<SEC-DOCUMENT>0000885978-24-000011.txt : 20240307
<SEC-HEADER>0000885978-24-000011.hdr.sgml : 20240307
<ACCEPTANCE-DATETIME>20240307161206
ACCESSION NUMBER:		0000885978-24-000011
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		18
CONFORMED PERIOD OF REPORT:	20240306
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:		20240307
DATE AS OF CHANGE:		20240307

FILER:

	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:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11151
		FILM NUMBER:		24730218

	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>

    <div style="text-align: left;"><br/>
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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_1df043b8c26046359038fb182502df49" contextRef="c20240306to20240306">8-K</ix:nonNumeric></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_b8b0b2bcb553403b82a0640d5dad618f" contextRef="c20240306to20240306" format="ixt:date-monthname-day-year-en">March 6, 2024</ix:nonNumeric></div>

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    </div>

    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 24pt;"><span style="font-family: 'Times New Roman',serif; font-size: 24pt; font-weight: bold;">&#160;<span style="-sec-ix-hidden:Fact_3a483620e3964754b5b06fb47a38225a">U.S. PHYSICAL THERAPY, INC.</span></span></div>

    <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>

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

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

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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">(State or other jurisdiction</div>
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            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">File Number)</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>
            <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">Identification No.)</div>
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    <td style="width: 50.44%; vertical-align: top;">
            <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>
          </td>

    <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_4e84c7a3281c47f9a68b9c4d54b9c54d" contextRef="c20240306to20240306">713</ix:nonNumeric>) <ix:nonNumeric name="dei:LocalPhoneNumber" id="Fact_fd50a72d0f3d464dbf0517214469b695" contextRef="c20240306to20240306">297-7000</ix:nonNumeric></div>

    <div><br/>
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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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            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:WrittenCommunications" id="Fact_826f09ebfd1e4550b9be1a5da008d47e" contextRef="c20240306to20240306" format="ixt-sec:boolballotbox">&#9744;</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;">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>

  <tr>

    <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:SolicitingMaterial" id="Fact_fe1d57d1b9b749cab2b7cf2f546394be" contextRef="c20240306to20240306" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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          </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;">Soliciting material pursuant to Rule 14a-12(b) under the Exchange Act (17 CFR 240.14a-12)</div>
          </td>

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  <tr>

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

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

  </tr>

  <tr>

    <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>

  <tr>

    <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_615aabe8091b4fd6b51fe3d2a0f9e5dd" contextRef="c20240306to20240306" format="ixt-sec:boolballotbox">&#9744;</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>
          </td>

    <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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    <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: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><ix:nonNumeric name="dei:SecurityExchangeName" id="Fact_8eb7840ff9df4d46ad878074c6f98ab9" contextRef="c20240306to20240306" format="ixt-sec:exchnameen">New York Stock Exchange</ix:nonNumeric></div>
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    <div><br/>
    </div>

    <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/>
    </div>

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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>
          </td>

    <td style="width: 59.16%; vertical-align: top;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><ix:nonNumeric name="dei:EntityEmergingGrowthCompany" id="Fact_5036ae13afd149c98186329f4b559c94" contextRef="c20240306to20240306" format="ixt-sec:boolballotbox">&#9744;</ix:nonNumeric><br/>
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          </td>

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</table>
    <div><br/>
    </div>

    <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>
          </td>

    <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>
          </td>

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    </div>

    <div><span style="font-weight: bold;">Item 5.02 Departure of Directors or Certain Officers&#894; Election of Directors&#894; Appointment of Certain Officers&#894; Compensatory Arrangements of Certain Officers.</span> </div>

    <div><span style="font-weight: bold;"> <br/>
      </span></div>

    <div> <span style="font-weight: bold;">Compensatory Arrangements of Executive Officers </span></div>

    <div><span style="font-weight: bold;"> <br/>
      </span></div>

    <div><br/></div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">Effective March 6, 2024 (&#8220;Effective Date&#8221;), the Compensation Committee of the Board of Directors (the &#8220;Committee&#8221;) as defined in Section 1.8 of
      the U. S. Physical Therapy, Inc. (&#8220;USPH&#8221;) 2003 Stock Incentive Plan (the &#8220;2003 Plan&#8221;) approved and adopted the incentive plans for senior management as described below. Members of senior management who are eligible under the incentive plans include
      Mr. Christopher Reading, Chief Executive Officer (&#8220;CEO&#8221;), Mr. Carey Hendrickson, Chief Financial Officer (&#8220;CFO&#8221;), Mr. Eric Williams, Chief Operating Officer - East (&#8220;COO East&#8221;), Mr. Graham Reeve, Chief Operating Officer &#8211; West (&#8220;COO West&#8221;), and Mr.
      Rick Binstein, Executive Vice President, General Counsel and Secretary (&#8220;EVP&#8221;), (hereinafter collectively referred to as &#8220;Executives&#8221;).</div>

