X0306 4 2018-03-09 0 0000885978 U S PHYSICAL THERAPY INC /NV USPH 0001263096 MCAFEE LAWRANCE W 1300 W. SAM HOUSTON PKWY S. SUITE 300 HOUSTON TX 77042 1 1 0 0 Chief Financial Officer Common Stock 2018-03-09 4 S 0 5000 83.35 D 31307 D The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $83.05 - $83.55, 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 26,935 shares of restricted stock granted under the Company's equity plans. Restrictions lapse as to 3,102 shares on each of April 1, 2018, July 1, 2018, October 1, 2018 and January 1, 2019; 1,852 shares on each of April 1, 2019, July 1, 2019, October 1, 2019 and January 1, 2020; and 1,142 shares on each of April 1, July 1 and October 1, 2020; 1,157 shares on January 1, 2021; 632 shares on each of April 1, July 1 and October 1, 2021; and 640 shares on January 1, 2022. /s/ Lawrance W McAfee 2018-03-12