICAL THERAPY INC /NV Insider Trading Activity

Rhea-AI Filing Summary

U.S. Physical Therapy, Inc. (USPH) director reported a purchase of company stock. On 11/20/2025, the reporting person bought 4,000 shares of common stock at a price of $69 per share, coded as a purchase transaction on a Form 4 filing. After this trade, the director beneficially owns 24,786 shares directly.

This total includes 471 restricted shares that were granted under the company’s Amended and Restated 2003 Stock Incentive Plan. These restricted shares will fully vest on March 6, 2026, provided she continues to serve on the Board of Directors through that date.

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
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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^*

Gilmartin Kathleen A

(Last) (First) (Middle)

1300 W SAM HOUSTON PKWY S

SUITE 300

(Street)

HOUSTON TX 77042

(City) (State) (Zip)

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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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

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

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

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
Common Stock	11/20/2025		P		4,000	A	$69	24,786(1)	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 471 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. These shares will fully vest on March 6, 2026 if she remains as a member of the Board of Directors of the Company on that date.

	/s/ Kate Venturina, as attorney-in-fact	11/24/2025
	** 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.

FAQ

What insider transaction did USPH report on this Form 4?

The Form 4 reports that a director of U.S. Physical Therapy, Inc. (USPH) purchased 4,000 shares of common stock on 11/20/2025 at $69 per share.

How many USPH shares does the director own after this transaction?

Following the reported purchase, the director beneficially owns 24,786 shares of USPH common stock in total.

Are any of the USPH shares owned by the director restricted stock?

Yes. The total beneficial ownership of 24,786 shares includes 471 restricted shares granted under the company’s Amended and Restated 2003 Stock Incentive Plan.

When do the restricted USPH shares held by the director vest?

The 471 restricted shares will fully vest on March 6, 2026, if the director remains a member of the Board of Directors on that date.

What was the transaction code used in the USPH Form 4 filing?

The transaction is coded as P, indicating a purchase of common stock.

Is the USPH Form 4 filed for one or multiple reporting persons?

The filing is indicated as a Form filed by One Reporting Person, not a joint filing.