secwatch.observer — SEC 8-K summary
======================================

Issuer:     CVS HEALTH Corp (CVS)
CIK:        0000064803
Form:       8-K
Filed at:   2024-11-18T23:59:59+00:00
Accession:  0001193125-24-260405
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CVS Health adds four directors, enters pact with Glenview Capital; CEO pay raised
--------------------------------------------------------------------------------

- Board expanded from 12 to 16 with appointments of Leslie Norwalk, Larry Robbins, Guy Sansone, Doug Shulman.
- Glenview Capital (Larry Robbins) gets board seats; standstill until 30 days before 2026 director nomination window.
- CEO David Joyner's total direct compensation raised to $19M/yr ($1.5M base, $3M bonus target, $14.5M LTI).
- Prem Shah (EVP Group President) gets $1.1M base, $1.925M bonus target, $9M LTI; one-time option award $6M.
- Tilak Mandadi receives $3M in time-vesting RSUs as retention award; vests over three years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/64803/000119312524260405/0001193125-24-260405-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/64803/000119312524260405/d828431d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-260405

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer