USPH · U S Physical Therapy Inc · Insider Trading

Includes 1,210 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 303 shares will vest on each of November 20, 2026, and March 6, 2027, and 605 shares will vest on May 20, 2027, subject to the Reporting Person's continued service as a director through each applicable vesting date.

Includes 6,831 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 427 shares will vest on each of November 20, 2026, March 6, 2027, May 20, 2027, August 20 2027, November 20, 2027, March 6, 2028, May 20, 2028, August 20 2028, November 20, 2028, March 6, 2029, May 20, 2029, August 20 2029, November 20, 2029, March 6, 2030, and May 20, 2030, and 426 shares will vest on August 20, 2030. Vesting is subject to his continued employment with the Company through each of the applicable vesting dates.

Represents shares acquired through automatic reinvestment of cash dividends in the Reporting Person's brokerage account.

Includes 1,153 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 24,402 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 2,512 shares will vest on November 20, 2026, 2,520 shares vest on March 6, 2027, 2,200 shares vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 2,204 shares vest on March 6, 2028, 1,694 shares vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,716 shares will vest on March 6, 2029, 936 shares vest on each of May 20, 2029, August 20, 2029 and November 20, 2029, and 960 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each of the applicable vesting dates.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 17,488 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 1,948 shares will vest on November 20, 2026, 1,956 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 3,425 shares of common stock subject to vesting restrictions. The shares were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 171 shares vest on each of November 20, 2026, and March 6, 2027, 1,250 shares vest on May 15, 2027, 171 shares vest on each of May 20, 2027, August 20, 2027, November 20, 2027, March 6, 2028, May 20, 2028, August 20, 2028, November 20, 2028, and March 6, 2029, 178 shares vest on May 20, 2029, 93 shares vest on each of August 20, 2029 and November 20, 2029, and 101 shares vest on March 6, 2030. Vesting is contingent upon the reporting person's continued service with the Company through each applicable vesting date.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 17,330 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 1,870 shares will vest on November 20, 2026, 1,876 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

Represents a fractional share acquired through the automatic reinvestment of cash dividends in the Reporting Person's brokerage account. This transaction was inadvertently not reported previously and is being reported on this Form 4.

Includes 1,153 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as follows: 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 3,596 shares of common stock subject to vesting restrictions. The shares were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 171 shares vest on each of August 20, 2026, November 20, 2026, and March 6, 2027; 1,250 shares vest on May 15, 2027; 171 shares vest on each of May 20, 2027, August 20, 2027, November 20, 2027, March 6, 2028, May 20, 2028, August 20, 2028, November 20, 2028, and March 6, 2029; 178 shares vest on May 20, 2029; 93 shares vest on each of August 20, 2029 and November 20, 2029; and 101 shares vest on March 6, 2030. Vesting is contingent upon the reporting person's continued service with the Company through each applicable vesting date.

The reporting person surrendered shares to the issuer to satisfy applicable tax withholding obligations upon vesting.

Includes 19,436 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,948 shares will vest on each of August 20, 2026 and November 20, 2026, 1,956 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

5/19/2026 - Transaction price should have been reported as $0.00, not $61.61.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if she is a director of the Company on those dates.

5/19/2026 - Transaction price should have been reported as $0.00, not $61.61.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

5/19/2026 - Transaction price should have been reported as $0.00, not $61.61.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

5/19/2026 - Transaction price should have been reported as $0.00, not $61.61.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if he is a director of the Company on those dates.

5/19/2026 - Transaction price should have been reported as $0.00, not $61.61.

Includes 2,306 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,153 shares on August 20, 2026, 576 shares on November 20, 2026 and 577 shares on March 6, 2027, if she is a director of the Company on those dates.

The price reported ($78.86) is the weighted average price. The shares were sold in multiple transactions at prices ranging from $78.82 to $79.82 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 21,384 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,948 shares will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 1,956 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

Includes 11,070 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,246 shares will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 1,252 shares will vest on March 6, 2027, 1,012 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares will vest on March 6, 2028, 506 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 510 shares will vest on March 6, 2029 if he remains employed by the Company on those dates.

Includes 21,070 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as to 1,870 shares will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 1,876 shares will vest on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028, and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 640 shares will vest on March 6, 2030, if he is an employee of the Company on those dates.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 quarterly installments of 624 shares vesting beginning on May 20, 2026 and on each of March 6, May 20, August 20, and November 20 of each year 2026, 2027, 2028, and 2029 and 640 shares vesting on March 6, 2030, if he still employed by the Company as of those dates.

