<SEC-DOCUMENT>0001398344-24-002805.txt : 20240213
<SEC-HEADER>0001398344-24-002805.hdr.sgml : 20240213
<ACCEPTANCE-DATETIME>20240213160532
ACCESSION NUMBER:		0001398344-24-002805
CONFORMED SUBMISSION TYPE:	SC 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240213
DATE AS OF CHANGE:		20240213

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			U S PHYSICAL THERAPY INC /NV
		CENTRAL INDEX KEY:			0000885978
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-HEALTH SERVICES [8000]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				760364866
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-42530
		FILM NUMBER:		24625716

	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

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC
		CENTRAL INDEX KEY:			0001021223
		ORGANIZATION NAME:           	
		IRS NUMBER:				954575414
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS, SUITE 1110
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067
		BUSINESS PHONE:		3105562721

	MAIL ADDRESS:	
		STREET 1:		2000 AVENUE OF THE STARS, SUITE 1110
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90067

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KAYNE ANDERSON INVESTMENT MANAGEMENT LLC
		DATE OF NAME CHANGE:	19990326

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KAIM TRADITIONAL L L C
		DATE OF NAME CHANGE:	19980223
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13G/A
<SEQUENCE>1
<FILENAME>fp0086862-67_sc13ga.htm
<TEXT>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 13G</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO RULE 13d-1(b), (c), AND (d) AND AMENDMENTS
THERETO FILED</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO RULE 13d-2(b)</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(AMENDMENT NO. 6)*</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">U.S. PHYSICAL THERAPY, INC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Issuer)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Common Stock</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Title of Class of Securities)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">90337L108</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(CUSIP Number)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">December 31, 2023</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 3pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Date of Event which Requires Filing of this Statement)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">[X] Rule 13d-1(b)</P>

