Company: BSX
Filing Date: 2025-03-19
Form Type: DEF 14A
Source: 0000885725-25-000017
Chunk: 116

Company: BOSTON SCIENTIFIC CORP
Filing Date: 2025-03-19
Form: DEF 14A
Chunk 116
---
 control on December 31, 2024, (a) the awards under our 2023 ONSG PSP would accelerate, subject to proration as described in the foregoing paragraph, at 200% of target based on the Company’s ONSG performance during the period beginning January 1, 2023 to December 31, 2024 and (b) the awards under our 2024 ONSG PSP would be forfeited because the change in control did not occur after December 31 in the year of grant. Because we have not yet reached the end of the Performance Period for the awards under the 2023 and 2024 ONSG PSPs, we are unable to ascertain with certainty the value of the ONSG performance-based RSUs that the NEOs would be entitled to in the event of retirement, death or disability on December 31, 2024. In such event, assuming that the Company’s performance at the end of the Performance Period is the same as for the one- and two year periods ended December 31, 2024, the awards under each of our 2023 ONSG PSP and 2024 ONSG PSP would accelerate, subject to proration as described in the foregoing paragrap h, at 200% o f target based on the Company’s ONSG performance during the one- and two year periods beginning January 1, 2023 and January 1, 2024 and ended December 31, 2024, respectively.

In February 2022, each of our NEOs was awarded FCF performance-based RSUs under our 2022 FCF PSP. Our Adjusted FCF performance in 2022 was 93.9% relative to our 2022 internal financial plan; accordingly, in February 2023, the Compensation Committee determined that pursuant to the terms of the 2022 FCF PSP, 87.8% of the target number of FCF performance-based RSUs had been earned under the program. All of such units were subject to the satisfaction of the service criteria over a three-year period (inclusive of the performance period) which ended on December 31, 2024. Under the 2022 FCF PSPs, if a participant’s employment terminates due to retirement after the performance period but prior to the end of the three-year service period, shares of our common stock will be issued in respect of the FCF performance-based RSUs as to which the performance criteria under the program