CAH insider files Form 144 to sell 38,078 shares valued at $5.67M via Merrill Lynch

Rhea-AI Filing Summary

Cardinal Health (CAH) Form 144 notice reports a proposed sale of 38,078 common shares through Merrill Lynch on the NYSE with an aggregate market value of $5,666,934.00, and approximately 238,793,647 shares outstanding. The securities to be sold were acquired mostly through performance unit vesting and restricted stock vesting on dates between November 15, 2022 and August 15, 2025, with specific lots of 18,500; 5,160; 5,300; 4,955; and 4,163 shares listed. The filer certifies no undisclosed material adverse information and provides a notice date and signature block as required by Rule 144.

Positive

• Filing compliance: Notice provides required Rule 144 details including broker, acquisition dates, and certification regarding material information
• Transparency of provenance: Acquisition history shows shares originate from performance units and restricted stock vesting, not open-market purchases

Negative

• Insider sale size: Proposed sale of 38,078 shares valued at $5,666,934 could be viewed as a significant insider liquidity event
• Concentration of vested awards: Multiple recent vesting events in 2025 aggregate into the block proposed for sale, reducing insider stake from those awards

Insights

Securities Analyst

TL;DR: Insider filing notifies sale of 38,078 CAH shares valued at $5.67M; procedurally compliant but represents an insider liquidity event.

The Form 144 documents a proposed sale under Rule 144 of 38,078 Cardinal Health common shares via Merrill Lynch on the NYSE, totaling $5,666,934. The lots originate from performance unit and restricted stock vesting between 2022 and 2025. The filing contains the required certification that no material non-public information is known to the seller. This is a routine disclosure of an insider-liquidity transaction and provides transparency on the timing, broker, and acquisition history for the shares to be sold.

Corporate Governance Expert

TL;DR: Filing meets Rule 144 disclosure requirements; highlights multiple vesting events aggregated for sale under the rule.

The notice identifies multiple vested equity awards aggregated for sale and specifies the broker and intended sale date of 08/19/2025. The document includes the standard representation regarding lack of undisclosed material adverse information. From a governance perspective, the filing indicates the insider is following required procedural steps and documenting the provenance of shares through granted award vesting dates.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Merrill Lynch 8890 Lyra Dr. 5th Floor Columbus OH 43240	38078	5666934.00	238793647	08/19/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/15/2025	Performance Unit Vesting	CARDINAL HEALTH INC			18500	08/15/2025	NA
Common	08/15/2025	Restricted Stock Vesting	CARDINAL HEALTH INC			5160	08/15/2025	NA
Common	06/30/2025	Performance Unit Vesting	CARDINAL HEALTH INC			5300	06/30/2025	NA
Common	08/15/2023	Restricted Stock Vesting	CARDINAL HEALTH INC			4955	08/15/2023	NA
Common	11/15/2022	Restricted Stock Vesting	CARDINAL HEALTH INC			4163	11/15/2022	NA

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the Form 144 for Cardinal Health (CAH) report?

It reports a proposed sale of 38,078 common shares via Merrill Lynch on the NYSE with an aggregate market value of $5,666,934.00.

When is the approximate sale date listed on the CAH Form 144?

The approximate date of sale is listed as 08/19/2025.

How were the shares to be sold acquired according to the filing?

The shares were acquired through performance unit vesting and restricted stock vesting on dates from 11/15/2022 to 08/15/2025.

Who is the broker named in the Form 144 for CAH?

The named broker is Merrill Lynch with an address listed at 8890 Lyra Dr., 5th Floor, Columbus, OH 43240.

Does the filing state whether the seller knows any material non-public information?

Yes, the filer represents by signing the notice that they do not know any material adverse information about the issuer that has not been publicly disclosed.