    <div><br/>
    </div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="text-decoration: underline;">Objective Long-Term Incentive Plan for Senior Management for 2024
          (&#8220;Objective LTIP&#8221;):</span></span> 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 Committee in the first quarter of 2025 subject to the continuous
      employment of the Executive by USPH or its affiliates from the Effective Date through the date of the grant of the RSA and the achievement of certain level of Adjusted EBITDA. All RSAs shall be granted subject to the terms of the 2003 Plan and the
      specific terms and conditions (including without limitation, restrictions in&#160;transfer&#160;and substantial&#160;risk of forfeiture)&#160;as determined&#160;by the Committee in its sole discretion. The number of RSAs that may be granted under this Objective LTIP will
      vest evenly over 16 quarters, beginning April 1, 2025, and ending January 1, 2029, subject to acceleration of vesting in the Committee's sole discretion and 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's employment agreement with USPH.&#160; <span style="font-family: 'Times New Roman', serif; font-size: 10pt;">The number of RSAs that may be granted is subject to the
        achievement of Adjusted EBITDA for the year 2024 and could be up to 100% of the maximum number of shares. The maximum number of RSAs that may be granted are as follows: CEO = 12,500 shares; CFO = 5,000 shares; COO East = 7,500 shares; COO West =
        5,000 shares and EVP = 5,000 shares.</span></div>

    <div><br/>
    </div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="text-decoration: underline;">Discretionary Long-Term Incentive Plan for Senior Management for 2024
          (&#8220;Discretionary LTIP&#8221;)</span></span>; In addition to any other awards under the 2003 Plan 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 Committee may, in its
      judgment and at its sole discretion, grant RSAs under the 2003 Plan, based on its evaluation of an Executive's performance and the collective corporate performance for 2024. Any RSAs granted under this program shall be awarded in the first quarter of
      2025 subject to the continuous employment of the Executive by USPH or its affiliates from the Effective Date through the date of the grant of the RSA. All RSAs granted shall be 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 granted under this Discretionary LTIP will vest evenly over 16 quarters,
      beginning April 1, 2025, and ending January 1, 2029, 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's employment agreement with USPH.&#160; The number of RSAs that may be granted is subject to the evaluation of the Executive&#8217;s performance and the collective corporate performance during 2024. The maximum number of RSAs that may be granted are
      as follows: CEO = up to 12,500 shares; CFO = up to 5,000 shares; COO West = up to 5,000 shares; COO East = up to 7,500 shares, and EVP = up to 5,000 shares.</div>

    <div><br/>
    </div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="text-decoration: underline;">Objective Bonus Plan for Senior Management for 2024 (&#8220;Objective Bonus
          Plan&#8221;</span></span>); Under this Objective Bonus Plan, Executives have an opportunity to receive either a &#8220;Cash Bonus&#8221; Award or RSAs having a value at the time of the Award of up to 75% of the Executive&#8217;s annual base salary as of the date of the
      award as Performance Awards under the 2003 Plan. The Committee will, in its sole discretion, determine the amount and type of award to be made in the first quarter of 2025. No Executive will be entitled to any type of award or have a legally binding
      right to an award until the Committee, in its sole discretion, determines an award will be made, the amount and the type of award to be made. No Executive will be entitled to elect between the Cash Bonus and RSA. Before any Cash Bonus is made or an
      RSA is awarded under this Objective Bonus Plan, the Committee shall certify in writing that the performance goals (which in this case is the achievement of certain level of Adjusted EBITDA) have been obtained. 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 14, 2025. The Executive must be continuously employed by USPH or its affiliates from the Effective Date through December 31, 2024 to receive the Cash
      Bonus or an RSA.</div>

    <div><br/>
    </div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', serif; font-size: 10pt;"><span style="text-decoration: underline;">Discretionary Cash/RSA Bonus Plan for Senior Management for 2024,
          ("Discretionary Bonus Plan")</span></span>; <span style="font-family: 'Times New Roman', serif; font-size: 10pt;">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 of up to 50% of the Participant's annual base salary for 2024 (&#8220;Subjective Bonus&#8221;) subject to the achievement of individual goals established by the Committee. The
        Subjective Bonus shall be made as either a Cash Bonus Award or RSAs, as determined in the sole discretion of the Committee. 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. 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; No Participant will be entitled to
        elect any type of award to be made.</span></div>

