---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-010807"
form_type: "8-K"
ticker: "USPH"
cik: "0000885978"
company_name: "U S PHYSICAL THERAPY INC /NV"
filed_at: "2025-03-28T23:59:59+00:00"
generated_at: "2026-05-24T03:31:07.713449+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.35
calibrated_materiality_score: 0.35
confidence: "high"
source: SEC EDGAR
---

# USPH sets 2025 EBITDA targets for executive incentive plans: Threshold $88M, Target $91.5M, Maximum $95M

## Summary
- Compensation Committee approved four executive incentive plans for 2025, effective March 26, 2025.
- 2025 Adjusted EBITDA targets: Threshold $88M, Target $91.45M, Maximum $95M for objective LTIP and bonus.
- Maximum RSAs under LTIPs: CEO 12,500 shares; President 7,500; CFO, COO West, EVP 5,000 each; vesting 16 quarters through 2030.
- Objective Bonus Plan: CEO up to 100% of base salary; President, CFO, COO West, EVP up to 75% based on EBITDA.
- Discretionary Bonus Plan allows up to 50% of base salary as subjective cash or RSA bonus determined by committee.

## SEC filing metadata
- accession: 0001140361-25-010807
- form_type: 8-K
- ticker: USPH
- cik: 0000885978
- company_name: U S PHYSICAL THERAPY INC /NV
- filed_at: 2025-03-28T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.35
- calibrated_materiality_score: 0.35
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885978/000114036125010807/0001140361-25-010807-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885978/000114036125010807/ef20046377_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-010807
- JSON: https://secwatch.observer/filing/0001140361-25-010807.json
- Plain text: https://secwatch.observer/filing/0001140361-25-010807.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.