Form 4: Bausch Health Director Kavanagh Receives Restricted Share Units

Director Sarah B. Kavanagh of Bausch Health Companies Inc. received 35,360 restricted share units (RSUs) valued at $250,000 on May 17, 2024, and disposed of 182,012 common shares.

Summary

• Sarah B. Kavanagh, a director at Bausch Health Companies Inc., reported changes in beneficial ownership on May 17, 2024.
• Kavanagh acquired 35,360 restricted share units (RSUs) as part of her compensation as a non-employee director.
• These RSUs, valued at $250,000, vest immediately before the next Annual Meeting of Shareholders and will be settled in common shares.
• Kavanagh also disposed of 182,012 common shares.
• Following these transactions, Kavanagh beneficially owns 182,012 common shares.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of director compensation, which is generally viewed neutrally. The RSU grant is a positive sign of aligning director interests with shareholders.

Positives

• The grant of RSUs to non-employee directors aligns their interests with those of shareholders.
• The vesting schedule encourages continued service and commitment to the company.

Future Outlook

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

Industry Context

Director compensation through equity grants is a common practice in publicly traded companies to align the interests of directors with those of shareholders. The size and structure of the grant are typical for non-employee directors.

Comparison to Industry Standards

• Equity compensation for non-employee directors typically ranges from $100,000 to $500,000 annually, depending on the company's size and industry.
• Companies like AbbVie and Johnson & Johnson also use a mix of cash and equity for director compensation.
• The vesting schedule of immediately prior to the next annual meeting is a common practice.

Stakeholder Impact

• Shareholders: The RSU grant aligns director interests with shareholder value.
• Employees: No direct impact on employees.
• Customers: No direct impact on customers.
• Suppliers: No direct impact on suppliers.
• Creditors: No direct impact on creditors.

Key Dates