Community Health Systems (NYSE: CYH) director boosts stake with stock unit awards

Rhea-AI Filing Summary

COMMUNITY HEALTH SYSTEMS INC director James S. Ely III reported multiple equity transactions involving restricted stock units and common shares of CYH.

On March 1, 2026, he exercised several blocks of restricted stock units, receiving matching amounts of common stock at a price of $0.00 per share, which increased his direct common stock holdings to 412,876 shares. He also received a new grant of 52,023 restricted stock units that will settle in common stock under the company’s award terms.

Following these transactions, he directly holds 53,779 restricted stock units and 13,085.472 stock units under a directors’ fee deferral plan, each convertible into common stock on a one-for-one basis under specified conditions. In addition, 4,990 common shares are held indirectly through E5 Investors LLC.

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).

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)
03/01/2026

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	03/01/2026		M		9,756(1)	A	$0	372,037	D
Common Stock	03/01/2026		M		20,906(1)	A	$0	392,943	D
Common Stock	03/01/2026		M		19,933(1)	A	$0	412,876	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
Restricted Stock Units	$0	03/01/2026		M			9,756	(2)	(2)	Common Stock	9,756	$0	0	D
Restricted Stock Units	$0	03/01/2026		M			20,906	(2)	(2)	Common Stock	20,906	$0	20,906	D
Restricted Stock Units	$0	03/01/2026		M			19,933	(2)	(2)	Common Stock	19,933	$0	39,868	D
Restricted Stock Units	$0	03/01/2026		A		52,023		(2)	(2)	Common Stock	52,023	$0	52,023	D
Restricted Stock Units	$0							(3)	(3)	Common Stock	53,779		53,779	D
Stock Units (SU)	$0							(4)	(4)	Common Stock	13,085.472		13,085.472	D

Explanation of Responses:

1. The security converts to common stock on a one-to-one basis.

2. 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.

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 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.

	Christopher G. Cobb, Attorney in Fact for James S. Ely III	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did James S. Ely III report for CYH?

James S. Ely III reported exercising several restricted stock unit awards into common stock and receiving a new grant of 52,023 restricted stock units. These transactions increased his direct share ownership and added new equity-based awards that will settle in Community Health Systems common stock under award terms.

How many CYH common shares does James S. Ely III own after these transactions?

After the reported transactions, James S. Ely III directly owns 412,876 shares of Community Health Systems common stock. The filing also shows 4,990 additional shares held indirectly through E5 Investors LLC, reflecting both his personal and related-entity equity exposure to the company.

What new awards did James S. Ely III receive from Community Health Systems (CYH)?

James S. Ely III received a grant of 52,023 restricted stock units with a conversion into common stock on a one-for-one basis. The footnotes explain these units vest in one-third increments on the first, second and third anniversaries of the grant date, subject to award terms.

What equity-based holdings does James S. Ely III still have in CYH after exercising RSUs?

Following the exercises, he directly holds 53,779 restricted stock units and 13,085.472 stock units under the Directors’ Fees Deferral Plan. Both instruments are settled in Community Health Systems common stock on a one-for-one basis upon specified vesting or deferral conditions described in the plan.

How are James S. Ely III’s deferred CYH stock units structured?

The filing states that certain restricted stock units and stock units were accrued under a directors’ deferral plan instead of cash fees. These units convert into Community Health Systems common stock on a one-for-one basis upon his cessation as a director or at dates he previously elected.

What indirect ownership in CYH does James S. Ely III report?

In addition to his directly held shares and units, James S. Ely III reports 4,990 shares of Community Health Systems common stock held indirectly through E5 Investors LLC. The filing characterizes this position as indirect ownership, separate from his direct personal holdings in the company.