CAREMARK RX INC 4

4 · CAREMARK RX INC · Filed Mar 26, 2007

Form 4

Period: 2007-03-22

EVP & CFO

Transactions

Disposition to Issuer
Stock Option
2007-03-22−50,000→ 0 total
Exercise: $13.21From: 2001-11-07Exp: 2011-11-07→ Common Stock, $.001 par value (50,000 underlying)
Disposition to Issuer
Common Stock, $.001 par value
2007-03-22−5,027.808→ 0 total
Disposition to Issuer
Stock Option
2007-03-22−20,000→ 0 total
Exercise: $18.35From: 2003-03-31Exp: 2013-03-31→ Common Stock, $.001 par value (20,000 underlying)
Disposition to Issuer
Stock Option
2007-03-22−75,000→ 0 total
Exercise: $50.84From: 2007-03-01Exp: 2016-03-01→ Common Stock, $.001 par value (75,000 underlying)
Disposition to Issuer
Stock Option
2007-03-22−40,000→ 0 total
Exercise: $32.03From: 2005-05-10Exp: 2014-05-10→ Common Stock, $.001 par value (40,000 underlying)

Footnotes (3)

[F1]Disposed of pursuant to a merger agreement between issuer and CVS Corporation at the rate of 1.67 shares of CVS/Caremark Corporation common stock for each share of issuer stock. All issuer shares held by Reporting Person were disposed.
[F2]Includes 14.558 shares that were purchased through the Carestock Employee Stock Purchase Plan in 2007.
[F3]Issuer options are being replaced in the merger with CVS/Caremark Corporation options exercisable for CVS/Caremark Corporation common stock. The number of CVS/Caremark Corporation common shares and the exercise price of the CVS/Caremark Corporation replacement option will be computed using a formula that will result in the Reporting Person receiving an intrinsic value in the CVS/Caremark Corporation replacement option that will be approximately equal to the intrinsic value of the issuer options valued immediately prior to the merger.

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