SMITH WAYNE T 4
4 · COMMUNITY HEALTH SYSTEMS INC · Filed Mar 31, 2023
Insider Transaction Report
Form 4
SMITH WAYNE T
Director
Transactions
- Award
Stock Units (SU)
2023-03-31$4.90/sh+6,632.653$32,500→ 6,632.653 totalExercise: $0.00→ Common Stock (6,632.653 underlying)
Holdings
- 90,000
Stock Options (Right to Buy)
Exercise: $8.81From: 2022-03-01Exp: 2031-02-28→ Common Stock (90,000 underlying) - 90,000
Stock Options (Right to Buy)
Exercise: $10.18From: 2023-03-01Exp: 2032-02-29→ Common Stock (90,000 underlying) - 4,107,901
Common Stock
- 1,606,842(indirect: By Trust)
Common Stock
- 481,721(indirect: By LLC)
Common Stock
- 180,000
Performance Based Restricted
Exercise: $0.00→ Common Stock (180,000 underlying) - 29,268
Restricted Stock Units
Exercise: $0.00→ Common Stock (29,268 underlying) - 78,750
Stock Options (Right to Buy)
Exercise: $4.99From: 2020-03-01Exp: 2029-02-28→ Common Stock (78,750 underlying) - 112,500
Stock Options (Right to Buy)
Exercise: $4.93From: 2021-03-01Exp: 2030-02-28→ Common Stock (112,500 underlying) - 180,000
Performance Based Restricted
Exercise: $0.00→ Common Stock (180,000 underlying) - 43,089
Restricted Stock Units
Exercise: $0.00→ Common Stock (43,089 underlying)
Footnotes (6)
- [F1]The Stock Units were accrued under the Company's Directors' Fees Deferral Plan in lieu of a portion of the Reporting Person's Director Fees and are settled 100% in the Company's common stock on the last business day of the calendar quarter following cessation as a director or upon a date specified by the Reporting Person.
- [F2]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.
- [F3]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.
- [F4]The restricted stock units vest in 1/3 increments on the first, second and third anniversary of the date of grant. Based on the Reporting Person's prior deferral election pursuant to the terms of the award agreement, the Reporting Person will be issued that number of shares of common stock of the Company upon the Reporting Person's cessation as a director or upon a date specified by the Reporting Person.
- [F5]The restricted stock units, which were granted as payment of the Reporting Person's additional annual stipend for serving as the Chair of the Board, vest in 1/3 increments on the first, second and third anniversary of the date of grant. Based on the Reporting Person's prior deferral election pursuant to the terms of the award agreement, the Reporting Person will be issued that number of shares of common stock of the Company upon the Reporting Person's cessation as a director or upon a date specified by the Reporting Person.
- [F6]Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.