<SEC-DOCUMENT>0000885978-22-000016.txt : 20220323
<SEC-HEADER>0000885978-22-000016.hdr.sgml : 20220323
<ACCEPTANCE-DATETIME>20220323155547
ACCESSION NUMBER:		0000885978-22-000016
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		16
CONFORMED PERIOD OF REPORT:	20220314
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20220323
DATE AS OF CHANGE:		20220323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S PHYSICAL THERAPY INC /NV
		CENTRAL INDEX KEY:			0000885978
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HEALTH SERVICES [8000]
		IRS NUMBER:				760364866
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11151
		FILM NUMBER:		22763141

	BUSINESS ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
		BUSINESS PHONE:		7132977000

	MAIL ADDRESS:	
		STREET 1:		1300 WEST SAM HOUSTON PARKWAY
		STREET 2:		SUITE 300
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77043
</SEC-HEADER>
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<div>UNITED STATES</div>
</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">WASHINGTON, DC 20549</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;"> <br />
    </div>

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    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;">FORM <ix:nonNumeric name="dei:DocumentType" id="Fact_ccf5963c8f734f349ccf53b77069cc30" contextRef="c20220314to20220314">8-K</ix:nonNumeric>/A</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 18pt; font-weight: bold;"> <br />
    </div>

    <div style="text-align: left;"><br />
    </div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman', serif; font-size: 10pt;">&#160;</span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">CURRENT REPORT</span></div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Pursuant to Section&#160;13 or 15(d)</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">of the Securities Exchange Act of 1934</div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;"> <br />
    </div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Date of Report (Date of earliest event reported): <ix:nonNumeric name="dei:DocumentPeriodEndDate" id="Fact_3256087bc1224d29b30aeb1a9911ebdd" contextRef="c20220314to20220314" format="ixt:datemonthdayyearen">March 14, 2022</ix:nonNumeric></div>

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    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">(Exact name of registrant as specified in its charter)</div>

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    </div>

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    </div>

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    <td style="width: 1.12%; vertical-align: bottom;">&#160;</td>

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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">(I.R.S. Employer</div>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">(Address of Principal Executive Offices)</div>
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    <td style="width: 1.16%; vertical-align: bottom;">&#160;</td>

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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">(Zip Code)</div>
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    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Registrant's telephone number, including area code: (<ix:nonNumeric name="dei:CityAreaCode" id="Fact_712abdbf015144438191a3a4b4ab908f" contextRef="c20220314to20220314">713</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_30adcabc05384b5896df7be30e1c784d" contextRef="c20220314to20220314">297-7000</ix:nonNumeric></div>

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    <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
      following provisions ( <span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="text-decoration: underline;">see</span></span> General Instruction A.2. below):</div>

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    <td style="width: 93.36%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
          </td>

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    <td style="width: 6.64%; vertical-align: top;">&#160;</td>

    <td style="width: 93.36%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 6.64%; vertical-align: top;">
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    <td style="width: 93.36%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</div>
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    <td style="width: 6.64%; vertical-align: top;">&#160;</td>

    <td style="width: 93.36%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 6.64%; vertical-align: top;">
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            </div>
          </td>

    <td style="width: 93.36%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</div>
          </td>

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    <td style="width: 6.64%; vertical-align: top;">&#160;</td>

    <td style="width: 93.36%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 6.64%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:PreCommencementIssuerTenderOffer" id="Fact_09cb62d5192a4b2b8854c563e19dfa33" contextRef="c20220314to20220314" format="ixt-sec:boolballotbox">&#x2610;</ix:nonNumeric><br />
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    <td style="width: 93.36%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</div>
          </td>

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    <div style="text-align: left;"><br />
    </div>

    <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Securities registered pursuant to Section 12(b) of the Act:</div>

    <div><br />
    </div>

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    <td style="width: 33.64%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #231F20; font-family: 'Times New Roman', serif; font-size: 10pt;">Title of each class</div>
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    <td style="width: 32.72%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #231F20; font-family: 'Times New Roman', serif; font-size: 10pt;">Trading Symbol(s)</div>
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    <td style="width: 33.64%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
            <div style="text-align: center; color: #231F20; font-family: 'Times New Roman', serif; font-size: 10pt;">Name of each exchange on which registered</div>
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    <td style="width: 33.64%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
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    <td style="width: 32.72%; vertical-align: middle; border-left: #000000 2px solid; border-right: #000000 2px solid; border-top: #000000 2px solid; border-bottom: #000000 2px solid;">
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_129a806f45d4439bae820891ec9a6dab" contextRef="c20220314to20220314" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></div>
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    <div style="text-align: left; margin-right: 0.8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933
      (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>

    <div><br />
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    <td style="width: 18.34%; vertical-align: top;">&#160;</td>

    <td style="width: 22.5%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Emerging growth company</div>
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    <td style="width: 59.16%; vertical-align: top;">
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    <div><br />
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    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">


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    <td style="width: 80.84%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
              with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.</div>
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    <td style="width: 19.16%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#9723;</div>
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<div>&#160; <br /></div>

        <div style="text-align: left; margin-left: 4.5pt; font-family: 'Times New Roman',serif; font-size: 10pt; font-weight: bold;">Explanatory Note.</div>

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        <div style="text-align: left; margin-left: 18pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="font-weight: normal;">This Amendment No. 1 to Current Report on Form 8-K originally filed by U.S. Physical Therapy, Inc. (the
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            in this report contains the corrected percentage (40% versus 50%) for the subjective bonus portion included in the Discretionary Cash/RSA Bonus Plan for Senior Management for 2022 for the Chief Financial Officer (&#8220;CFO&#8221;) and Executive Vice
            President, General Counsel and Secretary (&#8220;EVP&#8221;) as it relates to the allowable percentage of the individual annual base salary under such the Company&#8217;s Discretionary Cash/RSA Bonus Plan, as approved by the Compensation Committee of the Board
            of Directors on March 14, 2022.&#160; The Exhibit 99.1 included in this report replaces in its entirety Exhibit 99.4 included in the Form 8-K, as defined above</span>.</div>

      </div>

    </div>

    <div><br />
    </div>

    <div><br />
    </div>

    <div><br /></div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">ITEM 9.01&#160;&#160; FINANCIAL STATEMENTS AND EXHIBITS</div>

    <div style="text-align: left;"><br />
    </div>

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    <td style="width: 5.78%; vertical-align: middle;">&#160;</td>

    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: middle;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 5.78%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: bottom; border-bottom: #000000 2px solid;">
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          </td>

  </tr>

  <tr>

    <td style="width: 5.78%; vertical-align: middle;">&#160;</td>

    <td colspan="2" style="width: 94.22%; vertical-align: middle;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 5.78%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><a href="ex99-1htm.htm">99.1*</a></div>
          </td>

    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">&#160;U. S. Physical Therapy, Inc. Objective Long-Term Incentive Plan for Senior Management for 2022, effective March 14, 2022 (as originally
              filed in the Current Report on Form 8-K filed March 18, 2022).</div>
          </td>

  </tr>


</table>
    <div style="text-align: left;">
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  <tr>

    <td style="width: 5.78%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><a href="ex99-2.htm">99.2*</a></div>
            </td>

    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">&#160;U. S. Physical Therapy, Inc. Discretionary Long-Term Incentive Plan for Senior Management for 2022, effective March 14, 2022 (as
                originally filed in the Current Report on Form 8-K filed March 18, 2022).</div>
            </td>

  </tr>


</table>
    </div>

    <div style="text-align: left;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">


  <tr>

    <td style="width: 5.78%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><a href="ex99-3.htm">99.3*</a></div>
            </td>

    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: top;">U. S. Physical Therapy, Inc. Objective Cash/RSA Bonus Plan for Senior Management for 2022, effective March 14, 2022 (as originally filed in the Current Report on Form 8-K filed March 18, 2022).<br />
            </td>

  </tr>


</table>
    </div>

    <div style="text-align: left;">
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;">


  <tr>

    <td style="width: 5.78%; vertical-align: top;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><a href="ex99-4.htm">99.4*</a></div>
            </td>

    <td style="width: 0.22%; vertical-align: bottom;">&#160;</td>

    <td style="width: 94%; vertical-align: top;">U. S. Physical Therapy, Inc. Discretionary Cash/RSA Bonus Plan for Senior Management for 2022, effective March 14, 2022.<br />
            </td>

  </tr>


</table>
    </div>

    <div style="text-align: left;"><br />
    </div>

    <div style="text-align: left;">* Filed herewith<br />
    </div>

    <div style="text-align: left;"><br />
    </div>

    <div style="text-align: left;"><br />
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    <div><span style="font-family: 'Times New Roman';"> </span></div>

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    </div>

    <div><br /></div>

    <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br />
    </div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">SIGNATURE</div>

    <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</div>

    <div style="text-align: left;"><br />
    </div>

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    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2.68%; vertical-align: middle;">&#160;</td>

    <td style="width: 0.92%; vertical-align: bottom;">&#160;</td>

    <td style="width: 36.68%; vertical-align: middle;">&#160;</td>

    <td style="width: 8.66%; vertical-align: middle;">&#160;</td>

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    <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.95%; vertical-align: top;">&#160;</td>

    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

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            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC.</div>
          </td>

    <td style="width: 8.66%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 45.17%; vertical-align: middle;">&#160;</td>

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    <td colspan="2" style="width: 3.56%; vertical-align: middle;">&#160;</td>

