APPIO THOMAS 4
4 · Bausch Health Companies Inc. · Filed Mar 3, 2026
Research Summary
AI-generated summary of this filing
Bausch Health (BHC) CEO Thomas Appio Sells Shares
What Happened
Thomas Appio, CEO of Bausch Health (BHC), had 1,137,862 performance share units settled for cash (disposed) resulting in $6,770,279. Additionally, 83,093 and 83,705 common shares were withheld to satisfy tax-withholding obligations on vested restricted share units, valued at $492,741 and $498,045 respectively (total ≈ $990,786). These were dispositions/withholdings rather than open-market sales or purchases.
Key Details
- Transaction dates: Feb 27, 2026 (83,093 shares withheld @ $5.93, $492,741) and Mar 2, 2026 (83,705 shares withheld @ $5.95, $498,045; 1,137,862 PSUs settled @ $5.95, $6,770,279).
- Total cash received from PSU settlement: $6,770,279; total value of shares withheld for taxes: ≈ $990,786.
- Shares owned after the transactions: Not disclosed in this filing.
- Footnotes: The withheld shares were surrendered to cover tax withholding on vested RSUs (codes F1/F2). The 1,137,862 PSU settlement was paid in cash per committee action and is exempt under Rule 16b-3(e) (footnote F3).
- Filing/timeliness: Report filed Mar 3, 2026 for transactions on Feb 27 and Mar 2 — filing appears timely.
Context
This was a cash settlement of previously earned performance share units (not an open-market sale of pre-existing shares) and the share counts labeled F indicate shares withheld to cover tax obligations on vested equity. Cash settlements of earned PSUs are treated differently from purchases/sales of existing stock and are often exempt under Rule 16b-3(e). These entries are routine compensation-related dispositions rather than direct insider purchases (which are generally viewed as stronger bullish signals).
Insider Transaction Report
- Tax Payment
Common Shares, No Par Value
[F1]2026-02-27$5.93/sh−83,093$492,741→ 3,536,941 total - Tax Payment
Common Shares, No Par Value
[F2]2026-03-02$5.95/sh−83,705$498,045→ 3,453,236 total - Other
Common Shares, No Par Value
[F3]2026-03-02$5.95/sh−1,137,862$6,770,279→ 2,315,374 total
Footnotes (3)
- [F1]This number represents common shares, no par value, of the Issuer withheld to satisfy the tax withholding obligations due upon vesting of Restricted Share Units.
- [F2]This number represents common shares, no par value, of the Issuer withheld to satisfy the tax withholding obligations due upon vesting of Restricted Share Units.
- [F3]Reflects the settlement in cash of 1,137,862 performance share unit awards originally granted to the Reporting Person under the Bausch Health Companies, Inc. 2014 Omnibus Incentive Plan on March 2, 2023, which, as previously reported on February 11, 2026, were earned, on February 9, 2026, upon certification by the Talent and Compensation Committee (the "Committee") of the Board of Directors of the Issuer of the level of achievement of the applicable performance metrics, but remained subject to service-based vesting. As disclosed in the Issuer's Current Report on Form 8-K filed with the Securities and Exchange Commission on March 2, 2026, the Committee subsequently took action to provide for the payment of such earned performance share unit awards in cash rather than Issuer common stock upon vesting. The settlement in cash is exempt under Rule 16b-3(e).