8-K/A
filed May 8, 2024, 7:59 PM ET
ticker ABBV
CIK 0001551152
leadership
confidence high
sentiment neutral
materiality 0.55
AbbVie approves CEO compensation for Robert Michael; shareholders reject supermajority repeal
AbbVie Inc.
- CEO-elect Robert Michael base salary set at $1.7M with target bonus of 150% of base, effective July 1, 2024.
- Outgoing CEO Richard Gonzalez receives $1.5M base salary as Executive Chairman, target bonus 140% of base.
- Shareholders approved all directors and say-on-pay advisory vote (annual basis) with majority support.
- Proposal to eliminate supermajority voting failed with 1.249B for, 21.4M against, but required supermajority not met.
- Stockholder proposals on simple majority voting, lobbying report, and patent report all rejected with over 900M against each.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Richard A. Gonzalez changed role as Executive Chairman of the Board at AbbVie Inc..
- Action
- become
- Role
- Executive Chairman of the Board
Exact text from the filing
Mr. Gonzalez will become Executive Chairman of the Board.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Robert A. Michael was appointed as Chief Executive Officer at AbbVie Inc..
- Action
- selected
- Role
- Chief Executive Officer
Exact text from the filing
selected Robert A. Michael to succeed Richard A. Gonzalez as AbbVie’s Chief Executive Officer (CEO), effective July 1, 2024
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders approved Ratification of appointment of Ernst & Young LLP as independent registered public accounting firm for 2024 at the 2024-05-03 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders ratified the appointment of Ernst & Young LLP as AbbVie’s independent registered public accounting firm for 2024, as follows: For Against Abstain 1,492,584,834 25,439,349 2,936,897
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders approved Advisory vote on frequency of future say on pay votes at the 2024-05-03 meeting.
- Proposal
- say on pay frequency
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders approved, on an advisory basis, the frequency of the vote to approve the compensation of AbbVie’s named executive officers, as follows: 1 Year 2 Years 3 Years Abstain Broker Non-Votes 1,245,324,966 4,703,272 18,046,245 6,957,080 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders rejected Stockholder proposal to issue an annual report on lobbying at the 2024-05-03 meeting.
- Outcome
- failed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders did not approve a stockholder proposal to issue an annual report on lobbying, as follows: For Against Abstain Broker Non-Votes 341,147,876 920,953,722 12,929,965 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders approved Advisory approval of compensation of named executive officers at the 2024-05-03 meeting.
- Proposal
- say on pay
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders approved, on an advisory basis, the compensation of AbbVie’s named executive officers, as follows: For Against Abstain Broker Non-Votes 1,169,920,693 96,635,849 8,475,021 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders rejected Stockholder proposal to implement simple majority voting at the 2024-05-03 meeting.
- Outcome
- failed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders did not approve a stockholder proposal to implement simple majority voting, as follows: For Against Abstain Broker Non-Votes 623,935,599 644,183,358 6,912,606 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.99
AbbVie Inc. shareholders rejected Stockholder proposal to issue an annual report on patent process at the 2024-05-03 meeting.
- Outcome
- failed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders did not approve a stockholder proposal to issue an annual report on patent process, as follows: For Against Abstain Broker Non-Votes 315,426,248 941,651,498 17,953,817 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.98
AbbVie Inc. shareholders rejected Amendment of certificate of incorporation to eliminate supermajority voting at the 2024-05-03 meeting.
- Proposal
- charter amendment
- Outcome
- failed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders did not approve the management proposal regarding amendment of the certificate of incorporation to eliminate supermajority voting, as follows: For Against Abstain Broker Non-Votes 1,249,248,243 21,439,823 4,343,497 245,929,517
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.95
AbbVie Inc. shareholders approved Election of Class III directors with terms expiring in 2027 - Roxanne S. Austin, Richard A. Gonzalez, Susan E. Quaggin, Rebecca B. Roberts, Glenn F. Tilton at the 2024-05-03 meeting.
- Proposal
- director election
- Outcome
- passed
- Meeting
- 2024-05-03
Exact text from the filing
The stockholders elected AbbVie’s Class III directors with terms expiring in 2027, as follows: Name For Against Abstain Broker Non-Votes Roxanne S. Austin 1,195,661,209 77,171,745 2,198,609 245,929,517 Richard A. Gonzalez 1,174,460,841 94,950,345 5,620,377 245,929,517 Susan E. Quaggin 1,264,358,441 8,524,362 2,148,760 245,929,517 Rebecca B. Roberts 1,223,837,505 48,797,905 2,396,153 245,929,517 Glenn F. Tilton 1,171,160,370 101,200,449 2,670,744 245,929,517
View on SEC.gov
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