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Sec Form 4 Filing - GLENVIEW CAPITAL MANAGEMENT LLC @ TENET HEALTHCARE CORP - 2019-10-02

  1. About Form 4 Filing: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the U.S. Securities and Exchange Commission (SEC) a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities.
  2. Form 4 is stored in SEC's EDGAR database. EDGAR is Electronic Data Gathering, Analysis and Retrieval System. It is a registered trademark of the SEC.

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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
GLENVIEW CAPITAL MANAGEMENT, LLC
2. Issuer Name and Ticker or Trading Symbol
TENET HEALTHCARE CORP [ THC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
767 FIFTH AVENUE, 44TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
10/02/2019
(Street)
NEW YORK, NY10153
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, $0.05 par value 10/02/2019 P 221,875 ( 1 ) A $ 20.4953 ( 5 ) 19,669,294 ( 3 ) I ( 3 ) See footnotes ( 3 ) ( 4 )
Common Stock, $0.05 par value 10/03/2019 P 39,665 ( 2 ) A $ 20.499 ( 6 ) 19,708,959 ( 3 ) I ( 3 ) See footnotes ( 3 ) ( 4 )
Common Stock, $0.05 par value 52,394 ( 7 ) D ( 3 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
GLENVIEW CAPITAL MANAGEMENT, LLC
767 FIFTH AVENUE
44TH FLOOR
NEW YORK, NY10153
X
ROBBINS LARRY
767 FIFTH AVENUE
44TH FLOOR
NEW YORK, NY10153
X
Signatures
/s/ Mark J. Horowitz, Co-President of Glenview Capital Management, LLC 10/04/2019
** Signature of Reporting Person Date
/s/ Mark J. Horowitz, attorney-in-fact for Larry Robbins 10/04/2019
** Signature of Reporting Person Date
Explanation of Responses:
( 1 )These shares of the Issuer's Common Stock, $0.05 par value per share (the "Shares") were purchased by Glenview Capital Partners, L.P. and Glenview Capital Master Fund, Ltd. in the following amounts: 49,431 Shares were purchased by Glenview Capital Partners, L.P. and 172,444 were purchased by Glenview Capital Master Fund, Ltd.
( 2 )These shares of the Issuer's Common Stock, $0.05 par value per share (the "Shares") were purchased by Glenview Capital Partners, L.P. and Glenview Capital Master Fund, Ltd. in the following amounts: 8,836 Shares were purchased by Glenview Capital Partners, L.P. and 30,829 were purchased by Glenview Capital Master Fund, Ltd.
( 3 )These Shares are held for the accounts of Glenview Capital Partners, L.P., Glenview Capital Master Fund, Ltd., Glenview Institutional Partners, L.P., Glenview Offshore Opportunity Master Fund, Ltd. and Glenview Capital Opportunity Fund, L.P. Glenview Capital Management, LLC serves as investment manager to each of Glenview Capital Partners, L.P., Glenview Capital Master Fund, Ltd., Glenview Institutional Partners, L.P., Glenview Offshore Opportunity Master Fund, Ltd. and Glenview Capital Opportunity Fund, L.P. Mr. Robbins is the Chief Executive Officer of Glenview Capital Management, LLC.
( 4 )Each Reporting Person disclaims beneficial ownership of the Shares except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
( 5 )This price reflects the weighted average purchase price for open-market purchases of Shares made by the Reporting Persons on October 2, 2019 within a $1.00 range. The actual prices for these transactions range from $20.075 to $20.57, inclusive. The Reporting Persons further undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price.
( 6 )This price reflects the weighted average purchase price for open-market purchases of Shares made by the Reporting Persons on October 3, 2019 within a $1.00 range. The actual prices for these transactions range from $20.47 to $20.50, inclusive. The Reporting Persons further undertake to provide upon request by the Commission staff, the Issuer, or a security holder of the Issuer, full information regarding the number of Shares purchased at each separate price.
( 7 )Includes 25,728 vested restricted stock units ("RSUs") that will be settled in Shares on May 5, 2020. Each RSU is the economic equivalent of one Share.

Remarks:
Exhibit List: The Power of Attorney filed as Exhibit B to the Schedule 13D filed by the Reporting Persons on January 19, 2016 is incorporated herein by reference.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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