U.S. Physical Therapy Management

Management criteria checks 2/4

U.S. Physical Therapy's CEO is Chris Reading, appointed in Nov 2004, has a tenure of 19.5 years. total yearly compensation is $3.37M, comprised of 28.4% salary and 71.6% bonuses, including company stock and options. directly owns 0.67% of the company’s shares, worth €9.85M. The average tenure of the management team and the board of directors is 6.2 years and 13.2 years respectively.

Key information

Chris Reading

Chief executive officer

US$3.4m

Total compensation

CEO salary percentage	28.4%
CEO tenure	19.5yrs
CEO ownership	0.7%
Management average tenure	6.2yrs
Board average tenure	13.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Chris Reading's remuneration changed compared to U.S. Physical Therapy's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$3m	US$959k	US$18m
Sep 30 2023	n/a	n/a	US$24m
Jun 30 2023	n/a	n/a	US$26m
Mar 31 2023	n/a	n/a	US$28m
Dec 31 2022	US$2m	US$926k	US$29m
Sep 30 2022	n/a	n/a	US$39m
Jun 30 2022	n/a	n/a	US$38m
Mar 31 2022	n/a	n/a	US$37m
Dec 31 2021	US$4m	US$896k	US$31m
Sep 30 2021	n/a	n/a	US$31m
Jun 30 2021	n/a	n/a	US$30m
Mar 31 2021	n/a	n/a	US$32m
Dec 31 2020	US$3m	US$676k	US$32m
Sep 30 2020	n/a	n/a	US$30m
Jun 30 2020	n/a	n/a	US$31m
Mar 31 2020	n/a	n/a	US$29m
Dec 31 2019	US$3m	US$769k	US$31m
Sep 30 2019	n/a	n/a	US$30m
Jun 30 2019	n/a	n/a	US$23m
Mar 31 2019	n/a	n/a	US$18m
Dec 31 2018	US$3m	US$739k	US$17m
Sep 30 2018	n/a	n/a	US$18m
Jun 30 2018	n/a	n/a	US$22m
Mar 31 2018	n/a	n/a	US$21m
Dec 31 2017	US$2m	US$720k	US$22m

Compensation vs Market: Chris's total compensation ($USD3.37M) is above average for companies of similar size in the German market ($USD1.63M).

Compensation vs Earnings: Chris's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Chris Reading (59 yo)

19.5yrs

Tenure

US$3,372,377

Compensation

Mr. Christopher J. Reading, also known as Chris, has been the Chief Executive Officer and President of US Physical Therapy Inc. since November 1, 2004. Mr. Reading served as the Chief Operating Officer at...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Christopher Reading	President	19.5yrs	US$3.37m	0.67% $ 9.9m
Carey Hendrickson	Chief Financial Officer	3.5yrs	US$1.69m	0.14% $ 2.1m
Richard Binstein	Executive VP	13.3yrs	US$1.50m	0.10% $ 1.5m
Graham Reeve	Chief Operating Officer - West	6.2yrs	US$1.91m	0.17% $ 2.5m
Eric Williams	Chief Operating Officer - East	2.8yrs	US$1.79m	0.13% $ 1.9m
Jake Martinez	Senior Vice President of Finance & Accounting	2.1yrs	no data	no data
Chadd Pence	Senior Vice President of Information Systems	no data	no data	no data
Jayne Pool	Senior VP & Chief Compliance Officer	no data	no data	no data
Jason Anderson	Vice President of Human Resources	no data	no data	no data
Jon Bates	VP & Corporate Controller	17.5yrs	no data	no data

6.2yrs

Average Tenure

59yo

Average Age

Experienced Management: UPH's management team is seasoned and experienced (6.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Christopher Reading	President	19.5yrs	US$3.37m	0.67% $ 9.9m
Edward Kuntz	Independent Chairman	9.8yrs	US$340.29k	0.038% $ 564.8k
Nancy Ham	Independent Director	less than a year	US$215.92k	0.0057% $ 84.1k
Clayton Trier	Independent Director	19.3yrs	US$269.29k	0.046% $ 684.1k
Bernard Harris	Independent Director	18.8yrs	US$241.71k	0.11% $ 1.7m
Kathleen Gilmartin	Independent Director	6yrs	US$228.71k	0.10% $ 1.5m
Reginald Swanson	Independent Director	16.7yrs	US$236.54k	0.12% $ 1.7m
Anne Motsenbocker	Independent Director	2.3yrs	US$239.04k	0.028% $ 410.4k

13.2yrs

Average Tenure

67.5yo

Average Age

Experienced Board: UPH's board of directors are seasoned and experienced ( 13.2 years average tenure).

