4//SEC Filing
COMMUNITY HEALTH SYSTEMS INC 4
Accession 0001209191-16-104462
$CYHCIK 0001108109operating
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 4:22 PM ET
Size
18.5 KB
Accession
0001209191-16-104462
Insider Transaction Report
Form 4
Miller Thomas Daniel
Division President - Group Ops
Transactions
- Tax Payment
Common Stock
2016-03-01$15.43/sh−6,383$98,490→ 112,107 total - Exercise/Conversion
Common Stock
2016-03-01+35,000→ 111,823 total - Exercise/Conversion
Common Stock
2016-03-01+6,667→ 118,490 total - Exercise/Conversion
Performance Based Restricted
2016-03-01−35,000→ 0 totalExercise: $0.00From: 2016-03-01Exp: 2025-02-28→ Common Stock (35,000 underlying) - Exercise/Conversion
Performance Based Restricted
2016-03-01−6,667→ 0 totalExercise: $0.00→ Common Stock (6,667 underlying) - Award
Performance Based Restricted
2016-03-01+35,000→ 35,000 totalExercise: $0.00From: 2017-03-01Exp: 2026-02-28→ Common Stock (35,000 underlying)
Holdings
- 8,000
Stock Options (Right to Buy)
Exercise: $21.07From: 2013-02-16Exp: 2022-02-15→ Common Stock (8,000 underlying) - 10,000
Stock Options (Right to Buy)
Exercise: $37.96From: 2012-02-23Exp: 2021-02-22→ Common Stock (10,000 underlying)
Footnotes (3)
- [F1]The performance objectives governing these shares of Performance Based Restricted Stock have been met, and, accordingly, these shares will now be reported in Table 1 as directly owned shares of Restricted Stock. The time-vesting restrictions lapse in 1/3 increments on the first, second and third anniversary of the date of grant.
- [F2]Pursuant to the terms governing the award, the Company has achieved the cost savings ("synergies") from the Health Management Associates, Inc. ("HMA") merger transaction that were required to be achieved during the first two years following the HMA merger transaction, and, accordingly, the performance-based restrictions on the remaining portion of the award have lapsed as of the second anniversary of the date of grant. All such shares will now be reported on Table 1 as directly owned shares of Restricted Stock. There is also a time-vesting element. The time-vesting restrictions lapse in equal installments on the second and third anniversary of the date of grant.
- [F3]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 adjusted EBITDA 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.
Documents
Issuer
COMMUNITY HEALTH SYSTEMS INC
CIK 0001108109
Entity typeoperating
IncorporatedDE
Related Parties
1- filerCIK 0001108109
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 4:22 PM ET
- Size
- 18.5 KB