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Ardent Health, Inc. President and CEO Martin Bonick reported compensation-related stock activity involving restricted stock units and associated tax withholding.
On April 1, 2026, he received 134,615 shares of common stock as a grant or award. These restricted stock units vest in three substantially equal installments on each anniversary of April 1, 2026, subject to his continued service with the company.
To cover tax obligations upon vesting of restricted stock units under Rule 16b-3, 10,952 shares were withheld at a reference price of $8.67 per share on April 1, 2026 and 8,026 shares were withheld at $8.56 per share on March 31, 2026. Following these transactions, Bonick directly owned 1,437,937 shares of Ardent Health common stock.
Ardent Health, Inc. reported that Ethan Chernin, its President, Hospital Services, departed the company effective March 24, 2026. The company classified his departure as a “Qualifying Termination” under its Executive Severance Plan, meaning he will receive severance and related benefits subject to that plan’s terms.
Details of the severance framework are described in Ardent Health’s 2025 proxy statement and in the Executive Severance Plan previously filed as an exhibit to a Form 10-Q for the quarter ended June 30, 2024.
Ardent Health, Inc. is a Delaware-based holding company that operates a large, consumer-centric healthcare platform focused on mid-sized U.S. urban markets. As of December 31, 2025, it ran 30 acute care hospitals and 286 total sites of care with 4,281 licensed beds and more than 2,000 providers across Texas, Oklahoma, New Mexico, New Jersey, Idaho, and Kansas.
The company served about 1.2 million unique patients in 2025, totaling over 6.1 million visits, and reports leading inpatient market share positions in most of its eight regional systems. A differentiated joint venture model with academic medical centers, not-for-profit health systems, community physicians, and a foundation underpins 18 JV-operated hospitals, many structured as variable interest entities where Ardent holds majority economic interests and provides day-to-day management.
Ardent emphasizes quality and technology, citing 85% systemwide compliance with sepsis bundles, severe sepsis and septic shock mortality rates well below national averages, and strong Leapfrog safety results, including nine 2025 Top Hospital designations and 88% of graded hospitals earning A or B grades. A single Epic electronic health record instance and AI-enabled tools support value-based care initiatives, ambulatory expansion, and population health management.
Petrovich Stephen C. reported acquisition or exercise transactions in this Form 4 filing.
Ardent Health, Inc. executive vice president, general counsel and secretary Stephen C. Petrovich was granted 34,733 shares of common stock on March 11, 2026 as a performance-based award. The shares were earned under performance-vesting restricted stock units granted on July 18, 2024 and will vest on December 31, 2026, contingent on continued service.
Following this award, Petrovich directly owns 753,036 shares of Ardent Health common stock. The filing also reports additional indirect holdings of common stock through 2016 exempt family trusts benefiting his children, for which he disclaims beneficial ownership except for any pecuniary interest.
Ardent Health, Inc. Chief Financial Officer Alfred Lumsdaine reported an equity compensation award on Common Stock. He acquired 61,081 shares on March 11, 2026 at a stated price of $0.00 per share, reflecting a grant or award rather than an open-market purchase.
According to the footnote, these shares were earned based on 2024 and 2025 performance under performance-vesting restricted stock units granted on July 18, 2024, and will vest on December 31, 2026 if he remains in service through that date. Following this award, he directly holds 272,228 Common Stock shares.
Chernin Ethan reported acquisition or exercise transactions in this Form 4 filing.
Ardent Health, Inc. President of Health Services Ethan Chernin reported receiving a grant of 32,408 shares of Common Stock as compensation, with no purchase price paid per share.
These shares were earned based on 2024 and 2025 performance under performance-vesting restricted stock units awarded on July 18, 2024. They will vest on December 31, 2026, contingent on continued service through that date. After this award, Chernin directly holds 68,396 shares of Ardent Health common stock.
Bonick Martin reported acquisition or exercise transactions in this Form 4 filing.
Ardent Health, Inc. President and CEO Martin Bonick received a grant of 195,316 shares of common stock at no cost as part of his equity compensation. These shares were earned based on 2024 and 2025 performance under performance-vesting restricted stock units awarded on July 18, 2024.
The granted shares will vest on December 31, 2026, contingent on his continued service through that date, meaning he does not fully own them until then. Following this award, Bonick directly holds 1,322,300 shares of Ardent Health common stock.
Byers David Raynor reported acquisition or exercise transactions in this Form 4 filing.
Ardent Health, Inc. reported that SVP & Chief Accounting Officer David Raynor Byers received a grant of 8,859 shares of common stock as a compensation award. These shares were earned based on 2024 and 2025 performance under performance-vesting restricted stock units and will vest on December 31, 2026, contingent on continued service through that date. Following this award, he directly holds 120,650 shares of common stock.
Ardent Health reported mixed fourth quarter and full-year 2025 results and issued 2026 guidance. Full-year 2025 revenue rose to $6.32 billion, up 6.0%, while Adjusted EBITDA increased 9.3% to $545 million, lifting the Adjusted EBITDA margin to 8.6%.
Fourth quarter revenue was $1.61 billion, essentially flat year over year, and Adjusted EBITDA fell 26.6% to $134 million as net income attributable to Ardent Health declined to $45 million, or $0.32 per diluted share. Management noted that prior-year results benefited from two quarters of New Mexico state directed payments.
Operations showed modest volume growth, with admissions up 1.5% and adjusted admissions up 2.0%, while net patient service revenue per adjusted admission decreased 2.4%. For 2025, net cash from operating activities climbed 49% to $471 million, ending the year with $710 million in cash and a net leverage ratio of 0.8x.
In 2025 the company repurchased 0.35 million shares for $3 million. For 2026, Ardent forecasts revenue of $6.4–$6.7 billion, net income attributable to Ardent Health of $129–$183 million, Adjusted EBITDA of $485–$535 million and diluted EPS of $0.90–$1.27, with adjusted admissions growth of 1.5–2.5% and capital expenditures of $225–$265 million.
Ardent Health, Inc. announced that its board of directors has authorized a stock repurchase program for up to $50.0 million of its common stock. The program has no specified expiration date, giving the company flexibility in timing any buybacks. Repurchases may be made through open market purchases, privately negotiated transactions, block trades or other transactions in line with applicable securities laws, including the pricing and volume requirements of Rule 10b-18 under the Exchange Act.
Ardent may also use Rule 10b5-1 plans to facilitate repurchases. The company is not obligated to repurchase any specific amount of shares and can modify, suspend or terminate the program at any time. It expects to fund any repurchases with existing cash and cash equivalents and ongoing cash from operations.