0001209191-15-023514.txt : 20150306
0001209191-15-023514.hdr.sgml : 20150306
20150306161535
ACCESSION NUMBER: 0001209191-15-023514
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20150304
FILED AS OF DATE: 20150306
DATE AS OF CHANGE: 20150306
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: PORTACCI MICHAEL T
CENTRAL INDEX KEY: 0001217259
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15925
FILM NUMBER: 15681813
MAIL ADDRESS:
STREET 1: 4000 MERIDIAN BOULEVARD
CITY: FRANKLIN
STATE: TN
ZIP: 37067
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2015-03-04
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
2015-03-04
4
S
0
14692
50.9243
D
41460
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
2667
2667
D
Performance Based Restricted
0.00
Common Stock
6667
6667
D
Performance Based Restricted
0.00
2016-03-01
2025-02-28
Common Stock
35000
35000
D
These shares were sold in a series of transactions at an average sales price of $50.9243 per share.
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 award was granted on 03/01/14. The performance target on the remaining portion of the award 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 Michael T. Portacci
2015-03-06