X0306 4 2017-07-01 0000813828 CBS CORP CBS, CBS.A 0001198866 CALIFANO JOSEPH A 51 WEST 52ND STREET NEW YORK NY 10019 1 Phantom Class A Common Stock Units 2017-07-01 4 A 0 14.0000 64.8100 A CBS Class A common stock 14.0000 3196.0000 D Phantom Class B Common Stock Units 2017-07-01 4 A 0 15.0000 63.7800 A CBS Class B common stock 15.0000 3223.0000 D Reporting Person has elected to defer payment of Board/Committee fees, as applicable, pursuant to the Issuer's deferred compensation arrangement for directors. The relevant deferred amounts (including any cash dividends credited during the previous quarter) are deemed invested quarterly in the number of Phantom Common Stock Units equal to the number of shares of Class A and Class B Common Stock that such amounts would have purchased when converted. Phantom Common Stock Units are paid out after the Director's retirement from the Board and are settled in cash. /s/ Jonathan H. Anschell, Attorney-in-fact 2017-07-05