Thomas W. Arnst - Mar 6, 2023 Form 4 Insider Report for TENET HEALTHCARE CORP (THC)

Role
EVP, Chief Admin. Officer & GC
Signature
Chad J. Wiener, as Attorney-in-Fact for Thomas W. Arnst
Stock symbol
THC
Transactions as of
Mar 6, 2023
Transactions value $
-$706,679
Form type
4
Date filed
3/7/2023, 08:19 PM
Previous filing
Mar 3, 2023
Next filing
Mar 9, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction THC Common Stock Options Exercise +4.21K 4.21K Mar 6, 2023 Direct F1, F2
transaction THC Common Stock Tax liability -$101K -1.66K -39.35% $60.62 2.56K Mar 6, 2023 Direct F3, F4
transaction THC Common Stock Options Exercise +3.87K +151.43% 6.42K Mar 6, 2023 Direct F2, F5
transaction THC Common Stock Tax liability -$90.3K -1.52K -23.71% $59.29 4.9K Mar 6, 2023 Direct F3, F4
transaction THC Common Stock Options Exercise +5.53K +112.85% 10.4K Mar 6, 2023 Direct F2, F6
transaction THC Common Stock Tax liability -$127K -2.18K -20.87% $58.53 8.26K Mar 6, 2023 Direct F3, F4
transaction THC Common Stock Options Exercise +21.1K +255.91% 29.4K Mar 6, 2023 Direct F2, F7
transaction THC Common Stock Tax liability -$338K -5.78K -19.66% $58.53 23.6K Mar 6, 2023 Direct F3, F4
transaction THC Common Stock Sale -$50.3K -825 -3.5% $61.00 22.8K Mar 6, 2023 Direct F8

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction THC 2022 February Restricted Stock Units Options Exercise $0 -4.21K -33.33% $0.00 8.43K Mar 6, 2023 Common Stock 4.21K Direct F1, F9
transaction THC 2021 February Restricted Stock Units Options Exercise $0 -3.87K -48.21% $0.00 4.16K Mar 6, 2023 Common Stock 3.87K Direct F5, F9
transaction THC 2020 February Restricted Stock Units Options Exercise $0 -5.53K -100% $0.00* 0 Mar 6, 2023 Common Stock 5.53K Direct F6, F9
transaction THC 2020 February Performance-Based Restricted Stock Units Options Exercise $0 -21.1K -100% $0.00* 0 Mar 6, 2023 Common Stock 21.1K Direct F7, F9, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on February 23, 2022, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the first 1/3 increment settled on March 6, 2023.
F2 Restricted stock units convert into common stock on a one-for-one basis.
F3 The transaction reported reflects the withholding of shares of common stock in satisfaction of the Reporting Person's tax liability in connection with the vesting and settlement of time-based restricted stock units and performance-based restricted stock units granted under the 2019 Stock Incentive Plan.
F4 Represents the closing price of the common stock of the Issuer on the vesting date.
F5 The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on February 24, 2021, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the second 1/3 increment settled on March 6, 2023.
F6 The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on June 2, 2020, vest equally in one-third increments on February 28, 2021, February 28, 2022 and February 28, 2023, and the third and final 1/3 increment settled on March 6, 2023.
F7 On June 2, 2020, the reporting person received a target grant of 16,594 performance-based restricted stock units, scheduled to vest on February 28, 2023, subject to the Company's attainment of specified performance goals and the level of achievement thereof. The performance goals were exceeded, and the award was certified at a payout of 21,125 units. The performance-based restricted stock units settled on March 6, 2023.
F8 The price is the weighted average sales price of the aggregate number of shares that were sold by the reporting person. These shares were sold in multiple transactions at prices ranging from $61.00 to $61.01. The reporting person undertakes to provide to the Company, any security holder of the Company or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price.
F9 Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock.
F10 The amount of performance-based restricted stock units received reflects a prior transfer of performance-based restricted stock units to the former spouse of the Reporting Person in accordance with the terms of a divorce agreement.