Companies CVS Health Corp
CVS Health (CVS): executive pay, fiscal 2025
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CEO pay, last three years
- $17,808,792FY2024
- $21,214,084FY2025
CEO total pay was $21,214,084 in fiscal 2025, up from $17,808,792 in fiscal 2024.
FY2025: salary $1,500,000 · bonus $0 · stock awards $14,499,931 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| J. David Joyner | $1,500,000 | $0 | $14,499,931 | $0 | $4,695,900 | $64,644 | $453,609 | $21,214,084 |
| President and Chief Executive Officer | ||||||||
| Prem Shah | 1,100,000 | 0 | 7,199,920 | 1,799,993 | 3,013,000 | 0 | 266,297 | 13,379,210 |
| Executive Vice President and Group President | ||||||||
| Steven Nelson | 1,000,000 | 0 | 5,799,915 | 1,449,994 | 2,988,000 | 0 | 349,201 | 11,587,110 |
| Executive Vice President and President, Aetna | ||||||||
| Tilak Mandadi | 1,000,000 | 0 | 5,599,965 | 1,399,996 | 2,561,000 | 0 | 416,755 | 10,977,716 |
| Executive Vice President, Ventures and Chief Experience and Technology Officer | ||||||||
| Brian Newman | 696,970 | 0 | 5,599,950 | 1,399,989 | 1,562,000 | 0 | 161,599 | 9,420,508 |
| Executive Vice President and Chief Financial Officer | ||||||||
| Thomas Cowhey | 420,833 | 0 | 4,399,978 | 1,099,995 | 0 | 3,097 | 791,235 | 6,715,138 |
| Former Executive Vice President and Chief Financial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| J. David Joyner | $21,214,084 | $17,808,792 | — | ↑ +3,405,292 |
| Prem Shah | 13,379,210 | 13,265,855 | 8,582,366 | ↑ +113,355 |
| Steven Nelson | 11,587,110 | — | — | — |
| Tilak Mandadi | 10,977,716 | 11,361,343 | 8,881,845 | ↓ −383,627 |
| Brian Newman | 9,420,508 | — | — | — |
| Thomas Cowhey | 6,715,138 | 7,644,364 | 4,579,937 | ↓ −929,226 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Incentive-plan design — the Compensation Discussion & Analysis
Although we consider numerous factors in our pay decisions, these five core principles drive our executive compensation philosophy
| CEO STI target (% of salary) | 200% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Korn Ferry |
| Clawback policy | True |
| Anti-hedging | True |
| Anti-pledging | True |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Prem Shah | PSU | 2025-04-01 | 37,307 | 67,830 | — | 135,660 | $5,399,946 |
| Steven Nelson | PSU | 2025-04-01 | 30,053 | 54,641 | — | 109,282 | 4,349,970 |
| Tilak Mandadi | PSU | 2025-04-01 | 29,016 | 52,757 | — | 105,514 | 4,199,985 |
| Tilak Mandadi | RSU | 2025-04-01 | — | — | 20,594 | — | 1,399,980 |
| Tilak Mandadi | OPTION | 2025-04-01 | — | — | 87,336 | — | 1,399,996 |
| Prem Shah | OPTION | 2025-04-01 | — | — | 112,289 | — | 1,799,993 |
| Thomas Cowhey | OPTION | 2025-04-01 | — | — | 68,621 | — | 1,099,995 |
| J. David Joyner | RSU | 2025-04-01 | — | — | 53,324 | — | 3,624,966 |
| Thomas Cowhey | PSU | 2025-04-01 | 22,799 | 41,452 | — | 82,904 | 3,299,994 |
| J. David Joyner | PSU | 2025-04-01 | 75,132 | 136,603 | — | 273,206 | 10,874,965 |
| Prem Shah | RSU | 2025-04-01 | — | — | 26,478 | — | 1,799,974 |
| Brian Newman | OPTION | 2025-05-31 | — | — | 94,786 | — | 1,399,989 |
| Brian Newman | RSU | 2025-05-31 | — | — | 21,861 | — | 1,399,978 |
| Steven Nelson | OPTION | 2025-04-01 | — | — | 90,455 | — | 1,449,994 |
| Steven Nelson | RSU | 2025-04-01 | — | — | 21,329 | — | 1,449,945 |
| Brian Newman | PSU | 2025-05-31 | 30,919 | 56,217 | — | 112,434 | 4,199,972 |
| Thomas Cowhey | RSU | 2025-04-01 | — | — | 16,181 | — | 1,099,984 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Prem Shah | $1,799,974 | $5,399,946 | $1,799,993 | 60.0% |
