Form 4: Tenet Healthcare Director J. Robert Kerrey Reports Stock Sales and Gift Transactions
SEC Form 4
Director J. Robert Kerrey reported multiple sales and gift transactions involving Tenet Healthcare Corp (THC) common stock between May 30 and May 31, 2024.
Summary
- J. Robert Kerrey, a director of Tenet Healthcare Corp (THC), filed a Form 4 detailing changes in beneficial ownership.
- On May 30, 2024, Kerrey sold 6,358 shares of common stock at a weighted average price of $133.20, with prices ranging from $133.20 to $134.15.
- He also sold 7,964 shares at a weighted average price of $134.65, with prices ranging from $134.22 to $134.95 on the same day.
- Kerrey gifted 9,500 shares to an immediate family member on May 30, 2024.
- On May 31, 2024, Kerrey's immediate family member sold 8,699 shares at a weighted average price of $133.30, with prices ranging from $133.09 to $134.06.
- Additionally, the immediate family member sold 697 shares at a weighted average price of $134.44, with prices ranging from $134.10 to $134.92, and 104 shares at a weighted average price of $135.17, with prices ranging from $135.16 to $135.36 on May 31, 2024.
- Following these transactions, Kerrey directly owns 36,903 shares and indirectly owns 9,500 shares through an immediate family member.
Sentiment
Score: 5
Explanation: The document is a standard SEC filing reporting stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about insider trading activity.
Industry Context
This Form 4 filing is a routine disclosure of stock transactions by a company insider, providing transparency to investors regarding the trading activities of key personnel. It's common for directors and officers to periodically buy or sell shares of their company's stock.
Related Party Transactions
- The reporting person gifted securities to an immediate family member, who then sold those shares.
Stakeholder Impact
- The stock sales by a director and their family member could be perceived negatively by shareholders if interpreted as a lack of confidence in the company, although such transactions are common and don't necessarily indicate a negative outlook.
Key Dates
| Date | Description |
|---|---|
| 05/30/2024 | Director J. Robert Kerrey sold shares of common stock and gifted shares to an immediate family member. |
| 05/31/2024 | Immediate family member of Director J. Robert Kerrey sold shares of common stock. |
| 06/03/2024 | Date of Form 4 signature. |
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