SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Reynolds Britt T

(Last)

(First)

(Middle)

1445 ROSS AVENUE,

SUITE 1400

(Street)

DALLAS

75202

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
TENET HEALTHCARE CORP [ THC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Pres. of Hospital Operations

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2015

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock⁽¹⁾	02/26/2015		M		8,645	A	⁽²⁾	25,842	D
Common Stock	02/26/2015		F		2,365⁽³⁾	D	$46.74	23,477	D
Common Stock⁽⁴⁾	02/26/2015		M		17,290	A	⁽²⁾	40,767	D
Common Stock	02/26/2015		F		5,972⁽³⁾	D	$46.74	34,795	D
Common Stock⁽⁵⁾	02/27/2015		M		8,904	A	⁽²⁾	43,699	D
Common Stock	02/27/2015		F		3,736⁽³⁾	D	$46.3	39,963	D
Common Stock⁽⁶⁾	02/27/2015		M		8,904	A	⁽²⁾	48,867	D
Common Stock	02/27/2015		F		3,736⁽³⁾	D	$46.3	45,131	D
Common Stock⁽⁷⁾⁽⁸⁾	02/27/2015		M		5,000	A	⁽²⁾	50,131	D
Common Stock	02/27/2015		F		2,098⁽³⁾	D	$46.3	48,033	D
Common Stock⁽⁸⁾⁽⁹⁾	02/27/2015		M		5,000	A	⁽²⁾	53,033	D
Common Stock	02/27/2015		F		2,098⁽³⁾	D	$46.3	50,935	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
2014 February Restricted Stock Units	⁽¹⁾	02/26/2015		M			8,645	⁽¹⁾	⁽¹⁾	Common Stock⁽¹⁰⁾	8,645	$0.00	17,291	D
2014 February Performance-Based Restricted Stock Units	⁽⁴⁾	02/26/2015		M			17,290	⁽⁴⁾	⁽⁴⁾	Common Stock⁽¹⁰⁾	17,290	$0.00	34,582	D
2013 February Restricted Stock Units	⁽⁵⁾	02/27/2015		M			8,904	⁽⁵⁾	⁽⁵⁾	Common Stock⁽¹⁰⁾	8,904	$0.00	8,904	D
2013 February Performance-Based Restricted Stock Units	⁽⁶⁾	02/27/2015		M			8,904	⁽⁶⁾	⁽⁶⁾	Common Stock⁽¹⁰⁾	8,904	$0.00	8,904	D
2012 February Restricted Stock Units	⁽⁷⁾	02/27/2015		M			5,000	⁽⁷⁾	⁽⁷⁾	Common Stock⁽¹⁰⁾	5,000	$0.00	0	D
2012 February Performance-Based Restricted Stock Units	⁽⁹⁾	02/27/2015		M			5,000	⁽⁹⁾	⁽⁹⁾	Common Stock⁽¹⁰⁾	5,000	$0.00	0	D

Explanation of Responses:

1. As previously reported, on February 26, 2014, the reporting person received a grant of 25,936 time-based restricted stock units that vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 26, 2015, resulting in the vesting and settlement of 8,645 shares of common stock as shown above in Table I. The remaining 17,291 restricted stock units are shown in Table II, of which 8,645 and 8,646 are scheduled to vest on February 26, 2016 and February 26, 2017, respectively.

2. Restricted stock units convert into common stock on a one-for-one basis.

3. Shares withheld for payment of taxes upon vesting of restricted stock units in accordance with Rule 16b-3.

4. As previously reported, on February 26, 2014, the reporting person received a target grant of 25,936 performance-based restricted stock units that were subject to the Company's attainment of a specified one-year performance metric for the year then-ending December 31, 2014. The actual number of stock units that could vest ranged from 0% to 200% of the target unit amount. The performance metric was exceeded and 200% of the target grant was awarded; therefore, these restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 26, 2015, resulting in the vesting and settlement of 17,290 shares of common stock, as shown in Table I. The remaining 34,582 performance restricted stock units are shown in Table II, of which 17,290 and 17,292 are scheduled to vest on February 26, 2016 and February 26, 2017, respectively.

5. As previously reported, on February 28, 2013, the reporting person received a grant of 26,711 time-based restricted stock units that vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 28, 2014, resulting in the vesting and settlement of 8,903 shares of common stock, as shown in Table I. The second vesting date occurred on February 27, 2015 (the business day prior to the anniversary date, which fell on a weekend), resulting in the vesting and settlement of 8,904 shares of common stock, as shown in Table I. The remaining 8,904 restricted stock units are shown in Table II, which are scheduled to vest on February 28, 2016.

6. As previously reported, on February 28, 2013, the reporting person received a grant of 26,711 performance-based restricted stock units that were subject to the Company's attainment of a specified one-year performance metric for the year then-ending December 31, 2013. The performance metric was met; therefore, these restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 28, 2014, resulting in the vesting and settlement of 8,903 shares of common stock. The second vesting date occurred on February 27, 2015 (the business day prior to the anniversary date, which fell on a weekend), resulting in the vesting and settlement of 8,904 shares of common stock, as shown in Table I. The remaining 8,904 performance restricted stock units are shown in Table II, which are scheduled to vest on February 28, 2016.

7. As previously reported, on February 29, 2012, the reporting person received a grant of 15,000 time-based restricted stock units that vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 28, 2013, resulting in the vesting and settlement of 5,000 shares of common stock. The second anniversary occurred on February 28, 2014, resulting in the vesting and settlement of 5,000 shares of common stock. The third vesting date occurred on February 27, 2015 (the business day prior to the anniversary date, which fell on a weekend), resulting in the vesting and settlement of 5,000 shares of common stock, as shown in Table I.

8. All historical share data in this Form 4 have been restated to reflect a one-for-four reverse stock split effective as of October 11, 2012.

9. As previously reported, on February 29, 2012, the reporting person received a grant of 15,000 performance-based restricted stock units that were subject to the Company's attainment of a specified one-year performance metric for the year then-ending December 31, 2012. The performance metric was met; therefore, these restricted stock units vest in one-third increments on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 28, 2013, resulting in the vesting and settlement of 5,000 shares of common stock. The second anniversary occurred on February 28, 2014, resulting in the vesting and settlement of 5,000 shares of common stock, as shown in Table I. The third vesting date occurred on February 27, 2015 (the business day prior to the anniversary date, which fell on a weekend), resulting in the vesting and settlement of 5,000 shares of common stock, as shown in Table I.

10. Both time-based restricted stock units and performance-based restricted stock units are settled in shares of the Company's common stock upon vesting.

Remarks:

	Anthony L. Shoemaker, as Attorney-in-Fact for Britt T. Reynolds	03/02/2015
	** Signature of Reporting Person	Date
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