| Steven Nelson | 1,449,945 | 4,349,970 | 1,449,994 | 60.0% |
| Tilak Mandadi | 1,399,980 | 4,199,985 | 1,399,996 | 60.0% |
| Thomas Cowhey | 1,099,984 | 3,299,994 | 1,099,995 | 60.0% |
| J. David Joyner | 3,624,966 | 10,874,965 | 0 | 75.0% |
| Brian Newman | 1,399,978 | 4,199,972 | 1,399,989 | 60.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Thomas Cowhey | RSU | 2,396 | — | $190,147 |
| Thomas Cowhey | RSU | 3,640 | — | 288,870 |
| Thomas Cowhey | RSU | 3,896 | — | 309,187 |
| Thomas Cowhey | Option | 5,198 | 101.09 | — |
| Thomas Cowhey | PSU | 6,908 | — | 548,219 |
| Thomas Cowhey | RSU | 7,108 | — | 564,091 |
| Thomas Cowhey | RSU | 7,739 | — | 614,167 |
| J. David Joyner | RSU | 7,981 | — | 633,372 |
| Thomas Cowhey | Option | 8,351 | 74.31 | — |
| Prem Shah | Option | 10,395 | 101.09 | — |
| Prem Shah | RSU | 11,312 | — | 897,720 |
| Tilak Mandadi | RSU | 12,255 | — | 972,557 |
| Thomas Cowhey | Option | 15,674 | 79.56 | — |
| J. David Joyner | RSU | 16,548 | — | 1,313,249 |
| Thomas Cowhey | Option | 17,155 | 67.98 | — |
| Tilak Mandadi | RSU | 20,594 | — | 1,634,340 |
| J. David Joyner | RSU | 21,210 | — | 1,683,226 |
| Steven Nelson | RSU | 21,329 | — | 1,692,669 |
| Brian Newman | RSU | 21,861 | — | 1,734,889 |
| Thomas Cowhey | PSU | 23,489 | — | 1,864,087 |
| J. David Joyner | Option | 25,980 | 74.31 | — |
| Prem Shah | RSU | 26,478 | — | 2,101,294 |
| Prem Shah | RSU | 28,368 | — | 2,251,284 |
| J. David Joyner | PSU | 29,361 | — | 2,330,089 |
| Tilak Mandadi | RSU | 30,732 | — | 2,438,892 |
| Tilak Mandadi | RSU | 33,417 | — | 2,651,973 |
| Prem Shah | Option | 44,537 | 74.31 | — |
| Prem Shah | PSU | 46,978 | — | 3,728,174 |
| Prem Shah | Option | 47,022 | 79.56 | — |
| Tilak Mandadi | Option | 48,248 | 74.31 | — |
| Tilak Mandadi | PSU | 50,893 | — | 4,038,868 |
| Tilak Mandadi | Option | 50,940 | 79.56 | — |
| Tilak Mandadi | PSU | 52,757 | — | 4,186,796 |
| J. David Joyner | RSU | 53,324 | — | 4,231,793 |
| Steven Nelson | PSU | 54,641 | — | 4,336,310 |
| Brian Newman | PSU | 56,217 | — | 4,461,381 |
| Prem Shah | PSU | 67,830 | — | 5,382,989 |
| Steven Nelson | Option | 82,920 | 71.82 | — |
| Tilak Mandadi | Option | 87,336 | 67.98 | — |
| Steven Nelson | Option | 90,455 | 67.98 | — |
| Brian Newman | Option | 94,786 | 64.04 | — |
| Prem Shah | Option | 112,289 | 67.98 | — |
| J. David Joyner | PSU | 136,603 | — | 10,840,814 |
| Prem Shah | Option | 497,515 | 71.82 | — |
| J. David Joyner | Option | 995,030 | 71.82 | — |
Director compensation
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Michael F. MahoneyIndependent · Lead Independent Director · Nominating and Corporate Governance (Chair) · Management Planning and Development · Executive | $105,459 | $316,208 | $0 | — | $0 | $421,667 |
| Fernando AguirreIndependent · Audit (Chair) · Management Planning and Development | 91,284 | 273,716 | 0 | — | 0 | 365,000 |
| C. David Brown IIIndependent · Management Planning and Development (Chair) · Nominating and Corporate Governance | 90,060 | 269,940 | 0 | — | 0 | 360,000 |
| Jeffrey R. BalserIndependent · Audit · Health Services and Technology (Chair) · Executive | 90,060 | 269,940 | 0 | — | 0 | 360,000 |
| Anne M. FinucaneIndependent · Audit · Management Planning and Development · Public Policy and External Affairs (Chair) | 86,875 | 260,625 | 0 | — | — | 347,500 |
| Douglas H. ShulmanIndependent · Management Planning and Development · Health Services and Technology | 83,786 | 251,214 | 0 | — | 0 | 335,000 |
