COVA CHARLES J 4
4 · COMMUNITY HEALTH SYSTEMS INC · Filed Mar 1, 2024
Insider Transaction Report
Form 4
COVA CHARLES J
Regional President
Transactions
- Award
Common Stock
2024-03-01+25,000→ 58,701 total - Award
Performance Based Restricted
2024-03-01+50,000→ 50,000 totalExercise: $0.00→ Common Stock (50,000 underlying) - Award
Stock Options (Right to Buy)
2024-03-01+25,000→ 50,000 totalExercise: $2.87From: 2025-03-01Exp: 2034-02-28→ Common Stock (25,000 underlying)
Footnotes (3)
- [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 1/1/2024 and 12/31/2026 (the "2024-2026 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 2024-2026 Performance Period.
- [F3]Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.