X0303 4 2011-03-11 0 0000885978 U S PHYSICAL THERAPY INC /NV USPH 0001270356 READING CHRISTOPHER J 1300 W. SAM HOUSTON PKWY S. SUITE 300 HOUSTON TX 77042 1 1 0 0 Chief Executive Officer Common Stock 2011-03-11 4 S 0 25000 20.43 D 40000 D The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $20.30 - $20.50, 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. Grant of 30,000 restricted shares under the 1999 Plan as amended, restated and adopted, with a four year quarterly vesting schedule as to the lapse of restrictions thereof with 1/16 equal portions (1875 shares) vesting quarterly, with the first 1/16 vesting on March 31, 2011 and thereafter equal 1/16 portions on June 30, September 30 and December 31 each year until all such shares shall have vested, which shall be December 31, 2014. Also includes 10,000 shares of common stock granted as restricted stock. Restrictions lapse as to 2,500 on March 31, 2011; 2,500 on June 30, 2011; 2,500 on September 30, 2011; and 2,500 on December 31, 2011. /s/ Christopher J. Reading 2011-03-11