<P STYLE="word-spacing: 1.2pt; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">[&nbsp; ] Rule 13d-1(c)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; word-spacing: 1.2pt; text-indent: 0.5in">[&nbsp; ] Rule 13d-1(d)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; word-spacing: 1.2pt; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><SUP>*</SUP></TD><TD STYLE="text-align: justify">The remainder of this cover page shall be filled out for a reporting
person&rsquo;s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter disclosures provided in a prior cover page.</TD>
</TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The information required on the remainder of this
cover page shall not be deemed to be &ldquo;filed&rdquo; for the purpose of Section 18 of the Securities Exchange Act of 1934 (&ldquo;Act&rdquo;)
or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see
the Notes).</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 2 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD>
    <TD STYLE="width: 85%; border-top: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS OR</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Kayne Anderson Rudnick Investment Management, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">95-4575414</P></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions)</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(a) [&nbsp; ]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(b) [&nbsp; ]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">A California Limited Liability Company</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="width: 20%; border-left: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPORTING</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERSON WITH</P></TD>
    <TD STYLE="vertical-align: top; width: 5%; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 75%; border-bottom: black 1pt solid; border-right: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">337,812</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,001,209</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">364,557</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,001,209</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-left: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD>
    <TD STYLE="width: 85%; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,365,766</P></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions) [&nbsp; ]</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">9.11%</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (see instructions)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">IA</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 3 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD>
    <TD STYLE="width: 85%; border-top: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS OR</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Virtus Investment Advisers, Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">04-2453743</P></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions)</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(a) [&nbsp; ]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(b) [&nbsp; ]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Massachusetts</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="width: 20%; border-left: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NUMBER OF</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BENEFICIALLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OWNED BY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EACH</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REPORTING</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PERSON WITH</P></TD>
    <TD STYLE="vertical-align: top; width: 5%; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 75%; border-bottom: black 1pt solid; border-right: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,001,209</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,001,209</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-left: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD>
    <TD STYLE="width: 85%; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1,001,209</P></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions) [&nbsp; ]</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">6.68%</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (see instructions)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">IA</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOOTNOTES - The amounts reported on this page
are also included in the amounts reported by Kayne Anderson Rudnick Investment Management, LLC on this Schedule 13G.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 4 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-top: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.</FONT></TD>
    <TD STYLE="width: 85%; border-top: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">NAMES OF REPORTING PERSONS OR</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund</P></TD>
    <TD STYLE="width: 10%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions)</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(a) [&nbsp; ]</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(b) [&nbsp; ]</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SEC USE ONLY</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CITIZENSHIP OR PLACE OF ORGANIZATION</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Delaware</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD ROWSPAN="4" STYLE="width: 20%; border-left: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">NUMBER OF</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">SHARES</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">BENEFICIALLY</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">OWNED BY</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">EACH</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">REPORTING</FONT></P>
                                                                                <P STYLE="margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">PERSON WITH</FONT></P></TD>
    <TD STYLE="vertical-align: top; width: 5%; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">5.</FONT></TD>
    <TD STYLE="vertical-align: top; width: 75%; border-bottom: black 1pt solid; border-right: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED VOTING POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">931,500</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">7.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SOLE DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">0</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">8.</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">SHARED DISPOSITIVE POWER</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">931,500</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; border-left: black 1pt solid; border-bottom: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">9.</FONT></TD>
    <TD STYLE="width: 85%; border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">931,500</P></TD>
    <TD STYLE="width: 10%; border-bottom: black 1pt solid; border-right: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">10.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">(see instructions) [&nbsp; ]</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">11.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">6.22%</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">12.</FONT></TD>
    <TD STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">TYPE OF REPORTING PERSON (see instructions)</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">IV</P></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">FOOTNOTES - The amounts reported on this page
are also included in the amounts reported by Virtus Investment Advisers, Inc. on this Schedule 13G.</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 5 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 1.</B></FONT></TD>
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of Issuer</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">U.S. PHYSICAL THERAPY, INC.</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Address of Issuer&rsquo;s Principal Executive Offices</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">1300 West Sam Houston Parkway South, Suite 300, Houston, TX 77042</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 40pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Item 2.</B></FONT></TD>
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Name of Person Filing</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne Anderson Rudnick
    Investment Management, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus Investment Advisers,
    Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus Equity Trust
    on behalf of Virtus KAR Small Cap Growth Fund</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Address of the Principal Office or, if none, residence</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne Anderson Rudnick
    Investment Management, LLC</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">2000 Avenue of the Stars, Suite 1110, Los Angeles, CA 90067</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus Investment Advisers,
    Inc.</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">One Financial Plaza, Hartford, CT 06103</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus Equity Trust
    on behalf of Virtus KAR Small Cap Growth Fund</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">101 Munson Street, Greenfield, MA 01301</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Citizenship</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne Anderson Rudnick
    Investment Management, LLC: A California Limited Liability Company</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus Investment Advisers,
    Inc.: Massachusetts</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus Equity Trust
    on behalf of Virtus KAR Small Cap Growth Fund: Delaware</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Title of Class of Securities</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Common Stock</P></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">CUSIP Number</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">90337L108</P></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Item 3. If this statement is filed pursuant
to &sect;&sect;240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="width: 20pt; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[X]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(e)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[X]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">An investment adviser in accordance with &sect;240.13d-1(b)(1)(ii)(E);</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(f)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">An employee benefit plan or endowment fund in accordance with &sect;240.13d-1(b)(1)(ii)(F);</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(g)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A parent holding company or control person in accordance with &sect;240.13d-1(b)(1)(ii)(G);</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(h)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);</FONT></TD></TR>
