Community Health Systems (NYSE: CYH) SVP & CAO receives new stock and option awards

Rhea-AI Filing Summary

Community Health Systems SVP & CAO Phillip A. Posey reported multiple equity awards in the latest insider filing. On March 1, 2026, he received grants of 25,000 performance-based restricted shares, 25,000 stock options, and 25,000 shares of common stock, all at a reported price of $0.00 per share, reflecting compensation awards rather than open-market purchases.

The performance-based restricted shares will vest based on Community Health Systems’ cumulative same-store adjusted EBITDA growth and cumulative same-store net revenue growth during the 2026–2028 performance period, with between 0% and 200% of the target vesting depending on results. The time-based restricted stock and stock options vest in one-third increments on the first, second, and third anniversaries of the grant date. The filing also shows a disposition of 1,188 shares of common stock at $3.46 per share to cover tax liabilities, leaving Posey with 51,736 common shares 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^*

Posey Phillip A.

(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)

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

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		A		25,000(1)	A	$0	52,924	D
Common Stock	03/01/2026		F		1,188	D	$3.46	51,736	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
Performance Based Restricted	$0	03/01/2026		A		25,000		(2)	(2)	Common Stock	25,000	$0	25,000	D
Stock Options (Right to Buy)	$3.46	03/01/2026		A		25,000		03/01/2027(3)	02/29/2036	Common Stock	25,000	$0	25,000	D

Explanation of Responses:

1. The time-vesting restrictions on this award of restricted stock will lapse in 1/3 increments on the first, second and third anniversary of the date of grant.

2. The vesting of these performance-based restricted shares is allocated to the Issuer's attainment of the following predetermined performance objectives between 1/1/2026 and 12/31/2028 (the "2026-2028 Performance Period"), as follows: 50% to a Cumulative Same-Store Adjusted EBITDA Growth target; and 50% to a Cumulative Same-Store Net Revenue Growth target. The target number (100%) of the total performance-based restricted shares is reported in the table set forth above. Between 0% and 200% of the portion of the target number of performance-based restricted shares allocated to each performance objective will ultimately vest on the third anniversary of the date of grant, subject to the attainment of the applicable performance objective, with the vesting percentage to be determined based upon the level of achievement with respect to the applicable performance objective during the 2026-2028 Performance Period.

3. Vesting occurs in 1/3 increments on the first, second and third anniversary of the date of grant.

	Christopher G. Cobb, Attorney in Fact for Phillip A. Posey	03/03/2026
	** Signature of Reporting Person	Date
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FAQ

What insider transactions did CYH executive Phillip A. Posey report on March 1, 2026?

Phillip A. Posey reported grants of performance-based restricted shares, stock options, and common stock on March 1, 2026. He also reported a small share disposition to cover tax liabilities related to these awards, all held in a direct ownership capacity.

How many performance-based restricted shares did CYH grant to Phillip A. Posey?

Community Health Systems granted 25,000 performance-based restricted shares to Phillip A. Posey. Vesting depends on cumulative same-store adjusted EBITDA growth and cumulative same-store net revenue growth during the 2026–2028 performance period, with between 0% and 200% of the target potentially vesting.

What vesting schedule applies to Phillip A. Posey’s CYH restricted stock and stock options?

The restricted stock and stock options granted to Phillip A. Posey vest in one-third increments. Vesting occurs on the first, second, and third anniversaries of the March 1, 2026 grant date, aligning these awards with multi-year executive retention and performance horizons.

How are Phillip A. Posey’s performance-based CYH restricted shares tied to company performance?

Posey’s performance-based restricted shares are split 50% to cumulative same-store adjusted EBITDA growth and 50% to cumulative same-store net revenue growth for 2026–2028. Between 0% and 200% of each portion may vest, depending on achievement of the specific performance objectives.

Why did Phillip A. Posey dispose of 1,188 CYH common shares in this filing?

The 1,188 CYH common shares were disposed of to satisfy tax liabilities or exercise-related obligations. The transaction is coded as “F,” indicating payment of the exercise price or tax liability by delivering securities instead of reflecting an open-market sale for investment purposes.

How many CYH common shares does Phillip A. Posey directly own after these transactions?

After the March 1, 2026 transactions, Phillip A. Posey directly owns 51,736 shares of CYH common stock. This balance reflects the new stock grant and the tax-related share disposition reported together in the same Form 4 insider filing.