    <div><br/>
    </div>

    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">The foregoing descriptions are qualified in its entirety by reference to the full text of each of the Objective LTIP, Discretionary LTIP,
      Objective Bonus Plan, and Discretionary Bonus Plan, which are filed as Exhibits 99.1, 99.2, 99.3 and 99.4, respectively, to this Current Report on Form 8-K and are incorporated herein by reference.</div>

    <div><br/>
    </div>

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

    <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: 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;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">Exhibits</div>
          </td>

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

    <td style="width: 94%; vertical-align: bottom; border-bottom: #000000 2px solid;">
            <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 8pt; font-weight: bold;">Description of Exhibits</div>
          </td>

  </tr>

  <tr>

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

    <td style="width: 94.22%; vertical-align: middle;" colspan="2">&#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 2024, effective March 6, 2024.</div>
          </td>

  </tr>


</table>
    <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="ex99-2.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 2024, effective March 6, 2024.<br/>
              </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 2024, effective March 6, 2024.<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 2024, effective March 6, 2024.<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><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>

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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>

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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>

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

    <td style="width: 5.03%; vertical-align: middle;" colspan="2">&#160;</td>

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

    <td style="width: 37.59%; vertical-align: middle;" colspan="2">&#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 7, 2024<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>

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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>

    <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>

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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;">Chief Financial Officer</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;">(duly authorized officer and principal financial and accounting officer)</div>
          </td>

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

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<DOCUMENT>
<TYPE>EX-99.1
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<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: U.S. PHYSICAL THERAPY, INC.
         Document created using Broadridge PROfile 24.3.1.5224
         Copyright 1995 - 2024 Broadridge -->
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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>
    <br>
    <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;"> <font style="font-size: 12pt;">U.S. PHYSICAL THERAPY, INC.<br>
        2024 OBJECTIVE LONG-TERM INCENTIVE PLAN<br>
        FOR SENIOR MANAGEMENT<br>
        (&#8220;OBJECTIVE LTIP&#8221;)</font><br>
    </div>
    <font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Purpose</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: 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&#160;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' equity interest in USPH.</font>
    <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Effective Date</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: The effective date of this Objective LTIP and the establishment of performance goals and formula for the amount payable hereunder is March 6, 2024.</font></div>
    <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Eligibility</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: The Executives of USPH eligible for this Objective LTIP are the Chief Executive Officer (&#8220;CEO&#8221;), the Chief Financial Officer (&#8220;CFO&#8221;), the General Counsel (&#8220;EVP&#8221;), the Chief Operating Officer West (&#8220;COO West&#8221;)
        and the Chief Operating Officer East (&#8220;COO East&#8221;). 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;).</font></div>
    <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Vesting and Other Terms and Provisions</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: 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 2025. The Executive must be employed by USPH or its affiliates from the Effective Date through the date of the grant to receive
        an 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&#160;and substantial risk of forfeiture) as determined&#160;by the Compensation&#160;Committee in
        its sole discretion. RSAs that are granted under this Objective LTIP will vest evenly over 16 quarters, beginning April 1, 2025 and ending January 1, 2029, subject to acceleration of vesting in the Committee's sole discretion and 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's employment agreement with USPH.</font></div>
    <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Administration</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: The Compensation Committee has authority to administer this Objective LTIP, grant awards and decide all questions of interpretation. The Compensation Committee shall set out the vesting and other terms of an
        RSA in writing. The Compensation Committee's determinations and interpretations under this Objective LTIP.</font></div>
    <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Objective Goals And Amounts That May Be Awarded</u></font><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">: The maximum amount of RSAs that may be granted under this this Objective LTIP based on achievement of the performance goals relating to 2024 are as follows: CEO = 12,500
        shares; CFO = 5,000&#160;shares; COO East =&#160; 7,500&#160; shares; COO West = 5,000 shares and EVP = 5,000 shares.</font></div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"> <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
      </font></div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Award Grant Date:&#160; Any RSAs granted under this program shall be granted under the 2003 Plan in the first quarter of 2025 after the Compensation
        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 Compensation Committee in its sole discretion. RSAs that are granted under this Objective LTIP will vest evenly over 16 quarters, beginning April 1, 2025 and ending January 1, 2029, 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's employment agreement with USPH.</div>
      <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
      </div>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"> <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
      </font></div>
    <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" class="BRPFPageBreakArea">
      <div style="page-break-after:always;" class="BRPFPageBreak">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
      </font> </div>
    <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
    <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <table cellspacing="0" cellpadding="0" class="cfttable" id="za84bf0bf81e04c089c2c194aaf8c8aa5" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000; width: 100%;">

