Filing Details

Accession Number:
0001209191-13-012405
Form Type:
4
Zero Holdings:
No
Publication Time:
2013-02-28 16:29:22
Reporting Period:
2013-02-26
Filing Date:
2013-02-28
Accepted Time:
2013-02-28 16:29:22
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1108109 Community Health Systems Inc CYH Services-General Medical & Surgical Hospitals, Nec (8062) 133893191
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1217265 S William Hussey 4000 Meridian Boulevard
Franklin TN 37067
Division President No Yes No No
Reported Non-Derivative Transactions
Sec. Name Acquisiton - Disposition Date Amount Price Remaning Holdings Equity Swap Involved Form Type Code Nature of Ownership Explanation
Common Stock Acquisiton 2013-02-26 60,000 $27.29 159,590 No 4 M Direct
Common Stock Acquisiton 2013-02-26 30,000 $32.37 189,590 No 4 M Direct
Common Stock Acquisiton 2013-02-26 10,000 $18.18 199,590 No 4 M Direct
Common Stock Disposition 2013-02-26 115,607 $39.98 83,983 No 4 S Direct
Common Stock Acquisiton 2013-02-27 20,167 $0.00 104,150 No 4 M Direct
Common Stock Disposition 2013-02-27 2,821 $41.71 101,329 No 4 F Direct
Common Stock Disposition 2013-02-28 3,900 $41.57 97,429 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M Direct
No 4 M Direct
No 4 M Direct
No 4 S Direct
No 4 M Direct
No 4 F Direct
No 4 S Direct
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Stock Options (Right to Buy) Disposition 2013-02-26 60,000 $27.29 60,000 $27.29
Common Stock Stock Options (Right to Buy) Disposition 2013-02-26 30,000 $32.37 30,000 $32.37
Common Stock Stock Options (Right to Buy) Disposition 2013-02-26 10,000 $18.18 10,000 $18.18
Common Stock Performance Based Restricted Disposition 2013-02-27 20,167 $0.00 20,167 $0.00
Common Stock Performance Based Restricted Acquisiton 2013-02-27 25,000 $0.00 25,000 $0.00
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 2005-02-24 2014-02-23 No 4 M Direct
0 2006-02-28 2013-02-27 No 4 M Direct
0 2010-02-25 2019-02-24 No 4 M Direct
0 2013-02-16 2022-02-15 No 4 M Direct
25,000 2014-02-27 2023-02-26 No 4 A Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 6,000 Indirect William S. Hussey Trustee, U/A dated 5/8/1998, by William S. Hussey as Grantor
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Stock Options (Right to Buy) $38.30 2007-03-01 2016-02-29 20,000 20,000 Direct
Common Stock Stock Options (Right to Buy) $37.21 2008-02-28 2017-02-27 10,000 10,000 Direct
Common Stock Stock Options (Right to Buy) $40.41 2008-07-25 2017-07-24 100,000 100,000 Direct
Common Stock Stock Options (Right to Buy) $33.90 2011-02-24 2020-02-23 10,000 10,000 Direct
Common Stock Stock Options (Right to Buy) $37.96 2012-02-23 2021-02-22 10,000 10,000 Direct
Common Stock Stock Options (Right to Buy) $21.07 2013-02-16 2022-02-15 8,000 8,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2016-02-29 20,000 20,000 Direct
2017-02-27 10,000 10,000 Direct
2017-07-24 100,000 100,000 Direct
2020-02-23 10,000 10,000 Direct
2021-02-22 10,000 10,000 Direct
2022-02-15 8,000 8,000 Direct
Footnotes
  1. The shares were sold in a series of transactions at a weighted average sale price of $39.9774 per share.
  2. Financial information necessary to determine if performance criteria had been satisfied was not publicly available on February 16, 2013, the first anniversary of the date of the award. At a meeting of the Compensation Committee ("Committee") held February 26, 2013, and confirmed by the Board of Directors ("Board") on February 27, 2013, the Committee and the Board determined that the performance conditions had been satisfied. The shares will now be reported as owned shares in Table I, and restrictions on the remaining shares will lapse on the 2nd and 3rd anniversary of the original date of the award, all in accordance with the award agreement.
  3. The shares were sold in a series of transactions at a weighted average price of $41.5686 per share.
  4. 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.