8-KLeadership ChangesExhibits & Filings

ABBOTT LABORATORIES 8-K Report, Executive Changes (Apr 24, 2009)

Filed April 24, 2009For Securities:ABT

Summary

This 8-K filing from Abbott Laboratories (ABT) on April 24, 2009, primarily announces the shareholder approval of the Abbott Laboratories 2009 Incentive Stock Program (the "2009 Program"). This new program is designed to replace the previous 1996 Incentive Stock Program and will be the vehicle for granting equity-based compensation to employees and non-employee directors. The 2009 Program offers a range of award types, including nonqualified stock options, restricted stock awards, restricted stock units, and performance awards. The aggregate maximum number of shares authorized for issuance under the 2009 Program is substantial, set at 175,000,000, plus unused shares from the prior program and shares from forfeited awards. This initiative reflects Abbott's commitment to aligning executive and employee compensation with shareholder value through long-term incentives.

Key Highlights

  • 1Shareholder approval of the Abbott Laboratories 2009 Incentive Stock Program (2009 Program) on April 23, 2009.
  • 2The 2009 Program replaces the Abbott Laboratories 1996 Incentive Stock Program.
  • 3The program allows for various equity-based awards, including stock options, restricted stock, and restricted stock units.
  • 4Awards can be granted to employees, including those in foreign jurisdictions, and non-employee directors.
  • 5A maximum of 175,000,000 Abbott common shares can be issued under the 2009 Program, plus certain unused shares from the prior program.
  • 6The 2009 Program has a term of ten years.
  • 7The filing details the adoption and terms of the 2009 Program, referencing pages from the company's Definitive Proxy Statement for further details.

Frequently Asked Questions

The primary purpose of this 8-K filing is to report that Abbott Laboratories' shareholders approved the adoption of the Abbott Laboratories 2009 Incentive Stock Program at their annual meeting. This new program will serve as the framework for the company's equity-based incentive compensation going forward.

The 2009 Program permits Abbott to grant several types of equity-based awards, including nonqualified stock options, restricted stock awards, restricted stock units, performance awards, stock appreciation rights, dividend equivalents, and recognition awards. It also allows for awards to non-employee directors and employees in foreign countries.

The maximum number of Abbott common shares authorized for issuance under the 2009 Program is 175,000,000. This figure also includes any shares authorized but unissued under the prior 1996 Program and shares from awards previously granted under the 1996 Program that cease to be subject to such awards for any reason.

The 2009 Incentive Stock Program has a term of ten years from its adoption date.