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UHSUniversal Health Services · Insider ownership research

Universal Health Services insiders sold $1.2M in the past 12 months. How much of their stake is that?

About less than 0.1% of the shares they held or received (after tax withholding) during the period. The usual measure, against starting holdings alone, can't be used here because most of the shares sold arrived during the period.

Updated Oct 8, 2026 from SEC filings · covers Oct 9, 2025 to Oct 8, 2026
How this comparesMore of their stake sold than at 32 of the 311 other companies we can measure (#280 of 312)See ranking
0
buyers among officers and directors, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
2 of 10
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 9, 2026 to Oct 8, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Mar 21, 20265 executives had 5.1K shares ($955K) withheld by the company for taxes (not a market sale). That is between under 0.1% and 3.1% of each person's total stake held that day.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Marc Miller
President and CEO, Director
2,239$185.820.1%2.15MMar 21, 2026Mar 23, 2026
Alan Miller
Executive Chairman, Director
1,177$185.82under 0.1%7.18MMar 21, 2026Mar 23, 2026
Steve Filton
Executive Vice President & CFO
616$185.820.2%299KMar 21, 2026Mar 23, 2026
Edward Sim
Executive Vice President
593$185.823.1%18KMar 21, 2026Mar 23, 2026
Matthew Peterson
Executive Vice President, UHS
512$185.821.9%26KMar 21, 2026Mar 23, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Less than usual: about one-seventh of the 5-year average. 2 insiders sold; the average is 4 a year. Year by year
Latest filing: Filed May 29 for a transaction on May 27. Alan Miller reported a change in holdings. Filing
29 SEC ownership filings in the period · See the evidence

What stands out

Tax withholding outweighed market sales: the company withheld $124M of officers' and directors' shares for taxes, against $1.2M sold on the open market. The largest was Marc Miller ($51.8M withheld).Largest withholding, Oct 29, 2025

Percentages cover all 10 officers and directors. Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is the insider's vested stake at the start of the period (Oct 8, 2025). The gold part is what they sold.

SoldRest of starting stakeAdded during the period
Warren Nimetz
Director
Sold 28% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$852KNo plan disclosed
Elliot Sussman
Director
Sold 18% of the shares held or received (after tax withholding) during the period†. No bar against the starting stake: most of these shares arrived during the period.
$346KNo plan disclosed
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosed
Oct 2025: $218K no plan disclosedOctNov 2025: $852K no plan disclosed$852KNovDecJanFebMar 2026: $128K no plan disclosedMarAprMayJunJulAugSepOct

Common questions

Is the Universal Health Services CEO selling stock?

No. Marc Miller reported no open-market sales in the past 12 months.

Why are Universal Health Services insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any Universal Health Services insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did Universal Health Services insiders sell?

About less than 0.1% of the shares they held or received (after tax withholding) during the period. The usual measure, against starting holdings alone, can't be used here because most of the shares sold arrived during the period. That covers the 12 months to Oct 8, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold2 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Warren Nimetz
Director
$852K
3.8K shares
28%†
i
† Most of the shares Warren Nimetz sold arrived during the period, so this is shares sold as a share of the 8.5K held at the start plus the 11K received, less 6.2K withheld by the company for taxes.
No plan disclosed
Elliot Sussman
Director
$346K
1.6K shares
18%†
i
† Most of the shares Elliot Sussman sold arrived during the period, so this is shares sold as a share of the 6.1K held at the start plus the 6.2K received, less 3.4K withheld by the company for taxes.
No plan disclosed
The full ownership picture10 of 10 insiders fully reconciled · 10 officers and directors

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 8, 2025SoldHeld Oct 8, 2026Still held
Alan Miller
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Executive Chairman, Director
7.12M07.19Mno sales
Vesting, gifts, unvested awards and holding lines for Alan Miller
+265Kshares vested or exercised
0gifted (net of own trusts)
−235Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass A Common Stock4,453,7544,453,754
Alan B. Miller Marital Trust (f/b/o Jill Miller)Class A Common Stock400,000400,000
Alan B. Miller 2002 TrustClass A Common Stock258,630258,630
DirectClass B Common Stock1,718,8371,769,474
Marc Daniel Miller 2011 Family TrustClass B Common Stock59,90059,900
Abby Miller King 2011 Family TrustClass B Common Stock55,76355,763
Marni Spencer 2011 Family TrustClass B Common Stock55,76355,763
Marc Daniel Miller 2025 GRATClass B Common Stock24,29510,132
Marni Spencer 2025 GRATClass B Common Stock24,29510,132
Abby Miller King 2025 GRATClass B Common Stock24,29510,132
Marc Daniel Miller 2024 GRATClass B Common Stock13,9630
Marni Spencer 2024 GRATClass B Common Stock9,4180
Abby Miller King 2024 GRATClass B Common Stock9,4180
Alan and Jill Miller FoundationClass B Common Stock8,6238,623
Abby Miller King 2023 GRATClass B Common Stock00
Marc Daniel Miller 2026 GRATClass B Common Stock050,990
Abby Miller King 2026 GRATClass B Common Stock025,495
Marni Spencer 2026 GRATClass B Common Stock025,495

Additional holdings last reported Apr 30, 2018, not confirmed since: 4,796,641 shares. Not included in any total or percentage on this page.

