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

Rhea-AI Filing Summary

Stephen C. Petrovich, Executive Vice President, General Counsel and Assistant Secretary of Ardent Health, Inc. (ARDT), reported a routine share disposition on 09/25/2025. The filing shows 788 shares were withheld to satisfy tax withholding upon vesting of restricted stock units at a closing price of $13.19, and after that transaction Mr. Petrovich directly beneficially owned 718,303 shares. In addition, the filing discloses two family trusts each holding 186,225 shares, which the reporting person disclaims beneficial ownership of except for any pecuniary interest. The form is a standard Section 16 report documenting an internal tax-related share settlement rather than an open-market sale.

Positive

• Officer retains a substantial direct stake of 718,303 shares, signaling continued insider ownership
• Disposition was tax-related (Code F), indicating an administrative action rather than an active sale

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine tax-withholding on vested RSUs; officer retains substantial direct holdings.

The Form 4 documents a common post-vesting administrative disposition where 788 shares were withheld to cover taxes. This does not indicate active selling pressure or a change in insider sentiment. The officer continues to hold a material direct stake of 718,303 shares and family trusts hold additional positions of 186,225 shares each, with standard disclaimers of beneficial ownership. This report is procedural and presents no apparent governance concerns.

Securities Analyst

TL;DR: Transaction is immaterial to float; no market-moving selling shown.

Code F reflects shares withheld for taxes upon RSU vesting; 788 shares withheld at the reported $13.19 closing price is a small adjustment relative to the officer's post-transaction direct holdings of 718,303 shares. The separate disclosures of two 186,225-share trust holdings are noted with disclaimers. From a market-impact perspective this filing is neutral.

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^*

Petrovich Stephen C.

(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)
	EVP, GC and Asst. Secretary

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		788(1)	D	$13.19(2)	718,303	D
Common Stock								186,225	I	See footnote(3)
Common Stock								186,225	I	See footnote(4)

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.

3. These securities are held by the Emilie K. Petrovich GST-2016 Exempt Family Trust, of which the Reporting Person is the trustee and the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of the Reporting Person's pecuniary interests therein, if any.

4. These securities are held by the Stephen C. Petrovich GST-2016 Exempt Family Trust, of which the Reporting Person's spouse is the trustee and the Reporting Person's children are beneficiaries. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of the Reporting Person's pecuniary interests therein, if any.

Remarks:

	/s/ Stephen C. Petrovich	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 did the Form 4 for ARDT filed by Stephen C. Petrovich report?

The filing reports that 788 shares were withheld for taxes upon RSU vesting on 09/25/2025 and that Mr. Petrovich directly owns 718,303 shares following the transaction.

Why were 788 shares disposed of according to the filing?

The filing states those shares were withheld to satisfy tax withholding obligations upon vesting of restricted stock units, per the explanatory footnote.

What price is recorded for the withheld shares in the Form 4?

The Form 4 records the closing price of $13.19 for the common stock on September 25, 2025, used to value the withheld shares.

Does Stephen C. Petrovich have indirect holdings in ARDT?

Yes. The filing discloses two trusts each holding 186,225 shares, and the reporting person disclaims beneficial ownership of those trust-held shares except to the extent of any pecuniary interest.

Does this Form 4 indicate a general insider sale or change in ownership trend?

No. The transaction is recorded as Code F (tax withholding), a routine post-vesting action, and the officer continues to hold a material direct position.