CVS HEALTH Corp — Director's Dealing 2016

May 6, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CVS HEALTH Corp (CVS)
CIK: 0000064803
Period of Report: 2016-05-05

Reporting Person: MERLO LARRY J (Director, President and CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-05-05	Common Stock	M	38247	$36.23	Acquired	280380.8769	Direct
2016-05-05	Common Stock	S	38247	$105.00	Disposed	242133.8769	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-05-05	Stock Option	$36.23	M	38247	Disposed	2017-04-01	Common Stock (38247)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	353291.2805	Indirect
Common Stock (restricted)	209398	Direct
ESOP Common Stock	6513.2703	Indirect
Stock Unit	595371.469	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Phantom Stock Credits	$1.00		Common Stock (5131.08)	5131.08	Direct
Stock Option	$34.96	2018-04-01	Common Stock (241150)	241150	Direct
Stock Option	$45.07	2019-04-02	Common Stock (332736)	332736	Direct
Stock Option	$54.53	2020-04-01	Common Stock (314713)	314713	Direct
Stock Option	$74.29	2021-04-01	Common Stock (335697)	335697	Direct
Stock Option	$102.26	2022-04-01	Common Stock (273929)	273929	Direct
Stock Option	$104.82	2023-04-01	Common Stock (286787)	286787	Direct

Footnotes

F1: All sales were effected pursuant to a Rule 10b5-1 plan.

F2: Option became exercisable in three equal annual installments, commencing 4/1/2011.

F3: Each share credit is equivalent to one share; 1-for-1 conversion.

F4: Reflects year end company match share credits under a non-qualified deferred compensation plan; share credits are payable in cash only, at such time as has been elected by the reporting person.

F5: Reflects year end company match share credits under a non-qualified deferred compensation plan; share credits are payable in cash only, at such time as has been elected by the reporting person.

F6: Option became exercisable in four equal annual installments, commencing 4/1/2012.

F7: Option became exercisable in four equal annual installments, commencing 4/2/2013.

F8: Option became exercisable in four equal annual installments, commencing 4/1/2014.

F9: Option became exercisable in four equal annual installments, commencing 4/1/2015.

F10: Option became exercisable in four equal annual installments, commencing 4/1/2016.

F11: Option becomes exercisable in four equal annual installments, commencing 4/1/2017.