SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

SCHOEN WILLIAM J

(Last)

(First)

(Middle)

HEALTH MANAGEMENT ASSOCIATES, INC.

5811 PELICAN BAY BOULEVARD, SUITE 500

(Street)

NAPLES

34108

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
HEALTH MANAGEMENT ASSOCIATES INC [ HMA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chairman

3. Date of Earliest Transaction (Month/Day/Year)
11/12/2003

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock, $.01 par value	11/12/2003		M		200,000	A	$5.16	6,235,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/12/2003		S		200,000	D	$22.5	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		170,000	A	$5.16	6,205,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		170,000	D	$22.9	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		50,000	A	$5.16	6,085,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		50,000	D	$22.905	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		50,000	A	$5.16	6,085,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		50,000	D	$22.95	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		3,000	A	$5.16	6,038,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		3,000	D	$22.96	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		7,000	A	$5.16	6,042,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		7,000	D	$22.97	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		20,000	A	$5.16	6,055,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		20,000	D	$22.98	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		M		500,000	A	$5.16	6,535,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value	11/13/2003		S		500,000	D	$23	6,035,209⁽¹⁾	I	See Footnote⁽¹⁾
Class A Common Stock, $.01 par value								7,354	I	401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (Right to Buy)	$5.16	11/12/2003		M			200,000	05/18/1998	05/17/2005	Class A Common Stock, $.01 par value	2,025,000⁽²⁾	$0	1,825,000⁽²⁾	D
Stock Option (Right to Buy)	$5.16	11/13/2003		M			800,000	05/18/1998	05/17/2005	Class A Common Stock, $.01 par value	1,825,000⁽²⁾	$0	1,025,000⁽²⁾	D
Stock Option (Right to Buy)	$10.33							05/21/1999	05/20/2006	Class A Common Stock, $.01 par value	675,000⁽²⁾		675,000⁽²⁾	D
Stock Option (Right to Buy)	$12.72							05/12/2000	05/11/2007	Class A Common Stock, $.01 par value	4,500,000⁽²⁾		4,500,000⁽²⁾	D
Stock Option (Right to Buy)	$13							01/02/2001	05/27/2009	Class A Common Stock, $.01 par value	1,000,000⁽²⁾		1,000,000⁽²⁾	D
Stock Option (Right to Buy)	$12.125							01/02/2001	05/25/2010	Class A Common Stock, $.01 par value	1,000,000⁽²⁾		1,000,000⁽²⁾	D
Contingent Stock Award	$0							12/07/2003	12/07/2003	Class A Common Stock, $.01 par value	31,803⁽³⁾		31,803⁽³⁾	D
Contingent Stock Award	$0							12/05/2004	12/05/2004	Class A Common Stock, $.01 par value	32,808⁽³⁾		32,808⁽³⁾	D
Contingent Stock Award	$0							12/04/2005	12/04/2005	Class A Common Stock, $.01 par value	9,817⁽³⁾		9,817⁽³⁾	D
Call Option (Obligation to Sell)	$33.423							01/31/2004	01/31/2004	Class A Common Stock, $.01 par value	2,250,000⁽⁴⁾		2,250,000⁽⁴⁾	I	See Footnote ⁽⁴⁾
Put Option (Right to Sell)	$17.905							01/31/2004	01/31/2004	Class A Common Stock, $.01 par value	2,250,000⁽⁴⁾		2,250,000⁽⁴⁾	I	See Footnote ⁽⁴⁾

Explanation of Responses:

1. Shares owned by various trusts over which Mr. Schoen is Trustee, Settlor, and/or Beneficiary.

2. This employee stock option was previously reported by Mr. Schoen.

3. This contingent stock incentive award under the Issuer's 1996 Executive Incentive Compensation Plan was previously reported by Mr. Schoen.

4. These options were previously reported by Mr. Schoen. These two options represent a "zero-cost collar" arrangement of Karen A. Sutton, Trustee u/a/d 12/1/96 of the William J. Schoen Charitable Remainder Unitrust. Only one of the options can be "in the money" on the expiration date, at which time the in-the-money option will be exercised and the other option will expire. If neither option is in the money on the expiration date, both options will expire.

Remarks:

	William J. Schoen	11/14/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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