David E. Nicely - May 11, 2021 Form 3 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role
Regional President
Signature
Christopher G. Cobb, Attorney in Fact for David E Nicely
Stock symbol
CYH
Transactions as of
May 11, 2021
Transactions value $
$0
Form type
3
Date filed
5/20/2021, 04:24 PM

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding CYH Common Stock 64.7K May 11, 2021 Direct
holding CYH Common Stock 3K May 11, 2021 By IRA

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 May 11, 2021 Common Stock 15K $0.00 Direct F1
holding CYH Performance Based Restricted May 11, 2021 Common Stock 15K $0.00 Direct F2
holding CYH Stock Options (Right to Buy) May 11, 2021 Common Stock 12K $4.99 Direct F3
holding CYH Stock Options (Right to Buy) May 11, 2021 Common Stock 15K $4.93 Direct F3
holding CYH Stock Options (Right to Buy) May 11, 2021 Common Stock 15K $8.81 Direct F3
* 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 is allocated to the attainment of the following pre-determined performance objectives between 1/1/2020 and 12/31/2022 (the "2020-2022 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 (3/1/2020), 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 2020-2022 Performance Period.
F2 The vesting of these performance-based restricted shares is allocated to the attainment of the following pre-determined performance objectives between 1/1/2021 and 12/31/2023 (the "2021-2023 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 (3/1/2021), 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 Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.