Item 1A. Risk Factors
ITEM 1A.
RISK FACTORS.
Except as provided below, there have been no material changes to our risk factors as previously disclosed in Item 1A contained in Part I of our Annual Report on Form 10-K for the year ended December 31, 2022 and filed with
the SEC on February 28, 2023.
Actual or perceived events involving banking volatility or limited liability, defaults or other adverse developments that affect the U.S. or
international financial systems, may result in market wide liquidity problems which could have a material and adverse impact on our available cash and results of operations.
At any point in time, the funds in our operating accounts with financial institutions or financial services industry companies with which we have financial, or business relationships may exceed the
applicable Federal Deposit Insurance Corporation (“FDIC”) limits. While we monitor the cash balances in our operating accounts and adjust the cash balances as appropriate, these cash balances could be impacted if the underlying institutions fail.
There is no guarantee that the FDIC will provide access to all or some uninsured funds in the event of the closure, default, or non-performance of the financial institution or financial services industry companies with which they have relationships,
if such parties may be unable to satisfy their obligations with us. To date, we have not experienced losses of cash in our operating accounts or our invested cash and cash equivalents as a result of any banking volatility; however, we can provide no
assurances that access to our operating cash or cash and cash equivalents will not be impacted by adverse conditions in the financial markets. Further, banking volatility or adverse developments impacting financial systems may make equity or debt
financing more difficult to obtain, and additional debt or equity financing might not be available on reasonable terms, if at all. Difficulties obtaining debt or equity financing could have a material adverse effect on our financial condition and
results of operations.
41
Index
ITEM 6.
EXHIBITS.
Exhibit
Number
Description
99.1
U. S. Physical Therapy, Inc. Objective Long-Term Incentive Plan for Senior Management for 2023, effective March 2, 2023 [incorporated by reference to Exhibit 99.1 to the Company Current Report on Form 8-K filed
with the SEC on March 2, 2023].
99.2
U. S. Physical Therapy, Inc. Discretionary Long-Term Incentive Plan for Senior Management for 2023, effective March 2, 2023 [incorporated by reference to Exhibit 99.2 to the Company Current Report on Form 8-K
filed with the SEC on March 2, 2023].
99.3
U. S. Physical Therapy, Inc. Objective Cash/RSA Bonus Plan for Senior Management for 2023, effective March 2, 2023 [incorporated by reference to Exhibit 99.3 to the Company Current Report on Form 8-K filed with
the SEC on March 2, 2023].
99.4
U. S. Physical Therapy, Inc. Discretionary Cash/RSA Bonus Plan for Senior Management for 2023, effective March 2, 2023 [incorporated by reference to Exhibit 99.4 to the Company Current Report on Form 8-K filed
with the SEC on March 2, 2023].
31.1*
Rule 13a-14(a)/15d-14(a) Certification of Chief Executive Officer.
31.2*
Rule 13a-14(a)/15d-14(a) Certification of Chief Financial Officer.
32*
Certification Pursuant to 18 U.S.C 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS*
XBRL Instance Document
101.SCH*
XBRL Taxonomy Extension Schema Document
101.CAL*
XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF*
XBRL Taxonomy Extension Definition Linkbase Document
101.LAB*
XBRL Taxonomy Extension Label Linkbase Document
101.PRE*
XBRL Taxonomy Extension Presentation Linkbase Document
*
Filed herewith
42
Index
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on our behalf by the undersigned thereunto duly authorized.
U.S. PHYSICAL THERAPY, INC.
Date: May 5, 2023
By:
/s/ CAREY HENDRICKSON
Carey Hendrickson
Chief Financial Officer
(Principal financial and accounting officer)
43
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.