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AI brief of an SEC Form 8-K · U.S. Physical Therapy (USPH)

U.S. Physical Therapy sets 2026 executive incentive plans tied to Adjusted EBITDA

Neutral Impact 3 of 5 leadership Written later

Effective March 9, 2026, the Compensation Committee approved four 2026 incentive plans for senior management, covering CEO Christopher Reading, President and COO East Eric Williams, COO West Graham Reeve, and EVP and General Counsel Rick Binstein. Long-term and bonus awards are tied to 2026 Adjusted EBITDA in part, and awards will be determined in the first quarter of 2027. The filing sets out the award structure but does not state any amounts granted.

Key points

  • Objective plans link awards to 2026 Adjusted EBITDA: threshold $101,608,320, target $105,600,000, and maximum $108,240,000 for the long-term plan.
  • Target RSUs under the objective long-term plan: CEO 12,752, President 5,613, COO West 5,080, and EVP 4,314, with a maximum of 150% of target.
  • Bonus potential: up to 100% of base salary for the CEO and 75% for other executives under the objective plan, and up to 50% of base salary under the discretionary plan.
  • RSUs vest in equal quarterly installments over 16 quarters, beginning May 20, 2027, with final vesting on March 6, 2030.

The filing

CompanyU.S. Physical Therapy (USPH)
Form8-K, current report
Filed with the SECMar 13, 2026, 4:07 PM ET
Accession number0000885978-26-000014

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:57 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on March 13, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.