| Guy P. SansoneIndependent · Audit | 83,786 | 251,214 | 0 | — | 0 | 335,000 |
| Alecia A. DeCoudreauxIndependent · Health Services and Technology · Nominating and Corporate Governance | 83,750 | 251,250 | 0 | — | 0 | 335,000 |
| Larry M. RobbinsIndependent · Audit | 83,750 | 251,250 | 0 | — | 0 | 335,000 |
| J. Scott KirbyIndependent · Health Services and Technology · Nominating and Corporate Governance | 83,815 | 251,185 | 0 | — | — | 335,000 |
| Leslie V. NorwalkNot independent · Health Services and Technology | 83,786 | 251,214 | 0 | — | 0 | 335,000 |
| J. David JoynerEmployee director · Board Chair · Executive | 0 | 0 | 0 | — | 0 | 0 |
| Mary L. SchapiroNot standing for re-election · Departed during FY | 0 | 0 | 0 | 0 | 0 | 0 |
| Nancy-Ann M. DeParleNot standing for re-election · Departed during FY | 0 | 0 | 0 | 0 | 0 | 0 |
| Jean-Pierre MillonNot standing for re-election · Departed during FY | 0 | 0 | 0 | 0 | 0 | 0 |
| Roger N. FarahNot independent · Executive (Chair) | 0 | 0 | 0 | — | 0 | 0 |
Board fee structure and ownership guideline
| Annual cash retainer | $83,750 |
|---|---|
| Annual equity retainer | $251,250 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 30,000 / 25,000 / 25,000 |
| Stock ownership guideline | $10,000 |
Total cost of the board
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $966,411 |
| Equity awards (grant-date value) | $2,897,756 |
| All other compensation | $0 |
| Total cost of the board | $3,864,167 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Peer group, and who names CVS Health as a peer
Companies that benchmark against CVS
19 companies name CVS as a compensation peer
The list of companies that name CVS as a peer is temporarily unavailable — recheck shortly.
Disclosed peer group — fiscal year 2025
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Peer reciprocity
The companies CVS Health Corp names as compensation peers that name it back in their own disclosed peer groups.
Chief executive pay against the peer group
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company’s own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Microsoft Corporation | 2026 | Satya Nadella | $2,500,000 | $77,570,774 | $0 | $10,299,000 | $90,628,977 |
| 2 | Thermo Fisher Scientific Inc. | 2025 | Marc Casper | 1,785,534 | 65,730,211 | 7,951,377 | 3,742,123 | 79,923,350 |
| 3 | International Business Machines Corporation | 2025 | Arvind Krishna | 1,500,000 | 23,988,586 | 6,606,312 | 5,250,000 | 37,989,685 |
| 4 | Johnson & Johnson | 2025 | Joaquin Duato | 1,600,000 | 15,028,948 | 5,927,995 | 4,298,700 | 32,758,111 |
| 5 | AbbVie Inc. | 2025 | Robert Michael | 1,700,000 | 13,268,456 | 3,199,154 | 5,200,000 | 32,530,984 |
| 6 | Iqvia Holdings Inc. | 2025 | Ari Bousbib | 1,800,000 | 15,749,957 | 4,528,317 | 4,966,127 | 28,128,245 |
| 7 | Pfizer Inc. | 2025 | Albert Bourla | 1,800,000 | 9,442,705 | 8,998,141 | 5,400,000 | 27,585,301 |
| 8 | HCA Healthcare, Inc. | 2025 | Samuel Hazen | 1,577,815 | 8,474,543 | 8,514,090 | 5,416,732 | 26,456,606 |
| 9 | McKesson Corporation | 2026 | Brian Tyler | 1,591,667 | 17,201,202 | 0 | 4,456,668 | 24,213,044 |
| 10 | Danaher Corporation | 2025 | Rainer Blair | 1,400,000 | 9,292,370 | 8,386,657 | 4,194,400 | 23,795,280 |
| 11 | The Cigna Group | 2025 | David Cordani | 1,600,000 | 13,929,161 | 3,400,019 | 3,200,000 | 22,866,134 |
| 12 | Elevance Health, Inc. | 2025 | Gail Boudreaux | 1,600,000 | 13,440,277 | 4,199,765 | 2,768,000 | 22,582,314 |
| 13 | Cardinal Health, Inc. | 2026 | Jason Hollar | 1,500,000 | 16,259,918 | 0 | 4,278,750 | 22,574,349 |
