SEC Form 4 · accession 0001209191-18-027206
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 30, 2018
Accepted (ET)
May 1, 2018 · 7:37 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 30, 2018 | M | 871 | — | A | 43,680 | D | |
| Common StockF3 | Apr 30, 2018 | F | 343 | $23.94 | D | 43,337 | D | |
| Common StockF4,F2 | Apr 30, 2018 | M | 1,434 | — | A | 44,771 | D | |
| Common StockF3 | Apr 30, 2018 | F | 565 | $23.94 | D | 44,206 | 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 30, 2018 | M | 871 | D | — | — | Common Stock | 871 | 0 | D |
| 2015 April Performance-Based Restricted Stock UnitsF4,F5 | — | Apr 30, 2018 | M | 1,434 | D | — | — | Common Stock | 1,434 | 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 (the business day prior to the anniversary date which fell on a weekend), resulting in the vesting and settlement of 870 shares of common stock. The 2nd vesting date occurred on 4/28/17 (the business day prior to the anniversary date which fell on a weekend), resulting in the vesting and settlement of 871 shares of common stock. The 3rd vesting date occurred on 4/30/18, resulting in the vesting and settlement of 871 shares of common stock, as shown in Table I.
- 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. The 3rd vesting date occurred on 4/30/18, resulting in the vesting & settlement of 1,434 shares of common stock, as shown in Table I.
- F5Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock upon vesting.