secwatch.observer — SEC 8-K summary
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Issuer:     BAXTER INTERNATIONAL INC (BAX)
CIK:        0000010456
Form:       8-K
Filed at:   2023-10-03T23:59:59+00:00
Accession:  0001193125-23-249637
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Baxter appoints Joel Grade as CFO effective Oct 18, 2023
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- Joel Grade named EVP and CFO; Brian Stevens returns to prior role as SVP, chief accounting officer and controller.
- Grade joins from Sysco where he served as EVP corporate development and previously EVP and CFO.
- Compensation includes $800K base salary, 100% target bonus, $3.6M LTIP target value, and $500K supplemental cash payment.
- Two one-time equity grants: $3.6M (50% PSUs, 25% RSUs, 25% stock options) and $1M in RSUs.
- Grade has 25 years at Sysco; holds BS from University of Wisconsin and MBA from Northwestern.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/0001193125-23-249637-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/10456/000119312523249637/d555922d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-249637

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