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CVS » Topics » Option Exercises and Stock Vested - Fiscal Year 2006

This excerpt taken from the CVS DEF 14A filed Apr 4, 2007.

Option Exercises and Stock Vested – Fiscal Year 2006

 

Name & Principal 2006 Positions    Option Awards    Stock Awards
   Number of
Shares Acquired
on Exercise(1)
(#)		    Value
Realized on
Exercise(1)
($)		    Number of
Shares Acquired
on Vesting(2)
(#)		    Value Realized
on Vesting(2)
($)

Thomas M. Ryan

Chairman of the Board, President and Chief Executive Officer

    782,640    14,640,064    82,440    2,394,058
   

David B. Rickard

Executive Vice President, Chief Financial Officer and Chief Administrative Officer

    0    0    13,974    405,805
   

Larry J. Merlo

Executive Vice President - Stores

    200,920    3,725,057    13,974    405,805
   

Chris W. Bodine

Executive Vice President - Merchandising and Marketing

    0    0    13,974    405,805
   

Douglas A. Sgarro

Executive Vice President - Strategy and Chief Legal Officer; President, CVS Realty Co.

    0    0    11,180    324,667

 

  (1) Mr. Ryan exercised 782,640 options during a ten-day period between December 6, 2006 and December 19, 2006 pursuant to a 10b-5(1) selling plan, selling 522,000 shares to cover acquisition costs and all applicable tax withholdings and retaining 260,640 shares; his average sales price during that period was $30.249 per share. Mr. Merlo exercised 200,920 options on December 6, 2006, also pursuant to a 10b-5(1) selling plan, selling 131,486 shares to cover acquisition costs and all applicable tax withholdings and retaining 69,434 shares. His sales price was $29.7577 per share. The stock options exercised by both Mr. Ryan and Mr. Merlo were due to expire on February 17, 2007.

 

  (2) For Mr. Ryan, consists of 82,440 shares vested and deferred on February 16, 2006, in connection with the 2003 LTIP Replacement Plan award granted on February 16, 2004, with a fair market value of $2,394,058. For Messrs. Rickard, Merlo and Bodine, consists of 13,974 shares vested and deferred on February 16, 2006, in connection with the 2003 LTIP Replacement Plan award granted on February 16, 2004, with a fair market value of $405,805. For Mr. Sgarro, consists of 11,180 shares vested and deferred on February 16, 2006, in connection with the 2003 LTIP Replacement award granted on February 16, 2004, with a fair market value of $324,667. Fair market value of awards granted on February 16, 2004 is $29.04, which is the average of the high and low sales prices on the vesting and deferral date of February 16, 2006.

 

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