Company: ABBV
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001558370-25-003537
Chunk: 25

Company: AbbVie Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 25
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positive power with respect to 152,454,429 shares and shared dispositive power with respect to 7,925,628 shares. (2) Based solely on the Schedule 13G/A filed with the SEC on January 25, 2024, reporting beneficial ownership as of December 31, 2023, by BlackRock, Inc., which has sole voting power with respect to 129,971,632 and sole dispositive power with respect to 143,180,060 of its shares.

32 | 2025 Proxy Statement

EXECUTIVE COMPENSATION Compensation Discussion and Analysis This Compensation Discussion and Analysis (CD&A) describes the pay philosophy established for AbbVie's named executive officers (NEOs), the design of our compensation programs, the process used to examine performance in the context of executive pay decisions, and the performance goals and results for each NEO:

| ROBERT A. MICHAELChief Executive Officer | RICHARD A. GONZALEZExecutive Chairman of the Board | SCOTT T. REENTS Executive Vice President, Chief Financial Officer | JEFFREY R. STEWARTExecutive Vice President, Chief Commercial Officer | AZITA SALEKI-GERHARDTExecutive Vice President, Chief Operations Officer | TIMOTHY J.  RICHMONDExecutive Vice President, Chief Human Resources Officer​ ​ |

Although we describe our programs in the context of the NEOs, it is important to note that our programs generally have broad eligibility and therefore in most cases apply to employee populations outside the NEO group as well. The content of this section is organized according to the following.

|                                                  |    | ​ | ​                                       |  ​ |
| EXECUTIVE SUMMARY                                | 34 |   | COMPENSATION PLAN ELEMENTS              | 41 |
| Compensation Philosophy                          | 34 | ​ | Base Salary                             | 41 |
| Business Performance Highlights                  | 35 | ​ | Short-Term Incentives and 2024 Results  | 41 |
| Stockholder Engagement                           | 37 | ​ | Long-Term Incentives and 2024 Results   | 45 |
| Compensation Program Governance Summary          | 38 | ​ | Benefits                                | 47 |
| Components of our Executive Compensation Program | 39 | ​ | Employment Agreements                   | 48 |
| ​                                                |  ​ | ​ | Change in Control Agreements            | 48 |
| ​                                                |  ​ | ​ | Excise Tax Gross-Ups                    |