CVS CEO to Exercise Options
WOONSOCKET, R.I., Dec 21, 2007 (BUSINESS WIRE) -- CVS Caremark Corporation (NYSE: CVS) today announced that Tom Ryan, Chairman of the Board, President and Chief Executive Officer has initiated a 10b5-1 plan for pre-planned sales of stock. Mr. Ryan's plan calls for the exercise of 1,500,000 soon-to-expire options to buy CVS Caremark shares. The exercise of the options and sale of the resulting stock are expected to take place during 2008.
As listed in the company's proxy for its 2007 annual meeting of stockholders, Mr. Ryan beneficially owned approximately 8.1 million CVS Caremark shares as of March 30, 2007, and since that time has exercised 391,320 options and sold the resulting shares. The shares being sold under the 10b5-1 plan represent less than 20% of Mr. Ryan's total holdings. They are being sold for tax and estate planning reasons.
CVS Caremark is the largest provider of prescriptions in the nation. The Company fills or manages more than 1 billion prescriptions annually. Through its unmatched breadth of service offerings, CVS Caremark is transforming the delivery of healthcare services in the U.S. The Company is uniquely positioned to effectively manage costs and improve healthcare outcomes through its more than 6,900 CVS/pharmacy stores; its Caremark Pharmacy Services division (pharmacy benefit management, mail order and specialty pharmacy); its retail-based health clinic subsidiary, MinuteClinic; and its online pharmacy, CVS.com. General information about CVS Caremark is available through the Investor Relations section of the Company's website, at http://investor.cvs.com, as well as through the newsroom section of the Company's website, at www.cvscaremark.com/newsroom.
CVS Caremark Corporation
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Eileen Howard Dunn, 401-770-4561
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