Community Health Systems, Inc. filings document the regulatory record of a hospital operator with NYSE-listed common stock and a wholly owned subsidiary that issues senior secured notes, CHS/Community Health Systems, Inc. The company's 8-K reports disclose operating results, Regulation FD information, debt tender offers, senior secured note matters, asset dispositions and related exhibits.
Proxy and governance filings describe board matters, named executive officer compensation, incentive plans and shareholder voting items. Capital-structure disclosures cover common stock registration, senior secured notes due 2031 and 2032, tender-offer mechanics and other material events tied to the company's healthcare delivery assets and outpatient network.
Community Health Systems director John A. Clerico reported multiple equity transactions dated March 1, 2026. He exercised previously granted restricted stock units that converted one-for-one into 50,595 shares of common stock at a stated price of $0.00 per share.
Clerico also received a new award of 52,023 restricted stock units that vest in equal one-third installments on the first, second and third anniversaries of the grant date and are settled in common shares on a one-for-one basis. Following these transactions, he directly holds 368,763 shares of common stock and 52,023 restricted stock units.
BURGESS RONALD L JR reported acquisition or exercise transactions in this Form 4 filing.
COMMUNITY HEALTH SYSTEMS INC director Ronald L. Burgess Jr. received a grant of 52,023 restricted stock units on March 1, 2026. These units vest in one-third increments on the first, second and third anniversaries of the grant date.
According to his prior deferral elections, the restricted stock units will be settled in an equal number of shares of common stock upon his cessation as a director or on specified future dates. After this grant, he directly held 174,542 restricted stock units and no shares of common stock.
Community Health Systems director Susan W. Brooks reported multiple equity transactions on March 1, 2026. She exercised restricted stock units that convert to common stock on a one-to-one basis, acquiring 50,595 shares of common stock. She also received a new grant of 52,023 restricted stock units, which vest in one-third increments on the first, second and third anniversaries of the grant date and will be settled in common stock on a one-for-one basis. Following these transactions, she directly owned 108,695 shares of common stock and 52,023 restricted stock units.
Community Health Systems, Inc. reports its full-year 2025 results and outlines strategy and industry trends. Net operating revenues were $12,485 million, roughly flat year over year, while net income attributable to stockholders improved to $509 million, reversing prior-year losses.
The company operated 69 hospitals with 10,458 licensed beds and 8,983 beds in service at December 31, 2025, plus more than 1,000 outpatient sites. Same-store net operating revenues rose 4.6%, and income from operations on a same-store basis increased 7.2%, with adjusted EBITDA margin holding at 12.2%.
Operating cash flow strengthened to $543 million, and the company generated $847 million of net cash from investing activities while using $1,167 million in financing activities, reflecting significant debt activity and divestitures. Management highlights initiatives in regional networks, outpatient expansion, productivity, quality programs and adaptation to evolving Medicare, Medicaid and commercial payor dynamics.
Community Health Systems, Inc. reported a sharp turnaround for 2025, moving to net income attributable to stockholders of $509 million or $3.77 per diluted share from a loss of $(516) million or $(3.90) in 2024. Full-year net operating revenues slipped 1.2% to $12.485 billion, but same-store revenue rose 4.6%, showing growth in the ongoing portfolio.
Adjusted EBITDA for 2025 was broadly flat at $1.526 billion, while net cash from operating activities increased to $543 million. Results benefited significantly from $406 million of net non-cash gains on divestitures and asset sales. The company executed a major portfolio reshaping, selling multiple hospitals and its lab outreach business, and received $1.254 billion of hospital and ancillary sale proceeds.
Leverage improved as $445 million of 10.875% senior secured notes due 2032 and all $14 million of 5.625% notes due 2027 were redeemed, helping reduce long-term debt to $10.380 billion. For 2026, management guides to net operating revenues of $11.6–$12.0 billion, Adjusted EBITDA of $1.34–$1.49 billion, and diluted EPS between $(0.60) and $0.00, reflecting expected pressure from divestitures and interest expense.
