Form 4: AbbVie Director Edward J. Rapp Reports Changes in Beneficial Ownership

Director Edward J. Rapp reports acquisition of stock equivalent units and updates to beneficial ownership in AbbVie Inc.

Summary

• Edward J. Rapp, a director of AbbVie Inc., filed a Form 4 with the SEC on July 2, 2024.
• The filing reports changes in beneficial ownership of AbbVie securities.
• On June 30, 2024, Rapp acquired 225 stock equivalent units at a price of $171.52 per unit.
• These units were credited to a stock equivalent unit account under a grantor trust established by the director.
• The units earn the same return as if the fees were invested in AbbVie stock and are generally paid in cash at age 65 or upon retirement from the board.
• Following the reported transaction, Rapp beneficially owns 26,170 stock equivalent units, which includes units acquired through dividend reinvestment.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company, which is generally viewed favorably.

Positives

• The acquisition of stock equivalent units demonstrates the director's continued investment in AbbVie's future.

Future Outlook

The stock equivalent units are generally paid in cash at age 65 or upon retirement from the board.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership stake of a key company director.

Key Dates