Community Health Systems (CYH) director updates holdings with stock unit conversion

Rhea-AI Filing Summary

Community Health Systems director equity activity: On 12/31/2025, a director of Community Health Systems, Inc. converted 2,882 stock units into shares of common stock at an exercise price of $0 under the company’s Directors' Fees Deferral Plan. After this transaction, the director beneficially owned 362,281 shares of common stock directly and 4,990 shares indirectly through E5 Investors LLC.

The filing also shows ongoing deferred compensation and equity awards. The director holds 13,085.472 stock units and several blocks of restricted stock units, including 53,779, 9,756, 41,812, and 59,801 units. These units generally vest in one‑third increments on the first, second, and third anniversaries of the grant date and will be settled on a one‑for‑one basis in shares of common stock, either upon or following the director’s cessation of service, depending on prior deferral elections.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ely James S. III

(Last) (First) (Middle)

4000 MERIDIAN BOULEVARD

(Street)

FRANKLIN TN 37067

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
COMMUNITY HEALTH SYSTEMS INC [ CYH ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/31/2025		M		2,882(1)	A	$0	362,281	D
Common Stock								4,990	I	By E5 Investors LLC

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Units (SU)	$0	12/31/2025		M			2,882.471(2)	(1)	(1)	Common Stock	15,967.943	$0	13,085.472	D
Restricted Stock Units	$0							(3)	(3)	Common Stock	53,779		53,779	D
Restricted Stock Units	$0							(4)	(4)	Common Stock	9,756		9,756	D
Restricted Stock Units	$0							(4)	(4)	Common Stock	41,812		41,812	D
Restricted Stock Units	$0							(4)	(4)	Common Stock	59,801		59,801	D

Explanation of Responses:

1. These stock units were accrued under the Issuer's Directors' Fees Deferral Plan in lieu of a portion of the Reporting Person's director cash compensation and are settled in shares of the Issuer's common stock on a one-for-one basis on the last business day of the calendar quarter following Reporting Person's cessation as a director or upon a date or dates previously specified by the Reporting Person.

2. Pursuant to the Issuer's Directors' Fees Deferral Plan, a cash payment was made to the Reporting Person in lieu of the fractional stock units (0.471), which are cancelled and do not convert into fractional shares of the Issuer's common stock.

3. These restricted stock units vested in 1/3 increments on the first, second and third anniversary of the date of grant. Based on the Reporting Person's prior deferral elections pursuant to the terms of the award agreement, these restricted stock units will be settled in shares of the Issuer's common stock on a one-for-one basis upon the Reporting Person's cessation as a director or upon a date or dates previously specified by the Reporting Person.

4. These restricted stock units vest in 1/3 increments on the first, second and third anniversary of the date of the grant. Upon vesting, these restricted stock units will be settled in shares of the Issuer's common stock on a one-for-one basis.

	Christopher G. Cobb, Attorney in Fact for James S. Ely III	12/31/2025
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Community Health Systems (CYH) report on 12/31/2025?

A director converted 2,882 stock units into shares of Community Health Systems common stock at an exercise price of $0 under the Directors' Fees Deferral Plan.

How many Community Health Systems (CYH) shares does the director own after the reported transaction?

Following the transaction, the director beneficially owned 362,281 shares of CYH common stock directly and 4,990 shares indirectly through E5 Investors LLC.

What is the Community Health Systems Directors' Fees Deferral Plan mentioned in the filing?

Under this plan, a director may receive a portion of cash fees as stock units, which are later settled in shares of CYH common stock on a one‑for‑one basis, typically after the director leaves the board or on dates the director previously selected.

How are fractional stock units treated in this Community Health Systems (CYH) Form 4?

The filing states that 0.471 fractional stock units were paid out in cash to the director and then cancelled, meaning they do not convert into fractional shares of CYH common stock.

What restricted stock units (RSUs) does the Community Health Systems director hold?

The director holds several RSU awards, including 53,779, 9,756, 41,812, and 59,801 restricted stock units. These generally vest in 1/3 increments on the first, second, and third anniversaries of the grant date and are then settled in shares of CYH common stock.

When will the Community Health Systems director’s deferred and restricted stock units be settled?

Stock units accrued under the Directors' Fees Deferral Plan and certain RSUs will be settled in shares of CYH common stock on a one‑for‑one basis upon the director’s cessation as a director or on dates previously specified by the director in deferral elections.