Company: ABBV
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001558370-25-003537
Chunk: 42

Company: AbbVie Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 42
---
 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 protect the interests of stockholders, up to and including actions to recover incentive awards. This includes a mandatory clawback of excess compensation in the event of a restatement, consistent with SEC rules, as well as broad authority to clawback compensation in the event of a material breach of the AbbVie Code of Business Conduct. For more details, AbbVie’s Code of Business Conduct is available in the corporate governance section of AbbVie’s investor relations