Company: ABBV
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0001558370-25-002603
Chunk: 49

Company: AbbVie Inc.
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 49
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 increased and the discount rates used for the Pension Plan and the Supplemental Pension Plan were increased to reflect that change. An increase in the discount rate decreases the present value of participants’ pension benefits while actual monthly payments to be made to participants are not changed. The discount rate used for 2024 was 5.85% for the Pension Plan and 5.80% for the Supplemental Pension Plan. The discount rate used for 2023 was 5.14% for the Pension Plan and 5.12% for the Supplemental Pension Plan. The discount rate used for 2022 was 5.32% for the Pension Plan and 5.30% for the Supplemental Pension Plan. The mortality assumptions that apply for actuarial purposes also affect pension values.

2025 Proxy Statement |53

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| EXECUTIVE COMPENSATION | ​ |

In addition to the effect of the changes in actuarial assumptions, the change in pension value reflects the application of the benefit formulas under the Pension Plan and the Supplemental Pension Plan, which are described in the section of this proxy statement captioned “Pension Benefits.” As participants’ pay changes, the formulas yield revised pension values. Furthermore, as a participant ages and service credit accumulates year over year (before the participant is eligible for unreduced pension benefits), the present value of their pension benefits increases, even without changes in pay or actuarial assumptions.

| (6) | The amounts shown below are reported in this column for 2024. |

Earnings for Non-Qualified Defined Benefit and Non-Qualified Defined Contribution Plans R. Michael: $143,399; R. Gonzalez: $1,608,552; S. Reents: $359,391; J. Stewart: $719,078; A. Saleki-Gerhardt: $858,145; and T. Richmond: $785,920. Each of the NEOs’ awards under the AbbVie Performance Incentive Plan is paid in cash to the NEO on a current basis and, for eligible NEOs, may be deposited into a grantor trust established by the NEO, net of maximum tax withholdings. Each of the eligible NEOs has also established grantor trusts in connection with the AbbVie Supplemental Pension Plan and the AbbVie Supplemental Savings Plan. These amounts include earnings net of the reportable interest included in footnote (4). Employer Contributions to Defined Contribution Plans R. Michael: $80,370