    <td colspan="2" style="width: 37.59%; vertical-align: middle;">&#160;</td>

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    <td style="width: 45.17%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Dated: March 23, 2022<br />
            </div>
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    <td style="width: 3.95%; vertical-align: top;">&#160;</td>

    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2.68%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">By:</div>
          </td>

    <td style="width: 0.92%; vertical-align: bottom;">&#160;</td>

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            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">/s/ CAREY HENDRICKSON</div>
          </td>

    <td style="width: 8.66%; vertical-align: top;">&#160;</td>

  </tr>

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    <td style="width: 45.17%; vertical-align: top;">&#160;</td>

    <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.95%; vertical-align: top;">&#160;</td>

    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2.68%; vertical-align: top;">&#160;</td>

    <td style="width: 0.92%; vertical-align: bottom;">&#160;</td>

    <td style="width: 36.68%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Carey Hendrickson<br />
            </div>
          </td>

    <td style="width: 8.66%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 45.17%; vertical-align: top;">&#160;</td>

    <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.95%; vertical-align: top;">&#160;</td>

    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2.68%; vertical-align: top;">&#160;</td>

    <td style="width: 0.92%; vertical-align: bottom;">&#160;</td>

    <td style="width: 36.68%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Chief Financial Officer</div>
          </td>

    <td style="width: 8.66%; vertical-align: top;">&#160;</td>

  </tr>

  <tr>

    <td style="width: 45.17%; vertical-align: top;">&#160;</td>

    <td style="width: 1.07%; vertical-align: bottom;">&#160;</td>

    <td style="width: 3.95%; vertical-align: top;">&#160;</td>

    <td style="width: 0.88%; vertical-align: bottom;">&#160;</td>

    <td style="width: 2.68%; vertical-align: top;">&#160;</td>

    <td style="width: 0.92%; vertical-align: bottom;">&#160;</td>

    <td style="width: 36.68%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">(duly authorized officer and principal financial and accounting officer)</div>
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    <td style="width: 8.66%; vertical-align: top;">&#160;</td>

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<DOCUMENT>
<TYPE>EX-99.1
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<FILENAME>ex99-1htm.htm
<TEXT>
<html>
  <head>
    <title></title>
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    <div style="text-align: center; text-indent: 36pt; margin-left: 288pt; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Exhibit 99.1</div>
    <div style="margin-bottom: 8pt;"><br>
    </div>
    <div style="text-align: center; margin-bottom: 8pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC. (&#8220;USPH&#8221;)</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">OBJECTIVE LONG-TERM INCENTIVE PLAN FOR SENIOR MANAGEMENT</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">FOR 2022 (&#8220;Objective LTIP&#8221;)</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Purpose</u></font>:&#160; To
      incentivize and retain Executives eligible for this Objective LTIP, to achieve certain corporate earnings criteria and reward Executives when such criteria are achieved, and to align the long-term interests of Executives and shareholders of USPH by
      compensating the Executives in shares of USPH stock that vest over time, thereby increasing the Executives&#8217; equity interest in USPH.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Effective Date</u></font>:&#160; The
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    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Eligibility</u></font>:&#160; The
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      President, General Counsel and Secretary. Terms not defined herein shall have the meaning of such term as defined in the U.S. Physical Therapy, Inc. 2003 Stock Incentive Plan (as amended) (the &#8220;2003 Plan&#8221;).</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Vesting and Other Terms and
          Provisions</u></font>:&#160; Under this Objective LTIP, Executives have an opportunity to receive Restricted Stock Awards (&#8220;RSAs&#8221;) under the 2003 Plan, to be granted by the Compensation Committee of the Board of Directors of USPH (as the term
      &#8220;Committee&#8221; is defined in Section 1.8 of the 2003 Plan) in the first quarter of 2023. The Executive must be employed by USPH or its affiliates from the Effective Date through the date of the grant to receive a RSA. All RSAs shall be granted subject
      to the terms of the 2003 Plan and the specific terms and conditions (including without limitation, restrictions in transfer and substantial risk of forfeiture) as determined by the Committee in its sole discretion. RSAs that are granted under this
      Objective LTIP will vest evenly over 16 quarters, beginning April 1, 2023 and ending January 1, 2027, subject to acceleration of vesting in the Committee&#8217;s sole discretion and based on the occurrence of certain events, as more specifically defined in
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    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Administration</u></font>: The
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      reported in 2022 related to this and all other management incentive plans. The maximum amount of RSAs that may be granted under this Objective LTIP shall be as follows: CEO = 10,000 shares; CFO = 3,750 shares; COO West = 5,000 shares; COO&#160; East =
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            <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Performance Goals</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2022</div>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"> <font style="font-family: 'Times New Roman', serif; font-size: 10pt;">After-tax operating results</font></div>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">That May Be Awarded</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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          <td valign="bottom" style="vertical-align: middle;" colspan="2">
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">CEO, COOs</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom;" colspan="1" class="cftguttercell">&#160;</td>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1" class="cftfncell">&#160;</td>
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            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$41,444,797</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">24.0</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell"><br>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">34.0</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">27.2</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$41,838,525</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">38.0</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">30.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,047,717</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">42.0</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">33.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,257,956</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">46.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">36.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,469,246</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">50.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">40.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,681,582</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">56.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">44.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><br>
            </div>
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          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,895,000</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">62.0</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">49.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,109,475</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">68.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">54.4</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,325,022</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">76.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">60.8</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,541,647</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">84.0</div>
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            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">67.2</div>
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          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
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        <tr>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell"><br>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,759,356</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">92.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; width: 1%;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; width: 9%;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">73.6</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>
        <tr>
          <td valign="bottom" style="vertical-align: bottom; background-color: #CCEEFF;" colspan="2">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; $43,978,152 AND OVER&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftfncell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">100.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftguttercell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftcurrcell">&#160;</td>
          <td valign="bottom" nowrap="nowrap" style="vertical-align: bottom; text-align: right; background-color: #CCEEFF;" colspan="1" class="cftnumcell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">80.0</div>
          </td>
          <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; background-color: #CCEEFF;" colspan="1" class="cftfncell">
            <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
          </td>
        </tr>

