Form 4: CVS Health Corp: SVP, Interim CFO Thomas F. Cowhey Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Thomas F. Cowhey, SVP and Interim CFO of CVS Health Corp, reports changes in beneficial ownership of common stock due to the vesting of a restricted stock award and associated tax obligations.
Summary
- On February 28, 2024, Thomas F. Cowhey, SVP and Interim CFO of CVS Health Corp, reported changes in his beneficial ownership of CVS common stock.
- The changes involve the surrender of 5,641 shares to cover withholding taxes due upon the vesting of a restricted stock award at a price of $75.19 per share.
- Following the transaction, Cowhey directly owns 28,631 shares of common stock and 41,643 shares of restricted common stock.
- Cowhey also holds options for 20,790 shares exercisable from April 1, 2023, at $101.09 and options for 33,402 shares exercisable from April 1, 2024, at $74.31.
Sentiment
Score: 5
Explanation: This is a neutral report on stock transactions related to executive compensation. It doesn't inherently indicate positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure related to executive compensation and stock ownership, which is common in publicly traded companies. It provides transparency into the holdings and transactions of company insiders.
Comparison to Industry Standards
- Form 4 filings are standard practice for publicly traded companies and their executives.
- The vesting schedules and option grants are typical components of executive compensation packages, aligning with industry norms for incentivizing performance and retaining key personnel.
- Comparable companies like Walgreens Boots Alliance (WBA) and UnitedHealth Group (UNH) also have similar reporting requirements for their executives.
Stakeholder Impact
- The filing provides transparency to shareholders regarding the stock ownership of a key executive.
- It assures stakeholders that executives' interests are aligned with those of the shareholders through equity ownership.
Key Dates
| Date | Description |
|---|---|
| 02/28/2024 | Date of transaction: Surrender of shares for tax withholding. |
| 03/01/2024 | Date of signature on the Form 4 filing. |
| 04/01/2023 | First exercisable date for stock options at $101.09. |
| 04/01/2024 | First exercisable date for stock options at $74.31. |
| 04/01/2032 | Expiration date for stock options at $101.09. |
| 04/01/2033 | Expiration date for stock options at $74.31. |
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