U.S. Physical Therapy, Inc. Executive Compensation Plans

On March 9, 2026, U.S. Physical Therapy, Inc. (USPH) announced updates to its executive compensation structure through the adoption of several new incentive plans for its senior management. These plans include the Objective Long-Term Incentive Plan (Objective LTIP), Discretionary Long-Term Incentive Plan (Discretionary LTIP), Objective Bonus Plan, and Discretionary Bonus Plan, all effective March 9, 2026. The Objective LTIP and Discretionary LTIP focus on granting Restricted Stock Units (RSUs) to executives, with vesting periods typically spanning 16 quarters, concluding on March 6, 2030. Vesting may be accelerated under specific retirement conditions. The Objective LTIP ties RSU grants to the company's achievement of Adjusted EBITDA targets for 2026, with specific RSU amounts allocated to the CEO, President, COO West, and EVP. The Discretionary LTIP allows for RSU grants based on the Compensation Committee's evaluation of executive and corporate performance, with maximum RSU limits set for each executive. The Objective Bonus Plan and Discretionary Bonus Plan offer executives the opportunity to receive either a Cash Bonus or Restricted Stock Awards (RSAs), with award amounts tied to a percentage of their 2026 base salary. These bonuses are contingent upon meeting specific performance goals, including Adjusted EBITDA targets for the Objective Bonus Plan, and subjective criteria for the Discretionary Bonus Plan. All awards under these plans are subject to continued employment and the terms and conditions set forth by the Compensation Committee.