Sales are small relative to market cap and involve directors rather than C-suite — no material signal. Monitor for any C-suite selling in future filings, which would carry more weight.
Price Chart
Executive Summary
Two directors at Tenet Healthcare sold a combined $4.08M in open-market sales over a 5-day window, with no indication of 10b5-1 plans. The total value represents approximately 0.06% of the company's market cap, which is below the 0.1% materiality threshold, making this a routine diversification event rather than a bearish signal.
Key Financial Metrics
Key Facts
- Director J. Robert Kerrey sold 5,500 shares at $263.04 for $1.44M on 2026-09-14
- Director Richard J. Mark sold 10,000 shares at $263.42 for $2.63M on 2026-09-10
- Total insider sales of $4.08M represent ~0.06% of market cap
- Both sellers are directors, not C-suite executives
- No 10b5-1 plan indication on either trade
- No open-market purchases in the cluster
Financial Impact
Total sales of $4.08M, approximately 0.06% of market cap — trivial relative to company size
Risk Factors
- Insider selling pattern could escalate if C-suite joins
- No offsetting insider buying to signal confidence
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-THC-1789603271047 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | Institutional Cluster | $260.41 | awaiting T+20 | — | $262.05 (+0.63%) |
Sep 22, 2026 5w ago | 8-K | $256.44 $269.13 | ▲ +4.95% | ▲ +4.26% | $262.05 (+2.19%) |
Sep 16, 2026 5w ago | Insider Cluster | $261.90 $275.13 | ▲ +5.05% | ▲ +3.85% | $262.05 (+0.06%) |
Sep 11, 2026 6w ago | Court Ruling | $264.51 $268.76 | ▲ +1.61% | ▼ −0.66% | $262.05 (−0.93%) |
Sep 3, 2026 7w ago | Insider Cluster | $265.05 $259.47 | ▼ −2.11% | ▼ −2.71% | $262.05 (−1.13%) |
Sep 1, 2026 7w ago | Insider Cluster | $258.53 $255.56 | ▼ −1.15% | ▼ −0.82% | $262.05 (+1.36%) |
Aug 26, 2026 8w ago | Insider Cluster | $267.75 $249.54 | ▲ +6.80% | ▲ +6.29% | $262.05 (+2.13%) |
Aug 26, 2026 8w ago | Insider Cluster | $267.75 $249.54 | ▲ +6.80% | ▲ +6.29% | $262.05 (+2.13%) |
Aug 10, 2026 11w ago | Insider Cluster | $259.45 $269.08 | ▲ +3.71% | ▲ +4.77% | $262.05 (+1.00%) |
Aug 7, 2026 11w ago | Insider Cluster | $259.93 $259.06 | ▼ −0.33% | ▲ +0.58% | $262.05 (+0.82%) |
US Market Status
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