0001209191-16-104483.txt : 20160302 0001209191-16-104483.hdr.sgml : 20160302 20160302162521 ACCESSION NUMBER: 0001209191-16-104483 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: SMITH WAYNE T CENTRAL INDEX KEY: 0001018660 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15925 FILM NUMBER: 161477397 MAIL ADDRESS: STREET 1: 500 WEST MAIN STREET CITY: LOUISVILLE STATE: KY ZIP: 40202 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2016-03-01 0 0001108109 COMMUNITY HEALTH SYSTEMS INC CYH 0001018660 SMITH WAYNE T 4000 MERIDIAN BOULEVARD FRANKLIN TN 37067 1 1 0 0 Chairman & CEO Common Stock 2016-03-01 4 M 0 150000 0.00 A 1225081 D Common Stock 2016-03-01 4 M 0 200000 0.00 A 1425081 D Common Stock 206842 I by 2009 WTS Irrevocable Trust Dated 2/27/09 Common Stock 481721 I WAC LLC Performance Based Restricted 0.00 2016-03-01 4 M 0 150000 0.00 D 2016-03-01 2025-02-28 Common Stock 150000 0 D Performance Based Restricted 0.00 2016-03-01 4 M 0 200000 0.00 D Common Stock 200000 0 D Performance Based Restricted 0.00 2016-03-01 4 A 0 150000 0.00 A 2017-03-01 2026-02-28 Common Stock 150000 150000 D Stock Options (Right to Buy) 32.28 2009-02-27 2018-02-26 Common Stock 200000 200000 D Stock Options (Right to Buy) 33.90 2011-02-24 2020-02-23 Common Stock 50000 50000 D Stock Options (Right to Buy) 37.96 2012-02-23 2021-02-22 Common Stock 50000 50000 D Stock Options (Right to Buy) 21.07 2013-02-16 2022-02-15 Common Stock 40000 40000 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 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 Wayne T. Smith 2016-03-02