0001209191-13-012411.txt : 20130228 0001209191-13-012411.hdr.sgml : 20130228 20130228163419 ACCESSION NUMBER: 0001209191-13-012411 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20130227 FILED AS OF DATE: 20130228 DATE AS OF CHANGE: 20130228 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: PORTACCI MICHAEL T CENTRAL INDEX KEY: 0001217259 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15925 FILM NUMBER: 13652651 MAIL ADDRESS: STREET 1: 4000 MERIDIAN BOULEVARD CITY: FRANKLIN STATE: TN ZIP: 37067 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: COMMUNITY HEALTH SYSTEMS INC CENTRAL INDEX KEY: 0001108109 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-GENERAL MEDICAL & SURGICAL HOSPITALS, NEC [8062] IRS NUMBER: 133893191 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 4000 MERIDIAN BOULEVARD CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 615-465-7000 MAIL ADDRESS: STREET 1: 4000 MERIDIAN BOULEVARD CITY: FRANKLIN STATE: TN ZIP: 37067 FORMER COMPANY: FORMER CONFORMED NAME: COMMUNITY HEALTH SYSTEMS INC/ DATE OF NAME CHANGE: 20000229 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2013-02-27 0 0001108109 COMMUNITY HEALTH SYSTEMS INC CYH 0001217259 PORTACCI MICHAEL T 4000 MERIDIAN BOULEVARD FRANKLIN TN 37067 0 1 0 0 Division President Common Stock 2013-02-27 4 M 0 20167 0.00 A 133803 D Common Stock 2013-02-27 4 F 0 2821 41.71 D 130982 D Common Stock 2013-02-27 4 M 0 30000 32.37 A 160982 D Common Stock 2013-02-27 4 S 0 78440 41.3011 D 82542 D Performance Based Restricted 0.00 2013-02-27 4 M 0 20167 0.00 D 2013-02-16 2022-02-15 Common Stock 20167 0 D Stock Options (Right to Buy) 32.37 2013-02-27 4 M 0 30000 0.00 D 2006-02-28 2013-02-27 Common Stock 30000 0 D Performance Based Restricted 0.00 2013-02-27 4 A 0 25000 0.00 A 2014-02-27 2023-02-26 Common Stock 25000 25000 D Stock Options (Right to Buy) 38.30 2007-03-01 2016-02-29 Common Stock 20000 20000 D Stock Options (Right to Buy) 37.21 2008-02-28 2017-02-27 Common Stock 10000 10000 D Stock Options (Right to Buy) 40.41 2008-07-25 2017-07-24 Common Stock 100000 100000 D Stock Options (Right to Buy) 32.28 2009-02-27 2018-02-26 Common Stock 20000 20000 D Stock Options (Right to Buy) 33.90 2011-02-24 2020-02-23 Common Stock 10000 10000 D Stock Options (Right to Buy) 37.96 2012-02-23 2021-02-22 Common Stock 10000 10000 D Stock Options (Right to Buy) 21.07 2013-02-16 2022-02-15 Common Stock 8000 8000 D 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. The shares were sold in a series of transactions at a weighted average price of $41.3011 per share. 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. Christopher G. Cobb, Attorney in Fact for Michael T. Portacci 2013-02-28