          <tr>
            <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px; border-top: #000000 solid 2px;">
              <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 12pt; font-weight: bold;">2024 Performance Goals</div>
              <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 12pt; font-weight: bold;">Adjusted EBITDA</div>
            </td>
            <td valign="bottom" style="vertical-align: middle; border-bottom: #000000 solid 2px; border-top: #000000 solid 2px;">
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Objective</div>
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Amount of Shares</div>
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt;">CEO, COOs, CFO, EVP</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$78,500,000</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">30.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$78,870,592</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">34.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,241,184</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">38.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,611,776</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">42.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,982,368</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">46.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$80,352,960</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">50.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$80,908,848</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">56.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$81,464,732</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">62.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$81,893,212</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">68.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,214,572</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">74.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,535,932</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">80.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,857,292</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">86.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; $ 83,178,652</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 50%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">92.0%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: middle; border-bottom: #000000 solid 2px;">
              <div style="text-align: center; font-family: 'Times New Roman',serif; font-size: 12pt; margin-left: 9pt;"><font style="font-family: 'Times New Roman',serif; font-size: 12pt;">&#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;&#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;&#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;&#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;&#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;&#160; $83,500,000 AND OVER<br>
                </font> </div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; border-bottom: #000000 solid 2px;">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">100.0%</div>
            </td>
          </tr>

