HANEY CECIL D 4

What Happened

• Cecil D. Haney, a director of Tenet Healthcare Corp (THC), converted/exercised 1,333 restricted stock units (derivative exercise, code M) on May 22, 2026. As part of the settlement he disposed of 493 shares to the issuer at $173.78 per share for $85,674 (code D) and received the remainder as stock.
• Per the filing footnote, Haney settled 37% of the RSUs for cash and 63% for shares — that corresponds to the 493 shares sold for cash and roughly 840 shares issued to him. This appears to be a routine RSU settlement with withholding/sale to issuer rather than an open-market sale.

Key Details

• Transaction date: May 22, 2026; Form 4 filed May 26, 2026.
• Conversion: 1,333 RSUs (reported as derivative exercise, code M).
• Cash disposition: 493 shares sold to issuer at $173.78 = $85,674 (code D).
• Shares retained: ~840 shares issued to the insider (63% of 1,333).
• Footnote: Each RSU equaled one share; 37% cashed out and 63% taken as shares (tax withholding/cash settlement).
• Shares owned after transaction: Not specified in the provided filing.
• Timeliness: Filing date shows May 26 for May 22 transactions; no explicit late-filing flag was provided in the data supplied.

Context

• This was a settlement of restricted stock units (not an open-market sale). The sale of 493 shares to the issuer reflects tax withholding/cash settlement rather than a directional sale on the market.
• Transaction codes: M = exercise/conversion of derivative (RSU), D = disposition to issuer. Such settlements are common when RSUs vest and taxes are withheld.