Tenet Healthcare names new principal accounting officer
Tenet Healthcare Corporation announced leadership changes in its accounting function.
Accepted by SEC EDGAR
Learn about SEC filing dates
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
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.
8-K Event Classification
2 items: 5.02, 9.01
2 items
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, or exhibit attachments filed with this report.
Key Figures
Base salary: $475,000 per year
Target cash bonus: 60% of salary
Initial RSU grant: $500,000 grant-date value
+5 more
8 metrics
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
Key Terms
Principal Accounting Officer, restricted stock units, performance-based RSUs, cash sign-on bonus, +1 more
5 terms
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