      </table>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div>
        <div style="text-align: justify; margin-top: 4.6pt; font-family: 'Times New Roman', serif; font-size: 12pt;">
          <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Adjusted EBITDA is defined as net income attributable to USPH shareholders before interest income, interest expense, taxes, depreciation,
            and amortization, changes in revaluation of put-right liability, equity-based awards compensation expense, any impairment charges and other extraordinary or unusual items, and related portion for non-controlling interests.</div>
          <div style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
          </div>
        </div>
      </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font>
      <div><font style="font-family: 'Times New Roman',serif; font-size: 12pt;"><br>
        </font> </div>
      <font style="font-family: 'Times New Roman',serif; font-size: 12pt;"> </font><br>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>ex99-2.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: U.S. PHYSICAL THERAPY, INC.
         Document created using Broadridge PROfile 24.3.1.5224
         Copyright 1995 - 2024 Broadridge -->
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
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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>
    <br>
    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC.</div>
    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">2024 DISCRETIONARY LONG-TERM INCENTIVE PLAN</div>
    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">FOR SENIOR MANAGEMENT</div>
    <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">(&#8220;DISCRETIONARY LTIP&#8221;)</div>
    <br>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Purpose</u></font>: 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' equity interest in USPH.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Effective Date</u></font>: This Discretionary LTIP is established
      effective March 6, 2024.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Description of Discretionary Awards Criteria</u></font>: In addition to
      any other awards under the U.S. Physical Therapy, Inc. 2003 Stock Incentive Plan (as amended) (the "2003 Plan") 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 "Committee" is defined in Section 1.8 of the 2003 Plan) may, in its judgment and at its sole discretion, grant Restricted Stock Awards ("RSAs") under the 2003 Plan, based on its
      evaluation of an Executive's performance and the collective corporate performance for 2024. The factors to be considered include:</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Chris Reading &#8211; CEO</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd1a1425a014c430c802cc387bbcb2ae2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Company and Board Leadership;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z34c8940775f6454eac72df35f2b1924a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Growth of the Company to include de novo, tuck in and acquired Physical Therapy partnerships and Industrial Injury Prevention
                opportunities;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z9abcfe8286784455a254c12ba67db07d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Foster Compliance and Cybersecurity culture that is beneficial to our Company and shareholders;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z0f145bc079424515997e895ad6121563" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Oversee and support COO &#8211; East&#8217;s role in driving key Company objectives while strengthening our succession opportunities in key areas;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc577a647a7a04b518c0ee3c022a3ad29" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Achievement of financial goals and objectives for 2024.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Carey Hendrickson - CFO</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z0b60f3770b114c2dbbd661285cacfc05" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Net rate improvements through strategic negotiations and revenue cycle management;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2d04d4c42a544be1902a16050d0610eb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Effective and accurate Board and shareholder communication, guidance, modeling, projections and planning;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z7146fbe2ccf84dc9930891cb43e44c2c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective capital structure to allow continued growth;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd3eb7f533d6d4ae1b464cb38943db94b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Improve efficiencies in Finance/Accounts Payable through technology improvements and staffing adjustments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zda93cc849e3e4cf6a7d1a67c0f1509c0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective cost discipline across the Company and within the corporate services area;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z76063d87ede94b07922b2d6fc462af7c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Successful audit implementation.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Eric Williams &#8211; COO - East</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z6340381de61a4077a7d439dcbfbdbf0a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Ensure cost and revenue alignment to achieve Company&#8217;s operating plan in Physical Therapy and Industrial Injury Prevention business
                segments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb29b25daa3a34db6b28ce149fe1aa052" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Execute Company-wide development plan for de novo as well as acquired partnerships ensuring integration and forward trajectory;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc9afbeaacc9b4a7280e85220eafebaac" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist with improved operational execution across key corporate departments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf1791f5d48fc48968a602dcd6abf68d2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Develop effective leadership and relationships across the entirety of the Company with partners as well as key corporate staff to
                facilitate operational excellence, growth, and opportunity realization;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5e950dd453ef428ab8a7b35f0517638d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective compliance and cybersecurity culture.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Graham Reeve &#8211; COO- West</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zef5b0867697347e48bb56b0418784322" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Align cost and revenue growth for Physical Therapy;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf6e49ab8426348f2a346b786920a4bd6" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Create development plan for top partnerships to ensure organic as well as acquired growth;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zbc2fe5b77ee34110b32ff2f7cd9b5008" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Work on Industrial Injury Prevention opportunities for sales and expansion and cost efficiency;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zeaa8e9eab935415ebc22fb0336228337" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Leadership development, succession and effective relationship integration to allow for seamless transitions to accommodate growth and
                succession-related changes;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z6a398032fda34d6984190bdf9950532c" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective compliance culture;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb94a9a750b084c2384cfe758500f505b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Effective acquisition-related due diligence and integrated coordination and execution.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Rick Binstein - EVP/General Counsel</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd3042807cf4949398cb8403faba0df30" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Coordinate with CEO and other executives to facilitate growth through development;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5ab8a77729f441b9ae814a37b84fe00a" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist in any compliance matters as needed to maintain an effective compliance culture and assist in any communications internally as
                needed with CCO (&#8220;Chief Compliance Officer&#8221;) and executive team;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zbbc50f6af9cf4e1bb6f0b7a53c1d0364" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain legal department in a manner which successfully supports our partners as well as our corporate and infrastructure needs;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z59bcebeafae546d0a3b0bf8ac6866b92" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist CEO and other executives in evaluating new opportunities for growth whether acquired or de novo;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4eb5959ff4934252b95f25aa76c39307" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Coordinate and maintain corporate/board/shareholder meeting minutes and other records.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Participants</u></font>: 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 Operating Officer West (&#8220;COO West&#8221;), the Chief Operating Officer East (&#8220;COO East&#8221;) and Executive Vice President,
      General Counsel (&#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 12,500 shares; CFO= up to 5,000 shares; COO West= up to 5,000 shares; COO East= up to 7,500
      shares, and EVP= up to 5,000 shares</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Administration</u></font>: The Compensation Committee shall administer
      this Discretionary LTIP. The Compensation 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 Compensation Committee shall set out the vesting and other terms of an RSA in writing.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><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 2025 after the Compensation 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 Compensation Committee in its sole discretion. RSAs that are granted under this Objective LTIP will vest evenly over 16 quarters, beginning April 1, 2025
      and ending January 1, 2029, 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's employment
      agreement with USPH.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Certain Tax Considerations</u></font>: Any awards actually granted under
      this program shall be subject to Code Section 83(b).</div>
    <div><br>
    </div>
    <br>
  </div>
</body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>4
<FILENAME>ex99-3.htm
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: U.S. PHYSICAL THERAPY, INC.
         Document created using Broadridge PROfile 24.3.1.5224
         Copyright 1995 - 2024 Broadridge -->
  </head>
<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div><br>
    </div>
    <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;"><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;&#160;&#160;&#160;&#160;</font>Exhibit 99.3</div>
    <br>
    <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;">
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC.</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">2024 OBJECTIVE CASH/RSA BONUS PLAN</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">FOR SENIOR MANAGEMENT</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">(&#8220;OBJECTIVE BONUS PLAN&#8221;)</div>
    </div>
    <div style="text-align: justify; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Purpose</u></font>: To incentivize and retain Executives eligible for this Objective
      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><br>
      </div>
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Effective Date</u></font>: The effective date of this Objective Bonus
        Plan and the establishment of performance goals and formula for the amount payable hereunder is March 6, 2024.</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Eligibility</u></font>: The Executives of USPH eligible for this
        Objective Bonus Plan are the Chief Executive Officer ("CEO"), the Chief Financial Officer ("CFO"),&#160;the Chief Operating Officer West ("COO West"), the Chief Operating Officer East ("COO East") and the Executive Vice President, General Counsel
        ("EVP")</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Description. Conditions and Payment Date</u></font>: Under this
        Objective Bonus Plan, Executives have an opportunity to receive either a "Cash Bonus" Award or to be granted a Restricted Stock Award ("RSA") having a value at the time of the Award of up to 75% of the annual base salary for 2024 (&#8220;Base&#8221;) for the
        CEO, COO West, COO East, CFO and EVP as Performance Awards under the 2003 Plan. The Compensation Committee of the Board of Directors of USPH (the "Compensation Committee") will, in its sole discretion, determine the amount and type of award to be
        made in the first quarter of 2025. 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. No Executive will be entitled to elect between the Cash Bonus and RSA. 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. 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 14, 2025. The Executive must be continuously employed by USPH or its affiliates from the
        Effective Date through December 31, 2024 to receive the Cash Bonus or an RSA.</div>
      <div><br>
      </div>
      <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Administration</u></font>:&#160; The Compensation 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 Compensation Committee shall set out the vesting and other terms
        of an RSA in writing. The Compensation Committee&#8217;s determinations and interpretations under this Objective Bonus Plan shall be final and binding on all persons.</div>
      <div><br>
      </div>
      <div>
        <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Objective Bonus Calculation</u></font>:</div>
      </div>
    </div>
    <br>
    <div style="margin-left: 9pt">
      <table cellspacing="0" cellpadding="0" border="0" class="cfttable" id="z522800684e634714add425e2727ac6cd" style="width: inherit; color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left;">

