Community Health Systems (NYSE: CYH) director logs RSU award and share gift

Rhea-AI Filing Summary

Community Health Systems Inc. director Wayne T. Smith reported routine equity activity. He received a grant of 52,023 restricted stock units, which will vest in three equal annual installments and be settled in common shares at specified future dates. He also made a bona fide gift of 19,400 common shares to individuals outside his household, leaving him with 5,217,579 common shares held directly after the gift.

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^*

SMITH WAYNE T

(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	03/02/2026		G		19,400(1)	D	$0	5,217,579	D
Common Stock								1,606,842	I	by The Modified 2009 WTS Irrev Trust Dated 12/16/22
Common Stock								481,721	I	WAC 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		A		52,023		(2)	(2)	Common Stock	52,023	$0	339,233	D
Stock Options (Right to Buy)	$4.99							03/01/2020	02/28/2029	Common Stock	78,750		78,750	D
Stock Options (Right to Buy)	$4.93							03/01/2021	02/28/2030	Common Stock	112,500		112,500	D
Stock Options (Right to Buy)	$8.81							03/01/2022	02/28/2031	Common Stock	90,000		90,000	D
Stock Options (Right to Buy)	$10.18							03/01/2023	02/29/2032	Common Stock	90,000		90,000	D
Stock Units (SU)	$0							(3)	(3)	Common Stock	35,609.301		35,609.301	D

Explanation of Responses:

1. These shares were gifted to individuals who do not share the Reporting Person's household.

2. These restricted stock units vest 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.

3. 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 Wayne T. Smith	03/03/2026
	** 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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FAQ

What insider transactions did CYH director Wayne T. Smith report on this Form 4?

Wayne T. Smith reported two main items: a grant of 52,023 restricted stock units and a bona fide gift of 19,400 common shares. The grant increases his future share-based compensation, while the gift transfers existing ownership to individuals outside his household.

How many restricted stock units did CYH grant to director Wayne T. Smith?

Community Health Systems granted Wayne T. Smith 52,023 restricted stock units. These units vest in one-third increments on each of the first three anniversaries of the grant date and will be settled in an equal number of common shares at pre-selected future dates or upon his board service ending.

What is the nature of Wayne T. Smith’s 19,400-share transaction in CYH stock?

The 19,400-share transaction is a bona fide gift of Community Health Systems common stock. The shares were gifted to individuals who do not share Smith’s household, meaning he disposed of shares without receiving cash proceeds, rather than executing an open-market sale.

How many CYH common shares does Wayne T. Smith hold directly after these transactions?

After the reported transactions, Wayne T. Smith directly holds 5,217,579 shares of Community Health Systems common stock. This figure reflects his position following the 19,400-share gift and excludes additional indirect holdings through entities or deferred stock-based compensation arrangements.

How and when will Wayne T. Smith’s CYH restricted stock units be settled?

The 52,023 restricted stock units vest in three annual installments and are settled one-for-one in Community Health Systems common shares. Settlement occurs after his cessation as a director or on specific dates he previously elected under the award agreement’s deferral provisions.

What other CYH equity-based holdings are reported for Wayne T. Smith on this Form 4?

In addition to common stock and restricted stock units, the filing lists stock options and stock units from a directors’ fees deferral plan. These stock units are settled one-for-one in Community Health Systems common shares after Smith’s board service ends or on pre-elected future dates.