SEC Form 4 · accession 0001209191-17-029463
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 28, 2017
Accepted (ET)
May 2, 2017 · 8:25 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 28, 2017 | M | 871 | — | A | 13,100 | D | |
| Common StockF3 | Apr 28, 2017 | F | 326 | $15.67 | D | 12,774 | D | |
| Common StockF4,F2 | Apr 28, 2017 | M | 1,435 | — | A | 14,209 | D | |
| Common StockF3 | Apr 28, 2017 | F | 536 | $15.67 | D | 13,673 | D | |
| Common StockF5,F2 | Apr 28, 2017 | M | 18,750 | — | A | 32,423 | D | |
| Common StockF3 | Apr 28, 2017 | F | 7,004 | $15.67 | D | 25,419 | 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,F6 | — | Apr 28, 2017 | M | 871 | D | — | — | Common Stock | 871 | 871 | D |
| 2015 April Performance-Based Restricted Stock UnitsF4,F6 | — | Apr 28, 2017 | M | 1,435 | D | — | — | Common Stock | 1,435 | 1,434 | D |
| 2012 April Restricted Stock UnitsF5,F6 | — | Apr 28, 2017 | M | 18,750 | D | — | — | Common Stock | 18,750 | 0 | D |
Explanation of responses
- F1As previously reported, on 4/30/15, the reporting person received a grant of 2,612 time-based RSUs that vest in 1/3 increments on each of the 1st, 2nd and 3rd anniversaries of the date of grant. The 1st vesting date occurred on 4/29/16, resulting in the vesting and settlement of 870 shares of common stock. The 2nd vesting date occurred on 4/28/17, resulting in the vesting and settlement of 871 shares of common stock, as shown above in Table I. The remaining 871 restricted stock units are shown in Table II, which are scheduled to vest on 4/30/18.
- 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 4/30/15, the reporting person received a target grant of 2,612 performance-based RSUs that were subject to the Company's attainment of a specified one-year performance metric for the year then-ending 12/31/15. The actual number of stock units that could vest ranged from 0% to 200% of the target unit amount. The performance metric was exceeded & 164.7% of the target grant was awarded; therefore, these restricted stock units vest in 1/3 increments on each of the 1st, 2nd & 3rd anniversaries of the date of grant. The 1st vesting date occurred on 4/29/16, resulting in the vesting & settlement of 1,433 shares of common stock. The 2nd vesting date occurred on 4/28/17, resulting in the vesting & settlement of 1,435 shares of common stock, as shown in Table I. The remaining 1,434 performance RSUs are shown in Table II, which are scheduled to vest on 4/30/18.
- F5As previously reported, on 4/30/12, the reporting person received a grant of 18,750 time-based RSUs that vest in full on the 5th anniversary of the date of grant. The 5th anniversary occurred on April 28, 2017, resulting in the vesting and settlement of 18,750 shares of common stock as shown above in Table I.
- F6Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock upon vesting.