0001209191-15-020479.txt : 20150302
0001209191-15-020479.hdr.sgml : 20150302
20150302191001
ACCESSION NUMBER: 0001209191-15-020479
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20150227
FILED AS OF DATE: 20150302
DATE AS OF CHANGE: 20150302
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
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Bonick Martin
CENTRAL INDEX KEY: 0001598595
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15925
FILM NUMBER: 15666609
MAIL ADDRESS:
STREET 1: 4000 MERIDIAN BOULEVARD
CITY: FRANKLIN
STATE: TN
ZIP: 37067
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2015-02-27
0
0001108109
COMMUNITY HEALTH SYSTEMS INC
CYH
0001598595
Bonick Martin
4000 MERIDIAN BOULEVARD
FRANKLIN
TN
37067
0
1
0
0
Division President
Common Stock
2015-02-27
4
F
0
560
48.52
D
5387
D
Common Stock
2015-03-01
4
M
0
25000
0.00
A
30387
D
Common Stock
2015-03-01
4
M
0
3333
0.00
A
33720
D
Common Stock
2015-03-01
4
F
0
4895
48.52
D
28825
D
Performance Based Restricted
0.00
2015-03-01
4
M
0
25000
0.00
D
2015-03-01
2024-02-29
Common Stock
25000
0
D
Performance Based Restricted
0.00
2015-03-01
4
M
0
3333
0.00
D
Common Stock
3333
6667
D
Performance Based Restricted
0.00
2015-03-01
4
A
0
35000
0.00
A
2016-03-01
2025-02-28
Common Stock
35000
35000
D
Stock Options (Right to Buy)
16.66
2012-12-14
2021-12-13
Common Stock
1000
1000
D
The performance objectives governing these shares of Performance Based Restricted Stock have been met, and, accordingly, these shares will now be reported in Table 1 as directly owned shares of Restricted Stock. The restrictions lapse in 1/3 increments on the first, second and third anniversary of the date of grant.
Each performance based restricted share represents a contingent right to receive one share of CYH common stock. The Company has achieved the cost savings ("synergies") from the Health Management Associates, Inc. ("HMA") merger transaction that were required to be achieved during the first year following the merger transaction, and, accordingly, 1/3 of the performance based restricted shares awarded in conjunction with the completion of the HMA merger transaction will now be reported on Table 1 as directly owned shares. The restrictions on such shares have lapsed. The remaining 2/3 of the performance based restricted shares awarded in conjunction with the completion of the HMA merger transaction will remain subject to the two-year performance target, which may be met in whole or in part in the second year following the grant. 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.
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 Martin Bonick
2015-03-02