Tim Hingtgen - Mar 1, 2024 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Signature
Christopher G. Cobb, Attorney in Fact for Tim Hingtgen
Stock symbol
CYH
Transactions as of
Mar 1, 2024
Transactions value $
-$331,278
Form type
4
Date filed
3/1/2024, 07:59 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 +160K +16.17% $0.00 1.15M Mar 1, 2024 Direct F1
transaction CYH Common Stock Award $0 +200K +17.4% $0.00 1.35M Mar 1, 2024 Direct F2
transaction CYH Common Stock Tax liability -$331K -115K -8.55% $2.87 1.23M 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 -160K -80% $0.00 40K Mar 1, 2024 Common Stock 160K $0.00 Direct F1
transaction CYH Performance Based Restricted Disposed to Issuer $0 -40K -100% $0.00* 0 Mar 1, 2024 Common Stock 40K $0.00 Direct F1
transaction CYH Performance Based Restricted Award $0 +400K $0.00 400K Mar 1, 2024 Common Stock 400K $0.00 Direct F3
transaction CYH Stock Options (Right to Buy) Award $0 +200K $0.00 200K Mar 1, 2024 Common Stock 200K $2.87 Direct F4
holding CYH Performance Based Restricted 200K Mar 1, 2024 Common Stock 200K $0.00 Direct F5
holding CYH Performance Based Restricted 400K Mar 1, 2024 Common Stock 400K $0.00 Direct F6
holding CYH Stock Options (Right to Buy) 56.3K Mar 1, 2024 Common Stock 56.3K $4.99 Direct
holding CYH Stock Options (Right to Buy) 200K Mar 1, 2024 Common Stock 200K $4.93 Direct
holding CYH Stock Options (Right to Buy) 750K Mar 1, 2024 Common Stock 75K $4.93 Direct
holding CYH Stock Options (Right to Buy) 100K Mar 1, 2024 Common Stock 100K $8.81 Direct
holding CYH Stock Options (Right to Buy) 100K Mar 1, 2024 Common Stock 100K $10.18 Direct F4
holding CYH Stock Options (Right to Buy) 200K Mar 1, 2024 Common Stock 200K $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 200,000 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 80% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2021 (160,000), and the remaining 20% of the target number has been forfeited (40,000).
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: 40% to a Cumulative Consolidated Adjusted EBITDA Growth target; 40% to a Cumulative Same-Store Net Revenue Growth target; and 20% to a Total Shareholder Return ("TSR") Percentile Rank 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.