Boston Scientific Appoints New CFO, Announces Compensation

TL;DR

BSX names Todd Small new CFO, starting Aug 5th. He gets $650k salary + $3M in stock.

AI Summary

Boston Scientific Corporation announced on July 30, 2024, the appointment of Todd W. Small as Executive Vice President and Chief Financial Officer, effective August 5, 2024. Small will receive an annual base salary of $650,000 and is eligible for a target annual incentive award of 100% of his base salary. He will also receive a one-time grant of restricted stock units valued at $3,000,000, vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy.

Risk Assessment

Risk Level: medium — Changes in key executive positions, especially the CFO, can introduce uncertainty regarding future financial strategies and performance.

Key Numbers

• $650,000 — New CFO Base Salary (Todd W. Small's annual base salary starting August 5, 2024.)
• $3,000,000 — New CFO Stock Grant (Value of the one-time restricted stock unit grant for Todd W. Small.)
• 100% — New CFO Incentive Target (Todd W. Small's target annual incentive award as a percentage of his base salary.)

Key Players & Entities

• Boston Scientific Corporation (company) — Registrant
• Todd W. Small (person) — Appointed Executive Vice President and Chief Financial Officer
• $650,000 (dollar_amount) — Annual base salary for Todd W. Small
• 100% (dollar_amount) — Target annual incentive award percentage for Todd W. Small
• $3,000,000 (dollar_amount) — Value of one-time restricted stock unit grant for Todd W. Small
• August 5, 2024 (date) — Effective date of Todd W. Small's appointment
• July 30, 2024 (date) — Date of the report

FAQ

From the Filing

0000885725-24-000063.txt : 20240730 0000885725-24-000063.hdr.sgml : 20240730 20240730161824 ACCESSION NUMBER: 0000885725-24-000063 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240730 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240730 DATE AS OF CHANGE: 20240730 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BOSTON SCIENTIFIC CORP CENTRAL INDEX KEY: 0000885725 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 042695240 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11083 FILM NUMBER: 241157693 BUSINESS ADDRESS: STREET 1: 300 BOSTON SCIENTIFIC WAY CITY: MARLBOROUGH STATE: MA ZIP: 01752-1234 BUSINESS PHONE: 508-683-4000 MAIL ADDRESS: STREET 1: 300 BOSTON SCIENTIFIC WAY CITY: MARLBOROUGH STATE: MA ZIP: 01752-1234 8-K 1 bsx-20240730.htm 8-K bsx-20240730 0000885725 false 0000885725 2024-07-30 2024-07-30 0000885725 us-gaap:CommonStockMember 2024-07-30 2024-07-30 0000885725 bsx:SeniorNotedue2027Member 2024-07-30 2024-07-30 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________ FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 _____________________________________________________________________ Date of Report (Date of earliest event reported): July 30, 2024 BOSTON SCIENTIFIC CORPORATION (Exact name of registrant as specified in its charter) Delaware 1-11083 04-2695240 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)      300 Boston Scientific Way , Marlborough , Massachusetts                  01752-1234     (Address of principal executive offices)                           (Zip Code) ( 508 ) 683-4000 (Registrant's telephone number, including area code) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, $0.01 par value per share BSX New York Stock Exchange 0.625% Senior Notes due 2027 BSX27 New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company    ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    ☐ Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Ar