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<DOCUMENT>
<TYPE>EX-99.99.2
<SEQUENCE>3
<FILENAME>ex99-2.htm
<TEXT>
<html>
  <head>
    <title></title>
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    <div style="text-align: center; text-indent: 324pt; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Exhibit 99.2</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC. (&#8220;USPH&#8221;)</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">DISCRETIONARY LONG-TERM INCENTIVE PLAN FOR SENIOR MANAGEMENT</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">FOR 2022 (&#8220;Discretionary LTIP&#8221;)</div>
    <div style="margin-top: 12pt; margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Purpose</u></font>:&#160; To
      incentivize Executives eligible for this Discretionary LTIP to achieve certain strategic, operational, business growth &amp; development and other criteria and reward Executives when such criteria are achieved, and to align the long-term interests of
      Executives and shareholders of USPH by compensating the Executives in shares of USPH stock that vest over time, thereby increasing the Executives&#8217; equity interest in USPH.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Effective Date</u></font>:&#160; This
      Discretionary LTIP is established effective March 14, 2022.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Description of Discretionary
          Awards Criteria</u></font>:&#160; In addition to any other awards under the U.S. Physical Therapy, Inc. 2003 Stock Incentive Plan (as amended) (the &#8220;2003 Plan&#8221;) or any other long term incentive plan or bonus plan, policy or program of USPH, and not in
      lieu of any other such award or payment, the Compensation Committee of the Board of Directors of USPH (as the term &#8220;Committee&#8221; is defined in Section 1.8 of the 2003 Plan) may, in its judgment and at its sole discretion, grant Restricted Stock Awards
      (&#8220;RSAs&#8221;) under the 2003 Plan, based on its evaluation of an Executive&#8217;s performance and the collective corporate performance for 2022. The factors to be considered include:</div>
    <div style="text-align: left; text-indent: -180pt; margin-left: 180pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>CEO</u></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd7c6657e2fb742999b1f8b602848f798" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Company Leadership</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zee6e1729c5334f93ab042161211a99e3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Cost Aligned with Revenue and Volume Growth</div>
            </td>
          </tr>

      </table>
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    <div>
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              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Continued development of COO&#8217;s (or direct reports)</div>
            </td>
          </tr>

      </table>
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    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Maintain effective Compliance Culture</div>
            </td>
          </tr>

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    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Acquisition, Tuck in and De Novo Development</div>
            </td>
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    <div>
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            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Service line Development</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
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    <div style="text-align: left; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>CFO</u></div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful integration of Contracting department and improved rates</div>
            </td>
          </tr>

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    <div>
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              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful planning and execution for key reporting relationships</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc13907ca52124d79902caf17284232d0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective communication to shareholders and Board, including guidance, updates and financial modeling</div>
            </td>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Billing office effectiveness</div>
            </td>
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    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Ensure effectiveness and flexibility related to the Company&#8217;s capital structure</div>
            </td>
          </tr>

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    <div>
      <table cellspacing="0" cellpadding="0" id="za4993f619da545f38322f2f28b81bf08" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful completion of annual audit</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Acquisition modeling and integration</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: -180pt; margin-left: 180pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>COO&#8217;s</u></div>
    <div>
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          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective transition and integration of new partnerships, addition of tuck ins, new facility openings</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zaffaf25520104a7493dd46b8a3f89049" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Cost Control aligned with revenue and volume growth</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb04d6f19724f419291b4c6fb01a6a5e1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Leadership Development and Succession Planning for Field Operation&#8217;s team</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z694849f00ce140669ff6d6e7651e7f85" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Development of skills associated with acquisition negotiation</div>
            </td>
          </tr>

