Form 4: Boston Scientific Executive Sells Shares After Performance Share Units Vest
SEC Form 4 Filing
Jeffrey B. Mirviss, EVP & President of Peripheral Interventions at Boston Scientific, sold 13,022 shares of common stock after performance share units vested.
Summary
- On February 11, 2025, Jeffrey B. Mirviss, EVP & President of Peripheral Interventions at Boston Scientific, acquired 23,760 shares of common stock related to performance share units.
- These units were awarded on February 16, 2022, under the company's 2022 Total Shareholder Return Performance Share Program and vested after a three-year performance cycle and service period ending December 31, 2024.
- On the same day, Mirviss disposed of 10,738 shares to cover tax obligations at a price of $105.98 per share.
- On February 12, 2025, Mirviss sold 13,022 shares of common stock at a weighted average price of $105.0586 per share, with prices ranging from $104.787 to $105.26.
- These transactions were executed under a pre-established Rule 10b5-1 trading plan adopted on February 28, 2024.
- Following these transactions, Mirviss directly owns 28,454 shares of Boston Scientific common stock.
Sentiment
Score: 5
Explanation: The document reflects routine executive stock transactions. The use of a pre-established trading plan suggests no particular concern, resulting in a neutral sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are closely monitored by investors. Sales can be for personal financial planning, diversification, or other reasons. Rule 10b5-1 plans are frequently used to avoid accusations of insider trading.
Comparison to Industry Standards
- Executive compensation packages often include performance-based equity awards like the performance share units described in the filing.
- Companies like Medtronic (MDT) and Abbott Laboratories (ABT) also utilize similar equity-based compensation plans for their executives.
- The use of Rule 10b5-1 trading plans is a standard practice among corporate executives to manage stock sales in compliance with insider trading regulations.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders, but the pre-planned nature of the transactions mitigates concerns.
- The transactions do not directly impact employees, customers, suppliers, or creditors.
Key Dates
| Date | Description |
|---|---|
| February 16, 2022 | Reporting person was awarded performance share units. |
| December 31, 2024 | End of the three-year performance cycle for the performance share units. |
| February 28, 2024 | Adoption date of the Rule 10b5-1 trading plan. |
| February 11, 2025 | Performance share units vested; 10,738 shares disposed of to cover tax obligations. |
| February 12, 2025 | 13,022 shares of common stock sold. |
| February 13, 2025 | Date of Form 4 signature. |
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