Form 4: Bausch Health Director Steven D. Miller Reports Acquisition of Restricted Share Units

Director Steven D. Miller reports acquisition of 35,360 restricted share units (RSUs) and disposition of 10,000 common shares held indirectly through an IRA.

Summary

• On May 17, 2024, Steven D. Miller, a director of Bausch Health Companies Inc., reported acquiring 35,360 restricted share units (RSUs).
• These RSUs were granted as compensation to non-employee directors following their election at the Issuer's Annual Meeting of Shareholders.
• The RSUs have a grant date value of $250,000 and vest immediately prior to the Issuer's next Annual Meeting of Shareholders.
• The RSUs will be settled in common shares of Bausch Health.
• Miller also reported the disposition of 10,000 common shares held indirectly through an IRA.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed neutrally to positively as it aligns director interests with shareholders.

Positives

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

Future Outlook

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

Industry Context

This is a standard practice for compensating non-employee directors in publicly traded companies, aligning their interests with shareholders through equity-based compensation.

Comparison to Industry Standards

• Granting RSUs to directors is a common practice among publicly traded companies.
• The value of the grant ($250,000) appears to be within a typical range for director compensation at companies of similar size and industry to Bausch Health.
• Companies like AbbVie, Johnson & Johnson, and Pfizer also utilize equity-based compensation for their directors.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns director interests with company performance.
• The transaction has a minimal impact on other stakeholders.

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.

Key Dates