ROBBINS LARRY 4

What Happened

• Larry Robbins, a non-employee director of CVS Health Corp (CVS), was granted 1,930.005 deferred stock units (derivative securities) on May 14, 2026. The units were valued at $97.15 each, for a total grant value of $187,500. This was an award/grant (transaction code A) issued as part of director compensation, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-05-14; Form filed: 2026-05-15 (filed the next day, timely).
• Price/value: 1,930.005 units × $97.15 = $187,500 (reported as the aggregate value).
• Shares owned after transaction: Not specified on this Form 4.
• Footnotes: F1 — units issued for deferral of a semi-annual retainer under the 2017 Incentive Compensation Plan; F2 — units will convert into one share each and be issued upon the reporting person’s retirement from the Board (as elected by the director).
• Transaction type: Derivative award (deferred stock units), not an immediate cash transaction or share sale.

Context

• This is routine director compensation paid in deferred stock units. Deferred units are not immediate common shares but are typically converted to shares (per footnote) at retirement; such awards are compensation, not a direct signal of buying or selling intent.