Chemed (CHE) CEO McNamara reports PSU vesting, 0% TSR payout, new grant
Rhea-AI Filing Summary
Chemed Corp director and president/CEO Kevin J. McNamara reported equity compensation activity involving performance stock units and company shares. On February 13, 2026, performance stock units (PSUs) vested and were settled in 2,714 shares of capital stock at $469.56 per share, with 1,192 shares withheld to cover tax obligations.
The vested PSUs tied to cumulative adjusted earnings per share from January 1, 2023 through December 31, 2025, where actual performance of $67.67 exceeded the maximum payout threshold of $66.46, yielding an award of 123% of target, or 124.1% of target including reinvested dividends. A separate PSU tranche based on relative total shareholder return over the same period earned 0% of target, even after dividend reinvestment.
McNamara also received a new grant of 5,114 PSUs that will vest based on performance targets over January 1, 2026 to December 31, 2028, with the performance level to be determined by March 15, 2029 and any earned shares delivered thereafter.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Performance Stock Units | 2,187 | $0.00 | -- |
| Exercise | Performance Stock Units | 2,187 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 5,114 | $0.00 | -- |
| Exercise | Capital Stock | 2,714 | $469.56 | $1.27M |
| Exercise | Capital Stock | 0 | $469.56 | -- |
| Tax Withholding | Capital Stock | 1,192 | $469.56 | $560K |
Footnotes (1)
- The number of performance stock units ("PSUs") that vested was based on the Company's cumulative adjusted earnings per share for the period January 1, 2023 through December 31, 2025. The actual performance of $67.67 exceeded the maximum payout threshold of $66.46 and therefore yielded an award of 123% of target; including the reinvestment of dividends paid during such period, the award is 124.1% of target. The number of PSUs that vested was based on the Company's achieving relative total shareholder returns for the period January 1, 2023 through December 31, 2025, compared to a defined peer group of companies. The Company's performance ranked in the 7th percentile of that group, yielding an award of 0%; including the reinvestment of dividends paid during such period, the award is 0% of target. Shares withheld to satisfy tax obligations in connection with vesting of PSUs. Each PSU reflects the contingent right to receive a variable number of shares of capital stock based on achieving performance goals. PSUs were settled in shares on their scheduled vesting date as determined by the Compensation Committee. PSUs awarded February 17, 2023 vest based on achievement of performance targets over a period of January 1, 2023 to December 31, 2025. The determination of the performance level is to be made by March 15, 2026. Each performance stock unit represents a contingent right to receive one share of Chemed Capital Stock Performance stock units vest based on the extent to which the Company achieves certain performance targets over a performance period of January 1, 2026 to December 31, 2028. The determination of the performance level is to be made by March 15, 2029 and earned shares to be delivered thereafter.
