CHEMED CORP — Director's Dealing 2026

Feb 17, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CHEMED CORP (CHE)
CIK: 0000019584
Period of Report: 2026-02-13

Reporting Person: Judkins Brian C (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-13	Capital Stock	M	351	$469.56	Acquired	2538	Direct
2026-02-13	Capital Stock	M	0	$469.56	Acquired	2538	Direct
2026-02-13	Capital Stock	F	102	$469.56	Disposed	2436	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-02-13	Performance Stock Units	$	M	283	Disposed		Capital Stock (283)	Direct
2026-02-13	Performance Stock Units	$	M	283	Disposed		Capital Stock (283)	Direct
2026-02-13	Performance Stock Units	$	A	908	Acquired		Capital Stock (908)	Direct

Footnotes

F1: The number of performance stock units ("PSUs") that vested was based on the Company's cumulative adjusted earnings per share for the period January 1, 2023 through December 31, 2025. The actual performance of $67.67 exceeded the maximum payout threshold of $66.46 and therefore yielded an award of 123% of target; including the reinvestment of dividends paid during such period, the award is 124.1% of target.

F2: The number of PSUs that vested was based on the Company's achieving relative total shareholder returns for the period January 1, 2023 through December 31, 2025, compared to a defined peer group of companies. The Company's performance ranked in the 7th percentile of that group, yielding an award of 0%; including the reinvestment of dividends paid during such period, the award is 0% of target.

F3: Shares withheld to satisfy tax obligations in connection with vesting of PSUs.

F4: Each PSU reflects the contingent right to receive a variable number of shares of capital stock based on achieving performance goals. PSUs were settled in shares on their scheduled vesting date as determined by the Compensation Committee.

F5: PSUs awarded February 17, 2023 vest based on achievement of performance targets over a period of January 1, 2023 to December 31, 2025. The determination of the performance level is to be made by March 15, 2026.

F6: Each performance stock unit represents a contingent right to receive one share of Chemed Capital Stock

F7: Performance stock units vest based on the extent to which the Company achieves certain performance targets over a performance period of January 1, 2026 to December 31, 2028. The determination of the performance level is to be made by March 15, 2029 and earned shares to be delivered thereafter.