8-KMaterial AgreementsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Material Agreement (Jun 3, 2005)

Filed June 3, 2005For Securities:BSX

Summary

This Form 8-K filing by Boston Scientific Corporation (BSX) on June 3, 2005, primarily discloses the entry into a material definitive agreement related to executive compensation. Specifically, the Compensation Committee of the Board of Directors approved an award of 30,000 deferred stock units to Lucia L. Quinn upon her appointment as Executive Vice President, Human Resources. These deferred stock units represent a commitment to issue shares of common stock at a later date, contingent upon Ms. Quinn's continued employment with the company. The shares will be issued in three equal annual installments starting May 31, 2006. This award highlights the company's strategy to retain key executive talent through equity-based compensation, aligning executive interests with long-term shareholder value.

Key Highlights

  • 1Boston Scientific approved an award of 30,000 deferred stock units to Lucia L. Quinn, Executive Vice President, Human Resources.
  • 2The award is part of Ms. Quinn's compensation in connection with her new role.
  • 3Deferred stock units represent a commitment to issue shares of common stock in the future.
  • 4Issuance of shares is contingent upon Ms. Quinn's continued employment with Boston Scientific.
  • 5The shares will be issued in three equal annual installments, starting on May 31, 2006.
  • 6This executive compensation award is filed as a material definitive agreement.
  • 7The filing includes the form of the Deferred Stock Unit Agreement as an exhibit.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on a material definitive agreement entered into by Boston Scientific, specifically the approval of a deferred stock unit award to a newly appointed executive, Lucia L. Quinn.

Lucia L. Quinn is the Executive Vice President, Human Resources at Boston Scientific.

Deferred stock units are a form of equity compensation where the company commits to issue shares of its common stock at a future date. In this case, Ms. Quinn will receive shares in three equal annual installments beginning May 31, 2006, provided she remains employed with Boston Scientific.

This award represents a future commitment to issue shares, which will dilute existing shareholders' ownership. The exact financial impact depends on the stock price at the time of issuance and the company's overall share structure.