Byers David Raynor 4

What Happened
David Raynor Byers, SVP & Chief Accounting Officer of Ardent Health, acquired 8,859 shares on 2026-03-11 as an award (transaction code A). The Form 4 reports the shares were acquired at $0.00 (compensation award), so the filing shows $0 cash paid. These shares were earned based on 2024 and 2025 performance metrics from performance-vesting restricted stock units originally granted July 18, 2024 and will vest only if Byers remains in service through December 31, 2026.

Key Details

• Transaction date: 2026-03-11; Form 4 filed 2026-03-13 (appears timely).
• Transaction type/code: Award/Grant (A).
• Shares acquired: 8,859 shares at $0.00 (reported acquisition value $0).
• Shares owned after transaction: Not disclosed in the filing.
• Footnote: Shares earned based on 2024 & 2025 performance under RSUs awarded 7/18/2024; vesting contingent on service through 12/31/2026 (F1).
• Tax/withholding: No withholding or sale noted in this filing; taxes typically apply at vesting.
• Market signal: This is a compensation award, not an open-market purchase or sale.

Context
Performance-vesting RSUs reflect compensation tied to company metrics; the award was “earned” but remains subject to time-based vesting (service through 12/31/2026). Because this is an award rather than a purchase or sale, it does not represent an immediate cash investment by the insider or a direct liquidity event.