Pitt Justin D 4

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.