Form 4: Bausch Health Director Garcia Receives $250,000 in Restricted Share Units

Christian A. Garcia, a director at Bausch Health Companies Inc., was granted 35,360 restricted share units valued at $250,000 on May 17, 2024.

Summary

• On May 17, 2024, Christian A. Garcia, a director of Bausch Health Companies Inc., received an award of 35,360 restricted share units (RSUs).
• The RSUs were granted as compensation to non-employee directors following their election at the Issuer's Annual Meeting of Shareholders.
• The grant date value of the RSUs is $250,000.
• The RSUs vest immediately prior to the Issuer's next Annual Meeting of Shareholders and will be settled in common shares of Bausch Health Companies Inc.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice for directors, indicating stable corporate governance. The sentiment is neutral to slightly positive as it aligns director interests with shareholders.

Positives

• The grant of RSUs aligns the interests of the non-employee directors with those of the shareholders.

Future Outlook

The RSUs will vest immediately prior to the Issuer's next Annual Meeting of Shareholders and will be settled in common shares of Bausch Health Companies Inc.

Industry Context

Granting RSUs to non-employee directors is a common practice to align their interests with those of the shareholders and incentivize them to contribute to the company's long-term success. The value of the grant is within the typical range for director compensation at companies of similar size and complexity.

Comparison to Industry Standards

• Director compensation packages often include a mix of cash retainers, meeting fees, and equity awards such as RSUs or stock options.
• Companies like AbbVie, Johnson & Johnson, and Pfizer also utilize equity-based compensation for their directors.
• The $250,000 grant date value is comparable to RSU grants provided to directors at similarly sized pharmaceutical companies.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns director interests with long-term company performance.
• The grant of RSUs does not have a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The RSUs will vest prior to the next Annual Meeting of Shareholders.
• The RSUs will be settled in common shares of Bausch Health Companies Inc.

Key Dates