Joyner J. David 4

What Happened
Joyner J. David, President, CEO and Chair of CVS Health (CVS), was granted 86,326 restricted stock units (RSUs) on 2026-03-31 valued at about $6,199,933 (86,326 × $71.82). Following vesting/settlement activity, 8,029 shares were surrendered on 2026-04-01 to satisfy withholding taxes, a disposition valued at about $582,022 (8,029 × $72.49). The grant is an award (code A) and the share surrender for taxes is reported as withholding (code F).

Key Details

• Grant date and value: 2026-03-31 — 86,326 RSUs at $71.82 each, total $6,199,933.
• Tax withholding: 2026-04-01 — 8,029 shares surrendered at $72.49 each, total ~$582,022.
• Award terms: RSUs awarded under the Issuer's 2017 Incentive Compensation Plan; restrictions lapse in three equal installments beginning 3/31/2027 (footnote F1).
• Withholding note: Surrender of shares was to pay withholding taxes upon vesting/settlement of RSUs (footnote F2).
• Filing: Period of report 2026-03-31; Form 4 filed 2026-04-02 — appears timely based on reported dates.
• Shares owned after transaction: not specified in the provided filing details.

Context
These transactions reflect a standard executive equity award and routine tax withholding rather than an open-market buy or sell. RSU grants increase potential future ownership but vest over time (three equal installments starting 3/31/2027). The surrender of shares to cover taxes is a common administrative step and does not necessarily signal the insider’s view of the company’s prospects.