Summary
Becton, Dickinson and Company (BDX) filed an 8-K on December 29, 2017, to announce the registration of 487,989 shares of its common stock. These shares are intended to be issued to former employees of C. R. Bard, Inc. and its affiliates upon the exercise of stock-settled stock appreciation rights. These rights are being substituted for equity awards previously granted by C. R. Bard, Inc. in connection with BDX's acquisition of C. R. Bard, Inc. This filing primarily concerns the administrative and legal aspects of integrating the C. R. Bard acquisition, specifically addressing the equity compensation of former Bard employees. Investors should note that this 8-K does not contain new financial results or material business updates but rather clarifies the process for issuing shares related to the completed acquisition.
Key Highlights
- 1BDX is registering 487,989 shares of its common stock for issuance.
- 2These shares are to be issued to former employees of C. R. Bard, Inc. and its affiliates.
- 3The shares will be issued upon the exercise of stock-settled stock appreciation rights.
- 4These stock appreciation rights are substitutes for awards previously granted by C. R. Bard, Inc.
- 5The issuance of shares is a direct consequence of BDX's acquisition of C. R. Bard, Inc.
- 6A legal opinion from Gary DeFazio, BD's Senior Vice President, Corporate Secretary and Associate General Counsel, regarding the share issuance is included as an exhibit.