Includes 23,348 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,964 shares will vest on March 6, 2026; 1,948 shares will vest on each of May 20, 2026, August 20, 2026, November 20, 2026; 1,956 shares will vest on March 6, 2027; 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027; 1,640 shares will vest on March 6, 2028; 1,130 shares will vest on each of May 20, 2028, August 20, 2028, November 20, 2028; 1,134 shares will vest on March 6, 2029; 624 shares will vest on each of May 20, 2029, August 20, 2029, November 20, 2029 and the remaining 640 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each applicable vesting date.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. The restrictions lapse in 15 equal quarterly installments of 1,562 shares beginning on May 20, 2026 and on each of March 6, May 20, August 20, and November 20 of each of the years 2026, 2027, 2028, and 2029 and 1,570 shares vesting on March 6, 2030

Includes 54,946 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 4,152 shares vest on March 6, 2026; 4,464 shares vest on each of May 20, 2026, August 20, 2026, November 20, 2026 and March 6, 2027; 3,839 shares vest on each of May 20, 2027, August 20, 2027, and November 20, 2027; 3,847 shares vest on March 6, 2028; 2,827 shares vest on each of May 20, 2028, August 20, 2028, and November 20, 2028; 2,837 shares vest on March 6, 2029; 1,562 shares vest on each of May 20, 2029, August 20, 2029, and November 20, 2029 and 1,570 shares vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each applicable vesting date.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. The restrictions lapse in fifteen (15) equal quarterly installments of 936 shares vesting on each of May 20, August 20, November 20, and March 6 of each of the years 2026, 2027, 2028, and 2029. The final 960 shares vesting on March 6, 2030. Vesting is subject to his continued employment with the Company through each of the applicable vesting dates.

Includes 31,322 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,896 shares vest on March 6, 2026; 2,512 shares vest on May 20, 2026, August 20, 2026, November 20, 2026; 2,520 shares vest on March 6, 2027; 2,200 shares vest on May 20, 2027, August 20, 2027, and November 20, 2027; 2,204 shares vest on March 6, 2028; 1,694 shares vest on May 20, 2028, August 20, 2028, and November 20, 2028; 1,716 shares will vest on March 6, 2029; 936 shares vest on May 20, 2029, August 20, 2029 and November 20, 2029; and 960 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each of the applicable vesting dates.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. The restrictions lapse in fifteen (15) equal quarterly installments of 624 shares each, vesting on May 20, August 20, and November 20 of 2026, and March 6, May 20, August 20, and November 20 in each of the years 2027, 2028, and 2029; and 640 shares which will vest on March 6, 2030.

Includes 22,796 shares, inclusive of those mentioned in Footnote 1, which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as follows: 1,726 shares will vest on March 6, 2026; 1,870 shares will vest on each of May 20, 2026, August 20, 2026, November 20, 2026; 1,876 shares will vest on March 6, 2027; 1,636 shares will vest on each of May 20, 2027, August 20, 2027, and November 20, 2027; 1,640 shares will vest on March 6, 2028; 1,130 shares will vest on each of May 20, 2028, August 20, 2028, November 20, 2028; 1,134 shares will vest on March 6, 2029; 624 shares will vest on each of May 20, 2029, August 20, 2029, November 20, 2029 and the remaining 640 shares will vest on March 6, 2030. Vesting is subject to his continued employment with the Company through each applicable vesting date.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 quarterly installments of 624 shares vesting beginning on May 20, 2026 and on each of March 6, May 20, August 20, and November 20 of each year 2026, 2027, 2028 and 2029 and 640 shares vesting on March 6, 2030, if he still employed by the Company as of those dates.

Includes 22,624 (including the awards mentioned in note 1) which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restriction lapse as to 1,554 shares will vest on March 6, 2026, 1,870 shares will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 1,876 shares on March 6, 2027, 1,636 shares will vest on each of May 20, 2027, August 20, 2027 and November 20, 2027, 1,640 shares will vest on March 6, 2028, 1,130 shares will vest on each of May 20, 2028, August 20, 2028 and November 20, 2028, 1,134 shares will vest on March 6, 2029, 624 shares will vest on each of May 20, 2029, August 20, 2028 and November 20, 2029 and the final 640 shares will vest on March 6, 2030.

The price reported $71.01 is the weighted average price. The shares were sold in multiple transactions at prices ranging from $71.01 to $71.31 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 13,348 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,964 shares on March 6, 2026, 1,324 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,332 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 471 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. These shares will fully vest on March 6, 2026 if she remains as a member of the Board of Directors of the Company on that date.

Includes 941 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if she is a director of the Company on those dates.

Includes 18,210 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,888 shares on November 20, 2025, 1,896 shares on March 6, 2026,1,576 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,584 shares on March 6, 2027, 1,264 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,268 shares on March 6, 2028, 758 shares on each of May 20, 2028, August 20, 2028, November 20, 2028, and 780 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 34,098 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 4,152 shares on each of November 20, 2025 and March 6, 2026, 2,902 shares on each of May 20, 2026, August 20, 2026, November 20, 2026, and March 6, 2027, 2,277 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 2,285 shares on March 6, 2028,1,265 shares on each of May 20, 2028, August 20, 2028, and November 20, 2028, and 1,275 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 14,510 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,714 shares on November 20, 2025, 1,726 shares on March 6, 2026, 1,246 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,252 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

The price reported $84.97 is the weighted average price. The shares were sold in multiple transactions at prices ranging from $84.90 to $85.02 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 15,296 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,948 shares on November 20, 2025. 1,964 shares on March 6, 2026, 1,324 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,332 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 15,726 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,551 shares on each of August 20, 2025, and November 20, 2025, 1,554 shares on March 6, 2026, 1,246 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026,1,252 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 17,244 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,948 shares on each of August 20, 2025, and November 20, 2025, 1,964 shares on March 6, 2026, 1,324 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,332 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

The price reported is weighted average price ($78.01). The shares were sold in multiple transactions at prices ranging from $77.99 to $78.03 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if she is a director of the Company on those dates.