Marc Miller
i
Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
President and CEO, Director
2.07M02.18Mno sales
Vesting, gifts, unvested awards and holding lines for Marc Miller
+265Kshares vested or exercised
0gifted (net of own trusts)
−248Kwithheld by the company for taxes
none reportedunvested awards, start → end
  • Additional holdings last reported more than 3 years ago are shown separately and excluded from totals.
Held throughShare classOct 8, 2025Oct 8, 2026
Marc Daniel Miller 2002 TrustClass A Common Stock334,598334,598
Abby Danielle Miller 2002 TrustClass A Common Stock293,209293,209
Marni Spencer 2002 TrustClass A Common Stock293,209293,209
Marni Spencer Family 2012 TrustClass A Common Stock118,900118,900
Marc Daniel Miller Family 2012 TrustClass A Common Stock118,900118,900
Abby Miller King Family 2012 TrustClass A Common Stock118,900118,900
Abby Danielle Miller Subtrust u/ Miller Family 2017 TrustClass A Common Stock61,50061,500
Marc Daniel Miller Subtrust u/ Miller Family 2017 TrustClass A Common Stock61,50061,500
Marni Spencer Subtrust u/ Miller Family 2017 TrustClass A Common Stock61,50061,500
DirectClass B Common Stock278,054388,621
Marni Spencer 2002 TrustClass B Common Stock69,72669,726
Marc Daniel Miller 2011 Family TrustClass B Common Stock59,90059,900
Abby Miller King 2011 Family TrustClass B Common Stock55,76355,763
Marni Spencer 2011 Family TrustClass B Common Stock55,76355,763
Abby Danielle Miller 2002 TrustClass B Common Stock49,29449,294
Marc Daniel Miller 2002 TrustClass B Common Stock36,98836,988

Additional holdings last reported Apr 30, 2018, not confirmed since: 927,437 shares. Not included in any total or percentage on this page.

Steve Filton
Executive Vice President & CFO
280K0306Kno sales
Vesting, gifts, unvested awards and holding lines for Steve Filton
+83Kshares vested or exercised
0gifted (net of own trusts)
−80Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock118,501144,715
Betsy H. Filton 2020 Irrevocable TrustClass B Common Stock80,50080,500
Steve G. Filton 2020 Irrevocable TrustClass B Common Stock80,50080,500
Matthew Peterson
i
Minor difference of 63 shares. Difference is under 0.5% of holdings.
Executive Vice President, UHS
16K032Kno sales
Vesting, gifts, unvested awards and holding lines for Matthew Peterson
+18Kshares vested or exercised
0gifted (net of own trusts)
−21Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock16,32431,984

Reconciliation: minor difference of 63 shares. Difference is under 0.5% of holdings.

Edward Sim
Executive Vice President
11K025Kno sales
Vesting, gifts, unvested awards and holding lines for Edward Sim
0shares vested or exercised
0gifted (net of own trusts)
−7.9Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock11,24624,790
Warren Nimetz
Director
8.5K−3.8K9.7Knot meaningful
Vesting, gifts, unvested awards and holding lines for Warren Nimetz
+10Kshares vested or exercised
0gifted (net of own trusts)
−6.2Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock8,4819,698
Eileen McDonnell
Director
8.2K09.4Kno sales
Vesting, gifts, unvested awards and holding lines for Eileen McDonnell
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock8,1899,406
Maria Singer
Director
7.9K09.8Kno sales
Vesting, gifts, unvested awards and holding lines for Maria Singer
+2.5Kshares vested or exercised
0gifted (net of own trusts)
−1.8Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock7,8849,792
Elliot Sussman
Director
6.1K−1.6K7.3Knot meaningful
Vesting, gifts, unvested awards and holding lines for Elliot Sussman
+5Kshares vested or exercised
0gifted (net of own trusts)
−3.4Kwithheld by the company for taxes
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock6,1137,330
Nina Chen-Langenmayr
Director
3K04.3Kno sales
Vesting, gifts, unvested awards and holding lines for Nina Chen-Langenmayr
0shares vested or exercised
0gifted (net of own trusts)
none reportedunvested awards, start → end
Held throughShare classOct 8, 2025Oct 8, 2026
DirectClass B Common Stock3,0504,267

10 of 10 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (9 exactly, 1 with a minor or footnoted difference). Percentages cover all 10 officers and directors. "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$1.2M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $1.2M across 5,456 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $1.2M

