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New Tenet Healthcare (NYSE: THC) controller to receive $475k salary

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(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Tenet Healthcare Corporation announced leadership changes in its accounting function. Senior Vice President & Controller and Principal Accounting Officer R. Scott Ramsey will now retire effective April 30, 2026, and continue part-time with the company through March 31, 2028, to provide transition support.

Effective April 6, 2026, Tenet is appointing J. Michael Grooms, age 48, as Senior Vice President & Controller, and he will become Principal Accounting Officer on May 1, 2026. Under his offer letter, Grooms will receive a $475,000 base salary, a target cash bonus equal to 60% of salary, an initial $500,000 RSU grant, eligibility for a 2027 equity award of about $350,000, a $250,000 cash sign-on bonus, and relocation benefits.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Base salary $475,000 per year Annual base salary for J. Michael Grooms under his offer letter
Target cash bonus 60% of salary Bonus target for J. Michael Grooms as a percentage of base salary
Initial RSU grant $500,000 grant-date value Restricted stock units for Grooms, vesting over second and third anniversaries
2027 equity-based award $350,000 grant-date value Planned 2027 award, 50% service-based RSUs and 50% performance-based RSUs
Sign-on bonus $250,000 cash Cash sign-on bonus payable to J. Michael Grooms
Retirement effective date April 30, 2026 Revised retirement date for R. Scott Ramsey
Part-time transition period end March 31, 2028 Date through which Ramsey will remain employed part-time
New role effective date April 6, 2026 Date Grooms becomes Senior Vice President & Controller
Principal Accounting Officer financial
"Mr. Grooms will succeed Mr. Ramsey as the Company’s Principal Accounting Officer effective May 1, 2026"
The Principal Accounting Officer is the person responsible for making sure a company's financial records are accurate and follow the rules. They play a key role in preparing financial reports that show how well the company is doing. This helps investors, managers, and regulators trust the company's financial information.
restricted stock units financial
"an initial grant of Company restricted stock units (“RSUs”) with an approximate grant date value of $500,000"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
performance-based RSUs financial
"a 2027 equity-based award with an approximate grant date value of $350,000, comprised of a combination of 50% service-based RSUs and 50% performance-based RSUs"
Performance-based restricted stock units (RSUs) are promises to deliver company shares to employees only if the business meets specific goals, such as revenue, profit, stock-price targets, or strategic milestones. For investors, they matter because they change future share supply and align management incentives with company results—like a salesperson whose bonus only pays out when sales targets are hit—so they can affect earnings, dilution, and confidence in leadership.
cash sign-on bonus financial
"Mr. Grooms will also receive a cash sign-on bonus of $250,000 and relocation benefits"
emerging growth company regulatory
"Emerging Growth Company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What leadership change did Tenet Healthcare (THC) announce in this 8-K?
Tenet Healthcare is transitioning its Principal Accounting Officer role. R. Scott Ramsey’s retirement date moved to April 30, 2026, and he will work part-time through March 31, 2028, while J. Michael Grooms becomes Senior Vice President & Controller and then Principal Accounting Officer.

Who is J. Michael Grooms and what is his new role at Tenet Healthcare (THC)?
J. Michael Grooms, age 48, is being appointed Senior Vice President & Controller effective April 6, 2026. He will succeed R. Scott Ramsey as Tenet Healthcare’s Principal Accounting Officer on May 1, 2026, bringing prior senior accounting leadership experience from Lifepoint Health and earlier work at KPMG.

What compensation will Tenet Healthcare (THC) pay its new controller, J. Michael Grooms?
Under his offer letter, Grooms will receive a $475,000 annual base salary, a target cash bonus at 60% of salary, an initial $500,000 restricted stock unit grant, eligibility for a 2027 equity award of about $350,000, a $250,000 cash sign-on bonus, and relocation benefits.

