Form 4: AbbVie SVP, Controller Kevin K. Buckbee Reports Stock and Option Awards
SEC Form 4
Kevin K. Buckbee, SVP and Controller at AbbVie, reports the vesting of performance-based stock awards and the grant of stock options.
Summary
- On February 13, 2025, Kevin K. Buckbee, SVP and Controller of AbbVie, reported transactions related to AbbVie common stock.
- Buckbee acquired shares through the vesting of performance share awards and restricted stock units granted in 2022, 2023 and 2024.
- A total of 8,347 shares were acquired through performance share awards.
- Buckbee also acquired 6,250 options to buy AbbVie common stock at an exercise price of $192.86, which become exercisable in annual increments starting February 13, 2026.
- Following these transactions, Buckbee directly owns 15,330 shares of AbbVie common stock and 6,250 derivative securities.
Sentiment
Score: 7
Explanation: The sentiment is neutral to positive. The vesting of performance-based awards suggests the company is meeting its goals, and the granting of stock options is a standard practice.
Positives
- The vesting of performance-based awards suggests that AbbVie has met certain performance goals set by the Compensation Committee.
- The grant of stock options aligns management's interests with those of shareholders.
Future Outlook
The options become exercisable in annual increments of 2,084 on February 13, 2026, 2,083 on February 13, 2027, and 2,083 on February 13, 2028.
Industry Context
Stock awards and options are common forms of executive compensation in the pharmaceutical industry, aligning management incentives with company performance and shareholder value.
Comparison to Industry Standards
- Companies like Johnson & Johnson, Pfizer, and Merck also utilize stock options and restricted stock units as part of their executive compensation packages.
- The vesting schedules and performance metrics associated with these awards are typically aligned with industry best practices to incentivize long-term value creation.
Stakeholder Impact
- Shareholders may view the vesting of performance-based awards positively, as it indicates the company is achieving its performance targets.
- Employees may be motivated by the opportunity to receive stock options and performance-based awards.
Key Dates
| Date | Description |
|---|---|
| February 17, 2022 | Date of original performance share and restricted stock unit awards. |
| February 16, 2023 | Date of original performance-vesting restricted stock unit award. |
| February 15, 2024 | Date of original performance-vesting restricted stock unit award. |
| February 13, 2025 | Date of transaction (vesting of awards and grant of options). |
| February 13, 2026 | First date options become exercisable. |
| February 13, 2027 | Second date options become exercisable. |
| February 13, 2028 | Third date options become exercisable. |
| February 12, 2035 | Expiration date of options. |
| February 28, 2025 | Date shares will be issued to the reporting person. |
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.