BRISTOL MYERS SQUIBB CO
For the period ended Dec 31, 2024. Filed Mar 26, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Dec 31, 2024 · Filed Mar 26, 2025
Contents
Cover page
Show cover page
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of
the Securities Exchange Act of 1934 (Amendment No.)
Filed by the Registrant ☒
Filed by a Party other than the Registrant ☐
Check the appropriate box:
☐ Preliminary Proxy Statement
☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒ Definitive Proxy Statement
☐ Definitive Additional Materials
☐ Soliciting Material under §240.14a-12
Bristol-Myers Squibb Company
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
☒ No fee required.
☐ Fee paid previously with preliminary materials.
☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.
Table of Contents
| Message from Christopher S. Boerner, Board Chair and Chief Executive Officer | 1 |
|---|---|
| Message from Theodore R. Samuels, Lead Independent Director | 2 |
| Bristol Myers Squibb: The Story | 3 |
| Who We Are: 2025 Director Nominees | 5 |
| Our Board of Directors | 5 |
| Item 1—Election of the Board of Directors | 8 |
| How We Are Selected and Elected | 19 |
| Majority Vote Standard and Director Resignation Policy | 19 |
| Criteria for Board Membership | 19 |
| Director Independence | 19 |
| Director Succession Planning and Identification of Board Candidates | 20 |
| Annual Evaluation Process | 22 |
| How We Govern and Are Governed | 23 |
| Director Orientation and Continuing Education | 23 |
| Active Board Oversight of Our Governance | 23 |
| Board’s Role in Strategic Planning and Risk Oversight | 23 |
| Risk Assessment of Compensation Policies and Practices | 26 |
| Meetings of Our Board & Director Engagement | 26 |
| Annual Meeting of Shareholders | 27 |
| Codes of Conduct | 27 |
| Related Party Transactions | 28 |
| Disclosure Regarding Political Activities | 29 |
| Sustainability and Social Impact | 29 |
| How We Are Organized | 33 |
| Board Leadership Structure | 33 |
| Committees of Our Board | 34 |
| How to Communicate With Us | 38 |
| We Value Input and Offer Many Means to Provide it | 38 |
| Written Communication | 38 |
| Proactive Shareholder Engagement | 38 |
| Responsiveness to Shareholder Feedback | 39 |
| How We Are Paid | 40 |
| Compensation of Directors | 40 |
| Message from Peter J. Arduini, Chair of the Compensation and Management Development Committee | 44 |
| Compensation Discussion and Analysis | 45 |
|---|---|
| Business Overview | 45 |
| Executive Pay Program | 46 |
| 2024 Named Executive Officers | 47 |
| 2024 Business Results | 47 |
| People and Culture | 49 |
| Shareholder Engagement | 52 |
| Executive Compensation Program Overview | 52 |
| 2024 Compensation Program – Named Executive Officers | 59 |
| Compensation and Management Development Committee Report | 79 |
| Tax Implications of Executive Compensation Program | 79 |
| Executive Compensation Tables | 80 |
| Pay Ratio | 95 |
| Pay Versus Performance | 96 |
| Tabular Disclosure of Pay Versus Performance | 96 |
| Pay Versus Performance Comparative Disclosure | 99 |
| Tabular Disclosure of Significant Financial and Non-Financial Performance Measures | 100 |
| Item 2—Advisory Vote to Approve the Compensation of Our Named Executive Officers | 101 |
| Equity Compensation Plan Information | 102 |
| Item 3—Ratification of the Appointment of Independent Registered Public Accounting Firm | 103 |
| Audit and Non-Audit Fees | 104 |
| Pre-Approval Policy for Services Provided by our Independent Registered Public Accounting Firm | 104 |
| Audit Committee Report | 105 |
| Shareholder Proposals | 106 |
| Item 4—Shareholder Proposal on Corporate Financial Sustainability | 106 |
| Item 5—Shareholder Proposal on a Request to Cease DEI Efforts | 110 |
| Voting Securities and Principal Holders | 113 |
| Common Stock Ownership by Directors and Executive Officers | 113 |
| Principal Holders of Voting Securities | 114 |
| Insider Trading Policy and Policy on Hedging and Pledging | 114 |
| Other Matters | 115 |
| Advance Notice Procedures | 115 |
| 2026 Shareholder Proposals | 115 |
| Availability of Corporate Governance Documents | 115 |
| Frequently Asked Questions | 116 |
| Exhibit A - Categorical Standards of Independence | A-1 |
| Meeting DetailsDate: May 6, 2025Time: 10:00 a.m. Eastern TimeLocation: Virtually | |
| Your Vote is ImportantRegardless of the number of shares you own, your vote is important. If you do not attend the Annual Meeting to vote on the virtual meeting platform, your vote will not be counted unless a proxy representing your shares is presented at the meeting. To ensure that your shares will be voted at the meeting, please vote in one of these ways: | |
| Go to www.proxyvote.com and vote via the Internet; | |
| Call the toll-free telephone number (800) 690-6903 (this call is toll-free in the U.S.); or | |
| Mark, sign, date and promptly return the enclosed proxy card in the postage-paid envelope. | |
| If you do attend the Annual Meeting, you may revoke your proxy and vote your shares on the virtual meeting platform during the meeting. |
Notice of Annual Meeting of Shareholders
Notice is hereby given that the 2025 Annual Meeting of Shareholders (the “Annual Meeting” or “2025 Annual Meeting”) will be held virtually on May 6, 2025, at 10:00 a.m. Eastern Time for the following purposes as set forth in the accompanying Proxy Statement:
| 1 | to elect to the Board of Directors the 11 persons nominated by the Board, each for a term of one year; |
| 2 | to conduct an advisory vote to approve the compensation of our Named Executive Officers; |
| 3 | to ratify the appointment of Deloitte & Touche LLP as the company’s independent registered public accounting firm for 2025; |
| 4-5 | to consider two shareholder proposals, if presented at the meeting; and |
| 6 | to transact such other business as may properly come before the meeting or any adjournments thereof. |
Holders of record of our common and preferred stock at the close of business on March 14, 2025, will be entitled to vote at the meeting.
The Annual Meeting will be held in a virtual-only meeting format. To be admitted to the Annual Meeting, you will need to visitwww.virtualshareholdermeeting.com/BMY2025 and enter the 16-digit control number included on your Important Notice Regarding the Availability of Proxy Materials, on your proxy card, or on the instructions that accompanied your proxy materials. Guests may join the Annual Meeting in a listen-only mode, but they will not have the option to vote shares or ask questions during the virtual meeting. Once admitted, you may submit questions or vote during the Annual Meeting by following the instructions that will be available on the meeting website. You may log into the meeting platform beginning at 9:50 a.m. Eastern Time on May 6, 2025. To submit a question before the meeting, visitwww.proxyvote.com with your 16-digit control number and select the “Submit a Question for Management” option. To submit a question during the meeting, visitwww.virtualshareholdermeeting.com/BMY2025, enter your 16-digit control number and type your question into the “Ask a Question” field and click “Submit.” The company will provide direct and specific information to shareholder proponents on how they can present their shareholder proposals during the meeting.
By Order of the Board of Directors
Amy Fallone
Senior Vice President and Corporate Secretary
Dated: March 26, 2025
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.