0001209191-22-015008.txt : 20220302 0001209191-22-015008.hdr.sgml : 20220302 20220302180058 ACCESSION NUMBER: 0001209191-22-015008 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20220301 FILED AS OF DATE: 20220302 DATE AS OF CHANGE: 20220302 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Pitt Justin D CENTRAL INDEX KEY: 0001900988 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15925 FILM NUMBER: 22705537 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 2022-03-01 0 0001108109 COMMUNITY HEALTH SYSTEMS INC CYH 0001900988 Pitt Justin D 4000 MERIDIAN BLVD FRANKLIN TN 37067 0 1 0 0 EVP and General Counsel Common Stock 2022-03-01 4 M 0 30000 0.00 A 127019 D Common Stock 2022-03-01 4 A 0 30000 0.00 A 157019 D Common Stock 2022-03-02 4 F 0 17087 10.18 D 139932 D Common Stock 2022-03-01 4 A 0 5000 0.00 A 16938 I By spouse Common Stock 2022-03-01 4 F 0 1385 10.18 D 15553 I By spouse Performance Based Restricted 0.00 2022-03-01 4 M 0 15000 0.00 D Common Stock 15000 0 D Performance Based Restricted 0.00 2022-03-01 4 A 0 30000 0.00 A Common Stock 30000 30000 D Stock Options (Right to Buy) 10.18 2022-03-01 4 A 0 30000 0.00 A 2023-03-01 2032-02-29 Common Stock 30000 30000 D Performance Based Restricted 0.00 Common Stock 20000 20000 D Performance Based Restricted 0.00 Common Stock 20000 20000 D Stock Options (Right to Buy) 4.99 2020-03-01 2029-02-28 Common Stock 5000 5000 D Stock Options (Right to Buy) 4.93 2021-03-01 2030-02-28 Common Stock 20000 20000 D Stock Options (Right to Buy) 8.81 2022-03-01 2031-02-28 Common Stock 20000 20000 D The vesting of these performance-based restricted shares was based on the attainment of certain performance objectives between 1/1/2019 and 12/31/2021 (the "2019-2021 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2019-2021 Performance Period, the award vested on March 1, 2022 at 200% of the target number of the performance-based restricted shares originally granted to the reporting person on 3/1/2019. The time-vesting restrictions on this award of restricted stock will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. The Reporting Person's spouse is employed by an affiliate of the Issuer. The vesting of these performance-based restricted shares is allocated to the attainment of the following pre-determined performance objectives between 1/1/2022 and 12/31/2024 (the "2022-2024 Performance Period"), as follows: 50% to a Cumulative Consolidated Adjusted EBITDA Growth target; and 50% to a Cumulative Same-Store Net Revenue Growth target. The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2022-2024 Performance Period. Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant. The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2020 and 12/31/2022 (the "2020-2022 Performance Period"). The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each applicable performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2020-2022 Performance Period. The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2021 and 12/31/2023 (the "2021-2023 Performance Period"). The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each applicable performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2021-2023 Performance Period. Christopher G. Cobb, Attorney in Fact for Justin D. Pitt 2022-03-02