Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Filing Details

Accession Number:
0001209191-14-054420
Form Type:
4
Zero Holdings:
No
Publication Time:
2014-08-26 16:11:42
Reporting Period:
2014-08-25
Filing Date:
2014-08-26
Accepted Time:
2014-08-26 16:11:42
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
1018660 T Wayne Smith 4000 Meridian Boulevard
Franklin TN 37067
Chairman & Ceo Yes 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 2014-08-25 100,000 $37.21 871,975 No 4 M Direct
Common Stock Disposition 2014-08-25 83,796 $51.67 788,179 No 4 S Direct
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 M 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 2014-08-25 100,000 $0.00 0 $37.21
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
0 2008-02-28 2015-02-27 No 4 M Direct
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 169,388 Indirect by 2009 WTS Irrevocable Trust Dated 2/27/09
Common Stock 481,721 Indirect WAC LLC
Common Stock 69,830 Indirect 2012 GRAT
Reported Derivative Holdings
Sec. Name Sec. Type Price Date Expiration Date Amount Remaning Holdings Nature of Ownership
Common Stock Stock Options (Right to Buy) $40.41 2008-07-25 2015-07-24 500,000 500,000 Direct
Common Stock Stock Options (Right to Buy) $32.28 2009-02-27 2018-02-26 200,000 200,000 Direct
Common Stock Stock Options (Right to Buy) $18.18 2010-02-25 2019-02-24 50,000 50,000 Direct
Common Stock Stock Options (Right to Buy) $33.90 2011-02-24 2020-02-23 50,000 50,000 Direct
Common Stock Stock Options (Right to Buy) $37.96 2012-02-23 2021-02-22 50,000 50,000 Direct
Common Stock Stock Options (Right to Buy) $21.07 2013-02-16 2022-02-15 40,000 40,000 Direct
Common Stock Performance Based Restricted $0.00 2015-03-01 2024-02-29 150,000 150,000 Direct
Common Stock Performance Based Restricted $0.00 2015-03-01 2024-02-29 300,000 300,000 Direct
Expiration Date Amount Remaning Holdings Nature of Ownership
2015-07-24 500,000 500,000 Direct
2018-02-26 200,000 200,000 Direct
2019-02-24 50,000 50,000 Direct
2020-02-23 50,000 50,000 Direct
2021-02-22 50,000 50,000 Direct
2022-02-15 40,000 40,000 Direct
2024-02-29 150,000 150,000 Direct
2024-02-29 300,000 300,000 Direct
Footnotes
  1. These shares were sold in a series of transactions at an average sales price of $51.6742 per share.
  2. 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.
  3. 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 performance target may be met in part in the first year or in whole or in part over the first two years. 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.