Bausch Health Companies Inc. 8-K

What Happened
Bausch Health Companies Inc. announced on February 26, 2026 that the Talent and Compensation Committee amended the settlement terms for certain earned 2023 performance share units (2023 PSUs) so they will be paid in cash rather than stock upon vesting. The 2023 PSUs were originally granted in March 2023, earned over a three-year performance period and were scheduled to vest on March 3, 2026. The company amended the award agreement for Thomas Appio and entered into a separate agreement with Seana Carson to effect cash-only settlements.

Key Details

• Thomas Appio: 1,137,862 2023 PSUs amended to be settled solely in cash equal to the Market Price (closing stock price on the March 3, 2026 vesting date).
• Seana Carson: 137,922 2023 PSUs will be irrevocably surrendered to the company in exchange for cash under paragraph 7(1)(b) of the Income Tax Act (Canada).
• Original grant: March 2023; performance period: three years; Vesting Date: March 3, 2026.
• Full text of the Appio and Carson agreements will be filed in the company’s Form 10-Q for the quarter ending March 31, 2026.

Why It Matters
A cash settlement instead of stock reduces potential share dilution (no new shares issued for these PSUs) but creates a cash obligation for Bausch Health when the awards vest. The filing does not state the dollar payout — amounts will depend on the closing stock price on the March 3, 2026 vesting date — so investors should watch for the Form 10-Q and any related disclosures for the actual cash impact.