SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
ORTENZIO ROBERT A
(Last) (First) (Middle)
4716 OLD GETTYSBURG ROAD
P.O. BOX 2034
(Street)
MECHANICSBURG PA 17055
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SELECT MEDICAL CORP [ SEM ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
CEO and President
3. Date of Earliest Transaction (Month/Day/Year)
11/03/2003
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $.01 per share 11/03/2003 M 100,000 A $11.75 1,153,733 D
Common Stock, par value $.01 per share 11/03/2003 M 82,980 A $11.75 1,236,713 D
Common Stock, par value $.01 per share 11/03/2003 M 17,020 A $11.75 1,253,733 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 9,500 D $33.5 1,244,233 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 13,900 D $33.545 1,230,333 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 1,900 D $33.55 1,228,433 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 300 D $33.56 1,228,133 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 27,600 D $33.58 1,200,533 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 2,800 D $33.59 1,197,733 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 20,400 D $33.6 1,177,333 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 800 D $33.61 1,176,533 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 1,300 D $33.62 1,175,233 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 3,300 D $33.63 1,171,933 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 500 D $33.64 1,171,433 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 5,300 D $33.645 1,166,133 D
Common Stock, par value $.01 per share 11/03/2003 S(1) 12,400 D $33.65 1,153,733 D
Common Stock, par value $.01 per share 11/03/2003 S 21,100 D $33.8 1,132,633 D
Common Stock, par value $.01 per share 11/03/2003 S 35,100 D $33.85 1,097,533 D
Common Stock, par value $.01 per share 11/03/2003 S 3,100 D $33.86 1,094,433 D
Common Stock, par value $.01 per share 11/03/2003 S 38,500 D $33.9 1,055,933 D
Common Stock, par value $.01 per share 11/03/2003 S 2,200 D $33.94 1,053,733 D
Common Stock, par value $.01 per share 4,429(2) I By R.A. Ortenzio Family Partnership, L.P.
Common Stock, par value $.01 per share 6,799(3) I By Select Investments I
Common Stock, par value $.01 per share 13,740(4) I By Select Capital Corporation
Common Stock, par value $.01 per share 65,695(5) I By RAO Generation Skipping Trust
Common Stock, par value $.01 per share 500(6) I By Select Healthcare Investors I, L.P.
Common Stock, par value $.01 per share 44,169(7) I By Ortenzio Family Partnership, L.P.
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Non-qualified Stock Options (right to buy) $11.75 11/03/2003 M 100,000 04/26/2002(8) 04/25/2011 Common Stock 100,000 $0 774,470 D
Non-qualified Stock Options (right to buy) $11.75 11/03/2003 M 82,980 04/26/2002(8) 04/25/2011 Common Stock 82,980 $0 691,490 D
Employee Stock Options (right to buy) $11.75 11/03/2003 M 17,020 04/26/2002(9) 04/25/2011 Common Stock 17,020 $0 8,510 D
Explanation of Responses:
1. This sale was effected pursuant to a Rule 10b5-1 trading plan adopted on September 10, 2003.
2. These shares are directly owned by the R.A. Ortenzio Family Partnership, L.P., of which Mr. Ortenzio is a general partner. Mr. Ortenzio disclaims beneficial ownership of any shares held by the R.A. Ortenzio Family Partnership, L.P. that exceed his pecuniary interest therein.
3. Mr. Ortenzio is a partner and 25% owner of Select Investments I. Mr. Ortenzio disclaims beneficial ownership of any shares held by Select Investments I that exceed his pecuniary interest therein.
4. Mr. Ortenzio is a 25% owner, Director and President of Select Capital Corporation. Mr. Ortenzio disclaims beneficial ownership of any shares held by Select Capital Corporation that exceed his pecuniary interest therein.
5. These shares are directly owned by the RAO Generation Skipping Trust, of which Mr. Ortenzio is a trustee and beneficiary.
6. Mr. Ortenzio is a 25% owner, Director and President of Select Capital Corporation, the general partner of Select Healthcare Investors I, L.P. Mr. Ortenzio disclaims beneficial ownership of any shares held by Select Healthcare Investors I, L.P. that exceed his pecuniary interest therein.
7. These shares are directly owned by the Ortenzio Family Partnership, L.P., of which Mr. Ortenzio is the general partner.
8. The original option grant of 874,470 options vests over three years in equal parts of 1/3rd of the total per year, the first installment of which vested on 4/26/2002.
9. The original option grant of 25,530 options vests over three years in equal parts of 1/3rd of the total per year, the first installment of which vested on 4/26/2002.
Remarks:
/s/ Michael E. Tarvin, attorney-in-fact for Robert A. Ortenzio 11/04/2003
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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