Wayne T. Smith - Feb 23, 2024 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role
Director
Signature
Christopher G. Cobb, Attorney in Fact for Wayne T. Smith
Stock symbol
CYH
Transactions as of
Feb 23, 2024
Transactions value $
$0
Form type
4
Date filed
2/23/2024, 04:19 PM
Previous filing
Jan 2, 2024
Next filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYH Common Stock Gift $0 -24.8K -0.49% $0.00 5.08M Feb 23, 2024 Direct F1
holding CYH Common Stock 1.61M Feb 23, 2024 by The Modified 2009 WTS Irrev Trust Dated 12/16/22
holding CYH Common Stock 482K Feb 23, 2024 WAC LLC

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding CYH Performance Based Restricted 180K Feb 23, 2024 Common Stock 180K $0.00 Direct F2
holding CYH Performance Based Restricted 180K Feb 23, 2024 Common Stock 180K $0.00 Direct F3
holding CYH Restricted Stock Units 29.3K Feb 23, 2024 Common Stock 29.3K $0.00 Direct F4
holding CYH Restricted Stock Units 43.1K Feb 23, 2024 Common Stock 43.1K $0.00 Direct F5
holding CYH Stock Options (Right to Buy) 78.8K Feb 23, 2024 Common Stock 78.8K $4.99 Direct
holding CYH Stock Options (Right to Buy) 113K Feb 23, 2024 Common Stock 113K $4.93 Direct
holding CYH Stock Options (Right to Buy) 90K Feb 23, 2024 Common Stock 90K $8.81 Direct F6
holding CYH Stock Options (Right to Buy) 90K Feb 23, 2024 Common Stock 90K $10.18 Direct F6
holding CYH Stock Units (SU) 35.6K Feb 23, 2024 Common Stock 35.6K $0.00 Direct F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 These shares were gifted to individuals who do not share the Reporting Person's household.
F2 The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2021 and 12/31/2023 (the "2021-2023 Performance Period"). The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each applicable performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2021-2023 Performance Period.
F3 The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2022 and 12/31/2024 (the "2022-2024 Performance Period"). The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each applicable performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2022-2024 Performance Period.
F4 The restricted stock units vest in 1/3 increments on the first, second and third anniversary of the date of grant. Based on the Reporting Person's prior deferral election pursuant to the terms of the award agreement, the Reporting Person will be issued that number of shares of common stock of the Company upon the Reporting Person's cessation as a director or upon a date specified by the Reporting Person.
F5 The restricted stock units, which were granted as payment of the Reporting Person's additional annual stipend for serving as the Chair of the Board, vest in 1/3 increments on the first, second and third anniversary of the date of grant. Based on the Reporting Person's prior deferral election pursuant to the terms of the award agreement, the Reporting Person will be issued that number of shares of common stock of the Company upon the Reporting Person's cessation as a director or upon a date specified by the Reporting Person.
F6 Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.
F7 The Stock Units were accrued under the Company's Directors' Fees Deferral Plan in lieu of a portion of the Reporting Person's Director Fees and are settled 100% in the Company's common stock on the last business day of the calendar quarter following cessation as a director or upon a date specified by the Reporting Person.