Tenet Healthcare (THC) director granted 1,188 restricted stock units as equity award

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Tenet Healthcare director Richard W. Fisher received a new equity award in the form of restricted stock units. On May 27, 2026, he was granted 1,188 2026 May Restricted Stock Units, each economically equivalent to one share of Tenet’s common stock.

The award was granted under the company’s Stock Incentive Plan at no exercise price and will vest on the first anniversary of the grant date. After this grant, Fisher holds 1,188 restricted stock units directly, and he may elect to receive up to 37% of these units in cash instead of shares at settlement.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FISHER RICHARD W

Role null

Type	Security	Shares	Price	Value
Grant/Award	2026 May Restricted Stock Units	1,188	$0.00	--

Holdings After Transaction: 2026 May Restricted Stock Units — 1,188 shares (Direct, null)

Footnotes (1)

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Key Figures

RSU grant size: 1,188 units Exercise price: $0.00 per unit Underlying shares: 1,188 shares +3 more

6 metrics

RSU grant size 1,188 units Restricted stock units granted May 27, 2026

Exercise price $0.00 per unit Grant of 2026 May Restricted Stock Units

Underlying shares 1,188 shares Common stock underlying the restricted stock units

Post-grant holdings 1,188 units Total restricted stock units following this transaction

Cash election limit 37% Maximum portion of RSUs payable in cash instead of shares

Vesting date First anniversary Units vest one year after the May 27, 2026 grant

Key Terms

restricted stock units, Stock Incentive Plan, economic equivalent, vest

4 terms

restricted stock units financial

"Represents restricted stock units granted under the Company's Stock Incentive Plan."

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.

Stock Incentive Plan financial

"Represents restricted stock units granted under the Company's Stock Incentive Plan."

A stock incentive plan is a company program that gives employees or directors pieces of ownership or the right to buy shares over time, similar to receiving a bonus paid in company stock instead of cash. Investors pay attention because these plans align staff incentives with long‑term company performance but can also dilute existing shareholders and affect reported profits when grants are expensed, so they influence both ownership percentages and financial results.

economic equivalent financial

"Each restricted stock unit is the economic equivalent of one share of the Company's common stock."

vest financial

"These restricted stock units vest on the first anniversary of the date of grant."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

Form 4 Insider Transactions: What Each Field Means →

05/28/2026 - 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^*

FISHER RICHARD W

(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)
05/27/2026

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)

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)
2026 May Restricted Stock Units	⁽¹⁾	05/27/2026		A		1,188		05/27/2027	05/27/2027	Common Stock	1,188	$0	1,188	D

Explanation of Responses:

1. Represents restricted stock units granted under the Company's Stock Incentive Plan. Each restricted stock unit is the economic equivalent of one share of the Company's common stock. These restricted stock units vest on the first anniversary of the date of grant. The reporting person may elect to receive up to 37% of these restricted stock units in cash in lieu of shares.

	Chad J. Wiener, as Attorney-in-fact for Richard W. Fisher	05/28/2026
	** 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 transaction did Tenet Healthcare (THC) report for Richard W. Fisher?

Tenet Healthcare reported that director Richard W. Fisher received a grant of 1,188 restricted stock units on May 27, 2026. This was a compensation-related award under the company’s Stock Incentive Plan, not an open-market purchase or sale of shares.

How many restricted stock units did Richard W. Fisher receive from Tenet Healthcare (THC)?

Richard W. Fisher received 1,188 restricted stock units from Tenet Healthcare. Each unit is economically equivalent to one share of common stock, providing share-based compensation that aligns his interests with shareholders as the units vest over time.

When do Richard W. Fisher’s Tenet Healthcare (THC) restricted stock units vest?

The 1,188 restricted stock units granted to Richard W. Fisher vest on the first anniversary of the May 27, 2026 grant date. Vesting means the units become earned and payable, subject to the compensation plan’s terms and any continued service conditions.

Can Richard W. Fisher receive cash instead of shares for his Tenet Healthcare (THC) RSUs?

Yes. Under the award’s terms, Richard W. Fisher may elect to receive up to 37% of his 1,188 restricted stock units in cash. The remaining portion would be settled in shares of Tenet Healthcare common stock when the units vest.

What type of security was reported in this Tenet Healthcare (THC) Form 4 filing?

The filing reports 2026 May Restricted Stock Units, a derivative security tied to Tenet Healthcare common stock. Each unit is the economic equivalent of one common share and is granted as part of the company’s Stock Incentive Plan for director compensation.

Did Richard W. Fisher buy or sell Tenet Healthcare (THC) shares in the market?

No market buy or sell was reported. The Form 4 shows an acquisition coded as a grant of 1,188 restricted stock units. This is a compensation award, not an open-market transaction, and was received at an exercise price of $0.00 per unit.