SEC Archives - Medical Design Sourcing

Boston Scientific whistleblower launches corruption investigation

Boston Scientific (NYSE:BSX) is investigating claims that the company violated the U.S. Foreign Corrupt Practices Act in Vietnam.

Marlborough, Massachusetts–based Boston Scientific disclosed receipt of a whistleblower’s allegations in its latest filing with the Securities and Exchange Commission.

“In March 2022, the company received a whistleblower letter alleging Foreign Corrupt Practices Act violations in Vietnam. The company is cooperating with government agencies while investigating these allegations,” the company said in its second-quarter 10-Q filing, dated Aug. 4.

More information about the allegations was not available from the filing or a Boston Scientific spokesperson reached by Medical Design & Outsourcing today. The news was first reported by the Wall Street Journal.

The Foreign Corrupt Practices Act (FCPA) was enacted in 1977 to stop companies and their employees or agents from bribing foreign officials to win or…

Henry Schein investors push back on executive pay

Stanley Bergman is CEO and chair of Henry Schein [Photo courtesy of Henry Schein]Nearly half of Henry Schein (Nasdaq:HSIC) shareholders who voted at this month’s annual meeting voted against the company’s pay packages for top executives, according to a new SEC filing.

About 48.5% of voting shareholders voted against the company’s executive pay plan in what’s known as the Say-on-Pay vote, according to vote results of the May 18 meeting filed with the SEC on Friday.

The plan had 92% support in 2021, according to that year’s SEC filing, and about 90% support the year before that.

Get the full story at our sister site, Medical Design & Outsourcing.

Henry Schein investors push back on executive pay

Stanley Bergman is CEO and chair of Henry Schein [Photo courtesy of Henry Schein]

Nearly half of Henry Schein (Nasdaq:HSIC) shareholders who voted at this month’s annual meeting voted against the company’s pay packages for top executives, according to a new SEC filing.

About 48.5% of voting shareholders voted against the company’s executive pay plan in what’s known as the Say-on-Pay vote, according to vote results of the May 18 meeting filed with the SEC on Friday. The plan had 92% support in 2021, according to that year’s SEC filing, and about 90% support the year before that.

Because these are advisory votes, they don’t require the board or management to take action and won’t affect executive pay unless the board takes steps on its own. But it’s a way for investors to put the board and top executives on notice.

Following the 2021 vote’s overwhelming support, t…

Zimmer Biomet narrowly avoids shareholder rebuke on executive pay

Zimmer Biomet CEO Bryan Hanson [Photo courtesy Zimmer Biomet]An unusually large share of Zimmer Biomet (NYSE:ZBH) investors voted against the orthopedics company’s pay packages for top executives at the annual shareholder meeting.

About 54 percent of voting shareholders supported the pay packages of the company’s five top-paid executives at the May 13 meeting, according to results filed with the SEC yesterday.

In 2021, nearly 93 percent of voting shareholders supported the executive compensation plan in what’s known as the Say on Pay vote, the company said in an SEC filing.

Get the full story at our sister site, Medical Design & Outsourcing.

Zimmer Biomet narrowly avoids shareholder rebuke on executive pay

Zimmer Biomet CEO Bryan Hanson [Photo courtesy Zimmer Biomet]

An unusually large share of Zimmer Biomet (NYSE:ZBH) investors voted against the orthopedics company’s pay packages for top executives at the annual shareholder meeting.

About 54 percent of voting shareholders supported the pay packages of the company’s five top-paid executives at the May 13 meeting, according to results filed with the SEC yesterday.

In 2021, nearly 93 percent of voting shareholders supported the executive compensation plan in what’s known as the Say on Pay vote, the company said in an SEC filing.

Because these are advisory votes, they don’t require the board or management to take action and won’t affect executive pay unless the board takes steps on its own. But it’s a way for investors to put the board and top executives on notice.

How much does the CEO of Zimmer Biomet and his t…

Abbott advises against mini-tender offer

Abbott (NYSE: ABT) appears to be part of the trend of large companies advising their shareholders to avoid unsolicited mini-tender offers.

The Abbott Park, Illinois–based maker of diagnostics, medical devices, nutritionals and branded generic medicines posted a news release today in which it advised shareholders to ignore an unsolicited mini-tender offer from TRC Capital Investment Corp. (TRC).

Mini-tender offers seek to buy less than 5% of a company’s shares from investors, enabling the offerer to avoid making the type of disclosures that the U.S. Securities and Exchange Commission requires of larger offerers. The SEC has cautioned investors to carefully scrutinize mini-tender offers to ensure they aren’t being caught off-guard on the price.

The TRC offer, scheduled to expire shortly after midnight on May 17, would purchase up to 1 million Abbott shares, representing 0.06% of the company’s outstanding shares, according to Abbott.

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