Bristol Myers Squibb (NYSE: BMY) CFO reports option exercises, tax withholding and new equity grants
Rhea-AI Filing Summary
Bristol Myers Squibb EVP and CFO David V. Elkins reported a series of equity compensation transactions involving company stock. He exercised derivative awards, converting 62,982 market share units and performance shares into common stock on March 10, 2026, as previously granted awards vested under performance-based plans. He also received new grants of 35,265 market share units and 52,898 performance share units that will vest in future years based on performance and Board certification. To cover tax obligations on these vestings, 16,114 shares of common stock were withheld at a price of $60.13 per share, which is a non-market tax payment rather than an open-market sale. Following these transactions, Elkins directly holds 189,248 shares of common stock and has an additional 291.17 shares held indirectly through the BMS Savings and Investment Program.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Market Share Units | 7,654 | $0.00 | -- |
| Exercise | Market Share Units | 7,904 | $0.00 | -- |
| Exercise | Performance Shares | 47,424 | $0.00 | -- |
| Grant/Award | Market Share Units | 35,265 | $0.00 | -- |
| Grant/Award | Performance Shares | 52,898 | $0.00 | -- |
| Exercise | Common Stock, $0.10 par value | 7,654 | $0.00 | -- |
| Other | Common Stock, $0.10 par value | 860 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.10 par value | 2,883 | $60.13 | $173K |
| Exercise | Common Stock, $0.10 par value | 7,904 | $0.00 | -- |
| Other | Common Stock, $0.10 par value | 854 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.10 par value | 2,991 | $60.13 | $180K |
| Exercise | Common Stock, $0.10 par value | 47,424 | $0.00 | -- |
| Other | Common Stock, $0.10 par value | 23,285 | $0.00 | -- |
| Tax Withholding | Common Stock, $0.10 par value | 10,240 | $60.13 | $616K |
| holding | Common Stock, $0.10 par value | -- | -- | -- |
Footnotes (1)
- Represents vesting of one-quarter of market share units granted on March 10, 2022. Represents a downward adjustment to the number of shares acquired upon the vesting of market share units due to the performance factor. Shares withheld for payment of taxes upon vesting of awards. Represents vesting of one-quarter of market share units granted on March 10, 2023. Amount represents distribution of performance shares earned under the 2023-2025 Long-Term Performance Award. Adjustment to Award based on the performance factor applied in accordance with the terms of the Award and certification of performance results by the Board. Based on recent 401(k) plan statement. Each market share unit converts into the number of shares of common stock determined by applying a payout factor to the target number of shares vesting on a given date. The payout factor is a ratio of the average of the closing price on the measurement date plus the nine prior trading days divided by the average stock price on the grant date (also a 10-day average). The minimum payout factor that must be achieved to earn a payout is 80% and the maximum payout factor is 225%. Each performance share unit converts into one share of common stock upon distribution in the first quarter of 2026. Each market share unit converts into the number of shares of common stock determined by applying a payout factor to the target number of shares vesting on a given date. The payout factor is the greater of Total Return and relative total shareholder return (rTSR) Floor. Total Return is a ratio of the 10-day average closing stock price on the measurement date, plus the value of accumulated dividends, divided by the average stock price on the grant date (also a 10-day average). The minimum payout factor for Total Return performance that must be achieved to earn a payout is 80% and the maximum is 225%. The rTSR Floor feature provides a minimum level of payout if BMS stock price declines from the grant date but outperforms our peers based on their TSR percentile rank. A TSR percentile rank (i) below the 50th percentile yields a 0% payout, (ii) between the 50th and 74.99th percentiles yields a 50% payout, and (iii) at or above the 75th percentile yields a 100% payout. These market share units cliff vest on the third anniversary of the grant date, subject to certification of performance results by the Board. Each performance share unit converts into one share of common stock upon distribution in the first quarter of 2029, subject to certification of performance results by the Board.
FAQ
What did BMY CFO David V. Elkins report in this Form 4 filing?
David V. Elkins reported equity compensation activity, including exercises of prior awards, new grants, and tax withholding. He converted 62,982 market share units and performance shares into common stock, received new long-term awards, and had shares withheld to cover taxes tied to these vestings.
What new equity awards did the BMY CFO receive in this transaction?
He received new grants of 35,265 market share units and 52,898 performance share units. These awards are subject to future performance conditions and vesting schedules, with conversion into common stock dependent on payout factors and certification of performance results by the Board.