SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

CLEIN MARK P

(Last)

(First)

(Middle)

C/O UNITED BIOSOURCE CORPORATION

7501 WISCONSIN AVENUE, SUITE 705

(Street)

BETHESDA

20814

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
PSYCHIATRIC SOLUTIONS INC [ PSYS ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
05/16/2006

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. 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 (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/17/2006		M		2,000 ^{( 1 )} ^{( 2 )}	A	$4.625 ^{( 2 )}	38,404 ^{( 2 )}	D
Common Stock	05/17/2006		M		2,000 ^{( 1 )} ^{( 2 )}	A	$11.18 ^{( 2 )}	40,404 ^{( 2 )}	D
Common Stock	05/17/2006		M		2,000 ^{( 1 )} ^{( 2 )}	A	$19.31 ^{( 2 )}	42,404 ^{( 2 )}	D
Common Stock	05/17/2006		S		2,000 ^{( 1 )}	D	$29.91	40,404	D
Common Stock	05/17/2006		S		500 ^{( 1 )}	D	$29.921	39,904	D
Common Stock	05/17/2006		S		915 ^{( 1 )}	D	$30	38,989	D
Common Stock	05/17/2006		S		500 ^{( 1 )}	D	$30.001	38,489	D
Common Stock	05/17/2006		S		85 ^{( 1 )}	D	$30.02	38,404	D
Common Stock	05/17/2006		S		500 ^{( 1 )}	D	$30.111	37,904	D
Common Stock	05/17/2006		S		700 ^{( 1 )}	D	$30.15	37,204	D
Common Stock	05/17/2006		S		500 ^{( 1 )}	D	$30.161	36,704	D
Common Stock	05/17/2006		S		300 ^{( 1 )}	D	$30.17	36,404	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Option (Right to Buy)	$29.49	05/16/2006		A		8,000		^{( 3 )}	05/16/2016	Common Stock	8,000	$0	8,000	D
Option (Right to Buy)	$4.625 ^{( 2 )}	05/17/2006		M			2,000 ^{( 2 )}	05/06/2006	05/06/2011	Common Stock	2,000 ^{( 2 )}	$4.625 ^{( 2 )}	0	D
Option (Right to Buy)	$11.18 ^{( 2 )}	05/17/2006		M			2,000 ^{( 2 )}	05/04/2006	05/04/2011	Common Stock	2,000 ^{( 2 )}	$11.18 ^{( 2 )}	2,000 ^{( 2 )}	D
Option (Right to Buy)	$19.31 ^{( 2 )}	05/17/2006		M			2,000 ^{( 2 )}	05/17/2006	05/17/2015	Common Stock	2,000 ^{( 2 )}	$19.31 ^{( 2 )}	4,000 ^{( 2 )}	D

Explanation of Responses:

1. The transactions reported in this Form 4 were effected pursuant to a 10b5-1 plan adopted by the reporting person.

2. Reflects the two-for-one stock split effected in the form of a stock dividend on January 9, 2006.

3. Options became exercisable as to 2,000 shares on May 16, 2006 and become exercisable for an additional 2,000 shares on each of the first, second and third anniversaries of May 16, 2006.

	Chris Minar, Attorney-in-Fact	05/18/2006
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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