Welcome to our dedicated page for Select Medical SEC filings (Ticker: SEM), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
The Select Medical Holdings Corporation (NYSE: SEM) SEC filings page on Stock Titan provides access to the company’s regulatory disclosures as filed with the U.S. Securities and Exchange Commission. As a public company operating critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics across many U.S. states, Select Medical uses its SEC filings to report financial results, corporate actions, governance changes, and material events affecting its three reportable segments.
Current and periodic reports. Investors can review Select Medical’s current reports on Form 8-K, which the company uses to announce items such as quarterly and annual financial results, cash dividend declarations, updates to its common stock repurchase program, and significant financing transactions. Recent 8-K filings describe earnings releases for multiple quarters, dividend declarations, amendments to the company’s credit agreement, and the issuance of senior notes used together with term loan proceeds and cash on hand to redeem prior notes and repay existing term loans.
Other 8-K filings detail governance and organizational changes, including the appointment of a new chief executive officer, related board role changes, and an employment agreement with the chief executive officer. The company has also filed an 8-K describing amendments and restatements of its bylaws to address procedural and disclosure requirements for stockholder nominations and proposals in light of universal proxy rules. Another 8-K furnishes a press release acknowledging a non-binding indication of interest from the Executive Chairman, Co-Founder and Director to acquire all outstanding shares of Select Medical for cash consideration within a stated range per share.
Annual and quarterly reporting. While not reproduced in full here, Select Medical’s Form 10-K annual reports and Form 10-Q quarterly reports provide detailed financial statements, segment information for its critical illness recovery hospital, rehabilitation hospital, and outpatient rehabilitation segments, and risk factor discussions. These filings expand on topics referenced in press releases, such as reimbursement risk, labor availability, Medicare certification requirements, competition, and technology and cybersecurity considerations.
Using Stock Titan’s tools. On Stock Titan, Select Medical’s SEC filings are updated in near real time as new documents are posted to EDGAR. AI-powered summaries help explain the key points of lengthy filings, including how segment results relate to the company’s post-acute care operations and what specific corporate or financing actions mean for the capital structure. Users can quickly scan 10-K and 10-Q disclosures, 8-K current reports, and exhibits such as amended bylaws or employment agreements to understand how Select Medical’s regulatory reporting reflects developments in its hospital and outpatient rehabilitation businesses.
Select Medical Holdings Corp reports that The Vanguard Group has no beneficial ownership following an internal realignment. The filing states Amount beneficially owned: 0 and Percent of class: 0% as of the disclosure. The filing explains certain Vanguard subsidiaries will report holdings separately in reliance on SEC Release No. 34-39538.
The change is described as an internal organizational realignment effective January 12, 2026, with the filing signed on March 27, 2026.
Select Medical Holdings investors led by Robert A. Ortenzio have amended their Schedule 13D after the company agreed to be acquired under a cash merger at $16.50 per share. The deal would merge Select Medical into Stallion MergerSub, making it a wholly owned subsidiary of Stallion Intermediate Corporation.
The merger is backed by an $880,000,000 equity commitment from WCAS XIV, L.P. and up to $1,000,000,000 in debt financing. Termination fees include a $66,504,813 fee payable by Select Medical in specified circumstances and a $133,009,627 reverse termination fee payable by Parent if it fails to close after conditions are met.
Ortenzio reports beneficial ownership of 14,019,735 shares (11.3%), Martin F. Jackson holds 1,383,421 shares (1.1%), and the Estate of Rocco A. Ortenzio holds 4,085,550 shares (3.3%), based on 124,018,300 shares outstanding as of February 28, 2026. Certain reporting persons have entered rollover and voting agreements to exchange some shares for Parent equity and to support the merger, which remains subject to shareholder and regulatory approvals.
Select Medical Holdings Corporation is asking stockholders to vote at its April 23, 2026 virtual annual meeting on seven key items, including director elections, executive pay, auditor ratification and governance changes. Three Class II directors will be elected, with one-year terms if the board declassification amendment passes and three-year terms if it does not. Stockholders will cast a non-binding say-on-pay vote and consider amending the certificate of incorporation to phase out the classified board.
The company is also seeking a non-binding advisory vote to provide a 25% ownership threshold for stockholders to call special meetings, alongside a stockholder proposal for a 10% threshold that the board opposes. Governance disclosures highlight a 10‑member board with eight independent directors, a lead independent director, fully independent key committees, and detailed oversight of risk and cybersecurity. Executive compensation remains heavily performance-based, with 2025 bonuses paid at 190% of target after adjusted earnings per share of $1.16 and return on equity of 8.6%, and sizeable time‑vested restricted stock grants to senior leaders.
