FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

REEVE GRAHAM D.
2. Issuer Name and Ticker or Trading Symbol

U S PHYSICAL THERAPY INC /NV [ USPH ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
COO
(Last)          (First)          (Middle)

1300 W SAM HOUSTON PKWY S, SUITE 300
3. Date of Earliest Transaction (MM/DD/YYYY)

12/6/2021
(Street)

HOUSTON, TX 77042
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock         12217 (1)D  
Common Stock 12/6/2021  S  1000 D$94.19 (2)7845 I Reeve trust 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares

Explanation of Responses:
(1) Includes 12,217 shares which restrictions lapse as to 1,912 shares on January 1, 2022; 1,433 on each of April 1, July 1 and October 1, 2022; 1,448 shares on January 1, 2023; 788 shares on each of April 1, July 1 and October 1, 2023; 794 shares on January 1, 2024; and 350 shares on each of April 1, July 1 and October 1, 2024 and January 1, 2025, if he is employed by the Company on those dates.
(2) The price reported is a weighted average price. The shares were sold in multiple transactions at prices ranging from $94.00 to $94.42 per share, both inclusive. The reporting person undertakes to provide to U.S. Physical Therapy, Inc. any of its shareholders or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form 4.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
REEVE GRAHAM D.
1300 W SAM HOUSTON PKWY S
SUITE 300
HOUSTON, TX 77042


COO

Signatures
12/6/2021 Graham D Reeve12/7/2021
**Signature of Reporting PersonDate

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