Tenet Healthcare director exercises RSUs, disposes shares

Tenet Healthcare Corp director Richard J. Mark reported compensation-related share movements.

Rhea-AI Filing Summary

Tenet Healthcare Corp director Richard J. Mark reported compensation-related share movements. On 2026-05-22, he exercised 1,333 restricted stock units into an equal number of common shares at an exercise price of $0.00 per share.

On the same date, he disposed of 493 common shares back to the issuer in a transaction coded "D" at $173.78/share. After these transactions, he directly held 35,121 shares of Tenet Healthcare common stock. A footnote explains that he settled 37% of his restricted stock units for cash and 63% for shares.

Insider Trade Summary

1,333 shares exercised/converted

Exercise 3 txns

Insider MARK RICHARD J

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
Disposition	Common Stock	493	$173.78	$86K

Holdings After Transaction: 2025 May Restricted Stock Units — 0 contracts (Direct); Common Stock — 35,121 shares (Direct)

Footnotes (1)

1. F1. 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.

Key Figures

Shares disposed to issuer: 493 shares Disposition price: $173.78/share RSU shares exercised: 1,333 shares +3 more

6 metrics

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

Disposition price $173.78/share Price for 493 common shares returned to issuer

RSU shares exercised 1,333 shares Common shares received from exercising restricted stock units on May 22, 2026

Post-transaction holdings 35,121 shares Common shares directly owned after disposition transaction

Exercise price of RSUs $0.00/share Restricted stock units converted into common stock at no exercise cost

RSU settlement mix 37% cash, 63% shares Allocation of restricted stock unit settlement between cash and Tenet Healthcare stock

Key Terms

restricted stock unit, disposition to issuer, derivative security

3 terms

restricted stock unit financial

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

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

disposition to issuer financial

"The transaction coded "D" is described as a disposition to issuer of common stock."

derivative security financial

"Transaction code "M" is described as the exercise or conversion of a 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.

FAQ

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

What insider transactions did Tenet Healthcare (THC) director Richard J. Mark report?

Richard J. Mark reported exercising restricted stock units into Tenet Healthcare common stock and returning some shares to the issuer. He acquired 1,333 shares through RSU settlement and disposed of 493 shares to the company, reflecting routine compensation-related activity rather than open-market trading.

How many Tenet Healthcare (THC) shares did the director acquire through RSUs?

He acquired 1,333 Tenet Healthcare common shares by exercising restricted stock units. Each restricted stock unit was economically equivalent to one THC share, and the units were settled partly in cash and partly in stock as part of his equity compensation arrangement.

How many Tenet Healthcare (THC) shares did the director dispose of, and at what price?

He disposed of 493 Tenet Healthcare common shares back to the issuer in a transaction coded as a disposition to issuer. The reported price was $173.78 per share, indicating a company-facing transaction rather than an open-market sale to third-party investors.

What is the director’s Tenet Healthcare (THC) shareholding after these Form 4 transactions?

Following the reported transactions, Richard J. Mark directly owned 35,121 shares of Tenet Healthcare common stock. This figure reflects his position after both the 1,333-share restricted stock unit exercise and the 493-share disposition back to the issuer on the same reported date.

How were the Tenet Healthcare (THC) restricted stock units settled in this filing?

Each restricted stock unit represented one Tenet Healthcare share. According to the footnote, 37% of the units were settled for cash and 63% were settled in THC common stock, resulting in delivery of 1,333 shares to the director as part of this equity award settlement.

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^*

MARK RICHARD J

(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)	35,614	D
Common Stock	05/22/2026		D		493	D	$173.78	35,121	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. 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 Richard J. Mark	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)