FORM 4
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

REEVE GRAHAM D.
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)
COO
(Last)          (First)          (Middle)

1300 W SAM HOUSTON PKWY S, SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

3/11/2022
(Street)

HOUSTON, TX 77042
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 3/11/2022  A  10000 (1)A$0.00 20305 (2)D  
Common Stock         7639 I Reeve Trust 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares

Explanation of Responses:
(1) The 10,000 shares of common stock were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 equal quarterly installments with the first 624 shares on April 1, 2022 and thereafter with 624 shares on April 1, July 1, October 1 and January 1 of each year with the final 640 shares lapsing on January 1, 2026, if he is employed by the Company on those dates.
(2) Includes the 10,000 shares in Footnote 1 and includes 10,305 shares which restrictions lapse as to 1,433 on each of April 1, July 1 and October 1, 2022; 1,448 shares on January 1, 2023; 788 shares on each of April 1, July 1 and October 1, 2023; 794 shares on January 1, 2024; and 350 shares on each of April 1, July 1 and October 1, 2024 and January 1, 2025, if he is employed by the Company on those dates. Also includes 7,639 shares held in a trust in which Mr. Reeve is trustee and beneficiary.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
REEVE GRAHAM D.
1300 W SAM HOUSTON PKWY S
SUITE 300
HOUSTON, TX 77042


COO

Signatures
Graham D Reeve3/15/2022
**Signature of Reporting PersonDate


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 control number.
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