SEC Form 4 · accession 0001225208-16-027958
BOSTON SCIENTIFIC CORP · BSX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
John Bradley Sorenson
Officer — SVP, Manuf & Sup Chn
Period of report
Feb 22, 2016
Accepted (ET)
Feb 24, 2016 · 4:53 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000885725
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Deferred Stock UnitsF1,F2 | — | Feb 22, 2016 | A | 7,966 | A | — | Feb 22, 2021 | Common Stock | 7,966 | 7,966 | D |
| Performance Share UnitsF4,F3 | — | Feb 22, 2016 | A | 8,338 | A | Dec 31, 2017 | Dec 31, 2017 | Common Stock | 8,338 | 8,338 | D |
| Stock Option (Right to Buy)F5 | $17.26 | Feb 22, 2016 | A | 23,187 | A | — | Feb 22, 2026 | Common Stock | 23,187 | 23,187 | D |
Explanation of responses
- F1Each deferred stock unit represents the Company's commitment to issue one share of Boston Scientific common stock.
- F2Shares of common stock will be issued to the reporting person in five equal annual installments beginning on February 22, 2017, the first anniversary of the date of grant.
- F3Each performance share unit represents the Company's commitment to issue one share of Boston Scientific common stock.
- F4On February 23, 2015, the reporting person was awarded a target number of performance share units under the Company's 2015 Free Cash Flow Performance Share Program, the actual number of which to be earned by the reporting person based on the Company's 2015 adjusted free cash flow measured against its 2015 financial plan over the one-year performance period ending December 31, 2015 and subject to the completion of a three-year individual service period (inclusive of the performance period). On February 22, 2016, the number of the target performance share units as to which the performance criteria had been satisfied was determined. The performance share units so determined will vest in whole upon the completion of the individual service period that ends on December 31, 2017.
- F5Grant to the reporting person of an option to purchase a specified number of shares of common stock vesting in four equal annual installments beginning on February 22, 2017, the first anniversary of the date of grant.