      </table>
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    <div>
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          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective interaction and participation in investor facing meetings</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Compliance</div>
            </td>
          </tr>

      </table>
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    <div>
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          <tr>
            <td style="width: 58.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 40.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Execution and development of new opportunities also including new programs as well as the IIP business</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
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    <div style="text-align: left; text-indent: -180pt; margin-left: 180pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>EVP</u></div>
    <div>
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          <tr>
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              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Coordination with CEO and Vice President of Development to attract and secure acquisition candidates</div>
            </td>
          </tr>

      </table>
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          <tr>
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              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful completion of acquired partnerships</div>
            </td>
          </tr>

      </table>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Customer service and responsiveness to partners and internal departments</div>
            </td>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Corporate entity recordkeeping and organization for Company and subsidiaries</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
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          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Coordinate COOs to assist in successful negotiation and legal framework around new opportunities</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z67897ef990234ae49675032a48122529" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 54pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 36pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Compliance &#8211; assist Chief Compliance Officer on compliance related matters</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Participants</u></font>:&#160; Executives
      who will have an opportunity to be granted RSAs under this Discretionary LTIP shall be the Chief Executive Officer (&#8220;CEO&#8221;), the Chief Financial Officer (&#8220;CFO&#8221;), the Chief Operation Officer West (&#8220;COO West&#8221;), the Chief Operation Officer East (&#8220;COO
      East&#8221;) and Executive Vice President, General Counsel and Secretary (&#8220;EVP&#8221;). The following shall be the maximum amount of shares that may be awarded under this program to each specified participant: CEO = up to 10,000 shares; CFO = up to 3,750 shares;
      COO West = up to 5,000 shares; COO East = up to 5,000 shares, and EVP = up to 3,750 shares</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Administration</u></font>:&#160; The
      Committee shall administer this Discretionary LTIP. The Committee shall have the exclusive authority to interpret and construe the terms of this Discretionary LTIP and make all determinations under this plan, and its decisions shall be final and
      binding in all persons. The Committee shall set out the vesting and other terms of an RSA in writing</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Award Grant Date</u></font>:&#160; Any
      RSAs granted under this program shall be granted under the 2003 Plan in the first quarter of 2023 after the Committee determines the amount, if any, of the RSAs to be granted to each participant. In addition, RSAs shall be granted only if the
      participant remains employed by USPH (or its affiliates) continuously from the Effective Date through the date of the grant of the RSA. All RSAs shall be granted in writing and subject to the terms of the 2003 Plan and the specific terms and
      conditions (including without limitation, restrictions in transfer and substantial risk of forfeiture) as determined by the Committee in its sole discretion. RSAs that are granted under this Objective LTIP will vest evenly over 16 quarters, beginning
      April 1, 2023 and ending January 1, 2027, subject to acceleration of vesting based on the occurrence of certain events, as more specifically defined in the applicable Restricted Stock Agreement between the Executive and USPH and/or in the Executive&#8217;s
      employment agreement with USPH.</div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex99-3.htm
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    <div style="text-align: center; text-indent: 36pt; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Exhibit 99.3</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC. (&#8220;USPH&#8221;)</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">OBJECTIVE CASH/RSA BONUS PLAN FOR SENIOR MANAGEMENT</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">FOR 2022 (&#8220;OBJECTIVE BONUS PLAN&#8221;)</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Purpose</u></font>:&#160; To
      incentivize and retain Executives eligible for this Objective Cash/RSA Bonus Plan to achieve certain corporate earnings criteria and reward Executive Officers of USPH when such criteria are achieved, and to align the long-term interests of Executives
      and shareholders of USPH.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Effective Date</u></font>:&#160; The
      effective date of this Objective Bonus Plan and the establishment of performance goals and formula for the amount payable hereunder is March 14, 2022.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Eligibility</u></font>:&#160; The
      Executives of USPH eligible for this Objective Bonus Plan are the Chief Executive Officer (&#8220;CEO&#8221;), the Chief Financial Officer (&#8220;CFO&#8221;), the Chief Operating Officer &#8211; West (&#8220;COO - West&#8221;), the Chief Operating Officer East (&#8220;COO - East&#8221;), and the
      Executive Vice President, General Counsel and Secretary (&#8220;EVP&#8221;).</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;"><u>Description, Conditions and
          Payment Date</u>:&#160; Under this Objective Bonus Plan, Executives have an opportunity to receive</font><font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #FF0000;">&#160;</font><font style="font-family: 'Times New Roman', serif; font-size: 10pt; color: #000000;">either a &#8220;Cash Bonus&#8221; Award or to be granted a Restricted Stock Award (&#8220;RSA&#8221;) having a value at the time of the Award of up to a specified percentage of the Executive&#8217;s annual base salary for 2022 (&#8220;Base&#8221;) as
        Performance Awards under the 2003 Plan. The Compensation Committee of the Board of Directors of USPH (the &#8220;Compensation Committee&#8221;) will, in its sole discretion, determine the amount and type of award to be made in the first quarter of 2023. No
        Executive will be entitled to any type of award or have a legally binding right to an award until the Compensation Committee, in its sole discretion, determines an award will be made, the amount and the type of award to be made.&#160; No Executive will
        be entitled to elect between the Cash Bonus and RSA.&#160; Before any Cash Bonus is made or an RSA is awarded under this Objective Bonus Plan, the Compensation Committee shall certify in writing that the performance goals have been obtained.&#160; Any Cash
        Bonus award made hereunder shall be paid in a lump-sum amount, and any RSA granted, in each case no later than March 15, 2023. The Executive must be continuously employed by USPH or its affiliates from the Effective Date through December 31, 2022
        to receive the Cash Bonus or an RSA.</font></div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Administration</u></font>:&#160; The
      Committee has authority to administer this Objective Bonus Plan, grant awards, determine whether any such awards shall be made as a Cash Bonus Award or as an RSA, and decide all questions of interpretation. The Committee shall set out the vesting and
      other terms of an RSA in writing. The Committee&#8217;s determinations and interpretations under this Objective Bonus Plan shall be final and binding on all persons.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Objective Bonus Calculation</u></font>:&#160;

