[Form 4] Tenet Healthcare Corporation New Insider Trading Activity

Rhea-AI Filing Summary

Saumya Sutaria, CEO and director of Tenet Healthcare Corporation (THC), reported vesting and related transactions on 08/29/2025. A grant of 53,341 time-based restricted stock units from 2021 vested in full and converted one-for-one into 53,341 shares. Following the vesting and subsequent share transfers to cover taxes and other dispositions, the filing shows Sutaria beneficially owned 447,445 shares.

The filing records shares withheld for taxes: 27,087 shares withheld upon vesting and 54,174 shares delivered to satisfy withholding for performance share units. The report states a reported disposition of 53,341 shares under transaction code M for the conversion event and lists a closing stock price of $184.33 used in the withholding calculation.

Positive

• 53,341 restricted stock units vested and converted into common shares, indicating fulfillment of long-term incentive alignment
• Clear disclosure of shares withheld/delivered for tax obligations and resulting beneficial ownership counts

Negative

• Net beneficial ownership declined after 27,087 shares were withheld for taxes and 54,174 shares were delivered to satisfy withholding
• No indication of additional share purchases to offset dilution from vesting in this filing

Insights

Financial Analyst

TL;DR: Insider vested significant RSUs; net share count decreased after tax-withholding and deliveries, limited direct market-sale activity.

The report documents a time-based RSU grant vesting into 53,341 common shares and the use of 27,087 shares withheld for taxes and 54,174 shares delivered to satisfy other withholding obligations. The transactions are internal-to-plan and do not indicate open-market sales; impact on outstanding float is limited to shares issued and withheld upon vesting. No new derivative positions were created. Overall, these are routine executive compensation settlements rather than active divestiture events.

Corporate Governance Expert

TL;DR: Compensation plan mechanics executed as intended; disclosure is clear on withholding and conversion amounts.

The Form 4 shows full vesting of 2021 RSUs under the company plan and transparent reporting of shares withheld or delivered to satisfy tax obligations. The filing identifies the reporting person as CEO and director and lists direct ownership counts before and after the transactions. These disclosures align with Section 16 reporting requirements and provide necessary transparency on executive equity settlement.

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^*

Sutaria Saumya

(Last) (First) (Middle)

14201 DALLAS PARKWAY

(Street)

DALLAS TX 75254

(City) (State) (Zip)

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
X	Officer (give title below)		Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
08/29/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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	08/29/2025		M		53,341	A	(1)	528,706	D
Common Stock	08/29/2025		F		27,087(2)	D	$184.33(3)	501,619	D
Common Stock	08/29/2025		F		54,174(4)	D	$184.33(3)	447,445	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
2021 September Restricted Stock Units	(5)	08/29/2025		M			53,341	(5)	(5)	Common Stock(6)	53,341	$0	0	D

Explanation of Responses:

1. Restricted stock units convert into common stock on a one-for-one basis.

2. Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.

3. Represents the closing price of the common stock of the Issuer on September 29, 2025.

4. Reflects shares delivered by reporting person to satisfy withholding taxes due upon vesting of performance share units.

5. The restricted stock units were granted on September 1, 2021, pursuant to the 2019 Stock Incentive Plan and vested in full on August 29, 2025 (the business day prior to September 1, 2025, which fell on a federal holiday).

6. Time-based restricted stock units are settled in shares of the Company's common stock upon vesting.

	Chad J. Wiener, as Attorney-in-fact for Saumya Sutaria	09/02/2025
	** 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.

FAQ

What transactions did Tenet Healthcare CEO Saumya Sutaria report on Form 4 (THC)?

The filing reports the vesting of 53,341 restricted stock units on 08/29/2025, with 27,087 shares withheld for taxes and 54,174 shares delivered to satisfy withholding, resulting in 447,445 shares beneficially owned.

Did Saumya Sutaria sell shares of THC in the reported transactions?

No open-market sales are reported. The Form 4 shows conversion of RSUs and shares withheld or delivered for tax withholding, not market-sale transactions.

How many shares did Sutaria own after the reported transactions for THC?

The report shows Sutaria beneficially owned 447,445 shares following the reported transactions.

What price was used in the Form 4 for withholding calculations for THC?

The filing references a closing price of $184.33 used in the withholding calculation.

When were the restricted stock units originally granted to Sutaria?

The restricted stock units were granted on September 1, 2021 under the 2019 Stock Incentive Plan and vested in full on August 29, 2025.