Johnson & Johnson adopts new deferred compensation plan for management

JOHNSON & JOHNSON

Plan adopted Nov. 21, 2023; allows deferral of up to 50% of base salary and 100% of annual cash bonus.
Participants fully vested at all times; no matching or discretionary company contributions.
Payments made upon separation from service or at an in-service date elected by the participant.
Executive Income Deferral Plan (EIDP) closed to new deferrals; existing balances may transfer options.
Plan is unfunded, nonqualified, and limited to pay grade 50+ highly-compensated employees.

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