Community Health Systems (CYH) director adds stock through RSU grant and conversions

Rhea-AI Filing Summary

Community Health Systems Inc. director Elizabeth T. Hirsch reported multiple equity transactions on March 1, 2026. She exercised or converted restricted stock units into common stock in three blocks of 9,756, 20,906 and 19,933 shares at $0.00 per share, increasing her direct common share holdings.

Hirsch was also granted or awarded 52,023 restricted stock units, which vest in one-third increments on the first, second and third anniversaries of the grant date. According to the filing, restricted stock units convert to common stock on a one-to-one basis, and 34,483 restricted stock units are shown as held directly after these transactions.

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^*

Hirsch Elizabeth 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	03/01/2026		M		9,756(1)	A	$0	121,220	D
Common Stock	03/01/2026		M		20,906(1)	A	$0	142,126	D
Common Stock	03/01/2026		M		19,933(1)	A	$0	162,059	D

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	34,483		34,483	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.

	Christopher G. Cobb, Attorney in Fact for Elizabeth T. Hirsch	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).
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 transactions did CYH director Elizabeth T. Hirsch report?

Elizabeth T. Hirsch reported only acquisition-related transactions. She exercised or converted restricted stock units into common stock in three blocks of 9,756, 20,906 and 19,933 shares, and received a grant of 52,023 restricted stock units, with no sales reported in this filing.

How many restricted stock units were granted to the CYH director in this Form 4?

The filing shows a grant of 52,023 restricted stock units. These units vest in one-third increments on the first, second and third anniversaries of the grant date and will be settled in shares of Community Health Systems common stock on a one-for-one basis upon vesting or specified settlement events.

What is the conversion ratio of CYH restricted stock units to common stock?

Each restricted stock unit converts into one share of common stock. The footnotes specify that the security converts to common stock on a one-to-one basis, meaning every vested restricted stock unit will be settled in a single share of Community Health Systems common stock when delivered.

Did Elizabeth T. Hirsch sell any Community Health Systems shares in this Form 4?

No sales are reported for Elizabeth T. Hirsch in this Form 4. All coded transactions are either exercises or conversions of restricted stock units and a grant or award of new restricted stock units, with the transaction summary showing zero sell transactions and zero sell shares.

How many CYH restricted stock units does the director hold after these transactions?

The filing shows 34,483 restricted stock units held directly after the transactions. This holding reflects the restricted stock unit position as of the reported date, separate from the director’s common stock holdings, and will convert into common shares on a one-for-one basis when settled.

What vesting schedule applies to the newly granted CYH restricted stock units?

The new restricted stock units vest in three equal annual installments. They vest in one-third increments on the first, second and third anniversaries of the grant date, and once vested, will be settled in Community Health Systems common stock on a one-for-one basis.