Company: ABBV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001558370-25-002603
Chunk: 42

Company: AbbVie Inc.
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 42
---
 within two years following a change in control, they are entitled to receive certain pay and benefits as described in the section of this proxy statement captioned “Potential Payments upon Termination or Change in Control.” 48 | 2025 Proxy Statement

| ​ | ​                      |
| ​ | EXECUTIVE COMPENSATION |

EXCISE TAX GROSS-UPS AbbVie does not provide excise tax gross-ups on NEO severance or other payments in connection with a change in control. Other Matters STOCK OWNERSHIP GUIDELINES AbbVie’s stock ownership guidelines are designed to further promote sustained stockholder return and to ensure the company’s senior executives remain focused on both short- and long-term objectives. Each senior executive has five years from the date of election or appointment to their position to achieve the ownership level associated with their position. NEOs are not allowed to sell stock, except for tax withholding at vesting or exercise, if they do not satisfy the minimum stock ownership requirement. The minimum stock ownership guidelines for the CEO and other NEOs are as follows:

| ​                     | ​ | ​                           | ​ | ​                |
| Executive             |   | Stock Ownership Requirement |   | Requirement Met? |
| Robert A. Michael     | ​ | 6x Base Salary              | ​ | Yes              |
| Richard A. Gonzalez   | ​ | 6x Base Salary              | ​ | Yes              |
| Scott T. Reents       | ​ | 3x Base Salary              | ​ | Yes              |
| Jeffrey R. Stewart    | ​ | 3x Base Salary              | ​ | Yes              |
| Azita Saleki-Gerhardt | ​ | 3x Base Salary              | ​ | Yes              |
| Timothy J. Richmond   | ​ | 3x Base Salary              | ​ | Yes              |

In addition, AbbVie’s non-employee directors are required to own AbbVie stock valued at five times (5x) the annual fee for service as a director under the AbbVie Non-Employee Directors’ Fee Plan within five years of joining the Board or as soon as practicable thereafter. CLAWBACK POLICY The committee does not anticipate there would ever be circumstances where a restatement of earnings upon which any incentive plan award decisions were based would occur or circumstances where an executive officer engages in misconduct that would constitute a material breach of the AbbVie Code of Business Conduct. Nevertheless, the committee, in evaluating such circumstances, has broad discretion to take all actions necessary to