Company: THC
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001193125-25-079143
Chunk: 45

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 45
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 the Company must meet the goals communicated to shareholders. The AIP also includes (i) an individual performance component to focus directly on the contributions of each NEO and to reflect performance on qualitative factors like leadership, integrity, promotion of Company values, and positive influence on Company culture, and (ii) a quality and compliance multiplier that promotes a culture of quality and compliance by rewarding or penalizing executives for clinical events, adherence to policies and procedures, and audit results. Final individual payouts under the AIP are determined as follows: 2024 Target Annual Incentive Award Levels for Named Executive Officers In 2024, the HR Committee approved the following target bonus award levels for each NEO. In consideration of the data provided by our independent compensation consultant, no changes were made to target bonuses for the 2024 AIP.

| Named Executive Officer |     | Target Award Relative   to Base Salary |     |     |   |
| Saum Sutaria            |     |                                        |     | 150 | % |
| Sun Park                |     |                                        |     | 100 | % |
| Tom Arnst               |     |                                        |     |  75 | % |
| Lisa Foo                |     |                                        |     |  75 | % |
| Paola Arbour            |     |                                        |     |  75 | % |

2024 AIP Performance Metrics and Results Funding for the 2024 AIP pool was based on the Company’s total annual Adjusted EBITDA (weighted 70%) and Adjusted FCF Less NCI (weighted 30%). Payout of each of these metrics could range from 0% to 200% depending on performance. The HR Committee continued to use Adjusted EBITDA as the most significant metric because it remains the primary measure used by financial analysts and investors to judge the Company’s financial performance. The HR Committee also continued to use Adjusted FCF Less NCI as a metric because it captures the Company’s ability to sustainably generate cash that can be used for the Company’s long-term strategic goals, which may include acquisitions, investments in joint ventures, and/or repurchases of outstanding equity or debt securities, as well as other general corporate purposes. Furthermore, free cash flow generation allows the Company to fund growth without raising additional debt and can also be used to retire existing indebtedness, both of which enhance long-term shareholder value. Given the importance of Adjusted FCF Less NCI to both short-term and long-term value creation for shareholders,