4//SEC Filing
HAMMONS KEVIN J 4
Accession 0001209191-23-014674
CIK 0001108109other
Filed
Mar 1, 7:00 PM ET
Accepted
Mar 2, 4:28 PM ET
Size
28.7 KB
Accession
0001209191-23-014674
Insider Transaction Report
Form 4
HAMMONS KEVIN J
VP/Chief Accounting Officer
Transactions
- Exercise/Conversion
Common Stock
2023-03-01+95,000→ 406,357 total - Tax Payment
Common Stock
2023-03-01$6.15/sh−63,290$389,234→ 433,067 total - Award
Common Stock
2023-03-01+90,000→ 496,357 total - Exercise/Conversion
Performance Based Restricted
2023-03-01−95,000→ 0 totalExercise: $0.00→ Common Stock (95,000 underlying) - Award
Performance Based Restricted
2023-03-01+180,000→ 180,000 totalExercise: $0.00→ Common Stock (180,000 underlying) - Award
Stock Options (Right to Buy)
2023-03-01+90,000→ 90,000 totalExercise: $6.15From: 2024-03-01Exp: 2033-02-28→ Common Stock (90,000 underlying)
Holdings
- 150,000
Performance Based Restricted
Exercise: $0.00→ Common Stock (150,000 underlying) - 47,500
Stock Options (Right to Buy)
Exercise: $4.93From: 2021-03-01Exp: 2030-02-28→ Common Stock (47,500 underlying) - 75,000
Stock Options (Right to Buy)
Exercise: $10.18From: 2023-03-01Exp: 2032-02-29→ Common Stock (75,000 underlying) - 150,000
Performance Based Restricted
Exercise: $0.00→ Common Stock (150,000 underlying) - 18,000
Stock Options (Right to Buy)
Exercise: $4.99From: 2020-03-01Exp: 2029-02-28→ Common Stock (18,000 underlying) - 75,000
Stock Options (Right to Buy)
Exercise: $8.81From: 2022-03-01Exp: 2031-02-28→ Common Stock (75,000 underlying)
Footnotes (6)
- [F1]The vesting of these performance-based restricted shares was based on the attainment of certain performance objectives between 1/1/2020 and 12/31/2022 (the "2020-2022 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2020-2022 Performance Period, the award vested on March 1, 2023 at 100% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2020.
- [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 attainment of the following pre-determined performance objectives between 1/1/2023 and 12/31/2025 (the "2023-2025 Performance Period"), as follows: 40% to a Cumulative Consolidated Adjusted EBITDA Growth target; 40% to a Cumulative Same-Store Net Revenue Growth target; and 20% to a Total Shareholder Return ("TSR") Percentile Rank 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 2023-2025 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 attainment of certain performance objectives between 1/1/2021 and 12/31/2023 (the "2021-2023 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 2021-2023 Performance Period.
- [F6]The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2022 and 12/31/2024 (the "2022-2024 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 2022-2024 Performance Period.
Issuer
COMMUNITY HEALTH SYSTEMS INC
CIK 0001108109
Entity typeother
Related Parties
1- filerCIK 0001542264
Filing Metadata
- Form type
- 4
- Filed
- Mar 1, 7:00 PM ET
- Accepted
- Mar 2, 4:28 PM ET
- Size
- 28.7 KB