Company: THC
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001193125-25-079143
Chunk: 43

Company: TENET HEALTHCARE CORP
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 43
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 single year of superior performance   •  Applying the Relative TSR multiplier over the full performance period strengthens long-term shareholder alignment and motivates our executives to achieve long-term share price appreciation |
| Time-Based RSUs                  |     | •  Time-based RSUs vest ratably over three years based on continued service   •  Represents 40% of Dr. Sutaria’s 2024 target LTI awards and 50% of each other NEO’s 2024 target LTI award                                                                                                                                                                                                                                                                                                                 |     | •  Aligns economic interests of executives and shareholders through equity ownership   •  Provides strong retentive value                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |

| * | See Appendix A for definitions of Adjusted EPS and Adjusted Free Cash Flow; cash distributions paid to NCI are as reflected on the Company’s consolidated statements of cash flows. |

| 2025 PROXY STATEMENT |     | 49 |

Compensation Discussion & Analysis Detailed Description and Analysis Dr. Sutaria Employment Agreement On January 23, 2025, we entered into an amended and restated employment agreement with Dr. Sutaria (the “Sutaria Agreement”), which replaced his prior amended and restated employment agreement with the Company (the “Prior Sutaria Agreement”). The Sutaria Agreement provides for an initial term commencing on the effective date and concluding December 31, 2028, with automatic extensions for successive one-yearterms unless either party provides advance notice of an intention not to renew and subject to earlier termination in accordance with the terms of the agreement. The Sutaria Agreement provides for (i) an annual base salary of $1,500,000 (subject to increases from time to time), (ii) a target annual incentive bonus under the AIP beginning in 2025 of no less than 200% of Dr. Sutaria’s base salary and (iii) an annual Company contribution to the Company’s Executive Retirement Account (a non-qualifieddeferred compensation plan described further on page 69) of no less than $250,000. The Sutaria Agreement also provides for the grant of a one-time LTI award with a target value of $18 million as a signing and retention incentive on the effective date. The retention LTI award was granted 40% in time-based RSUs that vest ratably over four years based on continued service and 60% in performance-based RSUs that vest at