Company: ABBV
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001551152-25-000029
Chunk: 36

Company: AbbVie Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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 above and in connection with the acquisition of ImmunoGen, AbbVie incurred cash-settled, post-closing expense for ImmunoGen employee incentive awards, which is summarized in the table below:(in millions)Three months endedMarch 31, 2024Cost of products sold$31 Research and development126Selling, general and administrative192Total post-closing cash settled expense$349 Stock OptionsDuring the three months ended March 31, 2025, primarily in connection with the company's annual grant, AbbVie granted 0.6 million stock options with a weighted-average grant-date fair value of $38.39. As of March 31, 2025, $12 million of unrecognized compensation cost related to stock options is expected to be recognized as expense over approximately the next two years.RSUs and Performance SharesDuring the three months ended March 31, 2025, primarily in connection with the company's annual grant, AbbVie granted 4.7 million RSUs and performance shares with a weighted-average grant-date fair value of $193.46. As of March 31, 2025, $1.1 billion of unrecognized compensation cost related to RSUs and performance shares is expected to be recognized as expense over approximately the next two years.Cash DividendsThe following table summarizes quarterly cash dividends declared during 2025 and 2024:20252024Date DeclaredPayment DateDividend Per ShareDate DeclaredPayment DateDividend Per Share02/13/2505/15/25$1.64 10/30/2402/14/25$1.64 09/06/2411/15/24$1.55 06/21/2408/15/24$1.55 02/15/2405/15/24$1.55 Stock Repurchase ProgramThe company's stock repurchase authorization permits purchases of AbbVie shares from time to time in open-market or private transactions at management's discretion. The program has no time limit and can be discontinued at any time. Shares repurchased under this program are recorded at acquisition cost, including related expenses, and are available for general corporate purposes.

2025 Form 10-Q | 18

On February 16, 2023, AbbVie’s board of directors authorized a $5.0 billion increase to the existing stock repurchase authorization. AbbVie repurchased 3 million shares for $606