secwatch.observer — SEC 8-K summary
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Issuer:     U S PHYSICAL THERAPY INC /NV (USPH)
CIK:        0000885978
Form:       8-K
Filed at:   2022-03-23T23:59:59+00:00
Accession:  0000885978-22-000018
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02
LLM model:  deepseek-v4-flash:cloud@v2

U.S. Physical Therapy appoints Rick Binstein as EVP, enters new employment agreement
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- Rick Binstein appointed Executive Vice President effective March 17, 2022, while continuing as General Counsel and Secretary.
- New employment agreement effective March 23, 2022, with a two-year renewable term and annual base salary of $340,000.
- Termination without cause or for good reason triggers two years' base salary, average bonus (or last year's), and restricted stock vesting.
- Change in control benefit of $283,333 if a change in control occurs within 6 months after or 12 months prior to termination.
- Non-compete for 2 years within 50 miles of any clinic location; non-solicitation of employees and referral sources for 2 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885978/000088597822000018/0000885978-22-000018-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885978/000088597822000018/form-8k.htm
  HTML page:      https://secwatch.observer/filing/0000885978-22-000018

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