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 * MILLER ALAN B 2. Issuer Name and Ticker or Trading Symbol UNIVERSAL HEALTH SERVICES INC [ UHS ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Executive Chairman
(Last)          (First)          (Middle)
UNIVERSAL HEALTH SERVICES, INC.
3. Date of Earliest Transaction (MM/DD/YYYY)
11/21/2022
(Street)
KING OF PRUSSIA, PA 19406
(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
Class B Common Stock  11/21/2022    M    200000  A $128.67  1261665  D   
Class B Common Stock  11/21/2022    F    191927  D $128.67  1069738  D   
Class B Common Stock                 18403  I  Abby Miller King 2021 GRAT 
Class B Common Stock                 83252  I  AMK 2014 LLC as held by Alan B. Miller 
Class B Common Stock                 16748  I  AMK 2014 LLC held by The Abby Danielle Miller 2002 Trust 
Class B Common Stock                 55763  I  By The Abby Miller King 2011 Family Trust 
Class B Common Stock                 24538  I  Marc Daniel Miller 2021 GRAT 
Class B Common Stock                 18403  I  Marni Spencer 2021 GRAT 
Class B Common Stock                 175993  I  MDM 2014 LLC as held by Alan B. Miller 
Class B Common Stock                 24007  I  MDM 2014 LLC held by The Marc Daniel Miller 2002 Trust 
Class B Common Stock                 83252  I  MS 2014 LLC as held by Alan B. Miller 
Class B Common Stock                 16748  I  MS 2014 LLC held by The Marni Spencer 2002 Trust 
Class B Common Stock                 8623  I  The Alan and Jill Miller Foundation (1)
Class B Common Stock                 59900  I  The Marc Daniel Miller 2011 Family Trust 
Class B Common Stock                 55763  I  The Marni Spencer 2011 Family Trust 
Class B Common Stock                 23035  I  Abby Miller King 2022 GRAT 
Class B Common Stock                 30713  I  Marc Daniel Miller 2022 GRAT 
Class B Common Stock                 23035  I  Marni Spencer 2022 GRAT 

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 Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. 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 Date 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 of Derivative Security: 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
Option To Purchase Class B Common Stock  $119.64  11/21/2022    M        200000    (2) 4/12/2023  Class B Common Stock  200000  $0  390000  D   

Explanation of Responses:
(1)  Mr. Alan B. Miller disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that Mr. Alan B. Miller is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
(2)  Option vested ratably on each of 4/13/2019, 4/13/2020, 4/13/2021, and 4/13/2022.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
MILLER ALAN B
UNIVERSAL HEALTH SERVICES, INC.
KING OF PRUSSIA, PA 19406
X X Executive Chairman

Signatures
/s/ Alan B. Miller 11/21/2022
**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 control number.
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