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SEC Filings / Section 16 Reports

DEF 14A
BECTON DICKINSON & CO filed this Form DEF 14A on 12/03/2018
Entire Document
 

SAR Exercises and Vesting of Stock Units
The following table contains information relating to the exercise of SARs, and the vesting of TVUs and Performance Units, during fiscal year 2018.
SAR Exercises and Stock Vested in Fiscal Year 2018
 
 
SAR Awards
 
 
Stock Awards
 
Name
Number of
Shares Acquired
on Exercise (#)
 
Value
Realized on
Exercise ($)(1)
 
Number of
Shares Acquired
on Vesting (#)(2)
 
Value
Realized on
Vesting ($)(3)
Vincent A. Forlenza
0

 
 
0

 
 
55,125

 
 
12,473,685

 
Christopher R. Reidy
0

 
 
0

 
 
14,152

 
 
3,004,772

 
Patrick K. Kaltenbach
0

 
 
0

 
 
0

 
 
0

 
Samrat S. Khichi
0

 
 
0

 
 
0

 
 
0

 
Thomas E. Polen
2,775

 
 
327,561

 
 
6,823

 
 
1,543,908

 
 
 
 
 
 
 
 
 
 
 
 
 

(1)
Represents the difference between the exercise price and the BD common stock price at exercise. Mr. Polen’s exercise of 2,775 SARs resulted in the acquisition of 1,443 shares.

(2)
Shows the shares acquired under TVUs, and under Performance Units covering the fiscal year 2015-2017 performance period, that vested in fiscal year 2018. Mr. Reidy elected to defer 873 shares from his vested TVU.
(3)
Based on the closing price of BD stock on the vesting date.

Other Compensation
Retirement Benefits
General
BD’s Retirement Plan is a non-contributory defined benefit plan. The Internal Revenue Code limits the maximum annual benefit that may be paid to an individual under the Retirement Plan and the amount of compensation that may be recognized in calculating these benefits. BD makes supplemental payments to its nonqualified Restoration Plan to offset any reductions in benefits that result from these limitations.
The Retirement Plan and the Restoration Plan generally provide retirement benefits on a “cash balance” basis. Under the cash balance provisions, an associate has an account that is increased by pay credits based on compensation, age and service, and by interest credits based on a prescribed rate.
Prior to January 1, 2013, benefits were based on a “final average pay” formula for associates who were hired before April 1, 2007 and who did not elect to be covered under the cash balance formula. Effective January 1, 2013, all final average pay participants were converted to the cash balance formula, with an opening cash balance equal to the actuarial present value of the accrued final average pay benefit, based on service and pay through December 31, 2012. Upon retirement, the value of this opening cash balance (with interest credits) is compared to the value of the December 31, 2012 benefit accrued under the final average pay formula and the greater of the two is payable to the participant. Benefits accrued after December 31, 2012 are determined under the cash balance formula only.
Prior to January 1, 2018, the Retirement Plan was generally available to all active full-time and part-time U.S. BD associates. Effective January 1, 2018, the Retirement Plan was frozen, and persons hired or rehired by BD after that date (including Messrs. Kaltenbach and Khichi) do not accrue pension benefits under the plan.
As an employee of Bard, Mr. Khichi participated in Bard's Supplemental Insurance/Retirement Plan, or “SIRP". The SIRP provided supplemental death and retirement benefits to selected key employees, including Mr. Khichi. In connection with the

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