  <TR>
    <TD STYLE="vertical-align: top; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(j)</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">[&nbsp; ]</FONT></TD>
    <TD STYLE="font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Group, in accordance with &sect;240.13d-1(b)(1)(ii)(J).</FONT></TD></TR>
  </TABLE>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 7 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 4. Ownership.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Amount beneficially owned:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund:</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,365,766</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,001,209</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 931,500</P></TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD COLSPAN="2">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Percent of class:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund:</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 9.11%</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 6.68%</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 6.22%</P></TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number of shares as to which the person has:</FONT></TD>
    <TD>&nbsp;</TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="width: 5%; text-align: justify; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="width: 5%; text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(i)</FONT></TD>
    <TD STYLE="width: 80%">
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sole power to vote or to direct the vote:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.: </P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: </P></TD>
    <TD STYLE="width: 10%"><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0"> 337,812</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">0</P>
                           <P STYLE="margin-top: 0; margin-bottom: 0">0</P></TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: justify; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(ii)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shared power to vote or to direct the vote:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund:</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,001,209</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,001,209</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 931,500</P></TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iii)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Sole power to dispose or to direct the disposition
    of:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.: </P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund: </P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 364,557</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">0</P>
        <P STYLE="margin-top: 0; margin-bottom: 0">0</P></TD>
    </TR>
  <TR STYLE="vertical-align: top; background-color: Gainsboro">
    <TD STYLE="text-align: justify; font-size: 11pt">&nbsp;</TD>
    <TD STYLE="text-align: justify; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(iv)</FONT></TD>
    <TD>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shared power to dispose or to direct the disposition
    of:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(1)&nbsp;&nbsp;Kayne
    Anderson Rudnick Investment Management LLC:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(2)&nbsp;&nbsp;Virtus
    Investment Advisers, Inc.:</P>
    <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">(3)&nbsp;&nbsp;Virtus
    Equity Trust on behalf of Virtus KAR Small Cap Growth Fund:</P></TD>
    <TD><P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,001,209</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 1,001,209</P>
        <P STYLE="margin-top: 0; margin-bottom: 0"> 931,500</P></TD>
    </TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 5. Ownership of Five Percent or Less of a Class.</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the
following [&nbsp; ] .</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Instruction</I>. Dissolution of a group requires a response to this
item.</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">N/A</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 6. Ownership of More than Five Percent on Behalf of Another
Person.</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">With respect to securities owned by a registered investment company
included in this filing, only the custodian for such investment company, has the right to receive dividends paid with respect to, and
proceeds from the sale of, such securities. No other person is known to have such right, except that the shareholders of such investment
company participate proportionately in any dividends and distributions so paid.</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding Company.</B></P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">N/A</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8. Identification and Classification of Members of the Group.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9. Notice of Dissolution of Group.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">N/A</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 30%; border: black 1pt solid; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">CUSIP No. 90337L108</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">13G</FONT></TD>
    <TD STYLE="width: 5%; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border: black 1pt solid; text-align: right; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page 9 of 10 Pages</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 10. Certification.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">By signing below I certify
that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or
with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Signature</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">After reasonable inquiry and to the best of my
knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Kayne Anderson Rudnick Investment Management, LLC</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 47%">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Michael Shoemaker</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Michael Shoemaker</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">February 13, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Virtus Investment Advisers, Inc.</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ David Fusco</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">David Fusco</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Vice President and Chief Compliance Officer</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">February 13, 2024</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Virtus Equity Trust on behalf of Virtus KAR Small Cap Growth Fund</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: </FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Daphne Chisolm</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Daphne Chisolm </FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Vice President, Counsel and Assistant Secretary</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Date: </FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">February 13, 2024</FONT></TD></TR>
  </TABLE>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">AGREEMENT</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">JOINT FILING OF SCHEDULE 13G</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Kayne Anderson Rudnick Investment Management, LLC (an investment adviser
registered under the Investment Advisers Act of 1940), and Virtus Investment Advisers, Inc. (an investment adviser registered under the
Investment Advisers Act of 1940) and Virtus Equity Trust (on behalf of Virtus KAR Small-Cap Growth Fund), a Delaware statutory trust,
hereby agree to file jointly the statement on Schedule 13G to which this Agreement is attached, and any amendments thereto which may be
deemed necessary, pursuant to Regulation 13D-G under the Securities Exchange Act of 1934.</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">It is understood and agreed that each of the parties hereto is responsible
for the timely filing of such statement and any amendments thereto, and for the completeness and accuracy of the information concerning
such party contained therein, but such party is not responsible for the completeness or accuracy of information concerning the other party
unless such party knows or has reason to believe that such information is inaccurate.</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="text-align: justify; font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">It is understood and agreed that a copy of this Agreement shall be
attached as an exhibit to the statement on Schedule 13G, and any amendments thereto, filed on behalf of each of the parties hereto.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">Dated: February&nbsp;9, 2024</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT, LLC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 48%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">/s/ Michael Shoemaker</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 50%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Michael Shoemaker</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Chief Compliance Officer</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">VIRTUS INVESTMENT ADVISERS, INC.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="vertical-align: top; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:&nbsp;&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 48%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">/s/ David Fusco</FONT></TD>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">David Fusco</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Vice President and Chief Compliance Officer</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">VIRTUS EQUITY TRUST, on behalf of</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">VIRTUS KAR SMALL-CAP GROWTH FUND</FONT></TD>
    <TD>&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">By:</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">/s/ Daphne Chisolm</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Daphne Chisolm</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  <TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 11pt">Vice President, Counsel and Assistant Secretary</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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