Commission File Number001-10315________________________________________________________ Encompass Health Corporation (Exact Name of Registrant as Specified in its Charter) 9001 Liberty ParkwayBirmingham,Alabama35242(Address of Principal Executive Offices) Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d) of the Act. Yes☐No☒ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 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☐ 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-Tduring 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 growthcompany. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Emerging growth company☐ Non-Accelerated filer☐Smaller reporting company☐ 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 revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect thecorrection of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of theregistrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Exchange Act Rule 12b-2). Yes☐No☒ The aggregate market value of common stock held by non-affiliates of the registrant as of the last business day of the registrant’s most recentlycompleted second fiscal quarter was approximately $8.5billion. For purposes of the foregoing calculation only, executive officers and directors of the registranthave been deemed to be affiliates. There were100,709,106shares of common stock of the registrant outstanding, net of treasury shares, as of February13,2025. DOCUMENTS INCORPORATED BY REFERENCE The definitive proxy statement relating to the registrant’s 2025 annual meeting of stockholders is incorporated by reference in Part III to the extent TABLE OF CONTENTS Cautionary Statement Regarding Forward-Looking Statements and Summary of Risk Factors PART I Item1.BusinessItem 1A.Risk FactorsItem 1B.Unresolved Staff CommentsItem 1C.CybersecurityItem 2.PropertiesItem 3.Legal ProceedingsItem 4.Mine Safety Disclosures PART II Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity SecuritiesItem 6.ReservedItem 7.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem7A.Quantitative and Qualitative Disclosures About Market RiskItem 8.Financial Statements and Supplementary DataItem 9.Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A.Controls and ProceduresItem 9B.Other InformationItem 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections PART III Item 10.Directors and Executive Officers of the RegistrantItem 11.Executive CompensationItem 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13.Certain Relationships and Related Transactions and Director IndependenceItem14.Principal Accountant Fees and Services PARTIV Item15.Exhibits and Financial Statement SchedulesItem 16.Form 10-K SummaryExhibit Index NOTE TO READERS As used in this report, the terms “Encompass Health,” “we,” “us,” “our,” and the “Company” refer to Encompass Health Corporationand its consolidated subsidiaries, unless otherwise stated or indicated by context. This drafting style is suggested by the Securities andExchange Commission and is not meant to imply that Encompass Health Corporation, the publicly traded parent company, owns or operatesany specific asset, business, or property. The hospitals, operations, and businesses described in this filing are primarily owned and operated bysubsidiaries of the parent company. In addition, we use the term “Encompass Health Corporation” to refer to Encompass Health Corporationalone where