CVS Health Form 4 shows director stock retainer grant

Rhea-AI Filing Summary

CVS Health Corp reported an insider equity transaction by a company director on a Form 4. On 11/20/2025, the director acquired 1,775 shares of CVS Health common stock, labeled as an acquisition, at a price of $76.04 per share. The filing explains that these shares were issued as payment of a semi-annual retainer at the market price under the company’s 2017 Incentive Compensation Plan, meaning they represent stock-based compensation rather than an open-market purchase. Following this transaction, the director directly owns 127,772 shares of CVS Health common stock.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BROWN C DAVID II

(Last) (First) (Middle)

ONE CVS DRIVE

(Street)

WOONSOCKET RI 02895-

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CVS HEALTH Corp [ CVS ]

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

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	11/20/2025		A		1,775(1)	A	$76.04	127,772	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Consists of common stock issued in payment of a semi-annual retainer, at the market price, pursuant to the Issuer's 2017 Incentive Compensation Plan.

	/s/ C. David Brown II	11/21/2025
	** 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 4 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did CVS (CVS) report in this Form 4?

The Form 4 reports that a director of CVS Health Corp acquired 1,775 shares of common stock on 11/20/2025 as part of their compensation.

At what price were the CVS (CVS) shares valued in the director’s Form 4 grant?

The 1,775 CVS Health common shares were issued at a market price of $76.04 per share as noted in the Form 4.

How many CVS (CVS) shares does the director own after this Form 4 transaction?

After the reported transaction, the director directly owns 127,772 shares of CVS Health common stock.

What is the purpose of the CVS (CVS) share grant reported in the Form 4?

The 1,775 shares were issued in payment of a semi-annual retainer at the market price under CVS Health’s 2017 Incentive Compensation Plan.

Is the CVS (CVS) Form 4 transaction a purchase on the open market?

No. The Form 4 states the common stock was issued in payment of a semi-annual retainer, indicating it is stock-based compensation rather than an open-market buy.

What role does the reporting person have at CVS (CVS)?

The reporting person is identified as a Director of CVS Health Corp, filing individually as one reporting person on the Form 4.