Form 4: Tenet Healthcare CEO Saumya Sutaria Reports Stock Transactions
SEC Form 4
Saumya Sutaria, Chairman & CEO of Tenet Healthcare, reports the vesting of restricted stock units and subsequent tax withholding.
Summary
- On March 1, 2024, Saumya Sutaria, Chairman & CEO of Tenet Healthcare Corp, had restricted stock units vest and convert into 36,384 shares of common stock.
- Following the vesting, 18,440 shares were withheld for payment of taxes.
- The price per share for the tax withholding was $94.29, based on the closing price of Tenet Healthcare's common stock on March 1, 2024.
- After these transactions, Sutaria directly owns 496,521 shares of Tenet Healthcare common stock.
- The restricted stock units were granted on March 1, 2023, under the 2019 Stock Incentive Plan and vest in three equal annual installments.
Sentiment
Score: 5
Explanation: Neutral sentiment as it is a standard reporting of stock transactions related to executive compensation.
Positives
- The vesting of restricted stock units indicates a continued alignment of the CEO's interests with those of the shareholders.
Industry Context
This filing is a routine disclosure related to executive compensation and is common in publicly traded companies.
Comparison to Industry Standards
- Executive compensation packages often include restricted stock units that vest over time to incentivize long-term performance.
- Tax withholding upon vesting is a standard practice.
Stakeholder Impact
- The transaction has a minor impact on shareholders as it relates to executive compensation and ownership.
Key Dates
| Date | Description |
|---|---|
| 03/01/2023 | Restricted stock units were granted pursuant to the 2019 Stock Incentive Plan. |
| 03/01/2024 | Restricted stock units vested and converted into common stock; shares withheld for tax payment. |
| 03/05/2024 | Date of the Form 4 filing. |
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