Charles J. Cova - 01 Mar 2024 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role
Regional President
Signature
Christopher G. Cobb, Attorney in Fact for Charles J. Cova
Issuer symbol
CYH
Transactions as of
01 Mar 2024
Net transactions value
$0
Form type
4
Filing time
01 Mar 2024, 19:54:29 UTC
Previous filing
02 Oct 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYH Common Stock Award $0 +25,000 +74% $0.000000 58,701 01 Mar 2024 Direct F1

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
transaction CYH Performance Based Restricted Award $0 +50,000 $0.000000 50,000 01 Mar 2024 Common Stock 50,000 $0.000000 Direct F2
transaction CYH Stock Options (Right to Buy) Award $0 +25,000 +100% $0.000000 50,000 01 Mar 2024 Common Stock 25,000 $2.87 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The time-vesting restrictions on this award of restricted stock will lapse in 1/3 increments on the first, second and third anniversary of the date of grant.
F2 The vesting of these performance-based restricted shares is allocated to the attainment of the following pre-determined performance objectives between 1/1/2024 and 12/31/2026 (the "2024-2026 Performance Period"), as follows: 50% to a Cumulative Consolidated Adjusted EBITDA Growth target; and 50% to a Cumulative Same-Store Net Revenue Growth target. 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 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 2024-2026 Performance Period.
F3 Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.