CHE Form 3: Officer Joel Wherley discloses stock, options, performance units
Rhea-AI Filing Summary
Joel L. Wherley, listed as an officer (CEO - Vitas Healthcare) of Chemed Corporation (CHE), filed an Initial Form 3 reporting beneficial ownership on 08/27/2025. He directly owns 659 shares of Chemed capital stock and holds stock options exercisable in 2028 and 2029 covering 6,961 and 8,382 shares at exercise prices of $509.46 and $597.70. He also holds multiple performance stock units that convert to shares if performance targets are met over 2023–2027 performance periods.
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Insights
TL;DR: Executive disclosed direct shares, multi-year options with high exercise prices, and performance-driven RSUs tied to EPS and TSR.
The filing documents a typical executive equity package: modest direct ownership plus sizeable option grants and performance stock units. The options have specified exercise prices of $509.46 and $597.70 with multi-year vesting schedules. Performance stock units span three overlapping performance periods (2023–2025, 2024–2026, 2025–2027) and vest based on EPS and TSR targets with determinations due by March 15 following each period.
TL;DR: Filing shows governance transparency and compensation tied to multi-year performance metrics.
The Form 3 provides clear disclosure of direct and derivative holdings and the performance conditions attached to RSUs. Vesting and performance determination timelines are explicitly defined, supporting alignment of executive incentives with shareholder outcomes. The disclosure meets Section 16 initial reporting requirements and specifies contingent share delivery upon achievement of stated EPS and TSR targets.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy with tandem tax withholding) | -- | -- | -- |
| holding | Stock Option (right to buy with tandem tax withholding) | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Performance Stock Unit | -- | -- | -- |
| holding | Capital Stock | -- | -- | -- |
Footnotes (1)
- Vesting in three equal annual installments commencing 10/25/2024. Vesting in three equal annual installments commencing 10/22/2025. The restricted stock units vest based on the extent to which the Company achieves certain Earnings per Share performance targets over a performance period of January 1, 2023 through December 31, 2025 with the determination of such performance level to be made no later than March 15, 2026 and earned shares of Capital Stock to be delivered thereafter. Each performance stock unit represents a contingent right to receive one share of Chemed Capital Stock. The restricted stock units vest based on the extent to which the Company achieves certain Total Shareholder Return performance targets over a performance period of January 1, 2023 through December 31, 2025 with the determination of such performance level to be made no later than March 15, 2026 and earned shares of Capital Stock to be delivered thereafter. The restricted stock units vest based on the extent to which the Company achieves certain Earnings per Share performance targets over a performance period of January 1, 2024 through December 31, 2026 with the determination of such performance level to be made no later than March 15, 2027 and earned shares of Capital Stock to be delivered thereafter. The restricted stock units vest based on the extent to which the Company achieves certain Total Shareholder Return performance targets over a performance period of January 1, 2024 through December 31, 2026 with the determination of such performance level to be made no later than March 15, 2027 and earned shares of Capital Stock to be delivered thereafter. The restricted stock units vest based on the extent to which the Company achieves certain Earnings per Share performance targets over a performance period of January 1, 2025 through December 31, 2027 with the determination of such performance level to be made no later than March 15, 2028 and earned shares of Capital Stock to be delivered thereafter. The restricted stock units vest based on the extent to which the Company achieves certain Total Shareholder Return performance targets over a performance period of January 1, 2025 through December 31, 2027 with the determination of such performance level to be made no later than March 15, 2028 and earned shares of Capital Stock to be delivered thereafter.
FAQ
What did Joel L. Wherley report on Form 3 for CHE?
What are the exercise prices and exercisable dates of the reported options?
How do the performance stock units vest for CHE filings?
When was the event requiring this Form 3 filed?
Does the filing indicate indirect ownership or other relationships?
