[Form 4] TENET HEALTHCARE CORP Insider Trading Activity

Rhea-AI Filing Summary

Tenet Healthcare (THC) director Tammy Romo reported open‑market sales of 26,855 shares on November 3–4, 2025. Trades occurred in multiple transactions within a per‑share range of $200.00 to $204.93, with weighted‑average prices disclosed for each tranche.

Following these transactions, Romo beneficially owns 35,511 shares, held directly. The filing lists tranches of 8,654, 5,945, 500, 11,410 and 346 shares at weighted‑average prices of $200.43, $201.23, $202.27, $204.04 and $204.93, respectively.

Insider Trade Summary

Net Seller: 26,855 shares ($5,430,971)

Net Sell 5 txns

Insider Romo Tammy

Role Director

Sold 26,855 shs ($5.43M)

Type	Security	Shares	Price	Value
Sale	Common Stock	11,410	$204.04	$2.33M
Sale	Common Stock	346	$204.93	$71K
Sale	Common Stock	8,654	$200.43	$1.73M
Sale	Common Stock	5,945	$201.23	$1.20M
Sale	Common Stock	500	$202.27	$101K

Holdings After Transaction: Common Stock — 35,857 shares (Direct)

Footnotes (1)

1. 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 $200.00 to $200.87. 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. 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 $201.01 to $201.72. 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 $202.26 to $202.27. 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 $203.69 to $204.63.

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Form 4 Insider Transactions: What Each Field Means →

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^*

Romo Tammy

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

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	11/03/2025		S		8,654	D	$200.43(1)(2)	53,712	D
Common Stock	11/03/2025		S		5,945	D	$201.23(2)(3)	47,767	D
Common Stock	11/03/2025		S		500	D	$202.27(2)(4)	47,267	D
Common Stock	11/04/2025		S		11,410	D	$204.04(2)(5)	35,857	D
Common Stock	11/04/2025		S		346	D	$204.93	35,511	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

Explanation of Responses:

1. 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 $200.00 to $200.87.

2. 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.

3. 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 $201.01 to $201.72.

4. 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 $202.26 to $202.27.

5. 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 $203.69 to $204.63.

	Chad J. Wiener as Attorney-in-Fact for Tammy Romo	11/05/2025
	** 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.