| 14 | Bristol-Myers Squibb Company | 2025 | Christopher Boerner | 1,586,346 | 16,061,399 | 0 | 3,754,684 | 21,879,919 |
| 15 | CVS Health Corp | 2025 | J. David Joyner | 1,500,000 | 14,499,931 | 0 | 4,695,900 | 21,214,084 |
| 16 | Merck & Co., Inc. | 2025 | Robert Davis | 1,645,302 | 12,102,838 | 3,380,004 | 2,326,500 | 20,797,845 |
| 17 | Centene Corporation | 2025 | Sarah London | 1,473,077 | 15,537,733 | 0 | 2,109,446 | 19,506,298 |
| 18 | Align Technology, Inc. | 2025 | Joseph Hogan | 1,400,000 | 16,556,872 | 0 | 1,220,100 | 19,193,988 |
| 19 | Humana Inc. | 2025 | James Rechtin | 1,348,558 | 13,868,141 | 0 | 3,034,740 | 18,757,075 |
| 20 | Molina Healthcare Inc. | 2025 | Joseph Zubretsky | 1,600,000 | 16,199,988 | 0 | 0 | 18,340,783 |
| 21 | Labcorp Holdings Inc. | 2025 | Adam Schechter | 1,435,000 | 11,400,463 | 2,754,582 | 2,062,095 | 18,339,913 |
| 22 | Cencora, Inc. | 2025 | Robert Mauch | 1,350,000 | 12,000,218 | 0 | 4,283,213 | 18,256,227 |
| 23 | Edwards Lifesciences Corporation | 2025 | Bernard Zovighian | 1,192,500 | 7,167,024 | 6,499,109 | 2,406,537 | 17,454,255 |
| 24 | Becton, Dickinson and Company | 2025 | Thomas Polen | 1,395,463 | 9,991,854 | 3,311,861 | 1,852,010 | 17,129,140 |
| 25 | Zimmer Biomet Holdings, Inc. | 2025 | Ivan Tornos | 1,281,846 | 12,000,101 | 0 | 2,420,767 | 16,106,550 |
| 26 | The Cooper Companies, Inc. | 2025 | Albert White III | 1,170,769 | 6,642,918 | 6,643,050 | 1,525,951 | 16,051,141 |
| 27 | Hologic, Inc. | 2024 | Stephen MacMillan | 1,212,628 | 9,141,468 | 2,937,477 | 1,990,413 | 15,819,261 |
| 28 | Charles River Laboratories International, Inc. | 2025 | James Foster | 1,545,636 | 11,601,089 | 0 | 2,182,666 | 15,435,220 |
| 29 | Agilent Technologies, Inc. | 2025 | Padraig McDonnell | 1,141,345 | 8,169,850 | 2,017,759 | 1,436,809 | 12,827,236 |
| 30 | Steris plc | 2026 | Daniel Carestio | 1,095,707 | 4,333,951 | 4,334,251 | 1,725,007 | 11,508,522 |
| 31 | Teleflex Incorporated | 2025 | Liam Kelly | 1,144,400 | 2,005,604 | 2,886,518 | 227,280 | 6,732,419 |
Each peer’s compensation is from its most recently filed proxy; fiscal years differ by company. Each peer’s figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Incentive design against the same peers
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| CVS Health Corp | 156.5% | PSU 60 · RSU 20 · Options 20 | Yes — rTSR Modifier | Korn Ferry |
| AbbVie Inc. | not disclosed | PSU 40 · PRSU 40 · Option 20 | Yes — Relative TSR | Semler Brossy |
| Agilent Technologies, Inc. | not disclosed | PSU 60 · Option 20 · RSU 20 | No | Semler Brossy |
| Align Technology, Inc. | 58.1% | MSU 70 · RSU 30 | Yes — Relative Total Stockholder Return (TSR) vs. Nasdaq Composite Index | Compensia, Inc. |
| Becton, Dickinson and Company | 85% | PSU 50 · Options 25 · RSU 25 | No | Semler Brossy |
| Bristol-Myers Squibb Company | 157.66% | PSU 60 · MSU 40 | Yes — 3-Year Relative TSR CAGR | Farient Advisors LLC |
| Cardinal Health, Inc. | not disclosed | PSU 60 · RSU 40 | Yes — Relative TSR modifier | Korn Ferry |
| Cencora, Inc. | 181.3% | PSU 60 · RSU 40 | Yes — Relative TSR | Pearl Meyer & Partners |
| Centene Corporation | 71.6% | PSU 60 · RSU 40 | Yes — Relative TSR | FW Cook |
| Charles River Laboratories International, Inc. | 139% | PSU 60 · RSU 40 | Yes — Three-year rTSR | Pay Governance, LLC |
| Danaher Corporation | not disclosed | Options 50 · RSU 50 | Yes — Relative TSR | FW Cook |
| Edwards Lifesciences Corporation | 127% | Options 50 · PSU 25 · RSU 25 | No | Semler Brossy Consulting Group |