The price reported is the weighted average price ($78.08) . The shares were sold in multiple transactions at prices ranging from $77.83 to $78.35 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 17,244 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,948 shares on each of August 20, 2025, and November 20, 2025, 1,964 shares on March 6, 2026, 1,324 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,332 shares on March 6, 2027, 1,012 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,016 shares on March 6, 2028, 506 shares of each on May 20, 2028, August 20, 2028, and November 20, 2028, and 510 shares on March 6, 2029, if he is an employee of the Company on those dates.

The price reported $78.09 is the weighted average price. The shares were sold in multiple transactions at prices ranging from $77.83 to $78.35 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Includes 20,382 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 2,172 shares on each of August 20, 2025, 1,888 shares on November 20, 2025, 1,896 shares on March 6, 2026, 1,576 shares on each of May 20, 2026, August 20, 2026, and November 20, 2026, 1,584 shares on March 6, 2027, 1,264 shares on each of May 20, 2027, August 20, 2027, and November 20, 2027, 1,268 shares on March 6, 2028, 758 shares of each on May 20, 2028, August 20, 2028, November 20, 2028, and 780 shares on March 6, 2029, if he is an employee of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if she is a director of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if she is a director of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if he is a director of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if he is a director of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if he is a director of the Company on those dates.

Includes 1,882 shares which were granted as restricted stock pursuant to the Company Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 941 shares on August 20, 2025, 470 shares on November 20, 2025, and 471 shares on March 6, 2026, if she is a director of the Company on those dates.

Includes 17,938 shares of which 1,714 will vest on each May 20, 2025, August 20, 2025 and November 20, 2025, 1,726 will vest on March 6, 2026, 1,246 will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 1,252 will vest on March 6, 2027, 1,012 will vest on each of May 20, 2027, August 20, 2027, November 20, 2027, 1,016 will vest on March 6, 2028, 506 will vest each of May 20, 2028, August 20, 2028, November 20, 2028, and 510 will vest on March 6, 2029, if he is employed on those dates.

All 1,730 shares were sold at the same price of $82.11.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 equal quarterly installments of 1,265 shares vesting on each of May 20, August 20, November 20 of 2025 and March 6, May 20, August 20 and November 202 in each year 2026, 2027 and 2028, with the final 1,275 shares vesting on March 6, 2029, if he is employed by the Company on those dates.

Includes the shares in footnote 1 and 22,152 shares described in next sentences. On February 24, 2025, the issuer and the reporting person mutually agreed to amend the vesting terms of the outstanding awards. Per the amendment, of the total outstanding unvested shares of 22,152, 2,887 will vest on May 20, 2025, 2,887 will vest on each August 20, 2025 and November 20, 2025, 2,887 will vest on March 6, 2026, 1,637 will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, and March 6, 2027, 1,012 will vest on each of May 20, 2027, August 20, 2027, November 2027 and 1,020 will vest on March 6, 2028, if he is employed on those dates.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 equal quarterly installments of 506 shares vesting on each of May 20, August 20, November 20 of 2025 and March 6, May 20, August 20 and November 20 in each year 2026, 2027 and 2028, with the final 510 shares vesting on March 6, 2029, if he is employed by the Company on those dates.

Includes the shares noted in footnote 1 and 9,838 shares described in next sentences. On February 24, 2025, the issuer and the reporting person mutually agreed to amend the vesting terms of the outstanding awards. Per the amendment, of the total outstanding unvested shares of 9,838, 1,208 will vest on May 20, 2025, 1,208 will vest on each August 20, 2025 and November 20, 2025, 1,220 will vest on March 6, 2026, 740 will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 746 will vest on March 6, 2027, 506 will vest on each of May 20, 2027, August 20, 2027, November 2027 and 510 will vest on March 6, 2028, if he is employed on those dates.

These shares of common stock were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse in 15 equal quarterly installments of 506 shares vesting on each of May 20, August 20, November 20 and March 6 in each year 2025, 2026, 2027 and 2028, with the final 510 shares vesting on March 6, 2029, if he is employed by the Company on those dates.

Includes the shares noted in footnote 1 and 11,092, shares described in next sentences. On February 24, 2025, the issuer and the reporting person mutually agreed to amend the vesting terms of the outstanding awards. Per the amendment, of the total outstanding unvested shares of 11,092, 1,442 will vest on May 20, 2025, August 20, 2025 and November 20, 2025, 1,458 will vest on March 6, 2026, 818 will vest on each of May 20, 2026, August 20, 2026 and November 20, 2026, 826 will vest on March 6, 2027, 506 will vest on each of May 20, 2027, August 20, 2027, November 2027 and 510 will vest on March 6, 2028, if he is employed on those dates.