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Bausch Health Companies Inc. (NYSE:BHC, TSX:BHC) announced Monday that its Board’s Talent and Compensation Committee amended the compensation agreements for certain executive officers, including CEO Thomas Appio and executive Seana Carson. According to a statement based on a recent SEC filing, the company will settle earned 2023 performance share unit awards (2023 PSUs) in cash rather than common stock upon vesting.
The 2023 PSUs, which were originally granted in March 2023 and cover a three-year performance period, are scheduled to vest on March 3, 2026. Under the revised agreements, Mr. Appio’s 1,137,862 PSUs and Ms. Carson’s 137,922 PSUs will be settled solely in cash. The amount paid will be determined by the closing price of Bausch Health common stock on the vesting date.
For Ms. Carson, the agreement specifies that, pursuant to paragraph 7(1)(b) of the Income Tax Act (Canada), she will irrevocably surrender her rights to the PSUs in exchange for a cash payment equal to the market price of the company’s shares on the vesting date.
The company stated that the full text of these amended agreements will be included in its Form 10-Q filing for the quarter ending March 31, 2026.
This information is based on a press release statement included in a recent SEC filing.
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