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BDX > SEC Filings for BDX > Form 8-K on 8-Jul-2013All Recent SEC Filings

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Form 8-K for BECTON DICKINSON & CO


8-Jul-2013

Change in Directors or Principal Officers, Financial Statements and Exhibit


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On June 28, 2013, Becton, Dickinson and Company ("BD") elected Christopher R. Reidy, 55, as Chief Financial Officer and Executive Vice President of Administration, effective July 15, 2013, succeeding Suketu Upadhyay, who has served as BD's interim Chief Financial Officer since November 2012. Mr. Reidy previously served as Vice President and Chief Financial Officer of ADP Corporation from 2006 to 2012. Effective July 15, 2013, Mr. Upadhyay will have expanded responsibilities across BD's finance organization and will assume the title of Senior Vice President, Finance. He will continue to serve as BD's principal accounting officer.

Mr. Reidy will receive a base salary of $675,000, and his target annual incentive award under BD's Performance Incentive Plan will be 85% of salary, which will be pro-rated for fiscal year 2013. Mr. Reidy will also receive an equity compensation award in fiscal year 2014 with a grant date value of $2 million. Mr. Reidy and BD will also enter into an agreement providing for his continued employment for a period of two years following a change of control of BD, with a severance multiple of two times salary and bonus, similar to agreements with other executive officers that have been previously disclosed.

A copy of the press release issued by BD in connection with this election is attached hereto as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits

Exhibit 99.1 Press release dated July 8, 2013, which is furnished pursuant to Item 5.02.


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