Select Medical Holdings Corporation SEC filings document the formal disclosures of a NYSE-listed healthcare services company with common stock traded under SEM. Its Form 8-K reports cover operating results and financial condition, material-event disclosures, capital-structure information, employment and compensation-related agreements, and Regulation FD communications.
Proxy materials and annual-meeting filings describe director elections, executive compensation votes, auditor ratification, board-structure proposals, stockholder meeting rights and voting outcomes. The filings also record governance matters and corporate reporting related to Select Medical's hospital and outpatient rehabilitation operations.
Select Medical Holdings Corporation has agreed to a merger under an Agreement and Plan of Merger dated March 2, 2026, under which each outstanding share (other than specified rollover and excluded shares) will be converted into the right to receive $16.50 in cash per share. The proposed transaction would take the company private and is subject to stockholder approval at a virtual special meeting, customary regulatory approvals and other closing conditions.
The special committee of independent directors unanimously recommended the Merger, Goldman Sachs delivered a fairness opinion, certain insiders and management committed to rollover arrangements representing expected post-close ownership, and financing commitments include up to $880 million of equity from WCAS plus debt commitments.
Select Medical Holdings Corporation reported that Glazer Capital, LLC and Paul J. Glazer beneficially own 6,465,826 shares of Common Stock, representing 5.21% of the class as of 05/07/2026. The filing states Glazer Capital and Mr. Glazer share voting and dispositive power over these shares.
The statement clarifies the holdings are reported by the investment manager and its managing member and includes the reporting persons' business address in New York. The filing does not assert additional transactions or changes beyond the ownership disclosure.
Select Medical Holdings Corp senior vice president Robert G. Breighner Jr. reported a tax-related share disposition. On the vesting of restricted stock, he surrendered 1,330 shares of common stock to satisfy his tax withholding obligation at $16.44 per share. After this non-market transaction, he directly holds 34,696 shares of Select Medical common stock.
Select Medical Holdings Corp vice chairman David S. Chernow surrendered 22,586 shares of Common Stock on April 30, 2026 to satisfy a tax withholding obligation tied to vesting of restricted stock. The shares were valued at $16.41 per share, and he now directly holds 870,244 shares.
Select Medical Holdings Corporation reported first quarter 2026 revenue of $1,421.5 million, up 5.0% from $1,353.2 million a year earlier, while net income declined to $63.8 million from $74.7 million. Earnings per share fell to $0.35 from $0.44, and Adjusted EBITDA decreased to $141.6 million from $151.4 million.
The rehabilitation hospital segment showed the strongest growth, with revenue rising 14.5% to $351.9 million and Adjusted EBITDA increasing 15.1% to $81.1 million. Critical illness recovery hospital and outpatient rehabilitation segments delivered modest revenue gains but lower margins.
The board declared a quarterly cash dividend of $0.0625 per share, payable on or about May 28, 2026, to shareholders of record on May 14, 2026. The company maintained its 2026 outlook, targeting revenue of $5.6–$5.8 billion, Adjusted EBITDA of $520.0–$540.0 million, and fully diluted EPS of $1.22–$1.32.
Select Medical also highlighted its previously announced agreement to be acquired by a buyer group led by WCAS XIV, L.P. at $16.50 per share in cash, subject to regulatory and shareholder approvals, with an expected closing in the middle of 2026. In a separate governance move, the compensation committee deferred by one year the vesting of specific equity awards held by Executive Chairman Robert A. Ortenzio and Senior Executive Vice President Martin F. Jackson, conditioned on continued service.
Select Medical Holdings Corporation reported mixed Q1 2026 results and advanced its go‑private merger plan. Revenue rose to $1,421.5 million from $1,353.2 million, driven mainly by a 14.5% increase in rehabilitation hospital revenue and 4.5% growth in outpatient rehabilitation.
Net income declined to $63.8 million from $74.7 million, and earnings per share fell to $0.35 from $0.44 as cost of services rose faster than revenue, compressing the total Adjusted EBITDA margin to 10.0% from 11.2%. Critical illness recovery hospitals saw lower occupancy and Adjusted EBITDA, while rehabilitation hospitals benefited from higher patient days and slightly better pricing.
The company ended March 31, 2026 with $6.04 billion in total assets, $1.86 billion of total debt and $25.7 million of cash, generating $37.9 million of operating cash flow in the quarter. Select also highlighted its pending all‑cash merger, under which stockholders are expected to receive $16.50 per share, supported by an $880.0 million equity commitment and committed debt financing, subject to shareholder and regulatory approvals.
Frist William H. reported acquisition or exercise transactions in this Form 4 filing.
Select Medical Holdings director William H. Frist received a grant of 1,094 shares of Common Stock on April 28, 2026. The shares are restricted stock issued under the Select Medical Holdings Corporation 2020 Equity Incentive Plan in lieu of a quarterly cash retainer of $18,000.
Each share in the grant was valued at $16.45, and following this award Frist directly holds 306,266 shares of Select Medical Holdings Common Stock. This is a compensation-related equity grant rather than an open-market stock purchase.
Vanguard Portfolio Management reported beneficial ownership of 6,764,889 shares of Select Medical Holdings Corp Common Stock, representing 5.45% of the class as reported. The filing shows sole voting power for 41,332 shares and sole dispositive power for 6,764,889 shares. The report is signed by Ashley Grim on 04/29/2026 and cites holdings as of 03/31/2026.
Select Medical Holdings Corporation reported results of its annual stockholder meeting. Stockholders elected three Class II directors, each receiving over 111.6 million votes in favor, and approved a non-binding advisory vote on executive compensation with 110.7 million votes for.
Stockholders ratified PricewaterhouseCoopers LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026, with 116.3 million votes for. They approved an amendment to phase out the classified structure of the board of directors, supported by 113.8 million votes. A company proposal to give stockholders the right to call special meetings at a 25% ownership threshold received 96.4 million votes for, while a separate shareholder proposal for a 10% threshold drew 22.8 million votes for and was not approved.
Select Medical Holdings Corporation is asking stockholders to approve a merger under which Stallion MergerSub will merge into the company and Select Medical will become a privately held, wholly owned subsidiary of Stallion Intermediate Corporation. Each outstanding eligible share will receive $16.50 in cash, a premium of approximately 18% to the unaffected price of $14.01 on November 24, 2025 and approximately 25% to the 90-day VWAP ending November 24, 2025. The Company Board formed an independent Special Committee that unanimously recommended the Merger and received a fairness opinion from Goldman Sachs. Financing includes an Equity Financing commitment up to $880 million, Debt Financing commitments up to $1 billion, and Rollover equity; Rollover holders committed 14,335,221 shares (reducing cash consideration by $236.5 million). A Company Termination Fee of $66,504,813 applies in certain circumstances.