8-KLeadership ChangesExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Executive Changes (Sep 6, 2007)

Filed September 6, 2007For Securities:BSX

Summary

Boston Scientific Corporation (BSX) filed an 8-K on September 6, 2007, primarily to announce a change in its Board of Directors. The key event reported is the election of J. Raymond Elliott to the Board, effective September 5, 2007. Mr. Elliott brings valuable experience as he currently serves as the Chairman of Zimmer Holdings, Inc. In connection with his appointment, Mr. Elliott will receive standard director compensation, including a pro-rated annual cash retainer of $60,000 and an annual restricted stock grant valued at $120,000. This appointment is expected to be presented for ratification by stockholders at the May 2008 Annual Stockholders Meeting. The filing also notes the attachment of a press release detailing this event.

Key Highlights

  • 1J. Raymond Elliott elected to the Boston Scientific Board of Directors on September 5, 2007.
  • 2Mr. Elliott is the Chairman of Zimmer Holdings, Inc., bringing relevant industry experience.
  • 3The election is effective immediately, with Mr. Elliott subject to stockholder election in May 2008.
  • 4Standard director compensation will be provided to Mr. Elliott, including a $60,000 cash retainer and a $120,000 restricted stock grant.
  • 5The company attached a press release dated September 6, 2007, as an exhibit to the filing.
  • 6No immediate committee appointments for Mr. Elliott were specified at the time of the filing.

Frequently Asked Questions

J. Raymond Elliott is the Chairman of Zimmer Holdings, Inc. His appointment to the Boston Scientific Board of Directors likely aims to leverage his experience and leadership in the medical technology sector.

Mr. Elliott will receive the standard annual director compensation package. This includes a pro-rated cash retainer of $60,000 and a restricted stock grant valued at $120,000, based on the stock's fair market value on his election date.

J. Raymond Elliott will be up for election by the stockholders at the Annual Stockholders Meeting in May 2008.

This specific 8-K filing from September 6, 2007, focuses solely on the election of J. Raymond Elliott to the Board of Directors. It does not contain other material financial statements, business updates, or discussions of company performance.