Tenet EVP Arbour reports RSU vesting, tax shares

Tenet Healthcare EVP and CIO Paola M. Arbour reported equity compensation activity, not open‑market trading.

Rhea-AI Filing Summary

Tenet Healthcare EVP and CIO Paola M. Arbour reported equity compensation activity, not open‑market trading. On February 27, 2026, 1,868 restricted stock units from a February 2024 grant and 2,799 units from a March 2023 grant converted into an equal number of common shares. To cover withholding taxes upon vesting of performance and time-based restricted stock units, 499, 1,838 and 6,810 common shares were withheld at closing prices of $237.58 and $239.39 per share. After these conversions and tax-withholding dispositions, Arbour directly held 35,791 shares of Tenet Healthcare common stock.

Insider Trade Summary

4,667 shares exercised/converted

Exercise 7 txns

Insider Arbour Paola M

Role EVP, Chief Information Officer

Type	Security	Shares	Price	Value
Exercise	2024 February Restricted Stock Units	1,868	$0.00	$0.00
Exercise	2023 March Restricted Stock Units	2,799	$0.00	$0.00
Exercise	Common Stock	1,868	$0.00	$0.00
Exercise	Common Stock	2,799	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	499	$237.58	$119K
Exercise Price or Tax Liability	Common Stock	1,838	$239.39	$440K
Exercise Price or Tax Liability	Common Stock	6,810	$239.39	$1.63M

Holdings After Transaction: 2024 February Restricted Stock Units — 1,869 contracts (Direct); 2023 March Restricted Stock Units — 0 contracts (Direct); Common Stock — 35,791 shares (Direct)

Footnotes (8)

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. 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).
7. F7. Time-based restricted stock units are settled in shares of the Company's common stock upon vesting.
8. F8. 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).

FAQ

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What did Tenet Healthcare (THC) executive Paola Arbour report on this Form 4?

Paola Arbour reported vesting and settlement of restricted stock units that converted into Tenet Healthcare common stock, plus share withholdings to pay related taxes. These transactions reflect routine equity compensation mechanics rather than open-market purchases or sales of THC shares.

How many Tenet Healthcare restricted stock units vested for Paola Arbour?

A total of 1,868 restricted stock units from a February 2024 grant and 2,799 units from a March 2023 grant vested. Each unit converted into one Tenet Healthcare common share as part of the company’s 2019 Stock Incentive Plan award terms.

Were any of Paola Arbour’s Tenet Healthcare share transactions open-market sales?

No, the reported dispositions were tax-withholding events, not open-market sales. Shares were automatically withheld to satisfy tax liabilities triggered by vesting of performance and time-based restricted stock units, using the issuer’s common stock closing prices on the vesting date.

At what prices were Tenet Healthcare shares valued for the tax withholdings?

Tax-withholding dispositions used closing prices of $237.58 and $239.39 per Tenet Healthcare share. These values represent the issuer’s common stock closing prices on the relevant vesting date, as specified in the filing footnotes.

How many Tenet Healthcare shares did Paola Arbour hold after these transactions?

Following the restricted stock unit conversions and tax-withholding share dispositions, Paola Arbour directly held 35,791 shares of Tenet Healthcare common stock. This figure reflects her updated direct beneficial ownership as of the reported transaction date.

What plans governed the Tenet Healthcare restricted stock units reported by Paola Arbour?

The restricted stock units were granted under Tenet Healthcare’s 2019 Stock Incentive Plan. They vest in equal one-third increments over three years, with vested units settled in company common stock on the applicable vesting dates described in the footnotes.

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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
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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^*

Arbour Paola M

(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 Information Officer

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		1,868	A	(1)	42,139	D
Common Stock	02/27/2026		M		2,799	A	(1)	44,938	D
Common Stock	02/27/2026		F		499(2)	D	$237.58(3)	44,439	D
Common Stock	02/27/2026		F		1,838(4)	D	$239.39(5)	42,601	D
Common Stock	02/27/2026		F		6,810(2)	D	$239.39(5)	35,791	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
2024 February Restricted Stock Units	(6)	02/27/2026		M			1,868	(6)	(6)	Common Stock(7)	1,868	$0	1,869	D
2023 March Restricted Stock Units	(8)	02/27/2026		M			2,799	(8)	(8)	Common Stock(7)	2,799	$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. 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).

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

8. 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).

	Chad J. Wiener, as Attorney-in-fact for Paola M. Arbour	03/03/2026
	** Signature of Reporting Person	Date
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