secwatch.observer — SEC 8-K summary
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Issuer:     JOHNSON & JOHNSON (JNJ)
CIK:        0000200406
Form:       8-K
Filed at:   2022-01-06T23:59:59+00:00
Accession:  0000200406-22-000004
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

J&J CEO transition effective Jan 3: Duato CEO, Gorsky Exec Chairman; comp details disclosed
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- Joaquin Duato assumes CEO and Board member roles as of Jan 3, 2022; Alex Gorsky becomes Executive Chairman.
- Duato's base salary set at $1.5M, annual incentive target 175% ($2.625M), LTI target 820% ($12.3M) of base.
- Gorsky's base salary reduced to $1.4M, annual incentive target 150% ($2.1M); no future LTI awards for exec chairman role.
- Changes approved by Board on Jan 4, 2022; Duato gets no additional compensation for Board service.
- CEO succession was previously announced on Aug 19, 2021; this filing formalizes compensation adjustments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/200406/000020040622000004/0000200406-22-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/200406/000020040622000004/jnj-20220106.htm
  HTML page:      https://secwatch.observer/filing/0000200406-22-000004

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