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(State or other jurisdiction of incorporation or organization)
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(Commission File Number)
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(I.R.S Employer Identification No.)
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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Dr. Boerner will receive an annual base salary of $1,500,000.
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Dr. Boerner will continue to be eligible to participate in the Company’s Senior Executive Performance Incentive Plan or any successor annual bonus plan with a target bonus opportunity equal to 150%
of his base salary, subject to the attainment of one or more pre-established corporate-wide performance goals.
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Dr. Boerner will also be awarded additional 2023 long-term incentive awards valued at $1,600,000, which will be granted 60% in the form of performance share units ($960,000) and 40% as market share
units ($640,000). The terms and conditions of the new awards will be substantially similar to the Company’s standard form of award agreements under the Company’s 2021 Stock Award and Incentive Plan. This is in addition to the annual
long-term incentive awards that were granted to Dr. Boerner on March 10, 2023, in his role as Chief Commercialization Officer.
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Dr. Caforio’s annual salary and bonus opportunity will remain unchanged during the transition period.
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Dr. Caforio will not be granted an annual long-term incentive award on March 10, 2024, nor will he receive any further long-term incentive awards in connection with his role as Executive Chairman.
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BRISTOL-MYERS SQUIBB COMPANY
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Dated: October 31, 2023
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By:
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/s/ Kimberly M. Jablonski
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Name:
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Kimberly M. Jablonski
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Title:
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Corporate Secretary
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