Karen S. Lynch - Apr 1, 2023 Form 4 Insider Report for CVS HEALTH Corp (CVS)

Signature
/s/ Karen S. Lynch
Stock symbol
CVS
Transactions as of
Apr 1, 2023
Transactions value $
$11,241,245
Form type
4
Date filed
4/4/2023, 04:32 PM
Previous filing
Feb 3, 2023
Next filing
May 5, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CVS Common Stock Tax liability -$6.96M -93.7K -45.34% $74.31 113K Apr 1, 2023 Direct F1
holding CVS Common Stock (By Trust) 304K Apr 1, 2023 Direct
holding CVS Common Stock (Restricted) 0 Apr 1, 2023 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CVS Stock Option Award $18.2M +245K $74.31 245K Apr 1, 2023 Common Stock 245K $74.31 Direct F9
holding CVS Stock Appreciation Rights 193K Apr 1, 2023 Common Stock 193K $45.91 Direct F2
holding CVS Stock Appreciation Rights 94K Apr 1, 2023 Common Stock 94K $37.91 Direct F3
holding CVS Stock Option 242K Apr 1, 2023 Common Stock 242K $54.19 Direct F4
holding CVS Stock Option 211K Apr 1, 2023 Common Stock 211K $58.34 Direct F5, F6
holding CVS Stock Option 225K Apr 1, 2023 Common Stock 225K $74.30 Direct F7
holding CVS Stock Option 172K Apr 1, 2023 Common Stock 172K $101.09 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Surrender of shares in payment of withholding taxes due upon the vesting and settlement of a performance stock unit award.
F2 Represents unvested Aetna Inc. Stock Appreciation Rights ("SARs") granted under the Aetna Plan on February 17, 2017 that were converted into CVS Health SARs pursuant to the terms of the CVS/Aetna Merger Agreement. These SARs vest in two substantially equal annual installments beginning on February 17, 2019.
F3 Represents unvested SARs granted under the Aetna Plan on February 19, 2016 that were converted into CVS Health SARs pursuant to the terms of the CVS/Aetna Merger Agreement. These SARs vested on February 19, 2019.
F4 Option became exercisable in four equal annual installments, commencing 4/1/2020.
F5 The number of shares subject to the option were calculated using a 30-day average price.
F6 Option became exercisable in four equal installments, commencing 4/1/2021.
F7 Option became exercisable in four equal installments, commencing 4/1/2022.
F8 Option became exercisable in four equal installments, commencing 4/1/2023.
F9 Option becomes exercisable in four equal annual installments, commencing 4/1/2024.