Sales with no 10b5-1 plan and no tax reference in the filing. $852K of it is Warren Nimetz. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Warren Nimetz, Nov 11, 2025

Taxes

603,238 shares ($124M) were withheld by the company for taxes, which isn't a market sale.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Warren Nimetz
Director
3.8K$852K0%71%Nov 11, 2025 to Nov 11, 2025
Elliot Sussman
Director
1.6K$346K0%29%Oct 29, 2025 to Mar 13, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$218K$0$0$218K
Nov 2025$852K$0$0$852K
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$128K$0$0$128K
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about one-seventh of the 5-year average. 2 insiders sold; the average is 4 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 8, 2026
Latest 12 months
5.5K2$1.2M
Oct 8, 2025
1 year earlier
3.7K1$698K
Oct 8, 2024
2 years earlier
83K7$15.5M
Oct 9, 2023
3 years earlier
78K5$10.9M
Oct 9, 2022
4 years earlier
2.6K2$383K
Oct 9, 2021
5 years earlier
15K4$2.2M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

Matthew Peterson: minor difference of 63 shares. Difference is under 0.5% of holdings.

Inferred rename: "Jill Miller Trust" is treated as the same holder as "Alan B. Miller Marital Trust (f/b/o Jill Miller)", because the old name was never reported again and the new one opened with the same balance (400,000 shares). Old name, new name

Inferred rename: "MS 2014 LLC held by The Marni Spencer2015 GRAT" is treated as the same holder as "MS 2014 LLC held by The Marni Spencer 2015 GRAT", because the old name was never reported again and the new one opened with the same balance (39,958 shares). Old name, new name

Inferred rename: "MS 2014 LLC held by The Marni Spencer 2018 GRAT" is treated as the same holder as "AMK 2014 LLC as held by The Abby Miller King 2018 GRAT", because the old name was never reported again and the new one opened with the same balance (51,933 shares). Old name, new name

Inferred rename: "MDM 2014 LLC held by The Marc Daniel Miller 2018 GRAT" is treated as the same holder as "MDM 2014 LLC as held by The Marc Daniel Miller 2018 GRAT", because the old name was never reported again and the new one opened with the same balance (131,097 shares). Old name, new name

Inferred rename: "MS 2014 LLC" is treated as the same holder as "AMK 2014 LLC held by The Abby Miller King 2014 GRAT", because the old name was never reported again and the new one opened with the same balance (100,000 shares). Old name, new name

Inferred rename: "MDM 2014 LLC held by The Marc Daniel Miller 2018 GRAT" is treated as the same holder as "MDM 2014 LLC as held by The Marc Daniel Miller 2018 GRAT", because the old name was never reported again and the new one opened with the same balance (131,097 shares). Old name, new name

Inferred rename: "MS 2014 LLC held by Marni Spencer 2018 GRAT" is treated as the same holder as "MS 2014 LLC as held by The Marni Spencer 2018 GRAT", because the old name was never reported again and the new one opened with the same balance (51,933 shares). Old name, new name

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology902 filings from SEC EDGAR, and how we read them

All 902 Forms 3, 4 and 5 filed for Universal Health Services (SEC CIK 352915) from Aug 27, 2002 to May 29, 2026, retrieved from SEC EDGAR on Oct 8, 2026. Prices are the ones reported in each filing, often weighted averages. 42 older filings exist only on paper and could not be read.

Probable 2-for-1 stock split on or before Jan 8, 2010 (first filing that shows post-split balances). Splits aren't reported as transactions; 32 holding lines changed by exactly this ratio, so earlier share counts are restated.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (15)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Lawrence GibbsMar 8, 20232,230 shares, last reported balance as of Mar 7, 2023
Marvin PemberMar 25, 202236,599 shares, last reported balance as of Feb 28, 2022
Robert HotzJul 30, 201952,715 shares, last reported balance as of Jul 29, 2019
John HerrellMay 15, 201819,274 shares, last reported balance as of May 15, 2018
Debra OsteenApr 16, 201893,174 shares, last reported balance as of Nov 29, 2017
Anthony PantaleoniNov 29, 201760,070 shares, last reported balance as of Nov 29, 2017
Leatrice DucatMar 7, 20134,000 shares, last reported balance as of Mar 6, 2013
Richard WrightNov 27, 2012114,910 shares, last reported balance as of May 9, 2011
Richard SantorumMay 16, 20117,437 shares, last reported balance as of May 16, 2011
Daniel SilversMay 5, 20112,048 shares, last reported balance as of May 3, 2011
Michael MarquezJun 4, 201028,525 shares, last reported balance as of Jun 4, 2010
John Williams Jr.Nov 24, 20088,550 shares, last reported balance as of Mar 13, 2008
Robert MeisterNov 26, 2007No balance on record
Kevin GrossJun 4, 20071,246 shares, last reported balance as of Jun 1, 2007
Edwin FrenchNo balance on record