Wayne T. Smith - Aug 1, 2022 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role
Executive Chairman, Director
Signature
Christopher G. Cobb, Attorney in Fact for Wayne T. Smith
Stock symbol
CYH
Transactions as of
Aug 1, 2022
Transactions value $
$2,952,000
Form type
4
Date filed
8/2/2022, 05:04 PM
Previous filing
Mar 2, 2022
Next filing
Dec 22, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYH Common Stock Purchase $600K +200K +6.54% $3.00 3.26M Aug 1, 2022 Direct
transaction CYH Common Stock Purchase $2.35M +800K +24.55% $2.94 4.06M Aug 2, 2022 Direct F1
holding CYH Common Stock 1.61M Aug 1, 2022 by 2009 WTS Irrevocable Trust Dated 2/27/09
holding CYH Common Stock 482K Aug 1, 2022 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 225K Aug 1, 2022 Common Stock 225K $0.00 Direct F2
holding CYH Performance Based Restricted 180K Aug 1, 2022 Common Stock 180K $0.00 Direct F3
holding CYH Performance Based Restricted 180K Aug 1, 2022 Common Stock 180K $0.00 Direct F4
holding CYH Stock Options (Right to Buy) 78.8K Aug 1, 2022 Common Stock 78.8K $4.99 Direct
holding CYH Stock Options (Right to Buy) 113K Aug 1, 2022 Common Stock 113K $4.93 Direct F5
holding CYH Stock Options (Right to Buy) 90K Aug 1, 2022 Common Stock 90K $8.81 Direct F5
holding CYH Stock Options (Right to Buy) 90K Aug 1, 2022 Common Stock 90K $10.18 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The price reported in Column 4 is a weighted average price of $2.94 per share. These shares were purchased in multiple transactions on 08/02/2022 at prices ranging from $2.90 to $3.00, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
F2 The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2020 and 12/31/2022 (the "2020-2022 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 2020-2022 Performance Period.
F3 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.
F4 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.
F5 Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.