FILTON STEVE 4

What Happened Steve Filton, Executive Vice President & Chief Financial Officer of Universal Health Services (UHS), exercised stock options on 2026-03-12 to acquire 83,237 shares (39,200 @ $138.80 = $5,440,960 and 44,037 @ $152.68 = $6,723,569; total ≈ $12.16M). To cover exercise costs and tax withholding, 78,570 shares were surrendered/withheld (71,752 @ $192.28 = $13,796,475 and 6,818 @ $190.49 = $1,298,761; total ≈ $15.10M). In addition, 16,044 performance-based restricted stock units (RSUs) vested and were issued to him (no cash value shown in the filing).

Key Details

• Transaction date: March 12, 2026 (Form 4 filed March 13, 2026 — timely)
• Option exercises (Reporting code M): 39,200 @ $138.80 and 44,037 @ $152.68 (acquired)
• Withheld/disposed for taxes or exercise payment (code F): 71,752 @ $192.28 and 6,818 @ $190.49 (disposed)
• Grant/award (code A): 16,044 RSU shares issued upon vesting (value reported $0 in filing)
• Footnotes: F1 — the 16,044 RSU shares vested from a March 15, 2023 performance award; F2 — the option(s) vested ratably on 3/17/2022, 3/17/2023, 3/17/2024 and 3/17/2025
• Shares owned after transaction: not specified in the provided filing excerpt
• Filing timeliness: filed the next day (not marked late)

Context This was an options exercise with simultaneous withholding/surrender of shares to satisfy exercise costs and tax obligations (a common "sell-to-cover" or net-withholding approach), rather than an open-market sale for investment purposes. The RSU issuance reflects performance-based vesting from a prior award and was not previously reportable until vesting criteria were met. These actions are routine insider compensation and tax-related transactions and should be interpreted as such.