Form 4: Community Health Systems Director Wayne T. Smith Reports Gift of Shares and Beneficial Ownership Changes

Wayne T. Smith, a director of Community Health Systems Inc., reported a gift of 20,336 common stock shares and changes in his beneficial ownership, including holdings in trusts and LLCs.

Summary

• On February 21, 2025, Wayne T. Smith, a director of Community Health Systems Inc. (CYH), filed a Form 4 with the SEC.
• The filing reports a gift of 20,336 shares of common stock.
• Smith directly owns 5,206,739 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.
• The filing also details Smith's ownership of derivative securities, including performance-based restricted shares, restricted stock units, stock options, and stock units.
• Some of the performance-based restricted shares are subject to the attainment of certain performance objectives between 1/1/2022 and 12/31/2024.
• Restricted stock units vest in 1/3 increments on the first, second, and third anniversary of the grant date.
• Stock units were accrued under the Company's Directors' Fees Deferral Plan and are settled in common stock upon cessation as a director or on a specified date.

Sentiment

Score: 5

Explanation: This is a neutral filing, simply reporting a gift of shares and changes in beneficial ownership. It doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider transactions, which is common for directors and officers of publicly traded companies. It provides transparency to investors regarding the ownership stake and transactions of company insiders.

Comparison to Industry Standards

• Form 4 filings are standard practice for corporate insiders in publicly traded companies like Community Health Systems.
• Similar filings are made by executives at comparable healthcare companies such as HCA Healthcare and Tenet Healthcare, reflecting changes in their ownership positions.
• The details disclosed, such as the number of shares, transaction dates, and derivative holdings, are consistent with the level of information required by SEC regulations for insider transaction reporting.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's ownership and transactions.
• The gift of shares may have a minor impact on the overall share distribution.

Key Dates

Keywords

beneficial ownership, Form 4, director, Community Health Systems, stock options, restricted stock units, common stock, shares, stock units, gift