UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): December 11, 2020 (
(Exact name of registrant as specified in its charter)
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 9, 2020, the Board of Directors (the “Board”) of Community Health Systems, Inc. (the “Company”) appointed Tim L. Hingtgen as Chief Executive Officer of the Company, effective January 1, 2021, in place of Wayne T. Smith, who is currently the Company’s Chairman of the Board and Chief Executive Officer. The Board has appointed Mr. Smith as Executive Chairman of the Board of Directors, also effective January 1, 2021. The contemplated appointments of Mr. Hingtgen as Chief Executive Officer and of Mr. Smith as Executive Chairman of the Board of Directors were previously announced in a Current Report on Form 8-K filed by the Company on October 27, 2020, which is incorporated herein by reference.
In addition, on December 9, 2020, the Board, upon the recommendation of the Compensation Committee of the Board, approved an annual base salary for Mr. Hingtgen for 2021 of $1,200,000 in connection with his upcoming service as Chief Executive Officer, and an annual base salary for Mr. Smith for 2021 of $1,000,000 in connection with his upcoming service as Executive Chairman of the Board of Directors. It is contemplated that the Board, at its February 2021 meeting, will approve cash incentive compensation and long-term incentive compensation for Mr. Hingtgen and Mr. Smith commensurate with their new roles with the Company.
| Item 9.01 | Financial Statements and Exhibits |
(d) Exhibits
The following exhibits are filed herewith:
| Exhibit |
Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: December 11, 2020 | COMMUNITY HEALTH SYSTEMS, INC. | |||||
| (Registrant) | ||||||
| By: | /s/ Wayne T. Smith | |||||
| Wayne T. Smith | ||||||
| Chairman of the Board and Chief Executive Officer (principal executive officer) | ||||||