Tenet EVP Arnst sells 24,000 shares, gets RSUs

Tenet Healthcare EVP and General Counsel Thomas W. Arnst reported multiple equity transactions.

Rhea-AI Filing Summary

Tenet Healthcare EVP and General Counsel Thomas W. Arnst reported multiple equity transactions. On March 2, 2026, he executed an open-market sale of 24,000 shares of common stock at a weighted average price of about $234.04 per share, leaving him with 8,012 directly held shares.

On February 27, 2026, he received a grant of 7,520 time-based restricted stock units and exercised previously granted restricted stock units from 2023 and 2024, which converted into common stock on a one-for-one basis. Shares totaling 1,496, 4,409, and 14,870 were withheld to cover tax obligations upon vesting at prices based on the closing market price.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 9 txns

Insider Arnst Thomas W

Role EVP, Chief Admin. Officer & GC

Sold 24,000 shs ($5.62M)

Approx. gross sale proceeds $5.62M

Approx. exercise cost $0.00

Type	Security	Shares	Price	Value
Sale	Common Stock	24,000	$234.04	$5.62M
Grant/Award	2026 February Restricted Stock Units	7,520	$0.00	$0.00
Exercise	2024 February Restricted Stock Units	5,604	$0.00	$0.00
Exercise	2023 March Restricted Stock Units	5,598	$0.00	$0.00
Exercise	Common Stock	5,604	$0.00	$0.00
Exercise	Common Stock	5,598	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	1,496	$237.58	$355K
Exercise Price or Tax Liability	Common Stock	4,409	$239.39	$1.06M
Exercise Price or Tax Liability	Common Stock	14,870	$239.39	$3.56M

Holdings After Transaction: 2026 February Restricted Stock Units — 7,520 contracts (Direct); 2024 February Restricted Stock Units — 5,605 contracts (Direct); 2023 March Restricted Stock Units — 0 contracts (Direct); Common Stock — 8,012 shares (Direct)

Footnotes (10)

1. F1. Restricted stock units convert into common stock on a one-for-one basis.
2. F2. Reflects shares delivered by reporting person to satisfy withholding taxes due upon vesting of performance share units.
3. F3. Represents the closing price of the common stock of the Issuer on the vesting date for the award.
4. F4. Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.
5. F5. Represents the closing price of the common stock of the Issuer on February 27, 2026.
6. F6. These time-based restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. Restricted stock units are settled in shares of the Company's common stock upon vesting.
7. F7. The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on February 28, 2024, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the second 1/3 increment vested on February 27, 2026 (the business day prior to February 28, 2026, which fell on a weekend).
8. F8. Time-based restricted stock units are settled in shares of the Company's common stock upon vesting.
9. F9. The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on March 1, 2023, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the third 1/3 increment vested on February 27, 2026 (the business day prior to March 1, 2026, which fell on a weekend).
10. F10. The price is the weighted average sales price of the aggregate number of shares that were sold by the reporting person. These shares were sold in multiple transactions at prices ranging from $234.00 to $234.34. The reporting person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

FAQ

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

What insider transactions did THC executive Thomas W. Arnst report in this Form 4?

Executive Thomas W. Arnst reported an open-market sale of 24,000 Tenet Healthcare shares and several equity award-related transactions. These included a new grant of 7,520 restricted stock units, exercises of prior RSU awards, and share withholdings to cover tax obligations upon vesting.

How many Tenet Healthcare (THC) shares did Thomas Arnst sell and at what price?

Thomas Arnst sold 24,000 shares of Tenet Healthcare common stock in an open-market transaction at a weighted average price of about $234.04 per share. A footnote states the sales occurred between $234.00 and $234.34 across multiple trades.

What new equity awards did Thomas Arnst receive from Tenet Healthcare (THC)?

Thomas Arnst received a grant of 7,520 time-based restricted stock units labeled as 2026 February RSUs. Footnotes explain these units vest in one-third increments on each of the first, second, and third anniversaries of the grant date and settle in Tenet common stock upon vesting.

How were taxes handled on Thomas Arnst’s Tenet Healthcare equity vesting?

To satisfy tax withholding obligations upon vesting, 1,496, 4,409, and 14,870 Tenet shares were withheld and disposed of. Footnotes clarify these withholdings covered taxes on vested performance share units and restricted stock units, using closing market prices on the vesting date.

How many Tenet Healthcare (THC) shares does Thomas Arnst hold after these transactions?

After the reported transactions, Thomas Arnst directly holds 8,012 shares of Tenet Healthcare common stock. He also holds 7,520 restricted stock units from the February 2026 grant, which will convert into common shares upon future vesting, subject to their time-based vesting schedule.

What happened to Thomas Arnst’s earlier Tenet Healthcare restricted stock unit awards?

Restricted stock units granted in March 2023 and February 2024 partially vested on February 27, 2026. Footnotes state these RSUs vest in one-third annual installments, convert one-for-one into common stock upon vesting, and are settled in Tenet shares with some withheld to pay taxes.

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Accepted by SEC EDGAR 03/03/2026 - 08:00 PM 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^*

Arnst Thomas W

(Last) (First) (Middle)

14201 DALLAS PARKWAY

(Street)

DALLAS TX 75254

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Admin. Officer & GC

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

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

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

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

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	02/27/2026		M		5,604	A	(1)	47,189	D
Common Stock	02/27/2026		M		5,598	A	(1)	52,787	D
Common Stock	02/27/2026		F		1,496(2)	D	$237.58(3)	51,291	D
Common Stock	02/27/2026		F		4,409(4)	D	$239.39(5)	46,882	D
Common Stock	02/27/2026		F		14,870(2)	D	$239.39(5)	32,012	D
Common Stock	03/02/2026		S		24,000	D	$234.04(10)	8,012	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
2026 February Restricted Stock Units	(6)	02/27/2026		A		7,520		(6)	(6)	Common Stock	7,520	$0	7,520	D
2024 February Restricted Stock Units	(7)	02/27/2026		M			5,604	(7)	(7)	Common Stock(8)	5,604	$0	5,605	D
2023 March Restricted Stock Units	(9)	02/27/2026		M			5,598	(9)	(9)	Common Stock(8)	5,598	$0	0	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Reflects shares delivered by reporting person to satisfy withholding taxes due upon vesting of performance share units.

3. Represents the closing price of the common stock of the Issuer on the vesting date for the award.

4. Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.

5. Represents the closing price of the common stock of the Issuer on February 27, 2026.

6. These time-based restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. Restricted stock units are settled in shares of the Company's common stock upon vesting.

7. The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on February 28, 2024, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the second 1/3 increment vested on February 27, 2026 (the business day prior to February 28, 2026, which fell on a weekend).

8. Time-based restricted stock units are settled in shares of the Company's common stock upon vesting.

9. The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on March 1, 2023, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the third 1/3 increment vested on February 27, 2026 (the business day prior to March 1, 2026, which fell on a weekend).

10. The price is the weighted average sales price of the aggregate number of shares that were sold by the reporting person. These shares were sold in multiple transactions at prices ranging from $234.00 to $234.34. The reporting person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.

	Chad J. Wiener, as Attorney-in-fact for Thomas W. Arnst	03/03/2026
	** 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).
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