Community Health Systems Inc. attracted a new significant shareholder disclosure. Investment entities including CastleKnight Master Fund LP, CastleKnight Fund GP LLC, CastleKnight Management LP, CastleKnight Management GP LLC, Weitman Capital LLC, and individual investor Aaron Weitman reported beneficial ownership of 9,748,536 shares of Class A common stock, equal to 7.0% of the outstanding class as of the event date. All reporting persons list zero sole voting or dispositive power and instead share voting and dispositive power over the same 9,748,536 shares. They certify that the position is not held for the purpose of changing or influencing control of Community Health Systems, indicating a passive investment stance.
Community Health Systems, Inc. (CYH) received an amended Schedule 13G/A showing that Eversept Partners, L.P., Eversept 1 LLC and Kamran Moghtaderi jointly report beneficial ownership of 7,943,802 shares of common stock, representing 5.73% of the outstanding class as of the event date.
The reporting persons disclose sole voting and dispositive power over 6,911,186 shares and shared voting and dispositive power over 1,032,616 shares. They state the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Community Health Systems.
Apollo Capital Management, Apollo Management Holdings and affiliated funds report beneficial ownership of 11,838,609 shares of Community Health Systems, Inc. common stock, representing 8.5% of the class. The percentage is based on 138,519,615 shares outstanding as of October 17, 2025, from the company’s Form 10-Q.
The Apollo complex reports no sole voting or dispositive power and shared voting and dispositive power over these shares through multiple investment vehicles, including Apollo Credit Strategies Master Fund Ltd., AAA Multi-Asset Credit Strategies Fund (Z), L.P. and others. Several Apollo entities and executives expressly disclaim beneficial ownership of the shares.
The filing is an Amendment No. 3 to Schedule 13G, indicating the position is reported on a passive basis. The signatory certifies that the securities were not acquired and are not held for the purpose of changing or influencing control of Community Health Systems, other than limited activities related to director nominations under the cited SEC rule.
Community Health Systems, Inc. approved 2026 compensation packages for three top executives, including CEO Kevin J. Hammons, CFO Jason K. Johnson and EVP Kevin A. Stockton. Base salaries were set at $1,250,000 for Hammons, $630,000 for Johnson and $740,000 for Stockton.
The Board also set annual cash incentive targets as percentages of salary, with Hammons at 215%, Johnson at 115% and Stockton at 95%, plus additional upside for non-financial improvements and overachievement of goals. Long-term incentives include stock options, time-vesting restricted stock and performance-based restricted stock granted on March 1, 2026, with performance awards measured over 2026–2028 and vesting outcomes ranging from 0% to 200% of target.
Community Health Systems, Inc. completed the sale of its CHS subsidiary’s 80% ownership interest in joint ventures that own and operate Tennova Healthcare – Clarksville and related ancillary businesses to Vanderbilt University Medical Center and its affiliates. The CHS selling entity received $623 million in cash, subject to a post-closing working capital adjustment. Separately, CHS subsidiaries paid approximately $23 million in cash to the purchaser to settle the purchaser’s share of amounts owed to the joint ventures by CHS. The company classified this as a significant disposition and filed unaudited pro forma condensed consolidated financial statements to show the impact of the transaction.
Community Health Systems, Inc. completed the sale of its CHS subsidiary’s 80% ownership interest in joint ventures that own and operate Tennova Healthcare – Clarksville and related ancillary businesses to Vanderbilt University Medical Center and its affiliates. The CHS selling entity received $623 million in cash, subject to a post-closing working capital adjustment. Separately, CHS subsidiaries paid approximately $23 million in cash to the purchaser to settle the purchaser’s share of amounts owed to the joint ventures by CHS. The company classified this as a significant disposition and filed unaudited pro forma condensed consolidated financial statements to show the impact of the transaction.
Community Health Systems, Inc. completed the sale of its CHS subsidiary’s 80% ownership interest in joint ventures that own and operate Tennova Healthcare – Clarksville and related ancillary businesses to Vanderbilt University Medical Center and its affiliates. The CHS selling entity received $623 million in cash, subject to a post-closing working capital adjustment. Separately, CHS subsidiaries paid approximately $23 million in cash to the purchaser to settle the purchaser’s share of amounts owed to the joint ventures by CHS. The company classified this as a significant disposition and filed unaudited pro forma condensed consolidated financial statements to show the impact of the transaction.