Director at Baxter (NYSE: BAX) awarded 12,836 shares, holds 34,994

Rhea-AI Filing Summary

SCHLICHTING NANCY M reported acquisition or exercise transactions in this Form 4 filing.

Baxter International Inc. director Nancy M. Schlichting reported an equity compensation grant of common stock. On May 5, 2026, she received 12,836 fully vested shares of Baxter common stock at a stated price of $0.00 per share, reflecting a grant or award rather than an open-market purchase. Following this grant, her direct holdings increased to 34,994 shares of common stock. The total reported share balance includes the automatic reinvestment of dividends.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SCHLICHTING NANCY M

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock, $1 par value	12,836	$0.00	--

Holdings After Transaction: Common Stock, $1 par value — 34,994 shares (Direct, null)

Footnotes (1)

1. The reporting person received a grant of fully vested shares of common stock of Baxter International Inc., subject to the terms and conditions of the applicable grant. Total includes the automatic reinvestment of dividends.

Key Figures

Shares granted: 12,836 shares Grant price: $0.00 per share Shares held after grant: 34,994 shares

3 metrics

Shares granted 12,836 shares Fully vested common stock grant on May 5, 2026

Grant price $0.00 per share Equity grant classified as compensation, not open-market purchase

Shares held after grant 34,994 shares Total direct Baxter common stock ownership following the transaction

Key Terms

fully vested shares, automatic reinvestment of dividends, grant, award, or other acquisition

3 terms

fully vested shares financial

"received a grant of fully vested shares of common stock"

automatic reinvestment of dividends financial

"Total includes the automatic reinvestment of dividends"

grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SCHLICHTING NANCY M

(Last) (First) (Middle)

ONE BAXTER PARKWAY

(Street)

DEERFIELD ILLINOIS 60015

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
BAXTER INTERNATIONAL INC [ BAX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/05/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $1 par value	05/05/2026		A		12,836(1)	A	$0	34,994(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person received a grant of fully vested shares of common stock of Baxter International Inc., subject to the terms and conditions of the applicable grant.

2. Total includes the automatic reinvestment of dividends.

Remarks:

	/s/ Kimberly Olson, as attorney in-fact for Nancy M. Schlichting	05/07/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Baxter (BAX) report for Nancy Schlichting?

Baxter reported that director Nancy Schlichting received 12,836 fully vested shares of common stock as an equity grant. The shares were issued at a stated price of $0.00 per share, indicating compensation rather than an open-market purchase, and increased her direct holdings.

How many Baxter (BAX) shares does Nancy Schlichting hold after this Form 4?

After the reported equity grant, Nancy Schlichting directly holds 34,994 shares of Baxter common stock. This total includes the 12,836 fully vested shares granted on May 5, 2026, as well as shares accumulated through the automatic reinvestment of dividends over time.

Was Nancy Schlichting’s Baxter (BAX) stock grant an open-market purchase?

No, the filing describes Nancy Schlichting’s 12,836-share transaction as a grant of fully vested common stock at a stated price of $0.00 per share. This indicates an equity award for compensation purposes, not a purchase of shares in the open market by the director.

What does the automatic reinvestment of dividends mean for Baxter (BAX) shares?

The filing notes that Nancy Schlichting’s total of 34,994 Baxter shares includes automatic reinvestment of dividends. This means dividends paid on her existing shares were used to acquire additional shares, gradually increasing her ownership without separate purchase transactions being reported as discrete trades.

What type of security did Nancy Schlichting receive in this Baxter (BAX) Form 4?

Nancy Schlichting received Baxter International Inc. common stock with a par value of $1.00 per share. The reported transaction covers 12,836 fully vested shares granted on May 5, 2026, classified as a non-derivative equity grant rather than any form of option, warrant, or other derivative security.