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Bristol Myers Squibb logoBristol Myers Squibb BMY

The company said its Board of Directors elected Michael R. McMullen as a director on June 18, 2024, effective July 1, 2024. As a result, the size of the Board will increase to 11 members.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary

  1. The company said its Board of Directors elected Michael R. McMullen as a director on June 18, 2024, effective July 1, 2024. As a result, the size of the Board will increase to 11 members.

  2. The company said the Board determined that McMullen is independent under the New York Stock Exchange listing standards and the Board's independence standards. He will serve on the Audit Committee from July 1, 2024.

  3. The company said McMullen will receive compensation under the company's standard compensatory arrangement for non-employee directors, including an annual retainer of $110,000 and an annual award of deferred share units valued at $210,000 on the grant date.

  4. The company said McMullen served as President and Chief Executive Officer of Agilent Technologies, Inc. from 2015 to 2024, and is serving as a senior advisor to Agilent and its new CEO until October 31, 2024. The company also said he currently serves on the board of KLA Corporation.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Michael R. McMullen Elected to Board, Expanding Board to 11 Members

The company said its Board of Directors elected Michael R. McMullen as a director on June 18, 2024, effective July 1, 2024. As a result, the size of the Board will increase to 11 members.

Source · Based on the filing body and exhibits

Independent Director Determination and Audit Committee Assignment

The company said the Board determined that McMullen is independent under the New York Stock Exchange listing standards and the Board's independence standards. He will serve on the Audit Committee from July 1, 2024.

Source · Based on the filing body and exhibits

Director Compensation: Annual Retainer $110,000, Deferred Share Units $210,000

The company said McMullen will receive compensation under the company's standard compensatory arrangement for non-employee directors, including an annual retainer of $110,000 and an annual award of deferred share units valued at $210,000 on the grant date.

Source · Based on the filing body and exhibits

McMullen's Career at Agilent Technologies

The company said McMullen served as President and Chief Executive Officer of Agilent Technologies, Inc. from 2015 to 2024, and is serving as a senior advisor to Agilent and its new CEO until October 31, 2024. The company also said he currently serves on the board of KLA Corporation.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.