CHEMED CORP — Director's Dealing 2014

May 15, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEMED CORP (CHE)
CIK: 0000019584
Period of Report: 2014-05-13

Reporting Person: OTOOLE TIMOTHY S (executive vice president)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-13	capital stock	M	20000	$67.96	Acquired	57519	Direct
2014-05-13	capital stock	F	17349	$88.07	Disposed	40170	Direct
2014-05-15	capital stock	S	9000	$87.62	Disposed	31170	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2014-05-13	stock option(right to buy with tandem tax withholding)	$67.96	M	20000	Disposed	2018-05-21	capital stock (20000)	Direct

Footnotes

F1: Payment of purchase price and tax obligation on stock option exercise.

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