Form 4: Boston Scientific Director Susan E. Morano Receives Equity Awards

Director Susan E. Morano received equity awards in the form of restricted stock and deferred stock units from Boston Scientific on May 9, 2024.

Summary

• On May 9, 2024, Susan E. Morano, a director at Boston Scientific, received an annual equity award of 1,450 shares of restricted stock valued at $107,500.
• Morano also received 421 shares of restricted stock in lieu of 25% of her yearly cash compensation, valued at approximately $31,250.
• Additionally, Morano was granted 1,450 deferred stock units as part of her annual equity award, and 421 deferred stock units in lieu of 25% of her yearly cash compensation.
• These deferred stock units represent Boston Scientific's commitment to issue one share of common stock per unit.
• The restricted stock vests in full upon the next annual meeting of stockholders.
• The deferred stock units also vest in full upon the next annual meeting of stockholders, with shares to be issued following Morano's separation from the Board of Directors service, according to the Company's Non-Employee Director Deferred Compensation Plan.
• Following these transactions, Morano directly owns 3,953 shares of common stock and 3,953 deferred stock units.

Sentiment

Score: 7

Explanation: The document reflects standard compensation practices, indicating stability and alignment of interests. It's a routine filing, so the sentiment is neutral to slightly positive.

Positives

• The equity awards align the director's interests with those of the shareholders.
• The use of restricted stock and deferred stock units encourages long-term commitment to the company.
• The vesting schedule upon the next annual meeting of stockholders provides a clear incentive for continued service.

Future Outlook

The document does not contain specific forward-looking statements beyond the vesting of the equity awards at the next annual meeting of stockholders and the issuance of deferred stock units upon separation from the Board.

Industry Context

Equity compensation is a common practice for directors of publicly traded companies like Boston Scientific to align their interests with shareholders and incentivize long-term value creation. The specific amounts and types of equity awards can vary based on company size, performance, and industry standards.

Comparison to Industry Standards

• Director compensation packages, including equity awards, vary significantly across the medical device industry.
• Companies like Medtronic and Abbott also utilize a mix of cash and equity to compensate their directors.
• The value of the equity awards granted to Susan E. Morano appears to be within a reasonable range for a director of a company the size of Boston Scientific, but a more detailed comparison would require analyzing the compensation packages of directors at peer companies.

Stakeholder Impact

• The equity awards align the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.
• The awards do not have a direct impact on employees, customers, suppliers, or creditors.

Next Steps

• The restricted stock and deferred stock units will vest upon the next annual meeting of stockholders.
• Vested shares of stock will be issued to the reporting person following the reporting person's separation from Board of Director service in accordance with the Company's Non-Employee Director Deferred Compensation Plan.

Key Dates