| Elevance Health, Inc. | 86.5% | PSU 52 · RSU 24 · Options 24 | No | Willis Towers Watson (WTW) |
| HCA Healthcare, Inc. | 195.78% | SAR 50 · PSU 50 | No | Semler Brossy |
| Hologic, Inc. | 109% | PSU 50 · RSU 25 · Option 25 | No | Pearl Meyer & Partners, LLC |
| Humana Inc. | 112% | PSU 60 · RSU 40 | Yes — Relative TSR | Farient Advisors, LLC |
| International Business Machines Corporation | 150% | not disclosed | Yes — Relative Total Shareholder Return (rTSR) | Semler Brossy |
| Iqvia Holdings Inc. | not disclosed | PSU 75 · Options 25 | Yes | Meridian Compensation Partners, LLC |
| Johnson & Johnson | not disclosed | not disclosed | Yes — Relative TSR | Semler Brossy Consulting Group |
| Labcorp Holdings Inc. | 95.8% | PSU 60 · RSU 20 · Options 20 | Yes — RELATIVE TSR MODIFIER | FW Cook |
| McKesson Corporation | 140% | PSU 60 · RSU 40 | Yes — Total Shareholder Return (TSR) relative to comparator group | Korn Ferry |
| Merck & Co., Inc. | 94% | PSU 60 · RSU 20 · Options 20 | Yes — Relative Total Shareholder Return (R-TSR) | FW Cook |
| Microsoft Corporation | not disclosed | PSU 100 · RSU 50 | not disclosed | Pay Governance |
| Molina Healthcare Inc. | not disclosed | PSU 60 · RSU 40 | No | FW Cook |
| Pfizer Inc. | 150% | PSU 50 · MSU 50 | Yes — relative TSR as compared to the NYSE Arca Pharmaceutical Index (DRG Index or DRG) | Meridian Compensation Partners, LLC |
| Steris plc | 125.1% | Option 50 · Restricted Stock 50 | not disclosed | Frederic W. Cook & Co., Inc. |
| Teleflex Incorporated | 25.9% | Options 55 · RSU 25 · PSU 20 | Yes — Absolute TSR | FW Cook |
| The Cigna Group | 100% | PSU 60 · RSU 20 · Options 20 | No | Pay Governance |
| The Cooper Companies, Inc. | 100.9% | Options 50 · PSU 50 | No | Compensia |
| Thermo Fisher Scientific Inc. | 99.8% | PSU 50 · Options 50 | Yes — Relative TSR | Pearl Meyer |
| Zimmer Biomet Holdings, Inc. | 125.9% | RSU 50 · PSU 50 | Yes — Relative TSR | Semler Brossy |
Read from each company’s Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company’s filing does not state the item.
Say-on-pay history and pay ratio
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-14 | 976,252,194 | 59,088,923 | 3,377,357 | 93.99% | Passed |
| 2025 | 2025-05-15 | 597,945,237 | 413,324,138 | 2,753,876 | 59.13% | Passed |
| 2024 | 2024-05-16 | 818,001,447 | 139,313,232 | 3,692,720 | 85.45% | Passed |
| 2023 | 2023-05-18 | 745,115,461 | 185,740,147 | 4,744,214 | 80.05% | Passed |
| 2022 | 2022-05-11 | 903,024,507 | 80,791,141 | 3,635,231 | 91.79% | Passed |
| 2021 | 2021-05-13 | 851,824,270 | 91,423,549 | 3,741,911 | 90.31% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year’s compensation.
Say-on-pay — history, company’s computation
| Meeting year | Meeting date | Approval — company’s computation |
|---|---|---|
| 2026 | 2026-05-14 | 93.99%a |
| 2025 | 2025-05-15 | 59.13%b |
| 2024 | 2024-05-16 | 85.45%c |
a. Approved under the standard stated in the filing — “Abstentions are counted as shares present or represented and voting and have the effect of a vote against.”.
b. Approved under the standard stated in the filing — “Votes "against" a director's election will count as votes cast, but "abstentions" and "broker non-votes" will not count as votes cast with respect to that director's election and will have no effect on the vote.”.
c. Approved under the standard stated in the filing — “Votes "against" a director's election will count as votes cast, but "abstentions" and "broker non-votes" will not count as votes cast with respect to that director's election and will have no effect.”.
