What does 'advisory basis' mean for the vote on executive compensation?

A vote on an 'advisory basis' means that the shareholder's preference is non-binding. While the company considers the shareholders' input seriously, the Board of Directors ultimately has the final decision-making authority on executive compensation matters.

Will Boston Scientific now hold executive compensation votes every year?

Yes, based on the shareholder vote and the Board's decision, Boston Scientific will hold advisory votes on its executive compensation on an annual basis going forward.

BSX 8-K: Shareholder Matters

Q: What was the main purpose of this 8-K/A filing?

The main purpose was to formally confirm the outcome of a shareholder vote held on May 9, 2011, regarding the frequency of advisory votes on executive compensation. It clarified that shareholders chose an annual frequency, which is also the Board's preferred approach.

Summary

Boston Scientific Corporation (BSX) filed an 8-K/A amendment on September 26, 2011, to provide an update on the outcome of a previously held shareholder vote regarding the frequency of advisory votes on executive compensation. The amendment clarifies that shareholders, on an advisory basis, favored holding these votes on a one-year frequency. This outcome aligns with the recommendation of the company's Board of Directors.

Key Highlights

1Shareholders voted in favor of holding advisory votes on executive compensation annually.
2This decision aligns with the recommendation of Boston Scientific's Board of Directors.
3The filing serves as an amendment (8-K/A) to a previous report.
4The event date for the shareholder meeting where the vote occurred was May 9, 2011.
5This update provides clarity on the frequency of future executive compensation 'say-on-pay' votes.

BOSTON SCIENTIFIC CORP 8-K/A Report, Shareholder Vote Results (Sep 27, 2011)

Summary

Key Highlights

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