CVS Health (CVS) executive compensation, 2026 proxy

J. David Joyner, President and Chief Executive Officer, was paid $21.2M in 2025, up 19% from $17.8M the year before. The CEO-to-median-employee pay ratio was 336:1, on median employee pay of $63,262.

Filed
April 3, 2026
Annual meeting
May 14, 2026
Pay year
2025
Named executives
6
CEO total pay
$21.2M+19% vs prior year
CEO to median employee
336:1median $63,262
CEO pay in equity
68%$14.5M in awards
Prior say-on-pay support
59%of votes cast
2025 Revenue
$402.1BDelivered across CVS Health operations
Operating Cash Flow
$10.6BGenerated in fiscal 2025
CEO Total Compensation
$21.2MFor fiscal year 2025

How Joyner was paid

$21.2M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary7%Stock awards68%Non-equity incentive22%Pension and deferred comp0%All other compensation2%

Named executive officers

ExecutiveTotal
J. David JoynerPresident and Chief Executive Officer$21,214,084
Brian O. NewmanExecutive Vice President and Chief Financial Officer$9,420,508
Tilak MandadiExecutive Vice President, Ventures and Chief Experience and Technology Officer$10,977,716
Steven H. NelsonExecutive Vice President and President, Aetna$11,587,110
Prem S. ShahExecutive Vice President and Group President$13,379,210
Thomas F. CowheyFormer Executive Vice President and Chief Financial Officer$6,715,138

What changed and why

  • $402.1BCVS Health delivered $402.1 billion in revenue and generated $10.6 billion in operating cash flow during fiscal 2025.
  • $21.2MJ. David Joyner received total compensation of $21,214,084 for fiscal year 2025 in his role as President and CEO.
  • 59%The Management Planning and Development Committee actively engaged with stockholders following a 59% say-on-pay approval vote in 2025.
  • Brian O. Newman joined the Company as Executive Vice President and Chief Financial Officer on April 21, 2025.
  • $583KThomas F. Cowhey stepped down as CFO and later terminated employment without cause, receiving $583,333 in separation payments.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.