Summary
Boston Scientific Corporation (BSX) filed an 8-K on December 5, 2017, reporting a compensation adjustment for a named executive officer. Specifically, on December 1, 2017, Joseph M. Fitzgerald, Executive Vice President and President of Rhythm Management, was granted a stock option to purchase 306,372 shares of common stock at an exercise price of $26.15 per share, with a total grant value of $2.5 million. This option grant vests over four years, with the first installment vesting on December 1, 2018, one year after the grant date. The grant is made under the company's 2011 Long Term Incentive Plan. This information is material for investors as it provides insight into executive compensation strategy and potential future dilution, which can impact shareholder value.
Key Highlights
- 1Named executive officer Joseph M. Fitzgerald received a stock option grant.
- 2The grant includes 306,372 shares of common stock with an exercise price of $26.15 per share.
- 3The total value of the stock option grant is $2.5 million.
- 4The option vests in four equal annual installments, starting on December 1, 2018.
- 5The compensation adjustment was made on December 1, 2017.
- 6The grant is made pursuant to the 2011 Boston Scientific Long Term Incentive Plan.