Form 4: Community Health Systems Director Wayne T. Smith Reports Changes in Beneficial Ownership
SEC Form 4
Wayne T. Smith, a director at Community Health Systems Inc., reports changes in beneficial ownership of company stock and derivative securities, including vesting of performance-based restricted shares and acquisition of restricted stock units.
Summary
- On March 1, 2025, Wayne T. Smith, a director of Community Health Systems Inc., reported changes in his beneficial ownership of the company's securities.
- 30,240 performance-based restricted shares vested due to the attainment of certain performance objectives between January 1, 2022, and December 31, 2024.
- The remaining 149,760 performance-based restricted shares were forfeited.
- Smith also acquired 59,801 restricted stock units that vest in 1/3 increments annually.
- Smith directly owns 5,236,979 shares of common stock.
- He indirectly owns 1,606,842 shares through The Modified 2009 WTS Irrev Trust Dated 12/16/22 and 481,721 shares through WAC LLC.
- Smith holds various stock options with exercise prices ranging from $4.93 to $10.18 and expiration dates between 2029 and 2032.
- He also holds 35,609.301 stock units accrued under the Company's Directors' Fees Deferral Plan.
Sentiment
Score: 5
Explanation: This is a neutral regulatory filing, so the sentiment is neither positive nor negative. It simply reports transactions.
Negatives
- 149,760 performance-based restricted shares were forfeited due to not meeting performance objectives.
Industry Context
This filing is a routine disclosure of changes in beneficial ownership by a company insider, as required by the SEC. It provides transparency to investors regarding the holdings and transactions of company directors.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their insiders.
- The details disclosed are consistent with SEC regulations and provide a clear picture of the director's holdings in Community Health Systems.
- Comparable companies such as HCA Healthcare and Tenet Healthcare also have similar insider transaction filings available for review.
Stakeholder Impact
- Shareholders are informed about the director's stake in the company.
- The filing provides transparency regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 12/16/2022 | Date of The Modified 2009 WTS Irrev Trust |
| 03/02/2022 | Original report of performance-based restricted shares |
| 03/01/2020 | Date of Stock Options (Right to Buy) |
| 03/01/2021 | Date of Stock Options (Right to Buy) |
| 03/01/2022 | Date of Stock Options (Right to Buy) |
| 03/01/2023 | Date of Stock Options (Right to Buy) |
| 03/01/2025 | Date of transaction and vesting of performance-based restricted shares |
| 03/03/2025 | Date of signature |
| 02/28/2029 | Expiration Date of Stock Options (Right to Buy) |
| 02/28/2030 | Expiration Date of Stock Options (Right to Buy) |
| 02/28/2031 | Expiration Date of Stock Options (Right to Buy) |
| 02/29/2032 | Expiration Date of Stock Options (Right to Buy) |
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