          <tr>
            <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 5%;">&#160;</td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; border-bottom: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">2024 Adjusted EBITDA</div>
            </td>
            <td valign="bottom" style="vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); width: 5%;">
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">Potential Bonus Value</div>
              <div style="text-align: center; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">(percentage of base salary)</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); width: 1%;">&#160;</td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$78,500,000</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">15.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$78,870,592</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">17.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,241,184</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">19.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,611,776</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">21.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$79,982,368</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">23.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$80,352,960</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">25.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$80,908,848</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">28.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$81,464,732</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">31.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$81,705,773</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">34.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,027,161</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">38.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,348,549</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">42.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,669,937</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">46.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$82,991,325</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">50.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$83,312,713</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">54.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$83,634,101</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">58.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$83,955,489</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">62.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$84,276,877</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">66.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$84,598,265</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">70.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>
          <tr>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">$85,000,000</div>
            </td>
            <td valign="bottom" class="cftnumcell" colspan="1" style="vertical-align: bottom; text-align: right; width: 5%; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">75.0</div>
            </td>
            <td valign="bottom" nowrap="nowrap" class="cftfncell" colspan="1" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; border-right: 2px solid rgb(0, 0, 0); background-color: rgb(204, 238, 255);">
              <div style="font-family: 'Times New Roman', serif; font-size: 12pt;">%</div>
            </td>
          </tr>