Approval percentages are the company’s own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
CEO pay ratio
| Ratio (CEO : median employee) | 336 : 1 |
|---|---|
| CEO total compensation | $21,232,392 |
| Median employee compensation | $63,262 |
Insider trades since the proxy
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Tilak Mandadi | EVP, Chief Exp & Tech Officer | 2026-05-08 | D | 69,551 | $90 | $6,230,379 | Common | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-14 | A | 1,930.01 | 97 | 187,500 | Derivative, Class A Common | Form 4 ↗ |
| Leslie V. Norwalk | Director | 2026-05-14 | A | 1,447 | 97 | 140,576 | Common | Form 4 ↗ |
| J. Scott Kirby | Director | 2026-05-14 | A | 1,447 | 97 | 140,576 | Common | Form 4 ↗ |
| Jeffrey R. Balser | Director | 2026-05-14 | A | 2,058 | 97 | 199,935 | Common | Form 4 ↗ |
| Fernando Aguirre | Director | 2026-05-14 | A | 1,563 | 97 | 151,845 | Common | Form 4 ↗ |
| John E. Gallina | Director | 2026-05-14 | A | 1,447.5 | 97 | 140,625 | Derivative, Class A Common | Form 4 ↗ |
| Guy P. Sansone | Director | 2026-05-14 | A | 1,447 | 97 | 140,576 | Common | Form 4 ↗ |
| Anne M. Finucane | Director | 2026-05-14 | A | 1,544 | 97 | 150,000 | Derivative, Class A Common | Form 4 ↗ |
| Michael F. Mahoney | Director | 2026-05-14 | A | 1,737 | 97 | 168,750 | Derivative, Class A Common | Form 4 ↗ |
| C. David Brown II | Director | 2026-05-14 | A | 1,544 | 97 | 150,000 | Common | Form 4 ↗ |
| Douglas H. Shulman | Director | 2026-05-14 | A | 1,447.5 | 97 | 140,625 | Derivative, Class A Common | Form 4 ↗ |
| Alecia A. DeCoudreaux | Director | 2026-05-14 | A | 1,447.5 | 97 | 140,625 | Derivative, Class A Common | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-19 | D | 1,983,387 | 94 | 187,326,935 | Common, indirect | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-19 | D | 151 | 95 | 14,372 | Common, indirect | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-20 | D | 800 | 96 | 77,026 | Common, indirect | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-20 | D | 66,881 | 96 | 6,398,204 | Common, indirect | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-20 | D | 152,691 | 95 | 14,476,038 | Common, indirect | Form 4 ↗ |
| Fernando Aguirre | Director | 2026-05-20 | D | 30,437 | 94 | 2,854,230 | Common | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-20 | D | 797,628 | 93 | 74,559,554 | Common, indirect | Form 4 ↗ |
| Fernando Aguirre | Director | 2026-05-21 | D | 1,563 | 94 | 146,142 | Common | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-21 | D | 370,462 | 93 | 34,619,007 | Common, indirect | Form 4 ↗ |
| Larry M. Robbins | Director | 2026-05-21 | D | 378,000 | 93 | 35,271,558 | Derivative, Class A Common | Form 4 ↗ |
| Brian Newman | EVP, Chief Financial Officer | 2026-05-31 | D | 2,478 | 91 | 225,448 | Common | Form 4 ↗ |
| Amy Compton-Phillips | EVP, Chief Medical Officer | 2026-05-31 | D | 7,618 | 91 | 693,086 | Common | Form 4 ↗ |
| James David Clark | SVP, Cont & Chief Acct Officer | 2026-06-26 | D | 454 | 91 | 41,305 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
Sources (110 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, J. David Joyner. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 21,214,084. View filing ↗
- Section 01, Prem Shah. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 13,379,210. View filing ↗
- Section 01, Steven Nelson. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 11,587,110. View filing ↗
- Section 01, Tilak Mandadi. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 10,977,716. View filing ↗
- Section 01, Brian Newman. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 9,420,508. View filing ↗
- Section 01, Thomas Cowhey. DEF 14A, filed 2026-04-03. Section “Summary Compensation Table” · page 77. As printed: 6,715,138. View filing ↗
- Section 03, Prem Shah PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Nelson PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Tilak Mandadi PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Tilak Mandadi RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Tilak Mandadi OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Prem Shah OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Cowhey OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, J. David Joyner RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Cowhey PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, J. David Joyner PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Prem Shah RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Newman OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Newman RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Nelson OPTION. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Steven Nelson RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Brian Newman PSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Thomas Cowhey RSU. DEF 14A, filed 2026-04-03. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-03. Section “CEO Pay Ratio”. As printed: 336 : 1. View filing ↗
- Section 08, Michael F. Mahoney. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 421,667. View filing ↗
