Tenet Healthcare (THC) director settles RSUs in cash and stock

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Tenet Healthcare Corp director Nadja West reported routine equity compensation activity. On May 22, 2026, West exercised 1,333 restricted stock units that were economically equivalent to common shares, receiving Tenet common stock at a conversion price of $0.00 per share.

In connection with this settlement, 37% of the restricted stock units were settled for cash and 63% were settled in shares of Tenet common stock. West also disposed of 493 common shares back to the issuer at $173.78 per share. After these transactions, West directly owned 27,805 shares of Tenet common stock.

Insider Trade Summary

1,333 shares exercised/converted

Mixed 3 txns

Insider West Nadja

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 — 28,298 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares disposed to issuer: 493 shares at $173.78 RSUs exercised: 1,333 units at $0.00 Post-transaction holdings: 27,805 shares +2 more

5 metrics

Shares disposed to issuer 493 shares at $173.78 Common stock disposition to issuer on May 22, 2026

RSUs exercised 1,333 units at $0.00 Restricted stock units converted to common stock on May 22, 2026

Post-transaction holdings 27,805 shares Common stock held directly after transactions

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

Share settlement portion 63% of RSUs Portion of restricted stock units settled in Tenet common stock

Key Terms

restricted stock units, disposition to issuer, derivative security

3 terms

restricted stock units financial

"Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp common stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

disposition to issuer financial

"The transaction with 493 common shares is coded as a disposition to issuer."

derivative security financial

"The Form 4 describes the RSU exercise with the code "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^*

West Nadja

(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⁾	28,298	D
Common Stock	05/22/2026		D		493	D	$173.78	27,805	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 Nadja West	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 insider transactions did Tenet Healthcare (THC) director Nadja West report?

Director Nadja West exercised 1,333 restricted stock units into Tenet common stock and disposed of 493 common shares back to the issuer, both on May 22, 2026, as part of routine equity compensation activity.

How many Tenet Healthcare (THC) shares does Nadja West hold after this Form 4?

After the reported transactions, Nadja West directly owns 27,805 shares of Tenet Healthcare common stock. This figure reflects the RSU conversion into shares and the simultaneous disposition of 493 shares back to the issuer on May 22, 2026.

Was Nadja West’s Tenet Healthcare (THC) Form 4 an open-market stock sale?

The Form 4 shows a disposition of 493 shares to the issuer, not an open-market sale. The transactions are tied to the exercise and settlement of restricted stock units, a typical equity compensation mechanism rather than discretionary market trading.

How were Nadja West’s Tenet Healthcare (THC) restricted stock units settled?

Each restricted stock unit equaled one Tenet common share. According to the filing, 37% of the vested restricted stock units were settled for cash and 63% were settled in Tenet Healthcare common stock on May 22, 2026.

What does the disposition of 493 Tenet Healthcare (THC) shares to the issuer mean?

The disposition of 493 shares, coded as a “disposition to issuer,” indicates shares were returned to Tenet Healthcare. This typically occurs in connection with equity compensation settlements, and does not represent an open-market sale to third-party investors.