USPH accelerates restricted stock vesting for retiring COO McDowell; $1.3M charge

U S PHYSICAL THERAPY INC /NV

Compensation Committee accelerated lapse of restrictions on 13,867 restricted shares for COO – West Glenn McDowell.
Restrictions lapse on August 31, 2021, the effective date of McDowell's previously announced retirement.
Non-cash charge of ~$1.3M ($0.10 per share) in Q3 2021 and full year 2021 from acceleration.
Shares relate to grants from 2018–2021 under the company's stock incentive plans.

item 5.02

Executive movements

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Departed

Glenn McDowell

Chief Operating Officer – West

USPH · U S PHYSICAL THERAPY INC /NV

Effective: 2021-08-31
Filed: August 18, 2021, 7:59 PM ET

Mr. McDowell will retire from his position as Chief Operating Officer – West effective August 31, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Glenn McDowell departed as Chief Operating Officer – West at U S PHYSICAL THERAPY INC /NV.

Action: retire
Role: Chief Operating Officer – West

Exact text from the filing

Mr. McDowell will retire from his position as Chief Operating Officer – West effective August 31, 2021.

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Source: SEC EDGAR

accession 0000885978-21-000034

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