X0306 4 2012-11-27 0 0000070318 TENET HEALTHCARE CORP THC 0001427971 Fraser Cathy 1445 ROSS AVENUE SUITE 1400 DALLAS TX 75202 0 1 0 0 Senior Vice President Common Stock 2012-11-27 4 S 0 11760 27.82 D 14575 D Common Stock 2012-11-27 4 S 0 2500 27.86 D 12075 D Common Stock 2012-11-27 4 M 0 100000 4.56 A 112075 D Common Stock 2012-11-27 4 F 0 46848 27.87 D 65227 D 2009 Options (Right to Buy) 4.56 2012-11-27 4 M 0 100000 0.00 D 2019-02-26 Common Stock 100000 0 D All historical share and stock option exercise price data in this Form 4 have been restated to reflect a one-for-four reverse stock split effective as of October 11, 2012. The shares were sold in open market broker transactions. The reporting person continues to exceed the Company's stock ownership guidelines. The price is the weighted average sale price of the aggregate number of shares that were sold by the reporting person. These shares were sold in multiple transactions at prices ranging from $27.78 to $27.86. The reporting person undertakes to provide to the issuer, any security holder of the issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price. Represents number of shares withheld by the Company at the direction of the reporting person for the payment of option exercise price and related taxes. No shares of Common Stock were sold by the reporting person in connection with this transaction. The reporting person has retained the net number of shares issued upon the exercise of the option (53,152 shares). As previously reported, the options were granted on February 26, 2009 and vested ratably on each of the first, second and third anniversaries of the date of grant. /s/ Paul A. Castanon, Attorney-in-Fact for Cathy Fraser 2012-11-29