[Form 3] Chemed Corporation Initial Statement of Beneficial Ownership

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.

Insights

Financial Analyst

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.

Corporate Governance Expert

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.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Wherley Joel L

(Last) (First) (Middle)

255 EAST FIFTH STREET

SUITE 2600

(Street)

CINCINNATI OH 45202

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/27/2025

3. Issuer Name and Ticker or Trading Symbol
CHEMED CORP [ CHE ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO - Vitas Healthcare

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Capital Stock	659	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy with tandem tax withholding)	(1)	10/25/2028	Capital Stock	6,961	$509.46	D
Stock Option (right to buy with tandem tax withholding)	(2)	10/22/2029	Capital Stock	8,382	$597.7	D
Performance Stock Unit	(3)	(3)	Capital Stock	220	(4)	D
Performance Stock Unit	(5)	(5)	Capital Stock	220	(4)	D
Performance Stock Unit	(6)	(6)	Capital Stock	223	(4)	D
Performance Stock Unit	(7)	(7)	Capital Stock	223	(4)	D
Performance Stock Unit	(8)	(8)	Capital Stock	312	(4)	D
Performance Stock Unit	(9)	(9)	Capital Stock	312	(4)	D

Explanation of Responses:

1. Vesting in three equal annual installments commencing 10/25/2024.

2. Vesting in three equal annual installments commencing 10/22/2025.

3. 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.

4. Each performance stock unit represents a contingent right to receive one share of Chemed Capital Stock.

5. 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.

6. 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.

7. 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.

8. 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.

9. 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.

	Joel L Wherley	08/27/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What did Joel L. Wherley report on Form 3 for CHE?

He reported direct ownership of 659 shares, stock options for 6,961 and 8,382 shares, and multiple performance stock units that convert to shares if targets are met.

What are the exercise prices and exercisable dates of the reported options?

Options: one exercisable beginning 10/25/2028 at $509.46, and another beginning 10/22/2029 at $597.70.

How do the performance stock units vest for CHE filings?

Performance stock units vest based on specified EPS and Total Shareholder Return (TSR) targets over performance periods from 2023–2027, with performance determinations due by specified March 15 dates.

When was the event requiring this Form 3 filed?

08/27/2025 as the date of the event requiring the initial statement.

Does the filing indicate indirect ownership or other relationships?

The filing lists ownership as Direct (D) for reported shares, options, and performance units, and identifies Wherley as an Officer (CEO - Vitas Healthcare).