COMMUNITY HEALTH SYSTEMS INC 4
4 · COMMUNITY HEALTH SYSTEMS INC · Filed Feb 18, 2015
Insider Transaction Report
Form 4
MILLER DAVID LEWIS
Division President - Group Ops
Transactions
- Tax Payment
Common Stock
2015-02-16$48.14/sh−1,855$89,300→ 288,777 total
Holdings
- 10,000
Stock Options (Right to Buy)
Exercise: $37.96From: 2012-02-23Exp: 2021-02-22→ Common Stock (10,000 underlying) - 8,000
Stock Options (Right to Buy)
Exercise: $21.07From: 2013-02-16Exp: 2022-02-15→ Common Stock (8,000 underlying) - 50,000
Performance Based Restricted
Exercise: $0.00From: 2015-03-01Exp: 2024-02-29→ Common Stock (50,000 underlying) - 100,000
Performance Based Restricted
Exercise: $0.00From: 2015-03-01Exp: 2024-02-29→ Common Stock (100,000 underlying)
Footnotes (2)
- [F1]Each performance based restricted share represents a contingent right to receive one share of CYH common stock. There are two elements to the lapsing of the restriction; first, the Company must achieve specified targeted amount of earnings per share from continuing operations, or net revenue from continuing operations, and if the performance objective is met, the vesting restrictions will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. If the objectives are not met, the shares will be forfeited.
- [F2]Each performance based restricted share represents a contingent right to receive one share of CYH common stock. The lapsing of the restrictions is dependent on the Company meeting certain cost savings ("synergies") from the Health Management Associates, Inc. merger transaction. The performance target may be met in part in the first year or in whole or in part over the first two years. There is also a time vesting element to the maximum targets of the award. If the objectives are not met, the shares will be forfeited.