SEC Form 4 · accession 0001209191-16-127814

TENET HEALTHCARE CORP · THC

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Trevor Fetter

Officer — Chairman and CEO · Director

Period of report

Jun 13, 2016

Accepted (ET)

Jun 14, 2016 · 6:02 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 Stock^F1,F2	Jun 13, 2016	M	53,045	—	A	939,531	D
Common Stock^F3	Jun 13, 2016	F	22,253	$27.69	D	917,278	D
Common Stock^F4,F2	Jun 13, 2016	M	106,090	—	A	1,023,368	D
Common Stock^F3	Jun 13, 2016	F	44,505	$27.69	D	978,863	D
Common Stock	holding	—	—		—	2,550	I	By spouse

Table II — derivative securities

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
2013 June Restricted Stock Units^F1,F5	—	Jun 13, 2016	M	53,045	D	—	—	Common Stock	53,045	53,045	D
2013 June Performance-Based Restricted Stock Units^F4,F5	—	Jun 13, 2016	M	106,090	D	—	—	Common Stock	106,090	53,045	D

Explanation of responses

F1As previously reported, on June 13, 2013, the reporting person received a grant of 106,090 time-based restricted stock units that vest in one-half increments on each of the third and sixth anniversaries of the date of grant. The third anniversary occurred on June 13, 2016, resulting in the vesting and settlement of 53,045 shares of common stock as shown in Table I. The remaining 53,045 restricted stock units are shown in Table II, which are scheduled to vest on June 13, 2019.
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.
F4As previously reported, on June 13, 2013, the reporting person received a total target grant of 106,090 performance-based restricted stock units, with fifty percent of the performance-based restricted stock units to vest on June 13, 2016 and fifty percent to vest on June 13, 2019, subject in each case to the Company's achievement of specified performance goals. The actual number of stock units that could vest on June 13, 2016 ranged from 0% to 200% of the target amount of 53,045 performance-based restricted stock units, based on the Company's level of achievement under the applicable performance goal. The performance goal was exceeded and 200.0% of the target grant was awarded, resulting in the vesting and settlement of 106,090 shares of common stock as shown in Table I. The remaining 53,045 performance-based restricted stock units, which remain eligible to vest on June 13, 2019, are shown in Table II.
F5Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock upon vesting.