KERREY J ROBERT 4

What Happened J. Robert Kerrey, a director of Tenet Healthcare Corp. (THC), settled 1,643 restricted stock units (RSUs) on May 22, 2026. Per the filing footnote, 37% of the RSUs were settled for cash and 63% for shares: 607 shares were withheld/sold to the issuer for tax withholding at $173.78 per share, generating $105,484, and the remaining ~1,036 shares were issued to Kerrey.

Key Details

• Transaction date: May 22, 2026. Form 4 filed May 26, 2026 (no late-filing indication in the report).
• RSUs converted: 1,643 restricted stock units (derivative conversion / exercise).
• Shares withheld/sold to issuer (tax withholding): 607 shares at $173.78 each = $105,484.
• Shares issued to insider after withholding: ~1,036 shares (1,643 total less 607 withheld).
• Footnote: Each RSU equals one share; reporting person elected 37% cash / 63% shares for settlement.
• Transaction codes: M = exercise/conversion of derivative (RSU settlement); D = disposition to issuer (withholding/sale).

Context This was not an open-market sale but a routine RSU settlement with shares withheld/sold to cover taxes (a common practice). Such tax-withholding dispositions generally do not signal a deliberate market sell decision by the insider. No executive purchases were reported in this filing.