Tenet director exercises 1,333 RSUs into common stock

Director Vineeta Agarwala of Tenet Healthcare Corp exercised previously granted equity awards and increased her direct holdings of common stock.

Rhea-AI Filing Summary

Director Vineeta Agarwala of Tenet Healthcare Corp exercised previously granted equity awards and increased her direct holdings of common stock. She converted 1,333 restricted stock units, each equivalent to one share of Tenet common stock, into the same number of common shares. Following this transaction, she directly owns 4,446 shares of Tenet common stock. The filing shows an exercise of derivative securities with no reported open-market purchases or sales.

Insights

Equity compensation analyst

Routine RSU vesting increases director’s share ownership without any market sale.

Director Vineeta Agarwala exercised 1,333 restricted stock units, which are equity awards that convert into common shares on vesting. Each unit was the economic equivalent of one Tenet common share, so this is a straightforward stock-based compensation event.

No open-market buys or sells were reported, and remaining derivatives are not listed, suggesting a simple vesting-and-hold pattern. After the transaction, she holds 4,446 common shares directly, indicating a modest but increased equity stake aligned with shareholder interests.

Insider Trade Summary

1,333 shares exercised/converted

Exercise 2 txns

Insider Agarwala Vineeta

Role Director

Type	Security	Shares	Price	Value
Exercise	2025 May Restricted Stock Units	1,333	$0.00	$0.00
Exercise	Common Stock	1,333	$0.00	$0.00

Holdings After Transaction: 2025 May Restricted Stock Units — 0 contracts (Direct); Common Stock — 4,446 shares (Direct)

Footnotes (1)

1. F1. Each restricted stock unit was the economic equivalent of one share of Tenet Healthcare Corp (THC) common stock.

Key Figures

RSUs exercised: 1,333 units Common shares received: 1,333 shares Shares owned after transaction: 4,446 shares +3 more

6 metrics

RSUs exercised 1,333 units Restricted stock units converted into common stock on May 22, 2026

Common shares received 1,333 shares Shares of Tenet common stock from RSU conversion

Shares owned after transaction 4,446 shares Director’s direct Tenet common stock holdings following exercise

Exercise price per RSU $0.00 per unit Reported transaction and conversion price for restricted stock units

Transaction code M Exercise or conversion of derivative security

Transaction direction acquire Derivative exercise increased common share holdings

Key Terms

restricted stock units, derivative security, Common Stock, transaction code M

4 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.

derivative security financial

"Transaction code M is described as the 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.

Common Stock financial

"Security title is listed as Common Stock for the non-derivative transaction."

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

transaction code M regulatory

"Transaction code M is labeled as Exercise or conversion of derivative security."

FAQ

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

What did Tenet Healthcare (THC) director Vineeta Agarwala report in this Form 4?

She reported exercising 1,333 restricted stock units into Tenet common stock. This derivative exercise converted equity awards into shares, increasing her direct holdings to 4,446 shares, with no open-market purchases or sales disclosed in the filing.

How many Tenet Healthcare (THC) shares does Vineeta Agarwala hold after the transaction?

After the transaction, she directly owns 4,446 shares of Tenet common stock. This reflects the conversion of 1,333 restricted stock units into an equal number of shares, as each unit was economically equivalent to one common share according to the filing.

What type of security did Vineeta Agarwala exercise in Tenet Healthcare’s Form 4?

She exercised 1,333 "2025 May Restricted Stock Units," a form of derivative security. Each restricted stock unit represented the economic equivalent of one Tenet common share and converted into common stock upon exercise on May 22, 2026.

Did Vineeta Agarwala sell any Tenet Healthcare (THC) shares in this Form 4?

No sales were reported in this Form 4. The filing only shows the exercise of 1,333 restricted stock units into common stock, increasing her direct share ownership to 4,446 shares, with no open-market dispositions or tax-withholding share transfers disclosed.

What does the transaction code M mean in Tenet Healthcare director’s Form 4?

Transaction code M indicates the exercise or conversion of a derivative security. In this case, 1,333 restricted stock units were converted into 1,333 shares of Tenet common stock, reflecting routine equity compensation rather than an open-market purchase or sale.

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

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Accepted by SEC EDGAR 05/26/2026 - 08:00 PM EDT 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
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^*

Agarwala Vineeta

(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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/22/2026		M		1,333	A	(1)	4,446	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
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.

	Chad J. Wiener, as Attorney-in-fact for Vineeta Agarwala	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)