Ownership Submission
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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Fraser Cathy
  2. Issuer Name and Ticker or Trading Symbol
TENET HEALTHCARE CORP [THC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice President
(Last)
(First)
(Middle)
1445 ROSS AVENUE, SUITE 1400
3. Date of Earliest Transaction (Month/Day/Year)
02/25/2011
(Street)

DALLAS, TX 75202
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 (1) 02/25/2011   A   9,300 A $ 0 68,104 D  
Common Stock 02/25/2011   F   2,599 D $ 7.07 (2) 65,505 D  
Common Stock (3) 02/25/2011   A   9,300 A $ 0 74,805 D  
Common Stock 02/25/2011   F   2,598 D $ 7.07 (2) 72,207 D  

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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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
2010 February Restricted Units (3) 02/25/2011   D     9,300   (3)   (3) Common Stock 9,300 $ 0 18,602 D  
2010 February Performance-Based Restricted Units (1) 02/25/2011   A   18,602     (1)   (1) Common Stock 18,602 $ 0 18,602 D  
2010 February Performance Based Stock Option (Right to Buy) $ 5.03 (4) 02/25/2011   A   16,164     (4) 02/25/2020 Common Stock 16,164 $ 0 16,164 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Fraser Cathy
1445 ROSS AVENUE
SUITE 1400
DALLAS, TX 75202
      Senior Vice President  

Signatures

 /s/ Kristina A. Mack, Attorney-in-Fact for Cathy Fraser   03/01/2011
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) (CF1) As previously reported, on February 25, 2010, the reporting person received a grant of 27,902 performance restricted units that were subject to the issuer's attainment of a specified one-year performance metric for the year then-ending December 31, 2010. The performance metric was met; therefore, these restricted units vest ratably on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 25, 2011, resulting in the vesting and settlement of 9,300 shares of common stock, as shown in Table I. The remaining 18,602 performance restricted units, which will vest in equal amounts on February 25, 2012 and 2013, are shown in Table II. Restricted units are settled in shares of the issuer's common stock upon vesting.
(2) Shares withheld for payment of taxes upon vesting of restricted units in accordance with Rule 16b-3.
(3) (CF3) As previously reported, on February 25, 2010, the reporting person received a grant of 27,902 restricted units that vest ratably on each of the first, second and third anniversaries of the date of grant. The first anniversary occurred on February 25, 2011, resulting in the vesting and settlement of 9,300 shares of common stock as shown in Table I and Table II. The remaining 18,602 restricted units, as shown in Table II, will vest in equal amounts on February 25, 2012 and 2013. Restricted units are settled in shares of the issuer's common stock upon vesting.
(4) (CF4) As previously reported, on February 25, 2010, the reporting person received a grant of 16,164 performance stock options that were subject to the issuer's attainment of a specified one-year performance metric for the year then-ending December 31, 2010. The performance metric was met; therefore, these options vest ratably on each of the first, second and third anniversaries of the date of grant. The performance stock options were granted with an exercise price of $5.03, the closing price of the issuer's common stock on the date of grant.

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