- Section 08, Fernando Aguirre. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 365,000. View filing ↗
- Section 08, C. David Brown II. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 360,000. View filing ↗
- Section 08, Jeffrey R. Balser. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 360,000. View filing ↗
- Section 08, Anne M. Finucane. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 347,500. View filing ↗
- Section 08, Douglas H. Shulman. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, Guy P. Sansone. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, Alecia A. DeCoudreaux. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, Larry M. Robbins. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, J. Scott Kirby. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, Leslie V. Norwalk. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 335,000. View filing ↗
- Section 08, J. David Joyner. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Mary L. Schapiro. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Nancy-Ann M. DeParle. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Jean-Pierre Millon. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 08, Roger N. Farah. DEF 14A, filed 2026-04-03. Section “Director Compensation”. As printed: 0. View filing ↗
- Section 02, Tilak Mandadi 2026-05-08. Form 4, filed 2026-05-11. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Leslie V. Norwalk 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, J. Scott Kirby 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Jeffrey R. Balser 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Fernando Aguirre 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, John E. Gallina 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Guy P. Sansone 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Anne M. Finucane 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Michael F. Mahoney 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, C. David Brown II 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Douglas H. Shulman 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Alecia A. DeCoudreaux 2026-05-14. Form 4, filed 2026-05-15. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-19. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-19. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Fernando Aguirre 2026-05-20. Form 4, filed 2026-05-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-20. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Fernando Aguirre 2026-05-21. Form 4, filed 2026-05-22. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-21. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Larry M. Robbins 2026-05-21. Form 4, filed 2026-05-21. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Brian Newman 2026-05-31. Form 4, filed 2026-06-01. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, Amy Compton-Phillips 2026-05-31. Form 4, filed 2026-06-01. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 02, James David Clark 2026-06-26. Form 4, filed 2026-06-29. Insider equity transaction reported since the proxy statement. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-05-18. Item 5.07 · say-on-pay result. As reported: 93.99% (votes for as printed: 976,252,194). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-05-20. Item 5.07 · say-on-pay result. As reported: 59.13% (votes for as printed: 597,945,237). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-05-22. Item 5.07 · say-on-pay result. As reported: 85.45% (votes for as printed: 818,001,447). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 966,411 + equity 2,897,756 + all other 0 = 3,864,167, summed across the director compensation table rows.
- Microsoft Corporation, Section 10b CEO total. DEF 14A, filed 2026-10-21. CEO total compensation as printed in Microsoft Corporation's own proxy. As printed: 90,628,977. View filing ↗
- Thermo Fisher Scientific Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Thermo Fisher Scientific Inc.'s own proxy. As printed: 79,923,350. View filing ↗
- International Business Machines Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-10. CEO total compensation as printed in International Business Machines Corporation's own proxy. As printed: 37,989,685. View filing ↗
- Johnson & Johnson, Section 10b CEO total. DEF 14A, filed 2026-03-11. CEO total compensation as printed in Johnson & Johnson's own proxy. As printed: 32,758,111. View filing ↗
- AbbVie Inc., Section 10b CEO total. DEF 14A, filed 2026-03-23. CEO total compensation as printed in AbbVie Inc.'s own proxy. As printed: 32,530,984. View filing ↗
- Iqvia Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-02-27. CEO total compensation as printed in Iqvia Holdings Inc.'s own proxy. As printed: 28,128,245. View filing ↗
- Pfizer Inc., Section 10b CEO total. DEF 14A, filed 2026-03-12. CEO total compensation as printed in Pfizer Inc.'s own proxy. As printed: 27,585,301. View filing ↗
- HCA Healthcare, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in HCA Healthcare, Inc.'s own proxy. As printed: 26,456,606. View filing ↗
