BIERMAN JAMES L 4

What Happened

• James L. Bierman, a director of Tenet Healthcare Corp (THC), was granted 1,188 restricted stock units (RSUs) on 2026-05-27. The award is reported as a derivative grant (code A) at a $0.00 acquisition price; RSUs are the economic equivalent of one share each and do not represent immediate share ownership or a sale.

Key Details

• Transaction date: 2026-05-27; Form 4 filed 2026-05-28 (timely — within SEC reporting window).
• Grant: 1,188 RSUs, reported at $0.00 (award). No cash/market value stated in the filing (market value = 1,188 × Tenet’s share price on grant date).
• Shares owned after transaction: Not disclosed in the provided filing.
• Footnote: RSUs vest on the first anniversary of the grant; the reporting person may elect to receive up to 37% of the RSUs in cash in lieu of shares (see footnote F1).
• Transaction code: A (award/grant of a derivative).

Context

• These RSUs are a compensatory award that will convert into shares (or cash elected) upon vesting; they are neither a purchase nor a sale and do not indicate immediate trading activity. Such grants are common for directors and typically reflect planned compensation rather than a trading signal.