U S Physical Therapy Executive Compensation (FY25)
USPH · Executive and director compensation, fiscal 2023 to 2025
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Data as of September 28, 2026Latest filing (8-K): May 19, 2026
12 filings cited on this page
Method: intel.velarion.ai/methodology
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155 figures on this page: 144 cited to the filing that reported them, 11 calculated from figures it prints. See the citations
Frequently asked questions
Answers drawn from the data on this page.
Who is U S Physical Therapy's chief executive and what were they paid?
Christopher Reading, Chief Executive Officer, received $4,468,314 in total compensation for fiscal 2025.
What was U S Physical Therapy's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 93.7% of votes cast for or against in favor at the meeting held May 19, 2026.
Which companies are in U S Physical Therapy's peer group?
The disclosed peer group includes Addus HomeCare Corporation, Astrana Health, Inc., Concentra Group Holdings, Inc., Corvel Corporation and Cross Country Healthcare, Inc., among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christopher Reading Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Eric Williams President, Chief Operating Officer - East | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Graham Reeve Chief Operating Officer - West | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Carey Hendrickson Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Richard Binstein Executive Vice President, General Counsel and Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2024
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christopher Reading Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Eric Williams President, Chief Operating Officer - East | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Graham Reeve Chief Operating Officer - West | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Carey Hendrickson Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Richard Binstein Executive Vice President, General Counsel and Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Christopher Reading Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Eric Williams President, Chief Operating Officer - East | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Graham Reeve Chief Operating Officer - West | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Carey Hendrickson Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Richard Binstein Executive Vice President, General Counsel and Secretary | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Graham Reeve | RSU | ◇ | ◇ | — | — |
| Christopher Reading | RSU | ◇ | ◇ | — | — |
| Eric Williams | RSU | ◇ | ◇ | — | — |
| Carey Hendrickson | RSU | ◇ | ◇ | — | — |
| Richard Binstein | RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Dr. Bernard A. Harris Jr Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Kathleen A. Gilmartin | ◇ | ◇ | — | — | — | — | ◇ |
Regg E. Swanson | ◇ | ◇ | — | — | — | — | ◇ |
Clayton K. Trier | ◇ | ◇ | — | — | — | — | ◇ |
Anne B. Motsenbocker | ◇ | ◇ | — | — | — | — | ◇ |
Nancy J. Ham | ◇ | ◇ | — | — | — | — | ◇ |
Michael G. Mayrsohn | — | — | — | — | — | ◇ | ◇ |
Peter F. Minan and Christopher J. Reading served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Total board retainer | ◇ |
| Lead independent director premium | ◇ |
| Audit committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Addus HomeCare Corporation ADUS
- Astrana Health, Inc. ASTH
- Concentra Group Holdings, Inc. CON
- Corvel Corporation CRVL
- Cross Country Healthcare, Inc. CCRN
- Enhabit, Inc. EHAB
- National Healthcare Corp. NHC
- RadNet, Inc. RDNT
- Surgery Partners, Inc. SGRY
- The Pennant Group, Inc. PNTG
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 19, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 20, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 21, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 16, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 17, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 18, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | August 18, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 20, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 22, 2018 | = | ◇ | ◇ | ◇ |
| 2016 | October 3, 2017 | = | ◇ | ◇ | ◇ |
| 2015 | May 17, 2016 | = | ◇ | ◇ | ◇ |
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What this page does not include
Everything above is a fact U S Physical Therapy disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where U S Physical Therapy sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
155 figures on this page: 144 cited to the filing that reported them, 11 calculated from figures it prints.
144 cited to the filing
11 calculated from the filing
Documents cited
- 0000885978-26-000027Proposal 2 - Advisory vote to approve named executive officer compensation.
- 0001140361-26-014952DIRECTOR COMPENSATION TABLE
- 0000885978-25-000017Proposal 2 - Advisory vote to approve named executive officer compensation.
- 0000885978-24-000033ITEM 5.07 Submission of Matters to a Vote of Security Holders.
- 0001140361-23-025301ITEM 5.07 Submission of Matters to a Vote of Security Holders.
- 0000885978-22-000030Item 5.07 Submission of Matters to a Vote of Security Holders.
- 0000885978-21-000016Item 5.07 Submission of Matters to a Vote of Security Holders.
- 0000885978-20-000031ITEM 5.07 Submission of Matters to a Vote of Security Holders.
- 0001140361-19-009655Item 5.07 Submission of Matters to a Vote of Security Holders
- 0000885978-18-000031Item 5.07 Submission of Matters to a Vote of Security Holders.
- 0000885978-17-000030Item 5.07 Submission of Matters to a Vote of Security Holdders
- 0000885978-16-000037Item 5.07 Submission of Matters to a Vote of Security Holdders
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “U S Physical Therapy executive compensation, FY2023–FY2025.” https://intel.velarion.ai/comp/USPH (accessed 2026).
Short form: data: Velarion
The U S Physical Therapy brief, $1,500
Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
12 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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The headline figures, each with its citation.
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Peers U S Physical Therapy discloses
The companies named in USPH's own disclosed peer group.
Terms on this page
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Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}