Jason K. Johnson - Mar 1, 2024 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role: SVP & CAO
Signature: Christopher G. Cobb, Attorney in Fact for Jason K. Johnson
Stock symbol: CYH
Transactions as of: Mar 1, 2024
Transactions value $: -$45,380
Form type: 4
Date filed: 3/1/2024, 07:56 PM
Previous filing: Mar 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CYH	Common Stock	Options Exercise	$0	+18K	+15.36%	$0.00	135K	Mar 1, 2024	Direct	F1
transaction	CYH	Common Stock	Award	$0	+30K	+22.2%	$0.00	165K	Mar 1, 2024	Direct	F2
transaction	CYH	Common Stock	Tax liability	-$45.4K	-15.8K	-9.57%	$2.87	149K	Mar 1, 2024	Direct

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	Options Exercise	$0	-18K	-100%	$0.00^*	0	Mar 1, 2024	Common Stock	18K	$0.00	Direct	F1
transaction	CYH	Performance Based Restricted	Award	$0	+30K		$0.00	30K	Mar 1, 2024	Common Stock	30K	$0.00	Direct	F3
transaction	CYH	Stock Options (Right to Buy)	Award	$0	+30K		$0.00	30K	Mar 1, 2024	Common Stock	30K	$2.87	Direct	F4
holding	CYH	Performance Based Restricted						25K	Mar 1, 2024	Common Stock	25K	$0.00	Direct	F5
holding	CYH	Performance Based Restricted						30K	Mar 1, 2024	Common Stock	30K	$0.00	Direct	F6
holding	CYH	Stock Options (Right to Buy)						15K	Mar 1, 2024	Common Stock	15K	$4.93	Direct
holding	CYH	Stock Options (Right to Buy)						18K	Mar 1, 2024	Common Stock	18K	$8.81	Direct
holding	CYH	Stock Options (Right to Buy)						25K	Mar 1, 2024	Common Stock	25K	$10.18	Direct	F4
holding	CYH	Stock Options (Right to Buy)						30K	Mar 1, 2024	Common Stock	30K	$6.15	Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The vesting of these performance-based restricted shares was based on the attainment of certain performance objectives between 1/1/2021 and 12/31/2023 (the "2021-2023 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2021-2023 Performance Period, the award vested on March 1, 2024 at 100% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2021.
F2	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.
F3	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.
F4	Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.
F5	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.
F6	The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2023 and 12/31/2025 (the "2023-2025 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 2023-2025 Performance Period.