0001209191-16-104449.txt : 20160302
0001209191-16-104449.hdr.sgml : 20160302
20160302161951
ACCESSION NUMBER: 0001209191-16-104449
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20160301
FILED AS OF DATE: 20160302
DATE AS OF CHANGE: 20160302
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: Hingtgen Tim
CENTRAL INDEX KEY: 0001598637
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-15925
FILM NUMBER: 161477323
MAIL ADDRESS:
STREET 1: 4000 MERIDIAN BOULEVARD
CITY: FRANKLIN
STATE: TN
ZIP: 37067
4
1
doc4.xml
FORM 4 SUBMISSION
X0306
4
2016-03-01
0
0001108109
COMMUNITY HEALTH SYSTEMS INC
CYH
0001598637
Hingtgen Tim
4000 MERIDIAN BOULEVARD
FRANKLIN
TN
37067
0
1
0
0
Division President
Common Stock
2016-03-01
4
M
0
35000
0.00
A
69407
D
Common Stock
2016-03-01
4
M
0
6667
0.00
A
76074
D
Performance Based Restricted
0.00
2016-03-01
4
M
0
35000
0.00
D
2016-03-01
2025-02-28
Common Stock
35000
0
D
Performance Based Restricted
0.00
2016-03-01
4
M
0
6667
0.00
D
Common Stock
6667
0
D
Performance Based Restricted
0.00
2016-03-01
4
A
0
40000
0.00
A
2017-03-01
2026-02-28
Common Stock
40000
40000
D
Stock Options (Right to Buy)
36.76
2009-05-20
2018-05-19
Common Stock
1500
1500
D
Stock Options (Right to Buy)
33.90
2011-02-24
2020-02-23
Common Stock
1000
1000
D
Stock Options (Right to Buy)
37.96
2012-02-23
2021-02-22
Common Stock
1000
1000
D
Stock Options (Right to Buy)
21.07
2013-02-16
2022-02-15
Common Stock
334
334
D
On February 19, 2014, Reporting Person's shares of CYH common stock held in Reporting Person's brokerage account were transferred to another brokerage account held by Reporting Person. In conjunction with the transfer, the original broker automatically sold Reporting Person's fractional holdings, 0.128 shares, at a price of $41.33 per share, for a total sale price of $5.29. The Reporting Person's holdings on Table 1 have been updated to reflect the sale of those fractional shares.
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 time-vesting restrictions lapse in 1/3 increments on the first, second and third anniversary of the date of grant.
Pursuant to the terms governing the award, 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 two years following the HMA merger transaction, and, accordingly, the performance-based restrictions on the remaining portion of the award have lapsed as of the second anniversary of the date of grant. All such shares will now be reported on Table 1 as directly owned shares of Restricted Stock. There is also a time-vesting element. The time-vesting restrictions lapse in equal installments on the 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. There are two elements to the lapsing of the performance-based restriction; first, the Company must achieve specified targeted amount of adjusted EBITDA or net revenue from continuing operations, and if the performance objective is met, the time-vesting restrictions will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. If the performance objectives are not met, the shares will be forfeited.
Christopher G. Cobb, Attorney in Fact for Tim Hingtgen
2016-03-02