Form 4: AbbVie Director Edward J. Rapp Reports Changes in Beneficial Ownership
SEC Form 4
Director Edward J. Rapp reports acquisition of restricted stock units and indirect ownership through spouse's trust.
Summary
- On May 3, 2024, Edward J. Rapp, a director of AbbVie Inc., reported changes in his beneficial ownership of AbbVie common stock.
- Rapp acquired 1,322 restricted stock units under the AbbVie Amended and Restated 2013 Incentive Stock Program.
- These restricted stock units will be paid in shares of AbbVie common stock on a one-to-one basis upon separation from service, death, or a change in control.
- Rapp also disclaims beneficial ownership of 10,388 shares held by his spouse in a trust.
- Following the reported transactions, Rapp directly owns 31,356 shares of AbbVie common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing, indicating a neutral sentiment.
Future Outlook
The restricted stock units will be paid out in shares of AbbVie common stock upon the earlier of the director's separation from service, death, or a change in control.
Industry Context
This filing is a routine disclosure related to changes in beneficial ownership by a company insider, which is a common practice for publicly traded companies.
Stakeholder Impact
- The change in ownership may have a minor impact on shareholders, as it reflects insider activity.
Key Dates
| Date | Description |
|---|---|
| 05/03/2024 | Date of transaction: Acquisition of restricted stock units and adjustment of indirect ownership. |
| 05/07/2024 | Date of signature by attorney-in-fact. |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.