secwatch.observer — SEC 8-K summary
======================================

Issuer:     BRISTOL MYERS SQUIBB CO (BMY)
CIK:        0000014272
Form:       8-K/A
Filed at:   2023-10-31T23:59:59+00:00
Accession:  0001140361-23-050518
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Bristol-Myers details CEO succession; Caforio to retire April 1, 2024, Boerner Chairman
--------------------------------------------------------------------------------

- Giovanni Caforio steps down as CEO, becomes Executive Chairman Nov 1, 2023, then retires from Board April 1, 2024.
- Christopher Boerner appointed CEO effective Nov 1, 2023; will also become Chairman on April 1, 2024.
- Boerner's new package: $1.5M base salary, 150% target bonus, additional $1.6M LTI (60% PSUs, 40% MSUs).
- Caforio's salary and bonus unchanged during transition; no further LTI awards after March 2024.
- Board size set at 11 effective April 1, 2024, following Caforio's retirement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14272/000114036123050518/0001140361-23-050518-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14272/000114036123050518/ef20013739_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-050518

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