Tenet director settles RSUs, returns shares to issuer

Tenet Healthcare director Roy Blunt reported routine equity-compensation transactions involving company common stock.

Rhea-AI Filing Summary

Tenet Healthcare director Roy Blunt reported routine equity-compensation transactions involving company common stock. He exercised 1,333 restricted stock units that were each the economic equivalent of one share of Tenet Healthcare common stock, receiving shares as part of the settlement.

In connection with this activity, he disposed of 493 shares back to the issuer at a price of $173.78 per share. After these transactions, Blunt directly owns 5,189 shares of Tenet Healthcare common stock. The filing reflects compensation-related settlements rather than open-market buying or selling.

Insider Trade Summary

1,333 shares exercised/converted

Exercise 3 txns

Insider Blunt Roy

Role Director

Type	Security	Shares	Price	Value
Exercise	2025 May Restricted Stock Units	1,333	$0.00	$0.00
Exercise	Common Stock	1,333	$0.00	$0.00
Disposition	Common Stock	493	$173.78	$86K

Holdings After Transaction: 2025 May Restricted Stock Units — 0 contracts (Direct); Common Stock — 5,189 shares (Direct)

Footnotes (1)

1. F1. Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp (THC) common stock. The reporting person settled 37% of his restricted stock units for cash and 63% for shares of THC common stock.

Key Figures

Shares disposed to issuer: 493 shares Disposition price: $173.78 per share RSU shares exercised: 1,333 shares +2 more

5 metrics

Shares disposed to issuer 493 shares Disposition to issuer at $173.78 per share on May 22, 2026

Disposition price $173.78 per share Price for 493 shares returned to issuer

RSU shares exercised 1,333 shares Common stock received from restricted stock unit exercise

Post-transaction holdings 5,189 shares Common stock directly owned after reported transactions

RSU settlement mix 37% cash / 63% shares Allocation of restricted stock unit settlement

Key Terms

restricted stock unit, disposition to issuer, derivative security, economic equivalent

4 terms

restricted stock unit financial

"Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp common stock."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

disposition to issuer financial

"Transaction code D is described as Disposition to issuer."

derivative security financial

"Exercise or conversion of derivative security is the description for the M-code transactions."

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

economic equivalent financial

"Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp common stock."

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Tenet Healthcare (THC) director Roy Blunt report in this Form 4?

Roy Blunt reported routine equity-compensation activity involving Tenet Healthcare common stock. He exercised 1,333 restricted stock units into shares and disposed of 493 shares back to the issuer, ending with 5,189 shares directly owned.

How many Tenet Healthcare (THC) shares did Roy Blunt acquire in this transaction?

Roy Blunt acquired 1,333 shares of Tenet Healthcare common stock through the exercise of restricted stock units. Each restricted stock unit was the economic equivalent of one share, and settlement was split between cash and stock based on the plan terms.

How many Tenet Healthcare (THC) shares did Roy Blunt dispose of and at what price?

Roy Blunt disposed of 493 Tenet Healthcare common shares back to the issuer at $173.78 per share. This disposition to the company is coded as a D transaction, distinct from any open-market sale, and is part of the overall compensation settlement.

What is Roy Blunt’s Tenet Healthcare (THC) ownership after the reported Form 4 transactions?

After the reported transactions, Roy Blunt directly owns 5,189 shares of Tenet Healthcare common stock. This figure reflects the net result of both the restricted stock unit exercise and the disposition of shares back to the issuer on the transaction date.

How were Roy Blunt’s Tenet Healthcare (THC) restricted stock units settled?

Roy Blunt’s restricted stock units were settled partly in cash and partly in shares. According to the footnote, 37% of his restricted stock units were settled for cash and 63% were settled for Tenet Healthcare common shares, each unit equaling one share economically.

Were Roy Blunt’s Tenet Healthcare (THC) Form 4 transactions open-market trades?

The transactions were not open-market trades. The filing shows an exercise of restricted stock units and a disposition coded as D, which is a transfer back to the issuer, reflecting compensation-related activity rather than buying or selling in the open market.

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

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Accepted by SEC EDGAR 05/26/2026 - 08:00 PM EDT Learn about SEC filing dates

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^*

Blunt Roy

(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)
05/22/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/22/2026		M		1,333	A	(1)	5,682	D
Common Stock	05/22/2026		D		493	D	$173.78	5,189	D

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
2025 May Restricted Stock Units	(1)	05/22/2026		M			1,333	05/22/2026	05/22/2026	Common Stock	1,333	(1)	0	D

Explanation of Responses:

1. Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp (THC) common stock. The reporting person settled 37% of his restricted stock units for cash and 63% for shares of THC common stock.

	Chad J. Wiener, as Attorney-in-fact for Roy Blunt	05/26/2026
	** 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)