Tenet Healthcare (NYSE: THC) director exercises RSUs and returns shares to issuer

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Tenet Healthcare Corp director Meghan Fitzgerald reported routine equity compensation activity involving company common stock. On May 22, 2026, she exercised 1,333 restricted stock units, receiving the same number of Tenet common shares. The filing notes each unit was economically equivalent to one THC share.

On the same date, she disposed of 493 common shares back to the issuer at $173.78 per share. After these transactions, she held 17,087 shares of Tenet Healthcare common stock directly, and the referenced 2025 May restricted stock units were fully settled.

Insider Trade Summary

1,333 shares exercised/converted

Mixed 3 txns

Insider Fitzgerald Meghan

Role null

Type	Security	Shares	Price	Value
Exercise	2025 May Restricted Stock Units	1,333	$0.00	--
Exercise	Common Stock	1,333	$0.00	--
Disposition	Common Stock	493	$173.78	$86K

Holdings After Transaction: 2025 May Restricted Stock Units — 0 shares (Direct, null); Common Stock — 17,580 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

RSUs exercised: 1,333 units Shares received: 1,333 shares Shares disposed to issuer: 493 shares +3 more

6 metrics

RSUs exercised 1,333 units 2025 May restricted stock units exercised on May 22, 2026

Shares received 1,333 shares Common stock received upon RSU exercise

Shares disposed to issuer 493 shares Common stock disposition to issuer on May 22, 2026

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

Post-transaction holdings 17,087 shares Tenet common stock held directly after transactions

RSU conversion ratio 1 unit = 1 share Each restricted stock unit economically equivalent to one THC share

Key Terms

restricted stock units, disposition to issuer, exercise or conversion of derivative security, derivative security

4 terms

restricted stock units financial

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

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

disposition to issuer financial

"transaction_code_description": "Disposition to issuer""

exercise or conversion of derivative security financial

"transaction_code_description": "Exercise or conversion of derivative security""

derivative security financial

"transaction_type": "derivative""

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.

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Form 4 Insider Transactions: What Each Field Means →

05/26/2026 - 08:00 PM

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^*

Fitzgerald Meghan

(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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	05/22/2026		M		1,333	A	⁽¹⁾	17,580	D
Common Stock	05/22/2026		D		493	D	$173.78	17,087	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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 Meghan Fitzgerald	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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Meghan Fitzgerald report for Tenet Healthcare (THC)?

Meghan Fitzgerald reported exercising 1,333 restricted stock units into Tenet Healthcare common stock and disposing of 493 common shares back to the issuer. These transactions reflect routine equity compensation activity rather than open-market buying or selling of THC shares.

How many Tenet Healthcare (THC) shares does Meghan Fitzgerald hold after this Form 4?

After the reported transactions, Meghan Fitzgerald directly holds 17,087 shares of Tenet Healthcare common stock. This figure reflects the net result of exercising 1,333 restricted stock units and disposing of 493 shares to the issuer on May 22, 2026.

What happened to Meghan Fitzgerald’s 2025 May restricted stock units at Tenet Healthcare (THC)?

Fitzgerald’s 2025 May restricted stock units were fully settled on May 22, 2026. Each unit was equivalent to one THC share, and she exercised 1,333 units, receiving 1,333 common shares as part of her equity compensation package at Tenet Healthcare.

At what price were Meghan Fitzgerald’s Tenet Healthcare (THC) shares disposed to the issuer?

Fitzgerald disposed 493 Tenet Healthcare common shares to the issuer at $173.78 per share. This disposition to the issuer is coded as a "D" transaction on the Form 4, indicating a transfer back to the company rather than an open-market sale.

Does this Tenet Healthcare (THC) Form 4 show an open-market sale by Meghan Fitzgerald?

The Form 4 shows a disposition of 493 shares to the issuer and an exercise of 1,333 restricted stock units, not an open-market sale. The transactions reflect equity award settlement, with shares transferred back to Tenet rather than sold on the open market.