X0508 4 2023-08-11 0 0000885978 U S PHYSICAL THERAPY INC /NV USPH 0001519948 REEVE GRAHAM D. 1300 W SAM HOUSTON PKWY S SUITE 300 HOUSTON TX 77042 0 1 0 0 COO 0 Common Stock 13614 D Common Stock 2023-08-11 4 S 0 4114 109.99 D 7577 I Reeve Trust Includes 13,614 shares which were granted as restricted stock pursuant to the Company's Amended and Restated 2003 Stock Incentive Plan. Restrictions lapse as to 1,724 shares on October 1, 2023; 1,730 shares on January 1, 2024; 1,286 shares on each of April 1, 2024, July 1, 2024, October 1, 2024 and January 1, 2025; 936 shares on each of April 1, 2025 July 1, 2025 and October 1, 2025; 952 shares on January 1, 2026; and 312 shares on each of April 1, 2026, July 1, 2026 and October 1, 2026; and the final 320 shares on January 1, 2027, if he is an employee of the Company on those dates. The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $109.27 to $111.14, 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. /s/ Graham D Reeve 2023-08-14