Tenet (NYSE: THC) director settles RSUs, returns shares to company

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Tenet Healthcare director Tammy Romo reported routine equity compensation activity involving restricted stock units. On May 22, 2026, Romo exercised 1,333 restricted stock units, each equivalent to one share of common stock, and converted them into Tenet common shares.

On the same date, Romo returned 493 common shares to Tenet at $173.78 per share in a disposition to the issuer. After these transactions, Romo directly holds 36,199 common shares. A footnote states that 37% of the restricted stock units were settled for cash and 63% were settled in Tenet common stock.

Insider Trade Summary

1,333 shares exercised/converted

Mixed 3 txns

Insider Romo Tammy

Role null

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

Holdings After Transaction: 2025 May Restricted Stock Units — 0 shares (Direct, null); Common Stock — 36,199 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares returned to issuer: 493 shares Disposition price: $173.78/share RSUs exercised: 1,333 units +3 more

6 metrics

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

Disposition price $173.78/share Price for 493 Tenet common shares returned to issuer

RSUs exercised 1,333 units Restricted stock units converted into common stock on May 22, 2026

Post-transaction holdings 36,199 shares Tenet common shares directly held by Tammy Romo after transactions

RSU cash settlement portion 37% Portion of restricted stock units settled for cash

RSU share settlement portion 63% Portion of restricted stock units settled in Tenet common stock

Key Terms

restricted stock unit, disposition to issuer, derivative security

3 terms

restricted stock unit financial

"Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp (THC) 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_description": "Disposition to issuer""

derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

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.

Form 4 Insider Transactions: What Each Field Means →

05/26/2026 - 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^*

Romo Tammy

(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)
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)
Common Stock	05/22/2026		M		1,333	A	⁽¹⁾	36,199	D
Common Stock	05/22/2026		D		493	D	$173.78	35,706	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)
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)
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 Tammy Romo	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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Tenet Healthcare (THC) director Tammy Romo report in this Form 4?

Tammy Romo reported exercising 1,333 restricted stock units into Tenet common shares and returning 493 common shares to the issuer. These actions reflect routine equity compensation activity rather than open-market buying or selling of Tenet Healthcare stock.

How many Tenet Healthcare shares does Tammy Romo hold after these transactions?

Following the reported transactions, Tammy Romo directly holds 36,199 shares of Tenet Healthcare common stock. This post-transaction balance shows she retains a substantial equity position in the company after settling her restricted stock units and returning shares to the issuer.

What was the size and price of the shares Romo disposed of to Tenet Healthcare?

Romo disposed of 493 shares of Tenet Healthcare common stock back to the issuer at a price of $173.78 per share. This disposition was coded as a return of shares to the company, not an open-market sale to other investors.

How were Tammy Romo’s restricted stock units in Tenet Healthcare settled?

Each restricted stock unit was economically equivalent to one Tenet common share. According to the disclosure, 37% of Romo’s restricted stock units were settled for cash, while the remaining 63% were settled in newly issued Tenet Healthcare common stock.

Does this Tenet Healthcare Form 4 show open-market buying or selling by Tammy Romo?

The filing does not show open-market purchases or sales. It reports an exercise of 1,333 restricted stock units into Tenet common shares and a disposition of 493 shares back to the issuer, consistent with equity compensation and share-return activity rather than market trading.