      Based on 2022 USPH consolidated after-tax operating results, a non-Generally Accepted Accounting Principles measure, which equals consolidated after-tax net income (i) before charges/credits for changes in Redeemable Non-Controlling interests, and
      any other extraordinary items, and (ii) after the compensation expense required to be reported in 2022 related to this and all other management incentive plans. The goals and amounts payable are as follows:</div>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2022</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom;">&#160;</td>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Potential Bonus Value</div>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"> After-tax operating results</div>
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              <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"> CEO COOs</div>
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              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"> CFO, EVP</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
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            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"> (Compared to Base)</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
            <td valign="bottom" colspan="2" style="vertical-align: bottom; border-bottom: #000000 solid 2px;">
              <div style="text-align: right; color: #000000; font-family: Calibri, sans-serif; font-size: 11pt;">(Compared to Base)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
          </tr>
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            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
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              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$41,444,797</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">15.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">12.00</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$41,630,373</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">17.00</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">13.60</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$41,838,525</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">19.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">15.20</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,047,717</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">21.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">16.80</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,257,956</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">23.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">18.40</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,469,246</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">25.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">20.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,681,582</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">28.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">22.40</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$42,895,000</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">31.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">24.80</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,109,475</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">34.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">27.20</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,325,022</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">38.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">30.40</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,541,647</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">42.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">33.60</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,759,356</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">46.00</div>
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            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">36.70</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$43,978,154</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">50.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">40.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$44,198,043</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">54.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">43.20</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$44,419,033</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">58.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">46.40</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$44,641,128</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">62.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">49.60</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$44,864,334</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">66.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">52.80</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$45,008,655</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">70.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">56.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">$45,314,099</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">75.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftguttercell" colspan="1" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftcurrcell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">60.00</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;">
              <div style="color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">%</div>
            </td>
          </tr>

