[Form 4] TENET HEALTHCARE CORP Insider Trading Activity

Rhea-AI Filing Summary

Saumya Sutaria, identified as both a director and the CEO of Tenet Healthcare Corp (THC), reported the sale of common stock on 09/10/2025. The Form 4 discloses two separate sale transactions: 59,456 shares sold at a weighted average price of $190.48 (prices ranged $190.14–$191.05) and 19,306 shares sold at a weighted average price of $191.70 (prices ranged $191.18–$192.06), for a total of 78,762 shares sold. Following the reported transactions, beneficial ownership is reported as 387,989 shares after the first set of sales and 368,683 shares after the second set. The Form 4 is dated and signed on behalf of Ms. Sutaria by an attorney-in-fact, Chad J. Wiener, on 09/12/2025. The filing includes undertakings to provide breakouts of shares sold at each price upon request.

Positive

• Transparent disclosure of two insider sale transactions with weighted-average prices and price ranges provided
• Filing executed by an authorized representative (attorney-in-fact) and includes undertakings to provide per-price sale details on request

Negative

• Insider sold 78,762 shares (59,456 and 19,306 shares) which reduces beneficial ownership to 368,683 shares after reported sales
• No statement in the Form 4 indicating the sales were made pursuant to a 10b5-1 plan or other prearranged instruction

Insights

Securities Analyst

TL;DR: The CEO/director sold 78,762 Tenet shares across two trades on 09/10/2025; filings are complete and provide weighted-average price ranges.

The transactions are clearly disclosed with weighted-average prices and disclosed price ranges, which preserves transparency for the market. The filing shows the reporting person remains a substantial shareholder with 368,683 shares after the second sale. There is no information in the Form 4 about pre-arranged plans or reasons for the sales, and no derivative transactions were reported. From a trading-impact perspective, the Form 4 documents routine insider sales but does not provide context to assess whether these sales are part of a pre-established plan or if they materially change control or economic alignment.

Corporate Governance Expert

TL;DR: The report shows timely disclosure of insider sales by a named officer/director, with an attorney-in-fact signature, meeting SEC reporting requirements.

The Form 4 includes required explanatory language and an undertaking to provide per-price sale details if requested, which supports compliance and disclosure quality. The signature by an attorney-in-fact on 09/12/2025 indicates the filer used an authorized representative to submit the report. The filing does not state whether the sales were pursuant to a Rule 10b5-1 plan or other prearranged instructions, so corporate governance observers cannot determine whether the transactions were scheduled or discretionary from this filing alone.

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^*

Sutaria Saumya

(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
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/10/2025

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	09/10/2025		S		59,456	D	$190.48(1)	387,989	D
Common Stock	09/10/2025		S		19,306	D	$191.7(2)	368,683	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 $190.14 to $191.05. 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.

2. 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 $191.18 to $192.06. 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 Saumya Sutaria	09/12/2025
	** 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.

FAQ

What did Tenet Healthcare (THC) insider Saumya Sutaria report on Form 4?

The Form 4 reports that Saumya Sutaria, a director and CEO, sold 59,456 shares at a weighted average of $190.48 and 19,306 shares at a weighted average of $191.70 on 09/10/2025.

How many total shares did Saumya Sutaria sell according to the filing?

The filing discloses a total of 78,762 shares sold on 09/10/2025.

What was Saumya Sutaria's reported beneficial ownership after the sales?

The Form 4 shows beneficial ownership of 387,989 shares after the first reported sale and 368,683 shares after the second reported sale.

Were the sales part of a 10b5-1 plan according to the Form 4?

The Form 4 does not state that the transactions were made pursuant to a 10b5-1 plan; no such plan is disclosed in this filing.

Who signed the Form 4 and when was it signed?

The Form 4 was signed on behalf of Saumya Sutaria by attorney-in-fact Chad J. Wiener on 09/12/2025.