Daniel J. Cancelmi - 06 Mar 2023 Form 4 Insider Report for TENET HEALTHCARE CORP (THC)

Reporting relationship: EVP & Chief Financial Officer
Issuer ticker: THC
Reported as of: 06 Mar 2023
Net transaction value: -$2,378,643
SEC form: 4
Accepted by SEC: 07 Mar 2023, 20:21:26 UTC
Prior SEC filing: 03 Mar 2023
Next SEC filing: 02 Jan 2024
Source filing: View source filing
Reporting owner signature: Chad J. Wiener, as Attorney-in-Fact for Daniel J. Cancelmi

Key filing fact

Daniel J. Cancelmi filed Form 4 for TENET HEALTHCARE CORP (THC) on 07 Mar 2023.

Key facts

This page summarizes Daniel J. Cancelmi's Form 4 filing for TENET HEALTHCARE CORP (THC).
12 reported transactions and 4 derivative rows are listed below.
Accepted by SEC: 07 Mar 2023, 20:21.

Change

Previous filing in this sequence was filed on 03 Mar 2023.
Current net transaction value: -$2,378,643.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

THC transaction

Common Stock

Options Exercise

Transaction value
Shares: +6,319
Change %: +1.6%
Price
Shares after: 399,134
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F1, F2

THC transaction

Common Stock

Tax liability

Transaction value: $150,762
Shares: -2,487
Change %: -0.62%
Price: $60.62
Shares after: 396,647
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F3, F4

THC transaction

Common Stock

Options Exercise

Transaction value
Shares: +8,673
Change %: +2.2%
Price
Shares after: 405,320
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F2, F5

THC transaction

Common Stock

Tax liability

Transaction value: $202,357
Shares: -3,413
Change %: -0.84%
Price: $59.29
Shares after: 401,907
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F3, F4

THC transaction

Common Stock

Options Exercise

Transaction value
Shares: +14,989
Change %: +3.7%
Price
Shares after: 416,896
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F2, F6

THC transaction

Common Stock

Tax liability

Transaction value: $349,752
Shares: -5,899
Change %: -1.4%
Price: $59.29
Shares after: 410,997
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F3, F4

THC transaction

Common Stock

Options Exercise

Transaction value
Shares: +71,810
Change %: +17%
Price
Shares after: 482,807
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F2, F7

THC transaction

Common Stock

Tax liability

Transaction value: $1,675,773
Shares: -28,264
Change %: -5.9%
Price: $59.29
Shares after: 454,543
Date: 06 Mar 2023
Ownership: Direct
Footnotes: F3, F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

THC transaction Derivative

2022 February Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -6,319
Change %: -33%
Price: $0.000000
Shares after: 12,640
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 6,319
Exercise price
Footnotes: F1, F8

THC transaction Derivative

2021 February Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -8,673
Change %: -50%
Price: $0.000000
Shares after: 8,673
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 8,673
Exercise price
Footnotes: F5, F8

THC transaction Derivative

2020 February Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -14,989
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 14,989
Exercise price
Footnotes: F6, F8

THC transaction Derivative

2020 February Performance-Based Restricted Stock Units

Options Exercise

Transaction value: $0
Shares: -71,810
Change %: -100%
Price: $0.000000^*
Shares after: 0
Date: 06 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 71,810
Exercise price
Footnotes: F7, F8

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 8 footnotes

Footnote 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.

Footnote F2

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

Footnote 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 settlement and vesting of time-based restricted stock units and performance-based restricted stock units granted under the 2019 Stock Incentive Plan.

Footnote F4

Represents the closing price of the common stock of the Issuer on the vesting date.

Footnote 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.

Footnote F6

The restricted stock units were granted pursuant to the 2019 Stock Incentive Plan on February 26, 2020, vest equally in 1/3 increments on the first, second and third anniversaries of the grant date, and the third and final 1/3 increment settled on March 6, 2023.

Footnote F7

On February 26, 2020, the reporting person received a target grant of 44,965 performance-based restricted stock units, scheduled to vest on the third anniversary of the date of grant 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 71,810 units. The performance-based restricted stock units settled on March 6, 2023.

Footnote F8

Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock.