Tenet Healthcare (THC) director awarded 1,464 restricted stock units as equity pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

KERREY J ROBERT reported acquisition or exercise transactions in this Form 4 filing.

Tenet Healthcare Corp director J. Robert Kerrey received a new equity award as part of his compensation. He was granted 1,464 restricted stock units linked to the company’s common stock, with no cash paid by him for the grant.

The units are granted under Tenet’s Stock Incentive Plan and each unit represents the economic equivalent of one common share. These restricted stock units vest on the first anniversary of the grant date, and Kerrey may elect to receive up to 37% of the vested units in cash instead of shares. Following this award, his reported derivative holdings from this grant total 1,464 units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider KERREY J ROBERT

Role null

Type	Security	Shares	Price	Value
Grant/Award	2026 May Restricted Stock Units	1,464	$0.00	--

Holdings After Transaction: 2026 May Restricted Stock Units — 1,464 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

RSUs granted: 1,464 units Underlying common shares: 1,464 shares Exercise/Conversion price: $0.00 per unit +3 more

6 metrics

RSUs granted 1,464 units Restricted stock units granted on May 27, 2026

Underlying common shares 1,464 shares Each RSU equals one share of common stock

Exercise/Conversion price $0.00 per unit No cash cost to the director for RSU grant

Vesting date May 27, 2027 RSUs vest on first anniversary of grant

Cash settlement election Up to 37% Portion of RSUs the director may take in cash

Holdings after grant 1,464 units Total RSUs from this grant following transaction

Key Terms

restricted stock units, Stock Incentive Plan, economic equivalent, vest

4 terms

restricted stock units financial

"Represents restricted stock units granted under the Company's Stock Incentive Plan."

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.

Stock Incentive Plan financial

"Represents restricted stock units granted under the Company's Stock Incentive Plan."

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

economic equivalent financial

"Each restricted stock unit is the economic equivalent of one share of the Company's common stock."

vest financial

"These restricted stock units vest on the first anniversary of the date of grant."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

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Form 4 Insider Transactions: What Each Field Means →

05/28/2026 - 08:00 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

KERREY J ROBERT

(Last)

(First)

(Middle)

14201 DALLAS PARKWAY

(Street)

DALLAS

TEXAS

75254

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
TENET HEALTHCARE CORP [ THC ]

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

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
2026 May Restricted Stock Units	⁽¹⁾	05/27/2026		A		1,464		05/27/2027	05/27/2027	Common Stock	1,464	$0	1,464	D

Explanation of Responses:

1. Represents restricted stock units granted under the Company's Stock Incentive Plan. Each restricted stock unit is the economic equivalent of one share of the Company's common stock. These restricted stock units vest on the first anniversary of the date of grant. The reporting person may elect to receive up to 37% of these restricted stock units in cash in lieu of shares.

	Chad J. Wiener, as Attorney-in-fact for J. Robert Kerrey	05/28/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Tenet Healthcare (THC) report for J. Robert Kerrey?

Tenet Healthcare reported that director J. Robert Kerrey received a grant of 1,464 restricted stock units. These units are part of his equity compensation and are tied to the company’s common stock under its Stock Incentive Plan.

How many restricted stock units did the Tenet Healthcare (THC) director receive?

The director received 1,464 restricted stock units. Each unit is the economic equivalent of one share of Tenet Healthcare common stock, providing share-based incentive compensation without an immediate cash purchase by the insider.

When do J. Robert Kerrey’s Tenet Healthcare (THC) restricted stock units vest?

The restricted stock units vest on the first anniversary of the grant date. This means the full 1,464 units are scheduled to vest one year after May 27, 2026, subject to the plan’s standard vesting conditions.

Can the Tenet Healthcare (THC) director take any of these RSUs in cash?

Yes. The filing states the reporting person may elect to receive up to 37% of the restricted stock units in cash instead of shares. The remaining units would be settled in Tenet Healthcare common stock upon vesting.

Is this Tenet Healthcare (THC) Form 4 a stock purchase or sale by the director?

No. The Form 4 reflects a grant of restricted stock units as compensation, coded as an acquisition (A). It is not an open-market stock purchase or sale, but an award under Tenet’s Stock Incentive Plan.