      </table>
    </div>
    <div style="margin-bottom: 12pt;"><br>
    </div>
    <br>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Adjusted EBITDA is defined as net income attributable to USPH shareholders before interest income, interest expense, taxes, depreciation, and
      amortization, changes in revaluation of put-right liability, equity-based awards compensation expense, any impairment charges and other extraordinary or unusual items, and related portion for non-controlling interests.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>No Trust or Fund</u></font>: 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><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">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="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"> <br>
    </div>
    <div class="BRPFPageBreakArea" style="clear: both; margin-top: 10pt; margin-bottom: 10pt;">
      <div class="BRPFPageBreak" style="page-break-after: always;">
        <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
    </div>
    <div><br>
    </div>
    <br>
    <div style="text-align: left; margin-left: 36pt;">
      <div><font class="HorizontalTab" style="width: 9pt; font-size: 1px; display: inline-block;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><br>
      </div>
    </div>
    <div style="text-align: left; margin-left: 5.35pt; font-family: 'Times New Roman', serif; font-size: 12pt;"><br>
      <div><br>
      </div>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>5
<FILENAME>ex99-4.htm
<TEXT>
<html>
  <head>
    <title></title>
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<body bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; text-align: left; color: #000000;">
  <div>
    <div><br>
    </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;"><font style="width: 9pt; font-size: 1px; display: inline-block;" class="HorizontalTab">&#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;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Exhibit 99.4</div>
    <br>
    <div style="margin-top: 12pt; margin-bottom: 12pt;">
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">U.S. PHYSICAL THERAPY, INC.</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">2024 DISCRETIONARY CASH/RSA BONUS PLAN</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">FOR SENIOR MANAGEMENT</div>
      <div style="text-align: center; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt; font-weight: bold;">&#160;(&#8220;DISCRETIONARY BONUS PLAN&#8221;)</div>
    </div>
    <br>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><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><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Participants:</u></font> Executives of USPH who shall be "Participants"
      in this Discretionary Bonus Plan are the Chief Executive Officer ("CEO"), Chief Financial Officer ("CFO"), Chief Operating Officer West ("COO West"), Chief Operating Officer East ("COO East") and Executive Vice President, General Counsel (EVP). 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 "Subjective Bonus" of up to 50% of the
      Participant's annual base salary for 2024 ("Base") pursuant to the subjective criteria as set forth below. The Subjective Bonus shall be made as either a "Cash Bonus" Award or a Restricted Stock Award ("RSA"), as determined in the sole discretion of
      the Compensation Committee of the Board of Directors of USPH (the "Compensation Committee"). The Compensation 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. No
      Participant shall be entitled to a Subjective Bonus and shall have no legally binding right to a Subjective Bonus until the Compensation Committee determines the amount and type of award to be made.&#160; No Participant will be entitled to elect any type
      of award to be made.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Effective Date</u></font>: This Discretionary Bonus Plan is established
      effective March 6, 2024.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Administration</u></font>: The Compensation 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 Compensation Committee in its sole discretion
      based upon subjective criteria described below. All decisions of the Compensation Committee shall be final and binding on all persons.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Award and Payment Date</u></font>: The Compensation Committee shall make
      award determinations in the first quarter of 2025. After the Compensation 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 2025 but no later than March 14, 2025. 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 Compensation Committee.</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Subjective Bonus Calculation</u></font>: The Subjective Bonus criteria
      that have been established by the Compensation Committee and shall be used in the Compensation Committee's sole discretion to grant an award of a Subjective Bonus having a value as of the date of the award of up to 50% of Base for CEO, COO West, COO
      East, CFO and EVP are as follows:</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Chris Reading &#8211; CEO</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z562ac66dceec43d78562c95ef1040b1d" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Company and Board Leadership;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb84e3cfdb18b432fb23a584b7a297940" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Growth of the Company to include de novo, tuck in and acquired Physical Therapy partnerships and Industrial Injury Prevention
                opportunities;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z975500c3e4914f069523072b1d56b0f1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Foster Compliance and Cybersecurity culture that is beneficial to our Company and shareholders;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z64f8a8356b3d4c2f83fea89748d42f32" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Oversee and support COO &#8211; East&#8217;s role in driving key Company objectives while strengthening our succession opportunities in key areas;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z63635c2670144c3c8d0893656124173f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Achievement of financial goals and objectives for 2024.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Carey Hendrickson - CFO</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2077e6851b90487bbc2eea52eddb942e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Net rate improvements through strategic negotiations and revenue cycle management;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4ca3bcef10c844d488b4cd36b914e092" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;">Effective and accurate Board and shareholder communication,
                  guidance, modeling, projections and planning</font>;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="ze4ab058cceca4ee78e72e02162692c2f" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective capital structure to allow continued growth;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z803032fffb5047b191f4b6dc99669bd0" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Improve efficiencies in Finance/Accounts Payable through technology improvements and staffing adjustments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z6d6dbad13ce74d55aa1b5d9c5187e3e9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective cost discipline across the Company and within the corporate services area;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4e6146769a904715bd32b2a6e03614a1" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Successful audit implementation.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Eric Williams &#8211; COO - East</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z8c28be14980c4a7ca71ff79d497413bc" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Ensure cost and revenue alignment to achieve Company&#8217;s operating plan in Physical Therapy and Industrial Injury Prevention business
                segments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z97098e0a09784192b503ac7766d25d50" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Execute Company-wide development plan for de novo as well as acquired partnerships ensuring integration and forward trajectory;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zb9a9e9dd4a5f406083e36cb7e14ebbbb" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist with improved operational execution across key corporate departments;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2263dd3b063e4f948d160cba5e82bd65" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Develop effective leadership and relationships across the entirety of the Company with partners as well as key corporate staff to
                facilitate operational excellence, growth, and opportunity realization;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z5c4abdb2c6ea47e190175df5ec5e9644" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective compliance and cybersecurity culture.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Graham Reeve &#8211; COO- West</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zf0202c79c0274bfa9747507f9f258a31" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Align cost and revenue growth for Physical Therapy;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z3f419bb8135b4ca685fa350f33717016" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Create development plan for top partnerships to ensure organic as well as acquired growth;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zffbfcd92b3c9436c8190a07e90bc1d4b" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">3.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Work on Industrial Injury Prevention opportunities for sales and expansion and cost efficiency;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zd692e24376644f07a6ac6dccb4d1975e" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Leadership development, succession and effective relationship integration to allow for seamless transitions to accommodate growth and
                succession-related changes;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z53a7ec4244e64165bd6b8a880d5794c9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain effective compliance culture;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z4b8f407f370941169a2af7253b280c09" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">6.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Effective acquisition-related due diligence and integrated coordination and execution.</div>
            </td>
          </tr>

