Form 4: Johnson & Johnson Executive VP, CFO Joseph J. Wolk Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Executive VP and CFO of Johnson & Johnson, Joseph J. Wolk, reports changes in beneficial ownership related to Performance Share Units (PSUs) awarded under the company's Long-Term Incentive Plan.
Summary
- Joseph J. Wolk, Executive VP and CFO of Johnson & Johnson, filed a Form 4 to report changes in beneficial ownership.
- The report details the acquisition of 15,316 Performance Share Units (PSUs) on February 10, 2025.
- These PSUs were awarded under Johnson & Johnson's Long-Term Incentive Plan on February 14, 2022.
- The total number of PSUs has been revised to reflect that certain PSUs, originally granted on February 14, 2022, were forfeited based on performance conditions set forth in the award agreement.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing related to executive compensation. The sentiment is neutral as it primarily reports factual information about changes in beneficial ownership.
Negatives
- Some PSUs, originally granted on February 14, 2022, were forfeited based on performance conditions set forth in the award agreement.
Future Outlook
NA
Industry Context
This filing is a routine disclosure related to executive compensation and equity ownership, common among publicly traded companies. It reflects the ongoing administration of Johnson & Johnson's Long-Term Incentive Plan.
Comparison to Industry Standards
- Executive compensation packages including performance share units are a standard practice among large, publicly traded companies like Johnson & Johnson.
- Companies such as Pfizer, Merck, and AbbVie also utilize similar long-term incentive plans to align executive interests with shareholder value.
- The specific terms and conditions of these plans, including performance metrics and vesting schedules, can vary widely based on company-specific goals and industry benchmarks.
Stakeholder Impact
- The filing provides transparency to shareholders regarding executive compensation and alignment of interests.
- It assures stakeholders that executive compensation is tied to performance metrics.
Key Dates
| Date | Description |
|---|---|
| 02/14/2022 | Original grant date of Performance Share Units under the Long-Term Incentive Plan |
| 02/10/2025 | Transaction date for the acquisition of Performance Share Units |
| 02/12/2025 | Date of signature for the Form 4 filing |
| 02/14/2025 | Date of Performance Share Units (PSUs) awarded under Issuer's Long-Term Incentive Plan |
Keywords
Form 4, beneficial ownership, Performance Share Units, Long-Term Incentive Plan, Joseph J. Wolk, Johnson & Johnson, JNJ, PSUs
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