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Executive Change · Shareholder Vote

Filed May 13, 2025 · 1y ago · Accession 0001104659-25-047402

Plain English

Material event — a significant development the company must disclose promptly.

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , D.C. 20549     FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934   Date of Report (Date of earliest event reported): May 8, 2025   ABBVIE INC. (Exact name of registrant as specified in its charter)   Delaware   001-35565   32-0375147 (State or other jurisdiction of incorporation)   (Commission File Number)   (IRS Employer Identification No.)         1 North Waukegan Road North Chicago , Illinois 60064-6400 (Address of principal executive offices)(Zip Code)    Registrant’s telephone number, including area code: ( 847 ) 932-7900   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))   Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.01 Par Value   ABBV   New York Stock Exchange         NYSE Texas 0.750% Senior Notes due 2027   ABBV27   New York Stock Exchange 2.125% Senior Notes due 2028   ABBV28   New York Stock Exchange 2.625% Senior Notes due 2028   ABBV28B   New York Stock Exchange 2.125% Senior Notes due 2029   ABBV29   New York Stock Exchange 1.250% Senior Notes due 2031   ABBV31   New York Stock Exchange   Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).   Emerging growth company ¨   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨           Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.   On May 9, 2025, AbbVie Inc. (“AbbVie”) expanded the size of its Board of Directors (the “Board”) from fourteen directors to fifteen directors and appointed Thomas J. Falk as a Class III director. Mr. Falk was previously the Chairman and Chief Executive Officer of Kimberly-Clark Corporation. Mr. Falk has been appointed to the Audit Committee. The Board affirmatively determined that Mr. Falk is an “independent director” under each of the standards set forth in section 303A.02 of the New York Stock Exchange Listed Company Manual and AbbVie’s governance guidelines and director independence guidelines. Mr. Falk will be entitled to compensation as an independent director as disclosed in Exhibit 10.5 to AbbVie’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2025. The Board also determined that the size of the Board will decrease from fifteen directors to thirteen directors upon the retirement of Richard A. Gonzalez and Glenn F. Tilton from the Board, effective July 1, 2025.   On February 14, 2025, AbbVie filed a Form 8-K to announce that the Board elected Robert A. Michael to succeed Mr. Gonzalez as the Company’s Chairman, effective July 1, 2025.  On May 8, 2025, the Compensation Committee approved a change to Mr. Michael’s compensation in recognition of his new responsibilities as Chairman.  Mr. Michael’s annual bonus target for 2025 will be 165% of his base salary.   Item 5.07 Submission of Matters to a Vote of Security Holders.   AbbVie held its 2025 Annual Meeting of Stockholders on May 9, 2025. The following is a summary of the matters voted on at that meeting.   (1) The stockholders elected AbbVie’s Class I directors with terms expiring in 2028, as follows:   Name   For     Against     Abstain     Broker Non-Votes   William H.L. Burnside   1,219,911,544     63,608,245     2,130,012     242,314,197   Thomas C. Freyman   1,208,501,938     75,272,385     1,875,478     242,314,197   Brett J. Hart   1,246,674,074     35,896,110     3,079,617     242,314,197   Edward J. Rapp   1,214,370,997     69,034,921     2,243,883     242,314,197     (2) The stockholders ratified the appointment of Ernst & Young LLP as AbbVie’s independent registered public accounting firm for 2025, as follows:   For   Against   Abstain 1,498,390,498   27,184,089   2,389,411   (3) The stockholders approved, on an advisory basis, the compensation of AbbVie’s named executive officers, as follows:   For   Against   Abstain   Broker Non-Votes 1,196,778,926   78,389,723   10,481,152   242,314,197   (4) 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 1,268,655,240   13,317,523   3,677,038   242,314,197   (5) The stockholders did not approve a stockholder proposal to implement simple majority voting, as follows:   For   Against   Abstain   Broker Non-Votes 629,404,864   646,785,440   9,459,497   242,314,197         SIGNATURE   Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.       ABBVIE INC.     Date: May 12, 2025 By: /s/ Perry C. Siatis     Perry C. Siatis     Executive Vice President, General Counsel and Secretary
Filing details
Ticker
ABBV
CIK
1551152
Form type
8-K
Filing date
May 13, 2025
Report date
May 8, 2025
Document
tm2513856d1_8k.htm
Size
296 KB