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    <br>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>No Trust or Fund</u></font>:&#160;
      There shall be no separate trust or fund for this Objective Bonus Plan. Any amount payable hereunder shall be an unfunded obligation of USPH and shall be payable out of the general assets of USPH and no amount payable shall be assignable by the
      participant.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">All RSAs shall be granted subject to the terms of the 2003 Plan and the specific terms and conditions
      (including without limitation, restrictions in transfer and substantial risk of forfeiture) as determined by the Compensation Committee in its sole discretion.</div>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>ex99-4.htm
<TEXT>
<html>
  <head>
    <title></title>
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    </div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">Exhibit 99.4</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC. (&#8220;USPH&#8221;)</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">DISCRETIONARY CASH/RSA BONUS PLAN FOR SENIOR MANAGEMENT</div>
    <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt; font-weight: bold;">FOR 2022 (&#8220;DISCRETIONARY BONUS PLAN&#8221;)</div>
    <div style="margin-top: 12pt; margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Purpose</u></font>:&#160; The purpose
      of this Discretionary Bonus Plan is to retain and incentivize the Executive Officers of USPH by providing an annual bonus opportunity to the Executives to reward them when certain individual and corporate subjective performance measures are achieved.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Participants</u></font>:&#160;
      Executives of USPH who shall be &#8220;Participants&#8221; in this Discretionary Bonus Plan are the Chief Executive Officer (&#8220;CEO&#8221;), Chief Financial Officer (&#8220;CFO&#8221;), Chief Operating Officer &#8211; West (&#8220;COO &#8211; West&#8221;), Chief Operating Officer East (&#8220;COO - East&#8221;), and
      Executive Vice President, General Counsel and Secretary (&#8220;EVP&#8221;). In addition to awards under any other plan or program at USPH for which such Executives are eligible and not in lieu thereof, each Participant in this Discretionary Bonus Plan has the
      potential to be awarded a &#8220;Subjective Bonus&#8221;, pursuant to the subjective criteria as set forth below, in an amount of up to 50% of the annual base salary for 2022 for the CEO,COO &#8211; West and COO &#8211; East and in an amount of up to 40% of the annual base
      salary for 2022 for the CFO and EVP. The Subjective Bonus shall be made as either a &#8220;Cash Bonus&#8221; Award or a Restricted Stock Award (&#8220;RSA&#8221;), as determined in the sole discretion of the Compensation Committee of the Board of Directors of USPH (the
      &#8220;Committee&#8221;).&#160; The Committee shall have the sole discretion to determine the amount and type of award (whether a Cash Bonus Award or an RSA) will be made.&#160; No Participant shall be entitled to a Subjective Bonus and shall have no legally binding right
      to a Subjective Bonus until the Committee determines the amount and type of award to be made.&#160; The Executive must be continuously employed by USPH or its affiliates from the Effective Date through December 31, 2022 to receive the Cash Bonus or an
      RSA. No Participant will be entitled to elect any type of award to be made.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Effective Date</u></font>:&#160; This
      Discretionary Bonus Plan is established effective March 14, 2022.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Administration</u></font>:&#160; The
      Committee shall administer this Discretionary Bonus Plan, and shall have the sole authority to interpret and construe all of the terms of this Discretionary Bonus Plan, establish the criteria for awards, determine the amounts payable under this plan,
      and determine whether such awards under this plan shall be made as a Cash Bonus Award or as an RSA. The amount, if any, of the Subjective Bonus payable to each participant in this Discretionary Bonus Plan shall be determined by the Committee in its
      sole discretion based upon subjective criteria described below. All decisions of the Committee shall be final and binding on all persons.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Award and Payment Date</u></font>:&#160;
      The Committee shall make award determinations in the first quarter of 2023.&#160; After the Committee has determined that goals have been met and has calculated the awards to be made hereunder, the Cash Bonus Award shall be paid, and the RSA shall be
      granted to the applicable Participant in the first quarter of 2023 but no later than March 15, 2023. A Subjective Bonus shall be payable only if the Participant remains continuously employed from the Effective Date through the date of the
      determination of the amount payable by the Committee.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>Subjective Bonus Calculation</u></font>:&#160;
      The Subjective Bonus criteria that have been established by the Committee and shall be used in the Committee&#8217;s sole discretion to grant an award of a Subjective Bonus having a value as of the date of the award of up to the above-specified percentage
      of Base for each participant are as follows:</div>
    <div style="text-align: left; text-indent: -144pt; margin-left: 180pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>CEO</u></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zbe9eb0757d2540d9a72e405a382ef433" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Company Leadership</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd4beb509561643e7994076e85e1e1389" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Cost Aligned with Revenue and Volume Growth</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z24115222bfdb4c13a8a07876409a2485" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Continued development of COO&#8217;s (or direct reports)</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4e19f0ba1bdc49c0bf5923e180af9405" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Maintain effective Compliance Culture</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="za06ee6f8597f43889d0f96cb963bf0c7" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Acquisition, Tuck in and De Novo Development</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zdfda80a4c72e4eaaaff1ea6a98213314" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Service line Development</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: 36pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>CFO</u></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z29a2a3ca18214981a1e57d22fe3b9a6b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful integration of Contracting department and improved rates</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zae2cfee12ced47dfa791b4b00723686e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful planning and execution for key reporting relationships</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z681e3377629f4137bd7546eb73ee32a3" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective communication to shareholders and Board, including guidance, updates and financial modeling</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2a788d5595c14fdf999c8bc6dee9afc5" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Billing office effectiveness</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3bc5d099f0c347b49f5f531780816697" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Ensure effectiveness and flexibility related to the Company&#8217;s capital structure</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf47157debb9d4efca75995564c16e136" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful completion of annual audit</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf71fab45f480435dab2446b218881d43" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Acquisition modeling and integration</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; text-indent: -144pt; margin-left: 180pt; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>COO&#8217;s</u></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z48da5dd467ac4bf480f24d486ff73a3d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective transition and integration of new partnerships, addition of tuck ins, new facility openings</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z51a8ed7f35ff4531ad116b1b2806f54a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Cost Control aligned with revenue and volume growth</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z99e8a2eba25d4f2fa167cd1d3723a481" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Leadership Development and Succession Planning for Field Operation&#8217;s team</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zbf21769a9c4648629f82cfa4bc66195e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Development of skills associated with acquisition negotiation</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc201a8b29ca844578bb527eab1b7cb7e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective interaction and participation in investor facing meetings</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zfae96036407648b29315de9040a1dee4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Compliance</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z76e47bfc1ce3415b8468a86850dd3455" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 76.5pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 58.5pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">7.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Execution and development of new opportunities also including new programs as well as the IIP business</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="text-align: left; text-indent: -144pt; margin-left: 180pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><u>EVP</u></div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd826cca7af344c5291160fa42432efbb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Coordination with CEO and Vice President of Development to attract and secure acquisition candidates</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="ze07d1171238347d78ec963072beb56ca" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Successful completion of acquired partnerships</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z56a29415629f46f88cbfd292398b2aec" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Customer service and responsiveness to partners and internal departments</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z11c093f2908d4edea13de87cd2610430" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Corporate entity recordkeeping and organization for Company and subsidiaries</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3864cae5fa714366b28cbe73f9c70edd" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Coordinate COOs to assist in successful negotiation and legal framework around new opportunities</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2c292e06516844eab8cde88928c9bb66" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 12pt; margin-bottom: 12pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 72pt; vertical-align: top; align: right;">
              <div style="text-align: left; margin-left: 54pt; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: left; margin-top: 12pt; margin-bottom: 12pt; font-family: 'Times New Roman', serif; font-size: 10pt;">Compliance &#8211; assist Chief Compliance Officer on compliance related matters</div>
            </td>
          </tr>

