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COMMUNITY HEALTH SYSTEMS INC·4

Mar 3, 4:46 PM ET

Pitt Justin D 4

4 · COMMUNITY HEALTH SYSTEMS INC · Filed Mar 3, 2026

Research Summary

AI-generated summary of this filing

Updated

Community Health Systems (CYH) Justin Pitt Receives Awards & Exercises

What Happened

  • Justin D. Pitt, President and Chief Legal & Administrative Officer of Community Health Systems (CYH), had equity awards/derivative units convert/vest on 2026-03-01. The filing shows he acquired a total of 190,000 shares through awards and exercise/conversion (multiple A and M entries at $0.00). To satisfy tax withholding, 24,922 shares were disposed at $3.46 each, generating $86,230. One set of performance-based restricted shares (for the 2023–2025 performance period) vested at 100% on 3/1/2026.

Key Details

  • Transaction date: 2026-03-01; Form 4 filed 2026-03-03 (timely).
  • Activity types: A = award/grant; M = exercise/conversion of derivative; F = shares surrendered/sold to cover taxes.
  • Shares acquired: 30,000 (conversion/exercise) + 40,000 + 80,000 (derivative awards) + 40,000 = 190,000 total reported acquired.
  • Shares disposed (tax withholding): 24,922 at $3.46 each = $86,230.
  • Shares owned after transaction: not disclosed in the excerpt provided.
  • Notable footnotes:
    • F1: A 2023–2025 performance-based award vested at 100% on 3/1/2026.
    • Other grants are time-vesting and/or performance-based, with vesting schedules and performance periods spanning 2024–2028 (see footnotes F2–F6). Some awards vest in thirds over three years; others vest on the third anniversary subject to performance (0%–200% payout ranges).

Context

  • These transactions are primarily compensation-related (awards and vesting of performance/time-based restricted stock) rather than open-market purchases or discretionary sales. The only shares sold/surrendered were to cover tax obligations—common practice on vesting. For derivatives: “M” entries reflect exercise/conversion of derivative awards into shares.

Insider Transaction Report

Form 4
Period: 2026-03-01
COMMUNITY HEALTH SYSTEMS INCCYH
Pitt Justin D
Pres,Chief Legal&Admin Officer
Transactions
  • Exercise/Conversion

    Common Stock

    [F1]
    2026-03-01+30,000→ 272,672 total
  • Award

    Common Stock

    [F2]
    2026-03-01+40,000→ 312,672 total
  • Tax Payment

    Common Stock

    2026-03-01$3.46/sh−24,922$86,230→ 287,750 total
  • Exercise/Conversion

    Performance Based Restricted

    [F1]
    2026-03-01−30,000→ 0 total
    Exercise: $0.00→ Common Stock (30,000 underlying)
  • Award

    Performance Based Restricted

    [F3]
    2026-03-01+80,000→ 80,000 total
    Exercise: $0.00→ Common Stock (80,000 underlying)
  • Award

    Stock Options (Right to Buy)

    [F4]
    2026-03-01+40,000→ 40,000 total
    Exercise: $3.46From: 2027-03-01Exp: 2036-02-29→ Common Stock (40,000 underlying)
Holdings

  • Performance Based Restricted

    [F5]
    Exercise: $0.00→ Common Stock (30,000 underlying)
    30,000

  • Performanced Based Restricted

    [F6]
    Exercise: $0.00→ Common Stock (80,000 underlying)
    80,000

  • Stock Options (Right to Buy)

    Exercise: $4.99From: 2020-03-01Exp: 2029-02-28→ Common Stock (5,000 underlying)
    5,000

  • Stock Options (Right to Buy)

    Exercise: $4.93From: 2021-03-01Exp: 2030-02-28→ Common Stock (20,000 underlying)
    20,000

  • Stock Options (Right to Buy)

    Exercise: $8.81From: 2022-03-01Exp: 2031-02-28→ Common Stock (20,000 underlying)
    20,000

  • Stock Options (Right to Buy)

    Exercise: $10.18From: 2023-03-01Exp: 2032-02-29→ Common Stock (30,000 underlying)
    30,000

  • Stock Options (Right to Buy)

    Exercise: $6.15From: 2024-03-01Exp: 2033-02-28→ Common Stock (30,000 underlying)
    30,000

  • Stock Options (Right to Buy)

    [F4]
    Exercise: $2.87From: 2025-03-01Exp: 2034-02-28→ Common Stock (30,000 underlying)
    30,000

  • Stock Options (Right to Buy)

    [F4]
    Exercise: $3.01From: 2026-03-01Exp: 2035-02-28→ Common Stock (40,000 underlying)
    40,000
Footnotes (6)
  • [F1]The vesting of these performance-based restricted shares was based on the Issuer's attainment of certain performance objectives between 1/1/2023 and 12/31/2025 (the "2023-2025 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2023-2025 Performance Period, the award vested on 3/1/2026 at 100% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2023.
  • [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 Issuer's attainment of the following predetermined performance objectives between 1/1/2026 and 12/31/2028 (the "2026-2028 Performance Period"), as follows: 50% to a Cumulative Same-Store 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 2026-2028 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 Issuer's attainment of certain performance objectives between 1/1/2024 and 12/31/2026 (the "2024-2026 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 2024-2026 Performance Period.
  • [F6]The vesting of these performance-based restricted shares is subject to the Issuer's attainment of certain performance objectives between 1/1/2025 and 12/31/2027 (the "2025-2027 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 2025-2027 Performance Period.
Signature
Christopher G. Cobb, Attorney in Fact for Justin D. Pitt|2026-03-03

Documents

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