Form 4: Boston Scientific EVP and CFO Daniel J. Brennan Reports Stock Transactions
SEC Form 4 Filing
Daniel J. Brennan, EVP and CFO of Boston Scientific, reports the vesting of performance share units, subsequent sale of shares, and resulting changes in beneficial ownership of company stock.
Summary
- On January 1, 2025, Daniel J. Brennan, EVP and CFO of Boston Scientific, had 14,901 performance share units vest, which converted into common stock.
- Also on January 1, 2025, 5,212 shares were disposed of to cover tax obligations at a price of $89.32 per share.
- On January 3, 2025, Brennan sold 9,689 shares of common stock at a weighted average price of $89.8582 per share.
- Following these transactions, Brennan directly owns 223,921 shares of Boston Scientific common stock.
- The sale of shares on January 3, 2025, was executed under a pre-established Rule 10b5-1 trading plan adopted on August 26, 2024.
Sentiment
Score: 5
Explanation: This is a routine disclosure of stock transactions by a company executive. It doesn't inherently indicate positive or negative sentiment, but rather provides transparency into insider trading activity.
Industry Context
Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to investors.
Stakeholder Impact
- Shareholders are informed about the stock transactions of a key executive, providing insights into insider activity.
- The transactions may have a minor impact on the stock price due to the volume of shares sold.
Key Dates
| Date | Description |
|---|---|
| February 10, 2022 | Reporting person was awarded performance share units under the Company's 2022 Free Cash Flow Performance Share Program. |
| December 31, 2022 | End of the one-year performance period for the performance share units. |
| February 14, 2023 | The number of the target performance share units as to which the performance criteria had been satisfied was determined. |
| August 26, 2024 | Adoption date of the Rule 10b5-1 trading plan. |
| December 31, 2024 | Completion of the three-year individual service period, vesting the performance share units. |
| January 1, 2025 | Vesting of 14,901 performance share units and disposition of 5,212 shares for tax obligations. |
| January 3, 2025 | Sale of 9,689 shares of common stock. |
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