8-KThe WireRed Alert
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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Filing text
View original ↗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
- Company
- AbbVie Inc.
- 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