0001209191-14-051116.txt : 20140807 0001209191-14-051116.hdr.sgml : 20140807 20140807161641 ACCESSION NUMBER: 0001209191-14-051116 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20140807 FILED AS OF DATE: 20140807 DATE AS OF CHANGE: 20140807 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: PORTACCI MICHAEL T CENTRAL INDEX KEY: 0001217259 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 001-15925 FILM NUMBER: 141024131 MAIL ADDRESS: STREET 1: 4000 MERIDIAN BOULEVARD CITY: FRANKLIN STATE: TN ZIP: 37067 4 1 doc4.xml FORM 4 SUBMISSION X0306 4 2014-08-07 0 0001108109 COMMUNITY HEALTH SYSTEMS INC CYH 0001217259 PORTACCI MICHAEL T 4000 MERIDIAN BOULEVARD FRANKLIN TN 37067 0 1 0 0 Division President Common Stock 2014-08-07 4 M 0 10000 37.21 A 48083 D Common Stock 2014-08-07 4 M 0 5333 21.07 A 53416 D Common Stock 2014-08-07 4 S 0 15333 48.75 D 38083 D Stock Options (Right to Buy) 37.21 2014-08-07 4 M 0 10000 0.00 D 2008-02-28 2015-02-27 Common Stock 10000 0 D Stock Options (Right to Buy) 21.07 2014-08-07 4 M 0 5333 0.00 D 2013-02-16 2022-02-15 Common Stock 5333 2667 D Stock Options (Right to Buy) 40.41 2008-07-25 2015-07-24 Common Stock 100000 100000 D Stock Options (Right to Buy) 32.28 2009-02-27 2018-02-26 Common Stock 20000 20000 D Stock Options (Right to Buy) 33.90 2011-02-24 2020-02-23 Common Stock 10000 10000 D Stock Options (Right to Buy) 37.96 2012-02-23 2021-02-22 Common Stock 10000 10000 D Performance Based Restricted 0.00 2015-03-01 2024-02-29 Common Stock 25000 25000 D Performance Based Restricted 0.00 2015-03-01 2024-02-29 Common Stock 10000 10000 D These shares were sold in a series of transactions at a weighted average sales price of $48.75 per share. 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 restriction; first, the Company must achieve specified targeted amount of earnings per share from continuing operations, or net revenue from continuing operations, and if the performance objective is met, the vesting restrictions will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. If the objectives are not met, the shares will be forfeited. Each performance based restricted share represents a contingent right to receive one share of CYH common stock. The lapsing of the restrictions is dependent on the Company meeting certain cost savings ("synergies") from the Health Management Associates, Inc. merger transaction. The performance target may be met in part in the first year or in whole or in part over the first two years. There is also a time vesting element to the maximum targets of the award. If the objectives are not met, the shares will be forfeited. Rachel A. Seifert, Attorney in Fact for Michael T. Portacci 2014-08-07