Select Medical Holdings Corporation agreed to be acquired by a consortium led by Executive Chairman Robert A. Ortenzio, Senior EVP Martin F. Jackson and private equity firm WCAS. The deal values each share at $16.50 in cash, implying an enterprise value of $3.9 billion.
The price represents an approximate 18% premium to Select Medical’s unaffected share price on November 24, 2025 and about 25% above its 90‑day volume‑weighted average closing price. The merger requires approval by a majority of unaffiliated shareholders, regulatory clearances and other customary conditions, after which Select Medical will become a private company and its shares will be delisted from the NYSE. The agreement includes reciprocal termination fees and fully committed equity and debt financing backing the transaction.
Select Medical Holdings Corp. received a refined non-binding proposal to go private at $16.00 per share in cash from a group led by co-founder and Executive Chairman Robert A. Ortenzio. The proposal would acquire all outstanding shares not already owned by the reporting persons and remains subject to negotiation, Special Committee approval, regulatory clearances and other conditions.
Based on 124,017,191 shares outstanding as of February 1, 2026, Mr. Ortenzio may be deemed to beneficially own 14,019,735 shares (11.3%), Martin F. Jackson 1,383,421 shares (1.1%), and the Estate of Rocco A. Ortenzio 4,085,550 shares (3.3%). The amendment also clarifies how these holdings are split among trusts, foundations and family entities and confirms no transactions occurred in the past 60 days.
Select Medical Holdings Corporation is soliciting proxies for its 2026 Annual Meeting to be held virtually on April 23, 2026. The meeting asks shareholders to elect three Class II directors, vote on executive compensation, ratify PricewaterhouseCoopers LLP as auditor, and approve a Declassification Proposal to phase out the Board’s classified structure.
The record date is February 27, 2026; there were 124,018,300 shares outstanding on that date. The Board recommends FOR the director nominees, the executive compensation advisory vote, auditor ratification, the 25% special-meeting threshold proposal, and AGAINST the stockholder 10% special-meeting threshold proposal. Voting instructions and proxy access details are provided online.
Select Medical Holdings Corporation files its Form 10-K describing a nationwide post-acute care platform that generated $5,452.8 million of revenue in the year ended December 31, 2025. The company operates 104 critical illness recovery hospitals, 38 rehabilitation hospitals, and 1,917 outpatient rehabilitation clinics across 39 states and the District of Columbia.
In November 2024, Select completed a tax-free spin-off of Concentra, whose results are now shown as discontinued operations. In November 2025, Executive Chairman and Co-Founder Robert A. Ortenzio submitted a non-binding indication of interest to acquire all outstanding shares for $16.00 to $16.20 per share in cash, and a special board committee is reviewing this proposal alongside other strategic alternatives. The business is heavily exposed to government and commercial reimbursement, with 2025 revenue by payor of approximately 28.6% Medicare and 51.6% commercial insurance, and relies on about 45,300 employees and strong clinical quality programs to compete in a highly regulated, labor-constrained healthcare market.
Select Medical Holdings Corporation reported stronger 2025 results and outlined its 2026 outlook. For 2025, revenue rose 5.1% to $5,452.8 million and income from continuing operations, net of tax, increased 65.0% to $214.5 million. Earnings per common share from continuing operations climbed to $1.16 from $0.51, while adjusted EPS from continuing operations rose to $1.16 from $0.94, reflecting improved profitability after prior-year one-time charges.
Fourth-quarter revenue grew 6.4% to $1,396.6 million, with income from continuing operations, net of tax, improving to $37.7 million versus a loss a year earlier, though Adjusted EBITDA declined to $104.7 million. The rehabilitation hospital segment delivered double-digit revenue and Adjusted EBITDA growth, while outpatient rehabilitation margins compressed. The board declared a cash dividend of $0.0625 per share, payable around March 12, 2026, and has authorized a common stock repurchase program of up to $1.0 billion through December 31, 2027. In 2025 the company repurchased 6,375,512 shares for about $96.5 million.
For 2026, Select Medical expects revenue between $5.6 billion and $5.8 billion, Adjusted EBITDA between $520.0 million and $540.0 million, and fully diluted EPS between $1.22 and $1.32, indicating anticipated continued growth from its critical illness recovery hospitals, rehabilitation hospitals, and outpatient rehabilitation clinics.
Select Medical Holdings Corporation director William H. Frist reported receiving a grant of restricted common stock as part of his board compensation. On 02/11/2026, he acquired 1,109 shares at $16.23 per share under the company’s 2020 Equity Incentive Plan, issued in lieu of a quarterly cash retainer of $18,000. Following this award, he beneficially owned 305,172 shares of Select Medical common stock, held directly.