Statement of Changes in Beneficial Ownership (4)

FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* MERLO LARRY J	2. Issuer Name and Ticker or Trading Symbol CVS HEALTH Corp [ CVS ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President and CEO
(Last) (First) (Middle) ONE CVS DRIVE	3. Date of Earliest Transaction (MM/DD/YYYY) 1/15/2020
(Street) WOONSOCKET, RI 02895- (City) (State) (Zip)	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	1/15/2020		M		314713	A	$54.53	703496.9407	D
Common Stock	1/15/2020		S⁽¹⁾		266476	D	$74.79 ⁽²⁾	437020.9407	D
Common Stock								391070.4564	I	By Trust As Beneficiary
Common Stock (restricted)								81879	D
ESOP Common Stock								7208.3869	I	By ESOP
Stock Unit								665529.4676	D

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option	$54.53	1/15/2020		M			314713	4/1/2014 ⁽³⁾	4/1/2020	Common Stock	314713	$0	0	D
Phantom Stock Credits	$1.00 ⁽⁴⁾							⁽⁵⁾	⁽⁶⁾	Common Stock	5158.5846		5158.5846	D
Stock Option	$74.29							4/1/2015 ⁽⁷⁾	4/1/2021	Common Stock	335697		335697	D
Stock Option	$102.26							4/1/2016 ⁽⁸⁾	4/1/2022	Common Stock	273929		273929	D
Stock Option	$104.82							4/1/2017 ⁽⁹⁾	4/1/2023	Common Stock	286787		286787	D
Stock Option	$78.05							4/3/2018 ⁽¹⁰⁾	4/3/2024	Common Stock	338105		338105	D
Stock Option	$62.21							4/1/2019 ⁽¹¹⁾	4/1/2025	Common Stock	394091		394091	D
Stock Option	$54.19							4/1/2020 ⁽¹²⁾	4/1/2029	Common Stock	545419		545419	D

Explanation of Responses:
(1)	All sales were effected pursuant to a Rule 10b5-1 plan. The transaction was a sell-to-cover exercise, with shares sold to cover the option exercise price and taxes, and the Reporting Person retaining all remaining shares.
(2)	Represents weighted average sale price for this group of sales, which occurred on the same trading day. Multiple sales were executed, with sales prices ranging between $73.99 and $75.55 per share.
(3)	Option became exercisable in four equal annual installments, commencing 4/1/2014.
(4)	Each share credit is equivalent to one share; 1-for-1 conversion.
(5)	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.
(6)	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.
(7)	Option became exercisable in four equal annual installments, commencing 4/1/2015.
(8)	Option became exercisable in four equal annual installments, commencing 4/1/2016.
(9)	Option became exercisable in four equal annual installments, commencing 4/1/2017.
(10)	Option became exercisable in four equal annual installments, commencing 4/3/2018.
(11)	Option became exercisable in four equal annual installments, commencing 4/1/2019.
(12)	Option becomes exercisable in four equal annual installments, commencing 4/1/2020.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
MERLO LARRY J ONE CVS DRIVE WOONSOCKET, RI 02895-	X		President and CEO