X0306 4 2017-11-17 0 0000885978 U S PHYSICAL THERAPY INC /NV USPH 0001182168 KUNTZ EDWARD L 8807 STABLE CREST BLVD SUITE 300 HOUSTON TX 77042 1 0 0 0 Common Stock 2017-11-17 4 S 0 2000 68.72 D 5750 D The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $68.60 - $68.85, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc., any of its shareholders or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4. Includes 1,000 shares of common stock granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapsed as to 500 shares on January 1, 2018 and as to 500 shares on April 1, 2018, if Mr. Kuntz is a director of the Company on those dates. /s/Edward Kuntz 2017-11-20