Form 4: Boston Scientific EVP Jeffrey Mirviss Executes Stock Option and Sells Shares Under 10b5-1 Plan

Executive Vice President of Boston Scientific, Jeffrey B. Mirviss, exercised stock options and sold shares of common stock according to a pre-established Rule 10b5-1 trading plan.

Summary

• On May 29, 2024, Jeffrey B. Mirviss, EVP & President of Peripheral Interventions at Boston Scientific, exercised stock options to acquire 33,726 shares of common stock at a price of $17.26 per share.
• Simultaneously, Mirviss sold 63,802 shares of Boston Scientific common stock at a weighted average price of $75.0987 per share, with individual sales prices ranging from $74.78 to $75.33.
• These transactions were executed under a pre-established Rule 10b5-1 trading plan adopted on February 28, 2024.
• Following these transactions, Mirviss directly owns 28,022 shares.
• Mirviss also owns 91,824 shares.

Sentiment

Score: 6

Explanation: Neutral sentiment as the transactions are part of a pre-planned trading strategy and do not necessarily indicate a change in the executive's confidence in the company.

Positives

• The transactions were conducted under a pre-established Rule 10b5-1 trading plan, indicating a planned and transparent approach to stock transactions.

Industry Context

Executive stock transactions are common and closely monitored, especially in publicly traded companies like Boston Scientific. Rule 10b5-1 plans are frequently used to allow insiders to sell shares without concerns about insider trading, as the plan is established in advance.

Comparison to Industry Standards

• Executive compensation packages often include stock options as a form of long-term incentive.
• The use of Rule 10b5-1 trading plans is a standard practice among corporate executives to manage their stock holdings while avoiding potential insider trading accusations.
• Comparable companies like Medtronic and Abbott also see regular Form 4 filings related to executive stock transactions.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the sale of shares, but the pre-planned nature of the transactions mitigates concerns about insider information.

Key Dates