When will Tenet Healthcare’s outgoing Principal Accounting Officer retire and how long will he stay on part-time?
R. Scott Ramsey’s retirement as Senior Vice President & Controller and Principal Accounting Officer is now effective April 30, 2026. He will remain employed on a part-time basis through March 31, 2028, providing continuing transition services and support to Tenet Healthcare.

What equity awards are included in J. Michael Grooms’ package at Tenet Healthcare (THC)?
Grooms will receive an initial restricted stock unit grant with an approximate grant date value of $500,000, vesting half on the second anniversary and half on the third anniversary. He is also expected to receive a 2027 equity-based award valued around $350,000, split between service-based and performance-based RSUs.
0000070318false00000703182026-03-252026-03-250000070318us-gaap:CommonStockMemberexch:XNYS2026-03-252026-03-250000070318us-gaap:SeniorNotesMemberexch:XNYS2026-03-252026-03-25


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
 _______________
FORM 8-K 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
 _______________
Date of Report: March 25, 2026 
(Date of earliest event reported)
 _______________
TENET HEALTHCARE CORPORATION
(Exact name of Registrant as specified in its charter)
 
Nevada
 1-7293 95-2557091
(State of Incorporation) (Commission File Number) (IRS Employer
Identification Number)
14201 Dallas Parkway 
Dallas, TX 75254 
(Address of principal executive offices, including zip code)
(469) 893-2200
(Registrant’s telephone number, including area code)
 
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading
Symbol(s)		Name of each exchange
on which registered
Common stock, $0.05 par valueTHCNYSE
6.875% Senior Notes due 2031THC31NYSE
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging Growth 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 revised financial accounting standards pursuant to Section 13(a) of the Exchange Act. ☐ 

Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Tenet Healthcare Corporation (the “Company”) previously disclosed that its Senior Vice President & Controller (Principal Accounting Officer), R. Scott Ramsey, provided notice of his plan to retire effective March 31, 2026. The effective date of Mr. Ramsey’s retirement has been changed to April 30, 2026. Mr. Ramsey will remain employed on a part-time basis through March 31, 2028, for continuing transition services and support.
On March 25, 2026, the Company appointed J. Michael Grooms, age 48, Senior Vice President & Controller of the Company, effective April 6, 2026. Mr. Grooms will succeed Mr. Ramsey as the Company’s Principal Accounting Officer effective May 1, 2026, following the effective date of Mr. Ramsey’s retirement.
Mr. Grooms has served as Senior Vice President, Chief Accounting Officer for Lifepoint Health, Inc. (“Lifepoint”), a healthcare provider that serves patients, clinicians, communities and partner organizations across the healthcare continuum, since 2018. Between 2006 and 2018, Mr. Grooms held various other reporting and accounting leadership roles of increasing responsibility at Lifepoint. Mr. Grooms began his career in public accounting as an auditor with KPMG.
Pursuant to the terms of Mr. Grooms’ offer letter with the Company, he will receive (i) an annual base salary of $475,000, (ii) a target cash bonus award at 60% of his salary, and (iii) an initial grant of Company restricted stock units (“RSUs”) with an approximate grant date value of $500,000 that vests one-half on the second anniversary of the grant date and the other half on the third anniversary of the grant date, and be recommended for a 2027 equity-based award with an approximate grant date value of $350,000, comprised of a combination of 50% service-based RSUs and 50% performance-based RSUs. Mr. Grooms will also receive a cash sign-on bonus of $250,000 and relocation benefits as described in the offer letter. For more information regarding the Company’s annual bonus and stock incentive award programs, see the Company’s Definitive Proxy Statement for the 2025 Annual Meeting of Shareholders filed with the Securities and Exchange Commission on April 11, 2025.
Item 9.01.
Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
104
Cover Page Interactive Data File (embedded within the inline XBRL document)


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
TENET HEALTHCARE CORPORATION
Date: March 30, 2026By:
/s/ THOMAS ARNST
Thomas Arnst
Executive Vice President, Chief Administrative Officer, General Counsel and Corporate Secretary

Source: View Original Filing on SEC EDGAR

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