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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PORTACCI MICHAEL T (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) Division President
	3. Date of Earliest Transaction (Month/Day/Year) 08/07/2014
	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	08/07/2014		M		10,000	A	$37.21	48,083	D
Common Stock	08/07/2014		M		5,333	A	$21.07	53,416	D
Common Stock	08/07/2014		S		15,333	D	$48.75(1)	38,083	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
Stock Options (Right to Buy)	$37.21	08/07/2014		M			10,000	02/28/2008	02/27/2015	Common Stock	10,000	$0.00	0	D
Stock Options (Right to Buy)	$21.07	08/07/2014		M			5,333	02/16/2013	02/15/2022	Common Stock	5,333	$0.00	2,667	D
Stock Options (Right to Buy)	$40.41							07/25/2008	07/24/2015	Common Stock	100,000		100,000	D
Stock Options (Right to Buy)	$32.28							02/27/2009	02/26/2018	Common Stock	20,000		20,000	D
Stock Options (Right to Buy)	$33.9							02/24/2011	02/23/2020	Common Stock	10,000		10,000	D
Stock Options (Right to Buy)	$37.96							02/23/2012	02/22/2021	Common Stock	10,000		10,000	D
Performance Based Restricted	$0.00							03/01/2015(2)	02/29/2024	Common Stock	25,000		25,000	D
Performance Based Restricted	$0.00							03/01/2015(3)	02/29/2024	Common Stock	10,000		10,000	D

Explanation of Responses:

1. These shares were sold in a series of transactions at a weighted average sales price of $48.75 per share.

2. Each performance based restricted share represents a contingent right to receive one share of CYH common stock. There are two elements to the lapsing of the restriction; first, the Company must achieve specified targeted amount of earnings per share from continuing operations, or net revenue from continuing operations, and if the performance objective is met, the vesting restrictions will lapse in 1/3 increments on the first, second and third anniversary of the date of grant. If the objectives are not met, the shares will be forfeited.

3. Each performance based restricted share represents a contingent right to receive one share of CYH common stock. The lapsing of the restrictions is dependent on the Company meeting certain cost savings ("synergies") from the Health Management Associates, Inc. merger transaction. The performance target may be met in part in the first year or in whole or in part over the first two years. There is also a time vesting element to the maximum targets of the award. If the objectives are not met, the shares will be forfeited.

Remarks:

	Rachel A. Seifert, Attorney in Fact for Michael T. Portacci	08/07/2014
	** Signature of Reporting Person	Date
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