Form 4: Bristol Myers Squibb Director Yale Boosts Equity Holdings

Bristol Myers Squibb director Phyllis R. Yale acquired 648.869 deferred share units as part of her compensation plan, increasing her total beneficial ownership to 38,891.933 units.

Summary

• Phyllis R. Yale, a director at Bristol Myers Squibb Co. (BMY), acquired 648.869 Deferred Share Units.
• The transaction occurred on December 31, 2025.
• These units were acquired at a price of $0, indicating they are part of a compensation or award plan.
• Following this transaction, Ms. Yale beneficially owns a total of 38,891.933 Deferred Share Units.
• Each Deferred Share Unit will convert into one share of common stock upon settlement, which occurs when Ms. Yale ceases to be a director or at a future specified date.
• The total beneficial ownership includes deferred compensation and dividends reinvested under the 1987 Deferred Compensation Plan for Non-Employee Directors.

Sentiment

Score: 6

Explanation: The acquisition of deferred share units by a director, even if small, generally indicates alignment of interests with shareholders and is a standard component of compensation, thus mildly positive.

Positives

• Director Phyllis R. Yale increased her beneficial ownership in Bristol Myers Squibb by acquiring 648.869 Deferred Share Units.
• The acquisition of units as part of a compensation plan aligns the director's interests with those of shareholders.
• The units are part of a long-standing 1987 Deferred Compensation Plan for Non-Employee Directors, indicating a structured approach to executive compensation.

Future Outlook

NA

Industry Context

This is a routine insider transaction for a pharmaceutical company director, common across industries for non-employee director compensation.

Comparison to Industry Standards

• The use of deferred share units as part of non-employee director compensation is a common practice in large public companies, including those in the pharmaceutical sector, to align director interests with long-term shareholder value.
• Companies like Pfizer (PFE), Johnson & Johnson (JNJ), and Merck (MRK) also utilize similar equity-based compensation structures for their non-executive directors.

Stakeholder Impact

• Shareholders: Minor positive impact due to increased alignment of a director's interests with long-term shareholder value through equity ownership.

Next Steps

• The Deferred Share Units will convert into common stock upon the reporting person ceasing to be a director or at a future date previously specified.

Key Dates

Keywords

Bristol Myers Squibb, BMY, SEC Form 4, insider transaction, director compensation, deferred share units, equity ownership, Phyllis R. Yale