AUSTEN D. MASON - 01 Mar 2023 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role: Regional President
Signature: Christopher G. Cobb, Attorney in Fact for Austen D. Mason
Issuer symbol: CYH
Transactions as of: 01 Mar 2023
Net transactions value: $0
Form type: 4
Filing time: 02 Mar 2023, 15:29:55 UTC
Previous filing: 02 Mar 2022
Next filing: 01 Mar 2024
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	+60%	$0.000000	67,000	01 Mar 2023	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 2023	Common Stock	50,000	$0.000000	Direct	F2
transaction	CYH	Stock Options (Right to Buy)	Award	$0	+25,000		$0.000000	25,000	01 Mar 2023	Common Stock	25,000	$6.15	Direct	F3
holding	CYH	Performance Based Restricted						15,000	01 Mar 2023	Common Stock	15,000	$0.000000	Direct	F4
holding	CYH	Performance Based Restricted						50,000	01 Mar 2023	Common Stock	50,000	$0.000000	Direct	F5
holding	CYH	Stock Options (Right to Buy)						15,000	01 Mar 2023	Common Stock	15,000	$8.81	Direct	F3
holding	CYH	Stock Options (Right to Buy)						25,000	01 Mar 2023	Common Stock	25,000	$10.18	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 1/1/2023 and 12/31/2025 (the "2023-2025 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 2023-2025 Performance Period.
F3	Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.
F4	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.
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.