Franklin, Tenn.-based Community Health Systems' board recently approved 2019 pay packages for its top executives.
CHS Chairman and CEO Wayne T. Smith's base salary is $1.6 million this year. His base pay has remained the same since 2015. The company's CFO, COO and CMO each received a raise this year between 3 percent and 4 percent, according to the Nashville Post.
The cash bonuses CHS' top executives are eligible to receive this year are largely the same as in 2018. Mr. Smith can receive up to three times his base salary in incentives in 2019, according to the report.
For 2019, Mr. Smith has been granted 157,500 restricted shares that will vest based on CHS' performance during the three-year period beginning Jan. 1, 2019, and ending Dec. 31, 2021. That's up from the 105,000 performance-based shares he received in 2018. Mr. Smith was also granted 78,750 time-vesting restricted shares that will vest over the next three years. He received 105,000 time-vested restricted shares in 2018, according to the report.
CHS released its financial results for the fourth quarter of 2018 on Feb. 20. The company reported a net loss of $328 million on revenues of $3.45 billion in the fourth quarter of last year. That's compared to the same period of 2017, when CHS recorded a net loss of $2 billion on revenues of $3.06 billion.
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