U.S. Physical Therapy Management

Management criteria checks 2/4

Key information

Recent management updates

U.S. Physical Therapy, Inc., Annual General Meeting, May 21, 2024

Chief Operating Officer - West recently sold €253k worth of stock

Chief Operating Officer - West recently sold €413k worth of stock

U.S. Physical Therapy, Inc. Elects Nancy Ham to the Board of Directors

Independent Director recently sold €439k worth of stock

Executive VP recently sold €87k worth of stock

Recent updates

U.S. Physical Therapy, Inc., Annual General Meeting, May 21, 2024

Chief Operating Officer - West recently sold €253k worth of stock

Fourth quarter dividend of US$0.44 announced

New minor risk - Profit margin trend

U.S. Physical Therapy, Inc. Increases Quarterly Dividend, Payable on April 5, 2024

New minor risk - Earnings quality

Full year 2023 earnings released: EPS: US$1.99 (vs US$2.25 in FY 2022)

Now 21% undervalued

U.S. Physical Therapy, Inc. to Report Q4, 2023 Results on Feb 28, 2024

U.S. Physical Therapy, Inc. to Report Q4, 2023 Results on Feb 28, 2024

Now 21% undervalued after recent price drop

Third quarter 2023 earnings released: EPS: US$0.62 (vs US$0.72 in 3Q 2022)

U.S. Physical Therapy, Inc. Declares Quarterly Dividend, Payable on December 8, 2023

U.S. Physical Therapy, Inc. to Report Q3, 2023 Results on Nov 07, 2023

Chief Operating Officer - West recently sold €413k worth of stock

Second quarter 2023 earnings released: EPS: US$0.80 (vs US$0.87 in 2Q 2022)

U.S. Physical Therapy, Inc. Declares Quarterly Dividend, Payable on September 8, 2023

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired a 70% stake in U.S. Physical Therapy, Inc. (NYSE:USPH) for $2.1 million.

U.S. Physical Therapy, Inc. to Report Q2, 2023 Results on Aug 08, 2023

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 75% interest in Physical therapy practice with four clinics for $3.1 million

U.S. Physical Therapy, Inc. has completed a Follow-on Equity Offering in the amount of $150.00003 million.

U.S. Physical Therapy, Inc. Elects Nancy Ham to the Board of Directors

Upcoming dividend of US$0.43 per share at 1.6% yield

U.S. Physical Therapy Declares Quarterly Dividend, Payable on June 9, 2023

First quarter 2023 earnings released: EPS: US$0.57 (vs US$0.67 in 1Q 2022)

Independent Director recently sold €439k worth of stock

Executive VP recently sold €87k worth of stock

Upcoming dividend of US$0.43 per share at 1.7% yield

Full year 2022 earnings released: EPS: US$2.25 (vs US$2.42 in FY 2021)

U.S. Physical Therapy, Inc. to Report Q4, 2022 Results on Feb 22, 2023

Independent Director recently sold €573k worth of stock

President recently sold €858k worth of stock

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 80% stake in Thirteen-clinic physical therapy practice from practice’s owners for $25 million.

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 80% stake in Thirteen-clinic physical therapy practice for $25 million.

Insufficient new directors

Upcoming dividend of US$0.41 per share

Chief Operating Officer - West recently sold €162k worth of stock

Now 23% undervalued after recent price drop

Third quarter 2022 earnings released: EPS: US$0.73 (vs US$0.66 in 3Q 2021)

U.S. Physical Therapy, Inc. Provides Operating Guidance for 2022

U.S. Physical Therapy, Inc. (NYSE : USPH) acquired 60% stake in Fourteen-clinic physical therapy practice for $19.3 million.

U.S. Physical Therapy, Inc. to Report Q3, 2022 Results on Nov 03, 2022

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 80% stake in Two-Clinic Physical Therapy Practice for $4.2 million.

Director recently bought €78k worth of stock

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired a 70% stake in six-clinic physical therapy practice in West Virginia and Pennsylvania for $3.5 million.

Independent Director recently bought €82k worth of stock

Independent Director recently bought €54k worth of stock

Second quarter 2022 earnings released: EPS: US$0.86 (vs US$0.82 in 2Q 2021)

U.S. Physical Therapy, Inc. Declares Quarterly Dividend, Payable on September 16, 2022

U.S. Physical Therapy, Inc. to Report Q2, 2022 Results on Aug 04, 2022

First quarter 2022 earnings released: EPS: US$0.68 (vs US$0.21 in 1Q 2021)

U.S. Physical Therapy, Inc. Declares Quarterly Dividend, Payable on June 14, 2022

Insufficient new directors

U.S. Physical Therapy, Inc. to Report Q1, 2022 Results on May 05, 2022

U.S. Physical Therapy, Inc., Annual General Meeting, May 17, 2022

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired a 70% stake in Madden and Gilbert Physical Therapy, LP from Chad Madden, Michael Gilbert and others for $11.5 million.

Independent Director recently sold €287k worth of stock

Chief Operating Officer of East recently sold €171k worth of stock

Upcoming dividend of US$0.41 per share

Full year 2021 earnings: Revenues and EPS in line with analyst expectations

U.S. Physical Therapy, Inc. Declares Quarterly Dividend, Payable on April 8, 2022

U.S. Physical Therapy, Inc. (NYSE:USPH) acquired 75% stake in Three-clinic physical therapy practice in South Carolina for approximately $3.7 million.

President recently sold €999k worth of stock

Chief Operating Officer of East recently sold €84k worth of stock

Third quarter 2021 earnings released: EPS US$0.78 (vs US$0.61 in 3Q 2020)

Independent Director recently sold €197k worth of stock

Upcoming dividend of US$0.38 per share

Independent Director recently bought €201k worth of stock

Second quarter 2021 earnings released: EPS US$0.82 (vs US$0.99 in 2Q 2020)