CHEMED CORP — Director's Dealing 2007

May 22, 2007

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEMED CORP (CHE)
CIK: 0000019584
Period of Report: 2007-05-21

Reporting Person: MCNAMARA KEVIN J (Director, president and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2007-05-21	capital stock	A	400	$67.95	Acquired	176567	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2007-05-21	stock option(right to buy with tandem tax withholding)	$67.95	A	100000	Acquired	2017-05-21	capital stock (100000)	Direct

Footnotes

F1: award of stock

F2: exercisable in three equal annual installments commencing 5/21/2008.