Company: BSX
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000885725-25-000017
Chunk: 87

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 87
---
 our corporate aircraft, as well as any incremental costs associated with persons accompanying such officer on business travel. We calculate the incremental cost to us by dividing the total annual variable operating costs for the corporate aircraft by the number of in-flight hours during the year. The resulting dollar per hour amount is then multiplied by the number of hours flown for personal use by the executive officer during the year, including the “dead head” costs of flying the aircraft to and from locations for personal use. Our corporate aircrafts are used predominantly for business travel. We do not include the fixed operating costs, such as pilot salary, general taxes and insurance, in the incremental cost calculation. The incremental cost does not include amounts attributable to the NEO for increased income taxes we incurred in 2024 as a result of disallowed deductions related to personal use under Internal Revenue Service rules. For 2024, the reflected amounts exclude $994,719 of disallowed corporate income tax deductions attributable to the personal use of the corporate aircraft during the year by Mr. Mahoney. Mr. Mahoney was taxed on the imputed income attributable to his respective personal use of the corporate aircraft and did not receive tax assistance from the Company with respect to this amount.

(c) Amounts in the “Term Life Insurance” column consi st of imputed income f or Company-paid term life insurance attributable to our NEOs.

(d) Amounts in the “Financial Planning” column reflect fees paid to a service provider for financial planning services which are available for our executive officers, including our NEOs. The program provides financial counseling and planning, investment and retirement management, insurance planning, and income tax planning and preparation services through a single service provider for US-based executive officers. Executive officers located outside of the United States are eligible for reimbursement.

(e) Amounts in the “Other” column consist of the costs of miscellaneous gifts/prizes and annual physical examinations, where applicable.

(f) In connection with Mr. Butcher’s repatriation to the United States in 2022, the Company made Singapore tax payments on Mr. Butcher’s behalf equal to $325,005, which amount was reported as income in Mr. Butcher’s 2022 taxes, and a $1,344,080 exit tax on unvested equity awards, which amount was reported as income in Mr. Butcher’s 2023 taxes. Mr. Butcher also received a tax gross-up of $7,821 and $106,627 from the Company in 2022 and 2023, respectively, in