Tenet director granted 1,188 restricted stock units

BIERMAN JAMES L reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

BIERMAN JAMES L reported acquisition or exercise transactions in this Form 4 filing.

Tenet Healthcare Corp director James L. Bierman reported an award of 1,188 restricted stock units tied to the company’s common stock. The units were granted at no cost and are the economic equivalent of 1,188 shares of common stock. These restricted stock units vest on the first anniversary of the grant date. Bierman may elect to receive up to 37% of the vested units in cash instead of shares, with the remainder settled in stock.

Insider Trade Summary

Grant/Award: 1,188 shares

Grant/Award 1 txn

Insider BIERMAN JAMES L

Role Director

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

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

Footnotes (1)

F1. 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.

Key Figures

RSUs granted: 1,188 units Post-transaction RSUs: 1,188 units Grant price: $0.00 per unit +4 more

7 metrics

RSUs granted 1,188 units Restricted stock units granted on 2026-05-27

Post-transaction RSUs 1,188 units Total derivative units following this grant

Grant price $0.00 per unit Award granted at no purchase price

Underlying common shares 1,188 shares Each RSU equals one Tenet Healthcare common share

Cash election limit 37% Portion of RSUs that may be settled in cash

Vesting timing 1-year anniversary RSUs vest on first anniversary of grant date

Exercise/expiration date 2027-05-27 Listed as both exercise and expiration date for units

Key Terms

restricted stock units, Stock Incentive Plan, economic equivalent, vest, +1 more

5 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 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Tenet Healthcare (THC) director James L. Bierman report on this Form 4?

James L. Bierman reported receiving 1,188 restricted stock units as a compensation award. These units are tied to Tenet Healthcare common stock and were granted at no purchase price under the company’s Stock Incentive Plan, increasing his equity-based compensation position.

How many Tenet Healthcare restricted stock units did James L. Bierman receive?

He received 1,188 restricted stock units in this transaction. Each unit represents the economic equivalent of one share of Tenet Healthcare common stock, providing stock-based compensation that will convert into shares or cash once the vesting conditions are met.

When do James L. Bierman’s 1,188 restricted stock units in Tenet Healthcare vest?

The 1,188 restricted stock units vest on the first anniversary of the grant date. Vesting means Bierman will earn the right to receive shares or cash after one year, assuming he continues to meet applicable service or plan conditions.

Can James L. Bierman receive cash instead of Tenet Healthcare shares for these RSUs?

Yes. Under the award terms, Bierman may elect to receive up to 37% of the restricted stock units in cash. The remaining portion would be settled in Tenet Healthcare common stock once the units vest after one year.

What does it mean that each Tenet Healthcare restricted stock unit is the economic equivalent of one share?

Each unit delivers the same economic value as one share of common stock when it settles. After vesting, Bierman will receive either shares or cash based on the unit value, aligning his compensation with Tenet Healthcare’s share performance.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/28/2026 - 08:00 PM EDT

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^*

BIERMAN JAMES L

(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 James L. Bierman	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