U S Physical Therapy Inc 8-K, filed Dec 9, 2020
U S Physical Therapy Inc (USPH)
8-K
2020-12-09
For: 2020-12-07
View Original
Added on
April 09, 2026
About this 8-K
U S Physical Therapy Inc filed this 8-K on December 9, 2020, reporting on events of December 7, 2020.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 7, 2020
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction
of incorporation or organization)
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(Commission
File Number)
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(I.R.S. Employer
Identification No.)
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(Address of Principal Executive Offices)
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(Zip Code)
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Registrant's telephone number, including area code: (713 ) 297-7000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions ( see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
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◻
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Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.
On December 7, 2020, the Compensation Committee of the Board of Directors of U.S. Physical Therapy, Inc. (“Board”) (the “Company”) accelerated
the lapse of restrictions on 15,052 shares of restricted stock previously granted to Mr. Lawrence McAfee, former Chief Financial Officer of the Company. These restricted shares related to stock grants in 2017 through 2020, pursuant to the
Company’s stock incentive plan and various executive incentive plans in effect during those years.
As previously disclosed, Mr. McAfee retired as Chief Financial Officer effective November 9, 2020 and continued as an employee and member of the Board through
December 8, 2020. Mr. McAfee entered into a consulting agreement with the Company, effective as of December 9, 2020, for certain transition services to assist the Company as needed from time to time.
The Company will incur a non-cash charge of approximately $1.1 million, or $0.09 per share, in the quarter and year ending December 31, 2020
related to the acceleration of the vesting of Mr. McAfee’s awards.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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U.S. PHYSICAL THERAPY, INC.
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Dated: December 9, 2020
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By:
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/s/ CAREY HENDRICKSON
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Carey Hendrickson
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Chief Financial Officer
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(duly authorized officer and principal financial and accounting officer)
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