      </table>
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    <div style="margin-top: 12pt; margin-bottom: 12pt;"><br>
    </div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 10pt;"><u>No Trust or Fund</u></font>:&#160;
      There shall be no separate trust or fund for this Discretionary Bonus Plan. Any amount payable hereunder shall be an unfunded obligation of USPH and shall be payable out of the general assets of USPH and no amount payable shall be assignable by the
      participant.</div>
    <div style="text-align: justify; margin-top: 12pt; margin-bottom: 12pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">All RSAs shall be granted subject to the terms of the 2003 Plan and the specific terms and conditions
      (including without limitation, restrictions in transfer and substantial risk of forfeiture) as determined by the Compensation Committee in its sole discretion</div>
    <div style="margin-bottom: 8pt;"><br>
    </div>
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    <link:label xlink:type="resource" xlink:label="dei_EntityAddressAddressLine3_lbl" xlink:role="http://www.xbrl.org/2003/role/label" xlink:title="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US" id="dei_EntityAddressAddressLine3_lbl">Entity Address, Address Line Three</link:label>
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressCityOrTown" xlink:label="EntityAddressCityOrTown" xlink:title="EntityAddressCityOrTown" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressPostalZipCode" xlink:label="EntityAddressPostalZipCode" xlink:title="EntityAddressPostalZipCode" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_NoTradingSymbolFlag" xlink:label="NoTradingSymbolFlag" xlink:title="NoTradingSymbolFlag" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
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  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>usph-20220314_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by EDGARfilings PROfile 8.0.0.0 Broadridge-->
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="DocumentFiscalPeriodFocus" xlink:title="DocumentFiscalPeriodFocus" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="DocumentFiscalPeriodFocus" xlink:title="presentation: CoverAbstract to DocumentFiscalPeriodFocus" order="23.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCentralIndexKey" xlink:label="EntityCentralIndexKey" xlink:title="EntityCentralIndexKey" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="EntityCentralIndexKey" xlink:title="presentation: CoverAbstract to EntityCentralIndexKey" order="24.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12bTitle" xlink:label="Security12bTitle" xlink:title="Security12bTitle" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="Security12bTitle" xlink:title="presentation: CoverAbstract to Security12bTitle" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_TradingSymbol" xlink:label="TradingSymbol" xlink:title="TradingSymbol" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="TradingSymbol" xlink:title="presentation: CoverAbstract to TradingSymbol" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityExchangeName" xlink:label="SecurityExchangeName" xlink:title="SecurityExchangeName" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="SecurityExchangeName" xlink:title="presentation: CoverAbstract to SecurityExchangeName" order="27.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
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</head>
<body>
<span style="display: none;">v3.22.1</span><table class="report" border="0" cellspacing="2" id="idm140664354063208">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Document and Entity Information<br></strong></div></th>
<th class="th"><div>Mar. 14, 2022</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar. 14,  2022<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">U S PHYSICAL THERAPY INC /NV<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">NV<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-11151<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">76-0364866<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1300 West Sam Houston Parkway South<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 300<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Houston<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">TX<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">77042<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">713<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">297-7000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000885978<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, $.01 par value<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">USPH<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
