SEC Form 4 · accession 0001209191-16-117113
TENET HEALTHCARE CORP · THC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Jason Eric Evans
Officer — Pres. of Hospital Operations
Period of report
Apr 29, 2016
Accepted (ET)
May 3, 2016 · 6:12 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000070318
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Apr 29, 2016 | M | 870 | — | A | 3,942 | D | |
| Common StockF3 | Apr 29, 2016 | F | 282 | $31.69 | D | 3,660 | D | |
| Common StockF4,F2 | Apr 29, 2016 | M | 1,433 | — | A | 5,093 | D | |
| Common StockF3 | Apr 29, 2016 | F | 464 | $31.69 | D | 4,629 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2015 April Restricted Stock UnitsF1,F5 | — | Apr 29, 2016 | M | 870 | D | — | — | Common Stock | 870 | 1,742 | D |
| 2015 April Performance-Based Restricted Stock UnitsF4,F5 | — | Apr 29, 2016 | M | 1,433 | D | — | — | Common Stock | 1,433 | 2,869 | D |
Explanation of responses
- F1On April 30, 2015, the reporting person received a grant of 2,612 time-based restricted stock units that vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on April 29, 2016, resulting in the vesting and settlement of 870 shares of common stock as shown above in Table I. The remaining 1,742 restricted stock units are shown in Table II, of which 871 are scheduled to vest on each of April 28, 2017 and April 30, 2018.
- F2Restricted stock units convert into common stock on a one-for-one basis.
- F3Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.
- F4On April 30, 2015, the reporting person received a target grant of 2,612 performance-based restricted stock units that were subject to the Company's attainment of a specified one-year performance metric for the year then-ending December 31, 2015. The actual number of stock units that could vest ranged from 0% to 200% of the target unit amount. The performance metric was exceeded and 164.7% of the target grant was awarded; therefore, these restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on April 29, 2016, resulting in the vesting and settlement of 1,433 shares of common stock, as shown in Table I. The remaining 2,869 performance restricted stock units are shown in Table II, of which 1,435 are scheduled to vest on April 28, 2017 and 1,434 are scheduled to vest on April 30, 2018.
- F5Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock.