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( Mark One ) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549 Form 10 - K ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31 , 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM NEVADA ( STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION ) 1300 WEST SAM HOUSTON PARKWAY SOUTH , SUITE 300 , OR U.S. PHYSICAL THERAPY , INC . ( EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER ) HOUSTON , TEXAS ( ADDRESS OF PRINCIPAL EXECUTIVE OFFICES ) Large accelerated filer Non - accelerated filer COMMISSION FILE NUMBER 1-11151 Title of Each Class Common Stock , $ .01 par value _TO_ ✓ Trading Symbol USPH REGISTRANT'S TELEPHONE NUMBER , INCLUDING AREA CODE : ( 713 ) 297-7000 SECURITIES REGISTERED PURSUANT TO SECTION 12 ( b ) OF THE EXCHANGE ACT : 76-0364866 ( I.R.S. EMPLOYER IDENTIFICATION NO . ) 77042 ( ZIP CODE ) SECURITIES REGISTERED PURSUANT TO SECTION 12 ( g ) OF THE EXCHANGE ACT : NONE Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Act . Yes No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Exchange Act during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No ( Do not check if a smaller reporting company ) Name of Each Exchange on Which Registered New York Stock Exchange Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer " , " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Accelerated filer Smaller reporting company Emerging growth company 100 If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Exchange Act ) . Yes No