Form 4: Boston Scientific EVP Fitzgerald Reports Share Transactions and Performance Share Unit Vesting

Executive Vice President of Boston Scientific, Joseph Michael Fitzgerald, reports a series of transactions involving company stock, including purchases, sales, and the vesting of performance share units.

Summary

• Joseph Michael Fitzgerald, an EVP at Boston Scientific, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On December 3, 2024, he purchased 50 shares of common stock at $90.2919 per share.
• On December 10, 2024, he sold 20 shares at $89.9722 per share.
• On February 11, 2025, 31,680 performance share units vested, with a value of $0.00 per share at vesting.
• Also on February 11, 2025, 14,447 shares were disposed of to cover tax obligations at $105.98 per share.
• Fitzgerald also disclaims beneficial ownership of 4,894 shares held by his child.

Sentiment

Score: 6

Explanation: The document primarily reports routine transactions and vesting of previously awarded shares. The vesting of performance shares is a positive signal, but the transactions themselves are not necessarily indicative of a strong positive or negative outlook.

Positives

• The vesting of 31,680 performance share units indicates that performance targets were met, reflecting positively on the company's performance relative to the S&P 500 Health Care Index.

Future Outlook

The number of performance share units earned was based on the company's total shareholder return performance percentile relative to that of the other companies in the S&P 500 Health Care Index over the three-year performance cycle comprising the three-year period ended December 31, 2024.

Management Comments

• The reporting person disclaims beneficial ownership of the shares held by his child, and this report should not be deemed an admission that the reporting person is the beneficial owner of his child's shares for purposes of Section 16 or for any other purpose.

Industry Context

Executive stock transactions are common and are closely watched by investors as they can provide insights into an executive's perspective on the company's current valuation and future prospects.

Comparison to Industry Standards

• Executive compensation packages often include performance share units tied to metrics like total shareholder return (TSR), which is a common practice among S&P 500 companies, including those in the healthcare sector.
• Companies like Medtronic, Abbott Laboratories, and Johnson & Johnson also utilize similar performance-based equity compensation plans to align executive incentives with shareholder value creation.
• The vesting of performance share units indicates that Boston Scientific's TSR performance was competitive within the S&P 500 Health Care Index.

Stakeholder Impact

• The vesting of performance share units aligns executive compensation with shareholder returns, potentially benefiting shareholders.
• The transactions reported have a minor impact on the overall shareholding structure.

Key Dates