0001209191-23-014711.txt : 20230302 0001209191-23-014711.hdr.sgml : 20230302 20230302163523 ACCESSION NUMBER: 0001209191-23-014711 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20230301 FILED AS OF DATE: 20230302 DATE AS OF CHANGE: 20230302 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: STOCKTON KEVIN A CENTRAL INDEX KEY: 0001862464 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15925 FILM NUMBER: 23699634 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 2023-03-01 0 0001108109 COMMUNITY HEALTH SYSTEMS INC CYH 0001862464 STOCKTON KEVIN A 4000 MERIDIAN BLVD FRANKLIIN TN 37067 0 1 0 0 Regional President Common Stock 2023-03-01 4 M 0 15000 0.00 A 83544 D Common Stock 2023-03-01 4 A 0 25000 0.00 A 108544 D Common Stock 2023-03-01 4 F 0 15181 6.15 D 93363 D Performance Based Restricted 0.00 2023-03-01 4 M 0 15000 0.00 D Common Stock 15000 0 D Performance Based Restricted 0.00 2023-03-01 4 A 0 50000 0.00 A Common Stock 50000 50000 D Stock Options (Right to Buy) 6.15 2023-03-01 4 A 0 25000 0.00 A 2024-03-01 2033-02-28 Common Stock 25000 25000 D Performance Based Restricted 0.00 Common Stock 15000 15000 D Performance Based Restricted 0.00 Common Stock 50000 50000 D Stock Options (Right to Buy) 4.99 2020-03-01 2029-02-28 Common Stock 8000 8000 D Stock Options (Right to Buy) 4.93 2021-03-01 2030-02-28 Common Stock 15000 15000 D Stock Options (Right to Buy) 8.81 2022-03-01 2031-02-28 Common Stock 15000 15000 D Stock Options (Right to Buy) 10.18 2023-03-01 2032-02-29 Common Stock 25000 25000 D The vesting of these performance-based restricted shares was based on the attainment of certain performance objectives between 1/1/2020 and 12/31/2022 (the "2020-2022 Performance Period"). Based on the actual level of achievement of such performance objectives for the 2020-2022 Performance Period, the award vested on March 1, 2023 at 100% of the target number of the performance-based restricted shares originally reported by the Reporting Person on 3/2/2020. 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 vesting of these performance-based restricted shares is allocated to the attainment of the following pre-determined performance objectives between 1/1/2023 and 12/31/2025 (the "2023-2025 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 2023-2025 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 1/1/2021 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. The vesting of these performance-based restricted shares is subject to the attainment of certain performance objectives between 1/1/2022 and 12/31/2024 (the "2022-2024 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 2022-2024 Performance Period. Christopher G. Cobb, Attorney in Fact for Kevin A. Stockton 2023-03-02