- McKesson Corporation, Section 10b CEO total. DEF 14A, filed 2026-06-12. CEO total compensation as printed in McKesson Corporation's own proxy. As printed: 24,213,044. View filing ↗
- Danaher Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Danaher Corporation's own proxy. As printed: 23,795,280. View filing ↗
- The Cigna Group, Section 10b CEO total. DEF 14A, filed 2026-03-13. CEO total compensation as printed in The Cigna Group's own proxy. As printed: 22,866,134. View filing ↗
- Elevance Health, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-27. CEO total compensation as printed in Elevance Health, Inc.'s own proxy. As printed: 22,582,314. View filing ↗
- Cardinal Health, Inc., Section 10b CEO total. DEF 14A, filed 2026-09-21. CEO total compensation as printed in Cardinal Health, Inc.'s own proxy. As printed: 22,574,349. View filing ↗
- Bristol-Myers Squibb Company, Section 10b CEO total. DEF 14A, filed 2026-03-25. CEO total compensation as printed in Bristol-Myers Squibb Company's own proxy. As printed: 21,879,919. View filing ↗
- CVS Health Corp (subject), Section 10b CEO total. DEF 14A, filed 2026-04-03. CEO total compensation as printed in CVS Health Corp's own proxy. As printed: 21,214,084. View filing ↗
- Merck & Co., Inc., Section 10b CEO total. DEF 14A, filed 2026-04-08. CEO total compensation as printed in Merck & Co., Inc.'s own proxy. As printed: 20,797,845. View filing ↗
- Centene Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Centene Corporation's own proxy. As printed: 19,506,298. View filing ↗
- Align Technology, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-07. CEO total compensation as printed in Align Technology, Inc.'s own proxy. As printed: 19,193,988. View filing ↗
- Humana Inc., Section 10b CEO total. DEFR 14A, filed 2026-03-06. CEO total compensation as printed in Humana Inc.'s own proxy. As printed: 18,757,075. View filing ↗
- Molina Healthcare Inc., Section 10b CEO total. DEF 14A, filed 2026-03-23. CEO total compensation as printed in Molina Healthcare Inc.'s own proxy. As printed: 18,340,783. View filing ↗
- Labcorp Holdings Inc., Section 10b CEO total. DEF 14A, filed 2026-04-10. CEO total compensation as printed in Labcorp Holdings Inc.'s own proxy. As printed: 18,339,913. View filing ↗
- Cencora, Inc., Section 10b CEO total. DEF 14A, filed 2026-01-22. CEO total compensation as printed in Cencora, Inc.'s own proxy. As printed: 18,256,227. View filing ↗
- Edwards Lifesciences Corporation, Section 10b CEO total. DEF 14A, filed 2026-03-26. CEO total compensation as printed in Edwards Lifesciences Corporation's own proxy. As printed: 17,454,255. View filing ↗
- Becton, Dickinson and Company, Section 10b CEO total. DEF 14A, filed 2025-12-18. CEO total compensation as printed in Becton, Dickinson and Company's own proxy. As printed: 17,129,140. View filing ↗
- Zimmer Biomet Holdings, Inc., Section 10b CEO total. DEF 14A, filed 2026-04-01. CEO total compensation as printed in Zimmer Biomet Holdings, Inc.'s own proxy. As printed: 16,106,550. View filing ↗
- The Cooper Companies, Inc., Section 10b CEO total. DEF 14A, filed 2026-02-24. CEO total compensation as printed in The Cooper Companies, Inc.'s own proxy. As printed: 16,051,141. View filing ↗
- Hologic, Inc., Section 10b CEO total. DEF 14A, filed 2025-01-16. CEO total compensation as printed in Hologic, Inc.'s own proxy. As printed: 15,819,261. View filing ↗
- Charles River Laboratories International, Inc., Section 10b CEO total. DEF 14A, filed 2026-03-31. CEO total compensation as printed in Charles River Laboratories International, Inc.'s own proxy. As printed: 15,435,220. View filing ↗
- Agilent Technologies, Inc., Section 10b CEO total. DEF 14A, filed 2026-02-06. CEO total compensation as printed in Agilent Technologies, Inc.'s own proxy. As printed: 12,827,236. View filing ↗
- Steris plc, Section 10b CEO total. DEF 14A, filed 2026-06-11. CEO total compensation as printed in Steris plc's own proxy. As printed: 11,508,522. View filing ↗
- Teleflex Incorporated, Section 10b CEO total. DEF 14A, filed 2026-04-13. CEO total compensation as printed in Teleflex Incorporated's own proxy. As printed: 6,732,419. View filing ↗
- Section 10a, Cardinal Health, Inc. reciprocity. DEF 14A. Cardinal Health, Inc. names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Cencora, Inc. reciprocity. DEF 14A. Cencora, Inc. names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Centene Corporation reciprocity. DEF 14A. Centene Corporation names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, The Cigna Group reciprocity. DEF 14A. The Cigna Group names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Elevance Health, Inc. reciprocity. DEF 14A. Elevance Health, Inc. names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, HCA Healthcare, Inc. reciprocity. DEF 14A. HCA Healthcare, Inc. names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗
- Section 10a, Humana Inc. reciprocity. DEF 14A. Humana Inc. names CVS Health Corp in its own disclosed peer group (read from its most recent proxy). View filing ↗