Franklin, Tenn.-based Community Health Systems has increased base salaries and updated compensation structures for several key executives, according to a Form 8-K filed with the SEC,
The company's board approved base salary increases of about 3% for various executives for fiscal year 2024. Here are the updated base salaries:
- Tim Hingtgen, CEO: $1,326,125
- Kevin Hammons, CFO: $795,675
- Lynn Simon, MD, president of healthcare innovation and chief medical officer: $679,691
- Mark Medley, regional president-region operations: $672,000
- Kevin Stockton, executive vice president of operations and development: $710,000
- Chad Campbell, regional president-region operations $672,000
CHS also approved performance goals as part of its employee performance incentive plan. The following target opportunities are expressed as a percentage of base salary:
- Mr. Hingtgen: 225%
- Mr. Hammons: 125%
- Dr. Simon: 105%
- Mr. Medley: 115%
- Mr. Stockton: 105%
- Mr. Campbell: 115%
The executives will also have the opportunity to earn an additional percentage of their base salary if they hit specific non-financial performance targets up to a maximum of an additional 40% for Mr. Hingtgen; 35% for Mr. Hammons; 20% for each of Dr. Simon and Mr. Stockton; and 10% for each of Mr. Medley and Mr. Campbell.
Each leader can earn a further percentage of their base pay for overachievement of performance goals up to a maximum of an additional 35% for Mr. Hingtgen and an additional 25% for each of Mr. Hammons, Dr. Simon, Mr. Stockton, Mr. Medley and Mr. Campbell.