      </table>
    </div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><u>Rick Binstein - EVP/General Counsel</u></div>
    <div><br>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zc3a319c4c58f4dcbae95e741579ec3c9" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">1.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Coordinate with CEO and other executives to facilitate growth through development;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="zee54f7b61ebd4586a0d4acf6366f5b42" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 18pt; vertical-align: top; text-align: right;">
              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">2.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist in any compliance matters as needed to maintain an effective compliance culture and assist in any communications internally as
                needed with CCO (&#8220;Chief Compliance Officer&#8221;) and executive team;</div>
            </td>
          </tr>

      </table>
    </div>
    <div>
      <table cellspacing="0" cellpadding="0" id="z2d2227da19ca412fad08af7e892cc3c2" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Maintain legal department in a manner which successfully supports our partners as well as our corporate and infrastructure needs;</div>
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    <div>
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              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">4.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Assist CEO and other executives in evaluating new opportunities for growth whether acquired or de novo;</div>
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    <div>
      <table cellspacing="0" cellpadding="0" id="zc4a3319bf8ae4ac2914a3f8af4bc5cff" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
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              <div style="text-align: left; margin-left: 0.1pt; color: #000000; font-family: 'Times New Roman', serif; font-size: 10pt;">5.</div>
            </td>
            <td style="width: auto; vertical-align: top;">
              <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">Coordinate and maintain corporate/board/shareholder meeting minutes and other records.</div>
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    <div><br>
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    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;"><font style="font-family: 'Times New Roman', serif; font-size: 12pt;"><u>No Trust or Fund</u></font>: 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 participants:</div>
    <div><br>
    </div>
    <div style="text-align: justify; color: #000000; font-family: 'Times New Roman', serif; font-size: 12pt;">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><br>
    </div>
    <div><br>
    </div>
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<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>6
<FILENAME>usph-20240306.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
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<XBRL>
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<TYPE>EX-101.LAB
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<FILENAME>usph-20240306_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
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<!--Generated by Broadridge PROfile 24.3.1.5224 Broadridge-->
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="PreCommencementTenderOffer" xlink:title="PreCommencementTenderOffer" />
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  </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>8
<FILENAME>usph-20240306_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="us-ascii"?>
<!--Generated by Broadridge PROfile 24.3.1.5224 Broadridge-->
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_WrittenCommunications" xlink:label="WrittenCommunications" xlink:title="WrittenCommunications" />
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    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_SolicitingMaterial" xlink:label="SolicitingMaterial" xlink:title="SolicitingMaterial" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="SolicitingMaterial" xlink:title="presentation: CoverAbstract to SolicitingMaterial" order="25.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementTenderOffer" xlink:label="PreCommencementTenderOffer" xlink:title="PreCommencementTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="PreCommencementTenderOffer" xlink:title="presentation: CoverAbstract to PreCommencementTenderOffer" order="26.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
    <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2023/dei-2023.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="PreCommencementIssuerTenderOffer" xlink:title="PreCommencementIssuerTenderOffer" />
    <link:presentationArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="CoverAbstract" xlink:to="PreCommencementIssuerTenderOffer" xlink:title="presentation: CoverAbstract to PreCommencementIssuerTenderOffer" order="27.0" preferredLabel="http://www.xbrl.org/2003/role/label" />
  </link:presentationLink>
</link:linkbase>
</XBRL>
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</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="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.24.0.1</span><table class="report" border="0" cellspacing="2" id="idm140371219945088">
<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. 06, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Mar.  06,  2024<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">001-11151<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">76-0364866<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">1300 WEST SAM HOUSTON PARKWAY<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">HOUSTON<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">TX<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">77043<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">713<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">297-7000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">USPH<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="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" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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>
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<td>dei:stateOrProvinceItemType</td>
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<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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>
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<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<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>
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<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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>
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<td>xbrli:booleanItemType</td>
</tr>
<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>
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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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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>
</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:fileNumberItemType</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_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</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_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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-2<br></p></div>
<a href="javascript:void(0);" onclick="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>
</div></td></tr>
</table>
<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="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="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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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>
</table>
<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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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>
</div></td></tr>
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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="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="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>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</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_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="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="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="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>
</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>
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