[Form 4] Ardent Health, Inc. Insider Trading Activity

Rhea-AI Filing Summary

David Raynor Byers, Senior Vice President & Chief Accounting Officer of Ardent Health, Inc. (ARDT), reported a routine disposition of common stock on 09/25/2025. The filing shows 524 shares were disposed under Code F (withholding to pay taxes upon vesting of restricted stock units) at a reported price equal to the closing stock price on 09/25/2025 of $13.19. After the withholding, Mr. Byers beneficially owns 111,791 shares directly. The Form 4 was signed by an attorney-in-fact on 09/30/2025.

Positive

• Continued direct ownership of 111,791 shares after the withholding event
• Transaction is routine (Code F), indicating tax withholding for vested restricted stock units rather than an open-market sale

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding sale of vested RSUs; maintains sizeable direct ownership—no material governance concerns shown.

The transaction is coded as Code F, indicating shares were withheld to satisfy tax obligations upon RSU vesting rather than an open-market sale. Such transactions are standard compensation-related mechanics and do not signal a change in executive control or a distribution event. The post-transaction direct beneficial ownership of 111,791 shares remains substantial in absolute terms though materiality relative to outstanding shares is not provided in the filing.

Securities Analyst

TL;DR: Small-scale disposition for tax withholding; price listed is the reported closing price of $13.19 on the transaction date.

The Form 4 documents a disposal of 524 shares at $13.19 reflecting tax-withholding on vested restricted stock units. This is a routine, non-dispositive trading event for valuation or signaling purposes. No derivative transactions or additional purchases were reported. The filing is informational and unlikely to be market-moving on its own.

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
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^*

Byers David Raynor

(Last) (First) (Middle)

340 SEVEN SPRINGS WAY, SUITE 100

(Street)

BRENTWOOD TN 37027

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ardent Health, Inc. [ ARDT ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP & Chief Accounting Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/25/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/25/2025		F		524(1)	D	$13.19(2)	111,791	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.

2. Represents the closing price of the common stock of the Issuer on September 25, 2025.

Remarks:

	/s/ Stephen C. Petrovich, Attorney-in-Fact	09/30/2025
	** Signature of Reporting Person	Date
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).
** 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 is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transaction did David Raynor Byers report on Form 4 for ARDT?

He reported a disposition of 524 shares on 09/25/2025 coded as Code F (shares withheld to pay taxes on vested RSUs).

At what price were the shares disposed according to the Form 4?

The filing reports a price of $13.19, which the filer states is the closing price on 09/25/2025.

How many Ardent Health (ARDT) shares does the reporting person own after the transaction?

The Form 4 shows 111,791 shares beneficially owned following the reported transaction.

What does transaction code F mean on this Form 4?

In this filing Code F denotes shares withheld to satisfy tax withholding obligations upon the vesting of restricted stock units, as stated in the Explanation of Responses.

When was the Form 4 signed and filed?

The document was signed by an attorney-in-fact on 09/30/2025 according to the signature block.