Company: ABBV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001558370-25-002603
Chunk: 90

Company: AbbVie Inc.
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 90
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 management proposal, which was also submitted to a shareholder vote by management in 2024, 2023, 2022, 2021, 2020, 2019, and 2018. Moreover, the Board submitted a management proposal on the related issue of declassifying the Board in 2018, 2017, and 2016. These management proposals require 80% of outstanding shares to vote in favor in order to pass. They have not passed in prior years in large part due to a lower than desired vote turnout, primarily among retail holdings. Over the past several years, AbbVie has had numerous discussions with proxy solicitors about the costs of a get-out-the-vote campaign and the likelihood of success of such a campaign for AbbVie’s stockholder base. The most recent cost estimate for such a solicitation we received was over $10 million, due to the large retail holdings of AbbVie shares. The likelihood of campaign success was uncertain and could not be assured even with the large spend. AbbVie conducts a robust investor engagement program each year to greater than 40% of our outstanding shares, and the consistent feedback from our stockholders is that such a cost would not be a good use of company resources, particularly with an uncertain likelihood of success. In sum, the Board has already shown a commitment, taken all of the steps necessary to eliminate supermajority voting, and has done so for many years. Stockholders may vote for the management proposal to eliminate supermajority voting instead of this stockholder proposal. The Board remains committed to eliminating supermajority voting and ultimately declassifying the Board, but a non-binding, advisory stockholder proposal does nothing to advance these goals. The Board of Directors recommends that you vote AGAINST the proposal. Stockholder Proposal to Conduct a Human Rights Assessment Friends Fiduciary Corporation and co-filers Mercy Investment Services, Inc., Bon Secours Mercy Health, Inc., The Sisters of Charity of Saint Elizabeth, Trinity Health, CommonSpirit Health, NEI Investments, Providence St. Joseph Health, The Sisters of St. Francis of Philadelphia, and Missionary Oblates of Mary Immaculate, have notified AbbVie that they intend to present the following proposal at the Annual Meeting and that they own the requisite number of AbbVie shares. 2025 Proxy Statement |79

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| STOCKHOLDER PROPOSALS | ​ |

RESOLVED, that shareholders of AbbVie Inc. ("AbbVie