SEC Form 4 · accession 0001209191-16-108222
TENET HEALTHCARE CORP · THC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Keith B Pitts
Officer — Vice Chairman
Period of report
Mar 10, 2016
Accepted (ET)
Mar 14, 2016 · 6:29 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000070318
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2016 March Restricted Stock UnitsF1,F2 | — | Mar 10, 2016 | A | 61,177 | A | — | — | Common Stock | 61,177 | 61,177 | D |
Explanation of responses
- F1In addition to the time-based restricted stock units reported here, on March 10, 2016, the reporting person also received a grant of performance-based restricted stock units, the target amount of which is 61,177 units. The vesting of the units is contingent upon the Company's achievement of specified performance goals for the three year period that ends on December 31, 2018. Provided the goals are achieved, the units will vest in full on the third anniversary of the date of grant. If the performance goals are not achieved, the units will be forfeited. The actual number of units that could vest ranges from 0% to 200% of the target unit amount, depending on the Company's level of achievement with respect to the performance goals.
- F2These time-based restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. Restricted stock units are settled in shares of the Company's common stock upon vesting.