Graham D. Reeve - 23 Feb 2026 Form 4 Insider Report for U S PHYSICAL THERAPY INC /NV (USPH)

Role: COO
Signature: /s/ Kate Venturina, as attorney-in-fact
Issuer symbol: USPH
Transactions as of: 23 Feb 2026
Net transactions value: $0
Form type: 4
Filing time: 25 Feb 2026, 20:42:51 UTC
Previous filing: 25 Nov 2025
Next filing: 11 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
REEVE GRAHAM D.	COO	1300 W SAM HOUSTON PKWY S, SUITE 300, HOUSTON	/s/ Kate Venturina, as attorney-in-fact	25 Feb 2026	0001519948

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	USPH	Common Stock	Award	$0	+10,000	+48%	$0.000000	30,740	23 Feb 2026	Direct	F1, F2
holding	USPH	Common Stock						1,808	23 Feb 2026	Reeve Trust

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 quarterly installments of 624 shares vesting beginning on May 20, 2026 and on each of March 6, May 20, August 20, and November 20 of each year 2026, 2027, 2028, and 2029 and 640 shares vesting on March 6, 2030, if he still employed by the Company as of those dates.
F2	Includes 23,348 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,964 shares will vest on March 6, 2026; 1,948 shares will vest on each of May 20, 2026, August 20, 2026, November 20, 2026; 1,956 shares will vest on March 6, 2027; 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027; 1,640 shares will vest on March 6, 2028; 1,130 shares will vest on each of May 20, 2028, August 20, 2028, November 20, 2028; 1,134 shares will vest on March 6, 2029; 624 shares will vest on each of May 20, 2029, August 20, 2029, November 20, 2029 and the remaining 640 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each applicable vesting date.

Content

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 quarterly installments of 624 shares vesting beginning on May 20, 2026 and on each of March 6, May 20, August 20, and November 20 of each year 2026, 2027, 2028, and 2029 and 640 shares vesting on March 6, 2030, if he still employed by the Company as of those dates.

Includes 23,348 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,964 shares will vest on March 6, 2026; 1,948 shares will vest on each of May 20, 2026, August 20, 2026, November 20, 2026; 1,956 shares will vest on March 6, 2027; 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027; 1,640 shares will vest on March 6, 2028; 1,130 shares will vest on each of May 20, 2028, August 20, 2028, November 20, 2028; 1,134 shares will vest on March 6, 2029; 624 shares will vest on each of May 20, 2029, August 20, 2029, November 20, 2029 and the remaining 640 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each applicable vesting date.