Company: THC
Filing Date: 2025-10-28
Form Type: 10-Q
Source: 0000070318-25-000046
Chunk: 119

Company: TENET HEALTHCARE CORP
Filing Date: 2025-10-28
Form: 10-Q
Item: Part I, Item 8
Chunk 119
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 and other obligations of our investees to third parties, the maximum potential amount of future payments under which was approximately $59 million at September 30, 2025.

NOTE 7. EMPLOYEE BENEFIT PLANS

The accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2025 and 2024 include $79 million and $52 million, respectively, of pre-tax compensation costs related to our stock‑based compensation arrangements.Stock OptionsAs of September 30, 2025, there were 163,881 stock options outstanding under our share-based compensation plans, which had a weighted average exercise price per share of $24.19. During the nine months ended September 30, 2025 and 2024, 22,616 and 185,943 stock options, respectively, were exercised with an aggregate intrinsic value of $4 million and $17 million, respectively. Other than the exercise of these options, there was no activity related to our stock options during either of the nine-month periods ended September 30, 2025 or 2024. All outstanding options were vested and exercisable at September 30, 2025, and the options collectively had an aggregate intrinsic value of $29 million.Restricted Stock UnitsThe following table presents information about our restricted stock unit (“RSU”) activity during the nine months ended September 30, 2025:Number of RSUsWeighted AverageGrant Date Fair Value Per RSUUnvested at December 31, 20241,481,999 $83.84 Granted596,923 $138.06 Performance-based adjustment255,386 $80.85 Vested(854,205)$80.61 Forfeited(13,571)$95.83 Unvested at September 30, 20251,466,532 $111.16 During the nine months ended September 30, 2025, we granted 317,154 RSUs that will vest over periods ranging from one to four years. In addition, we granted 279,769 performance-based RSUs, the vesting of which is contingent on our achievement of specified performance goals for the years 2025 to 2028. Provided the goals are achieved, the performance‑based RSUs that could vest will range from 0% to 250% of the 279,769 units granted, depending on our level of achievement with respect to