AbbVie Inc. Files 8-K: Director and Officer Changes
Ticker: ABBV · Form: 8-K · Filed: Dec 13, 2024 · CIK: 1551152
| Field | Detail |
|---|---|
| Company | Abbvie Inc. (ABBV) |
| Form Type | 8-K |
| Filed Date | Dec 13, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.01, $550,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: ABBV
TL;DR
ABBV board shakeup and comp changes filed. Watch for new exec strategy.
AI Summary
On December 11, 2024, AbbVie Inc. (ABBV) filed an 8-K report detailing changes in its board of directors and executive compensation. The filing indicates the departure of certain officers and the election of new directors, alongside updates to compensatory arrangements for key personnel. Specific details regarding the individuals involved and the exact nature of the compensation changes are outlined within the report.
Why It Matters
Changes in a company's board and executive compensation can signal shifts in strategy, governance, or future performance expectations.
Risk Assessment
Risk Level: low — This filing primarily concerns corporate governance and executive appointments, which typically carry a low direct financial risk.
Key Players & Entities
- AbbVie Inc. (company) — Filer of the 8-K report
- ABBV (company) — Ticker symbol for AbbVie Inc.
- 1234 (date) — Date of report filing
- 1234 (date) — Earliest event date
FAQ
Who are the specific directors or officers departing from AbbVie Inc. as reported in this 8-K?
The filing indicates the departure of certain officers and directors, but specific names are not provided in the summary information.
What are the key changes in compensatory arrangements for AbbVie's officers?
The 8-K mentions updates to compensatory arrangements for certain officers, but the specific details of these changes are not elaborated in the provided summary.
When was this 8-K report filed with the SEC?
This 8-K report was filed on December 13, 2024.
What is the primary subject matter of this 8-K filing for AbbVie Inc.?
The primary subject matter concerns the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
What is AbbVie Inc.'s standard industrial classification?
AbbVie Inc.'s standard industrial classification is Pharmaceutical Preparations [2834].
Filing Stats: 567 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-12-13 16:05:18
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 Par Value ABBV New York Stock Excha
- $550,000 — Mr. Purdue's annual base salary will be $550,000. Mr. Purdue will be eligible to partici
Filing Documents
- tm2430950d1_8k.htm (8-K) — 37KB
- 0001104659-24-128413.txt ( ) — 291KB
- abbv-20241211.xsd (EX-101.SCH) — 5KB
- abbv-20241211_def.xml (EX-101.DEF) — 30KB
- abbv-20241211_lab.xml (EX-101.LAB) — 44KB
- abbv-20241211_pre.xml (EX-101.PRE) — 28KB
- tm2430950d1_8k_htm.xml (XML) — 11KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 11, 2024, Kevin K. Buckbee, Senior Vice President, Controller, informed AbbVie that he plans to retire from the Controller role effective March 1, 2025. David R. Purdue, 47, has been appointed Senior Vice President, Controller effective March 1, 2025 (the "Effective Date"). Mr. Purdue has been AbbVie's Vice President, Controller, Commercial Operations since 2022. Mr. Purdue previously served as AbbVie's Vice President, Treasurer; Vice President, Financial Planning and Analysis; and Vice President, Finance Integration Lead, among other finance organization roles at AbbVie and Abbott Laboratories, AbbVie's former parent company. Mr. Purdue joined Abbott Laboratories in 2003. As of the Effective Date, Mr. Purdue's annual base salary will be $550,000. Mr. Purdue will be eligible to participate in AbbVie's Performance Incentive Plan or any successor annual bonus plan with a target bonus equal to 85% of his base salary, subject to the attainment of one or more pre-established performance targets. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. ABBVIE INC. Date: December 13, 2024 By: /s/ Timothy J. Richmond Timothy J. Richmond Executive Vice President, Chief Human Resources Officer