Tenet Reports Inducement Awards under NYSE Rule 303A.08
January 22 2020 - 5:30PM
Business Wire
Tenet Healthcare Corporation (NYSE: THC) announced the issuance
today of restricted stock unit awards to Joseph F. Eazor, the new
President and Chief Executive Officer of Tenet’s Conifer Health
Solutions business unit. These awards were issued to induce Mr.
Eazor to enter into employment with Conifer and were issued outside
of Tenet’s shareholder-approved stock incentive plan, in reliance
on the inducement award exception contained in NYSE Listing Rule
303A.08.
The awards to Mr. Eazor consist of (i) 104,167 RSUs (24,039 of
which are intended to replace equity awards that Mr. Eazor will
forfeit from his prior employment) that will vest based solely on
continued employment during the four-year vesting period and (ii)
80,128 RSUs that will vest based on both continued employment
during the four-year vesting period and achievement of annual
performance criteria that will be established by Tenet’s Human
Resources Committee (or its designee) on an annual basis. The
80,128 performance-based RSUs represent the number of shares of
Tenet stock that would be earned at target levels of performance
(the “Target Shares”). The actual number of shares that may be
earned with respect to the performance-based portion of the awards
will vary between zero and 200% of the Target Shares, depending on
actual performance.
The inducement awards were made outside of the Tenet Healthcare
2019 Stock Incentive Plan (the “Tenet Stock Incentive Plan”), are
subject to accelerated vesting upon certain termination events and
will be subject to terms and conditions that are substantially
similar to RSUs granted under the Tenet Stock Incentive Plan.
About Tenet Healthcare
Tenet Healthcare Corporation (NYSE: THC) is a diversified
healthcare services company headquartered in Dallas with 110,000
employees. Through an expansive care network that includes United
Surgical Partners International, we operate 65 hospitals and
approximately 500 other healthcare facilities, including surgical
hospitals, ambulatory surgery centers, urgent care and imaging
centers and other care sites and clinics. We also operate Conifer
Health Solutions, which provides revenue cycle management and
value-based care services to hospitals, health systems, physician
practices, employers and other customers. Across the Tenet
enterprise, we are united by our mission to deliver quality,
compassionate care in the communities we serve. For more
information, please visit www.tenethealth.com.
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Investor Contact Regina Nethery 469-893-2387
Regina.nethery@tenethealth.com
Media Contact Lesley Bogdanow 469-893-2640
mediarelations@tenethealth.com
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