Lynn T. Simon - Mar 1, 2023 Form 4 Insider Report for COMMUNITY HEALTH SYSTEMS INC (CYH)

Role
President and CMO
Signature
Christopher G. Cobb, Attorney in Fact for Lynn T. Simon
Stock symbol
CYH
Transactions as of
Mar 1, 2023
Transactions value $
-$212,765
Form type
4
Date filed
3/2/2023, 03:33 PM
Previous filing
Nov 4, 2022
Next filing
Mar 1, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CYH Common Stock Options Exercise $0 +52.5K +14.92% $0.00 404K Mar 1, 2023 Direct F1
transaction CYH Common Stock Award $0 +40K +9.89% $0.00 444K Mar 1, 2023 Direct F2
transaction CYH Common Stock Tax liability -$213K -34.6K -7.78% $6.15 410K Mar 1, 2023 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 -52.5K -100% $0.00* 0 Mar 1, 2023 Common Stock 52.5K $0.00 Direct F1
transaction CYH Performance Based Restricted Award $0 +80K $0.00 80K Mar 1, 2023 Common Stock 80K $0.00 Direct F3
transaction CYH Stock Options (Right to Buy) Award $0 +40K $0.00 40K Mar 1, 2023 Common Stock 40K $6.15 Direct F4
holding CYH Performance Based Restricted 80K Mar 1, 2023 Common Stock 80K $0.00 Direct F5
holding CYH Performance Based Restricted 80K Mar 1, 2023 Common Stock 80K $0.00 Direct F6
holding CYH Stock Options (Right to Buy) 26.3K Mar 1, 2023 Common Stock 26.3K $4.99 Direct
holding CYH Stock Options (Right to Buy) 26.3K Mar 1, 2023 Common Stock 26.3K $4.93 Direct
holding CYH Stock Options (Right to Buy) 40K Mar 1, 2023 Common Stock 40K $8.81 Direct F4
holding CYH Stock Options (Right to Buy) 40K Mar 1, 2023 Common Stock 40K $10.18 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 1/1/2020 and 12/31/2022 (the "2020-2022 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2020-2022 Performance Period, the award vested on March 1, 2023 at 100% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2020.
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 1/1/2023 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.
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 1/1/2021 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.
F6 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.