Shibutani Hiroshi Chris 4
4 · BRISTOL MYERS SQUIBB CO · Filed Mar 12, 2026
Research Summary
AI-generated summary of this filing
Bristol Myers (BMY) EVP Hiroshi C. Shibutani Receives Award
What Happened Hiroshi Chris Shibutani, EVP and Chief Strategy Officer of Bristol Myers Squibb (BMY), was granted two sets of performance-based derivative awards on 2026-03-10: 7,837 market share units and 11,755 performance share units, for a total of 19,592 units. The awards are recorded at $0.00 per unit (no cash paid) and are coded as grants/awards (transaction code A). These are not open-market purchases or sales but equity compensation subject to performance and vesting conditions.
Key Details
- Transaction date: 2026-03-10; Form 4 filed 2026-03-12 (appears timely).
- Award amounts: 7,837 units and 11,755 units (total 19,592 units); price reported $0.00 (derivative awards).
- Post-transaction beneficial ownership: not disclosed in the filing.
- Footnotes / material terms:
- F1: These are market share/performance units that convert to common shares based on a payout factor tied to Total Return and relative Total Shareholder Return (rTSR). Total Return payout factor ranges from 80% to 225% (for the Total Return component). The rTSR floor can provide a minimum payout based on peer percentile: <50th = 0%, 50th–74.99th = 50%, ≥75th = 100%.
- F2: Market share units cliff-vest on the third anniversary of the grant, subject to Board certification of performance results.
- F3: Performance share units convert into one share of common stock upon distribution in Q1 2029, subject to Board certification.
- Filing includes Exhibit 24 (Power of Attorney). No 10b5-1 plan, tax withholding, or sale/transfer instructions are indicated.
Context These are performance- and time‑based compensation awards intended to align executive pay with long-term shareholder returns. Because they are derivative awards with multi-year performance/vesting conditions and no cash exchanged, they do not represent an immediate purchase or sale of stock.
Insider Transaction Report
- Award
Market Share Units
[F1][F2]2026-03-10+7,837→ 7,837 totalExp: 2029-03-10→ Common Stock, $0.10 par value (7,837 underlying) - Award
Performance Shares
[F3]2026-03-10+11,755→ 11,755 totalExp: 2029-03-10→ Common Stock, $0.10 par value (11,755 underlying)
Footnotes (3)
- [F1]Each market share unit converts into the number of shares of common stock determined by applying a payout factor to the target number of shares vesting on a given date. The payout factor is the greater of Total Return and relative total shareholder return (rTSR) Floor. Total Return is a ratio of the 10-day average closing stock price on the measurement date, plus the value of accumulated dividends, divided by the average stock price on the grant date (also a 10-day average). The minimum payout factor for Total Return performance that must be achieved to earn a payout is 80% and the maximum is 225%. The rTSR Floor feature provides a minimum level of payout if BMS stock price declines from the grant date but outperforms our peers based on their TSR percentile rank. A TSR percentile rank (i) below the 50th percentile yields a 0% payout, (ii) between the 50th and 74.99th percentiles yields a 50% payout, and (iii) at or above the 75th percentile yields a 100% payout.
- [F2]These market share units cliff vest on the third anniversary of the grant date, subject to certification of performance results by the Board.
- [F3]Each performance share unit converts into one share of common stock upon distribution in the first quarter of 2029, subject to certification of performance results by the Board.