CVS CEO to Exercise Options.WOONSOCKET, R.I. -- CVS Caremark Corporation CVS Caremark Corporation, NYSE: CVS is an integrated pharmacy services provider, combining one of the U.S.'s leading pharmaceutical services companies with the country’s largest pharmacy chain. (NYSE NYSE See: New York Stock Exchange : CVS (1) (Concurrent Versions System) A version control system for Unix that was initially developed as a series of shell scripts in the mid-1980s. CVS maintains the changes between one source code version and another and stores all the changes in one file. ) today announced that Tom Ryan, Chairman of the Board, President and Chief Executive Officer has initiated a 10b5-1 plan for pre-planned sales of stock. Mr. Ryan's plan calls for the exercise of 1,500,000 soon-to-expire options to buy CVS Caremark shares. The exercise of the options and sale of the resulting stock are expected to take place during 2008. As listed in the company's proxy for its 2007 annual meeting of stockholders, Mr. Ryan beneficially owned approximately 8.1 million CVS Caremark shares as of March 30, 2007, and since that time has exercised 391,320 options and sold the resulting shares. The shares being sold under the 10b5-1 plan represent less than 20% of Mr. Ryan's total holdings. They are being sold for tax and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the reasons. About CVS Caremark CVS Caremark is the largest provider of prescriptions and related health care services in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of health care services in the U.S. The Company is uniquely positioned to effectively manage costs and improve health care outcomes through its more than 6,200 CVS/pharmacy stores; its pharmacy benefit management A Pharmacy Benefit Manager (PBM) is a third party administrator of prescription drug programs. They are primarily responsible for processing and paying prescription drug claims. , mail order and specialty pharmacy division, Caremark Pharmacy Services; its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investor Relations Investor relations The process by which the corporation communicates with its investors. portion of the Company's website, at http://investor.cvs.com, as well as through the pressroom portion of the Company's website, at www.cvs.com/pressroom. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion