Thomas W. Arnst - 06 Mar 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
Issuer symbol: THC
Transactions as of: 06 Mar 2023
Transactions value $: -$706,679
Form type: 4
Filing time: 07 Mar 2023, 20:19:09 UTC
Previous filing: 03 Mar 2023
Next filing: 09 Mar 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	THC	Common Stock	Options Exercise		+4,213			4,213	06 Mar 2023	Direct	F1, F2
transaction	THC	Common Stock	Tax liability	-$100,507	-1,658	-39.35%	$60.62	2,555	06 Mar 2023	Direct	F3, F4
transaction	THC	Common Stock	Options Exercise		+3,869	+1.51%		6,424	06 Mar 2023	Direct	F2, F5
transaction	THC	Common Stock	Tax liability	-$90,298	-1,523	-23.71%	$59.29	4,901	06 Mar 2023	Direct	F3, F4
transaction	THC	Common Stock	Options Exercise		+5,531	+1.13%		10,432	06 Mar 2023	Direct	F2, F6
transaction	THC	Common Stock	Tax liability	-$127,419	-2,177	-20.87%	$58.53	8,255	06 Mar 2023	Direct	F3, F4
transaction	THC	Common Stock	Options Exercise		+21,125	+2.56%		29,380	06 Mar 2023	Direct	F2, F7
transaction	THC	Common Stock	Tax liability	-$338,127	-5,777	-19.66%	$58.53	23,603	06 Mar 2023	Direct	F3, F4
transaction	THC	Common Stock	Sale	-$50,325	-825	-3.5%	$61	22,778	06 Mar 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	-4,213	-33.33%	$0	8,427	06 Mar 2023	Common Stock	4,213		Direct	F1, F9
transaction	THC	2021 February Restricted Stock Units	Options Exercise	$0	-3,869	-48.21%	$0	4,156	06 Mar 2023	Common Stock	3,869		Direct	F5, F9
transaction	THC	2020 February Restricted Stock Units	Options Exercise	$0	-5,531	-100%	$0^*	0	06 Mar 2023	Common Stock	5,531		Direct	F6, F9
transaction	THC	2020 February Performance-Based Restricted Stock Units	Options Exercise	$0	-21,125	-100%	$0^*	0	06 Mar 2023	Common Stock	21,125		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.