COMMUNITY HEALTH SYSTEMS INC 4
4 · COMMUNITY HEALTH SYSTEMS INC · Filed Mar 1, 2016
Insider Transaction Report
Form 4
Bonick Martin
Division President
Transactions
- Tax Payment
Common Stock
2016-02-27$15.12/sh−560$8,467→ 28,265 total
Holdings
- 1,000
Stock Options (Right to Buy)
Exercise: $16.66From: 2012-12-14Exp: 2021-12-13→ Common Stock (1,000 underlying) - 6,667
Performance Based Restricted
Exercise: $0.00→ Common Stock (6,667 underlying) - 35,000
Performance Based Restricted
Exercise: $0.00From: 2016-03-01Exp: 2025-02-28→ Common Stock (70,000 underlying)
Footnotes (2)
- [F1]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 award was granted on 3/01/14. The performance target on the remaining portion of the award may be met in whole or in part in the second year following the grant. 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.
- [F2]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 performance-based 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 time-vesting restrictions will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. If the performance objectives are not met, the shares will be forfeited.