secwatch.observer — SEC 8-K summary
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Issuer:     BECTON DICKINSON & CO (BDX)
CIK:        0000010795
Form:       8-K
Filed at:   2023-11-27T23:59:59+00:00
Accession:  0000010795-23-000109
Event type: other_material
Sentiment:  positive
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

BD adopts policy capping executive cash severance at 2.99x salary plus bonus without shareholder vote
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- Policy prohibits new executive severance agreements exceeding 2.99 times base salary plus target bonus unless shareholder ratified.
- Applies to officers designated under Rule 16a-1(f); covers cash severance, non-compete payments, and tax gross-ups.
- Amendments that increase cash severance for existing agreements also require shareholder ratification; ordinary salary increases excluded.
- Board delegated authority to Compensation Committee for amendments and interpretations.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10795/000001079523000109/0000010795-23-000109-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10795/000001079523000109/bdx-20231121.htm
  HTML page:      https://secwatch.observer/filing/0000010795-23-000109

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer