OMB APPROVAL -------------------------- OMB Number 3235-0287 -------- Expires: January 31, 2005 FORM 4 U.S. SECURITIES AND EXCHANGE COMMISSION Estimated average burden -------- Washington, D.C. 20549 hours per response.. 0.5 Check box if -------------------------- no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 ---------------------------------------------- 1. Name and Address of Reporting Person* Miersch Edward R. ------------------------------------------ (Last) (First) (Middle) 4716 Old Gettysburg Road, P.O. Box 2034 ------------------------------------------ (Street) Mechanicsburg, PA 17055 ------------------------------------------ (City) (State) (Zip) ---------------------------------------------- 2. Issuer Name and Ticker or Trading Symbol Select Medical Corporation - NYSE (SEM) ---------------------------------------------- 3. IRS Identification Number of Reporting Person, if an entity (voluntary) ---------------------------------------------- 4. Statement (Month/Day/Year) February 7, 2003 ----------------------------------------------- 5. If Amendment, Date of Original (Month/Day/Year) / / ----------------------------------------------- 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title Other (specify below) below) President, NovaCare Rehabilitation Division ------------------------------------------------ 7. 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 2. Trans- 2A. 3.Transaction 4. Securities 5. Amount of 6. Ownership 7. Nature of (Instr. 3) action Deemed Code Acquired (A) Securities Form: Direct Indirect Date Execution (Instr. 8) or Disposed of Beneficially (D) or Indirect Beneficial (Month/ Date, if (D) (Instr. 3, Owned Follow- (I) (Instr. 4) Ownership Day/ any 4 and 5) ing Reported (Instr. 4) Year) (Month/ Transaction(s) Day/ (Instr. 3 and 4) Year) Code V Amount (A)or Price (D) Common Stock, par value $.01 per share 02/07/03 M 15,360 (A) $ 6.51 Common Stock, par value $.01 per share 02/07/03 S 2,000 (D) $13.60 Common Stock, par value $.01 per share 02/07/03 S 1,000 (D) $13.61 Common Stock, par value $.01 per share 02/07/03 S 600 (D) $13.62 Common Stock, par value $.01 per share 02/07/03 S 1,100 (D) $13.63 ------------------------------------------------------------------------------------------------------------------------------------ Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. *If the form is filed by more than one reporting person, see Instruction 4(b)(v). (Over) Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a current valid OMB control number. Page 1 of 3 FORM 4 (Continued) Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) ---------------------------------------------------------------------------------------------------------------------------------- 1.Title of 2.Conver- 3.Trans- 3A. 4.Transac- 5.Number 6.Date 7.Title 8.Price 9.Number 10. Owner- 11.Nature Derivative sion or action Deemed tion of Exer- and of of ship of Security Exercise Date Execu- Code Deriv- cisable Amount Deriv- Deriv- of De- Indir- (Instr. 3) Price of (Month/ tion (Instr. ative and Ex- of ative ative riva- ect Deriv- Day/ Date, if 8) Secur- pira- Under- Secur- Secur- tive Bene- ative Year) any ities tion lying ity ities Secu- ficial Security (Month/ Ac- Date Secur- (Instr. Bene- rity: Owner- Day/Year) quired (Month/ ities 5) ficially Direct ship (A) or Day/ (Instr. Owned Foll- (D) or (Instr. Disposed Year) 3 and 4) owing Re- Indirect 4) of (D) ported (I) (Instr. Tranac- (Instr. 3, 4 and tion(s) 4) 5) (Instr. 4) Code V (A) (D) Date Ex- Title Amount Ex- pir- or ercis- ation Number able Date of Shares Employee Stock Options (right to buy) $ 6.51 02/07/03 M 15,360 (1) 12/31/09 Com- 15,360 30,718 mom Stock ---------------------------------------------------------------------------------------------------------------------------------- Explanation of Responses: (1) The original option grant of 76,798 options vests over 5 years in equal parts of 1/5th of the total per year, the third installment of which vested on 01/01/03. ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Note: File three copies of this Form, one of which must be manually signed. If space provided is insufficient, see Instruction 6 for procedure. Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a current valid OMB Number. /s/ Edward R. Miersch 2/10/03 --------------------------------- --------------- ** Signature of Reporting Person Date Page 2 of 3 FORM 4 (Continued) Edward R. Miersch Select Medical Corporation - NYSE (SEM) 4716 Old Gettysburg Road, P.O. Box 2034 February 7, 2003 Mechanicsburg, PA 17055 Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned (cont.) ---------------------------------------------------------------------------------------------------------------------------------- Title of Security Trans- Deemed Transaction Securities Amount of Ownership Form: Nature of action Execution Code Acquired (A) Securities Direct (D) or Indirect Date Date, if or Disposed of Beneficially Indirect (I) Beneficial (Month/ any (Month/ (D) Owned Follow- Ownership Day/ Day/Year) ing Report- Year) ed Trans- action(s) Code V Amount (A)or Price (D) Common Stock, 02/07/03 S 600 (D) $13.66 par value $.01 per share Common Stock, 02/07/03 S 300 (D) $13.67 par value $.01 per share Common Stock, 02/07/03 S 2,700 (D) $13.68 par value $.01 per share Common Stock, 02/07/03 S 100 (D) $13.71 par value $.01 per share Common Stock, 02/07/03 S 500 (D) $13.72 par value $.01 per share Common Stock, 02/07/03 S 1,900 (D) $13.75 par value $.01 per share Common Stock, 02/07/03 S 860 (D) $13.76 par value $.01 per share Common Stock, 02/07/03 S 100 (D) $13.77 par value $.01 per share Common Stock, 02/07/03 S 1,000 (D) $13.78 par value $.01 per share Common Stock, 02/07/03 S 200 (D) $13.79 par value $.01 per share Common Stock, 02/07/03 S 800 (D) $13.80 par value $.01 per share Common Stock, 02/07/03 S 1,000 (D) $13.81 par value $.01 per share Common Stock, 02/07/03 S 200 (D) $13.83 par value $.01 per share Common Stock, 02/07/03 S 200 (D) $13.84 par value $.01 per share Common Stock, 02/07/03 S 200 (D) $13.88 2,419 (D) par value $.01 per share ---------------------------------------------------------------------------------------------------------------------------------- Page 3 of 3