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BSX > SEC Filings for BSX > Form 8-K on 16-Dec-2013All Recent SEC Filings

Show all filings for BOSTON SCIENTIFIC CORP

Form 8-K for BOSTON SCIENTIFIC CORP


16-Dec-2013

Change in Directors or Principal Officers, Financial Statements and Exhibi


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

(d) Election of Directors

On December 10, 2013, the Board of Directors (the "Board") of Boston Scientific Corporation (the "Company"), upon the recommendation of the Nominating and Governance Committee, increased the number of directors comprising the Board from ten to eleven and appointed David Roux as a director of the Company, filling the vacancy, to hold office until the next annual meeting of stockholders, in each case, effective January 1, 2014.

Under the Company's non-employee director compensation program (the "Program"), Mr. Roux will receive standard non-employee director compensation, prorated for the time period from the effective date of Mr. Roux's appointment to the date of the Company's 2014 annual meeting of stockholders, which includes (i) a cash retainer of $25,500 (representing the prorated amount of the Program's annual cash retainer of $75,000) and (ii) a restricted stock grant valued at $59,500 (representing the prorated amount of the Program's annual grant of restricted stock having a value of $175,000) vesting at the end of his term. The actual number of shares of restricted stock to be granted to Mr. Roux will be determined by dividing $59,500 by the closing price of the Company's common stock on the date of grant, February 3, 2014, which is the first business day of the month following the month in which he was appointed.

In connection with Mr. Roux's appointment to the Board, the Company intends to enter into an indemnification agreement with Mr. Roux in substantially the same form as the Company has entered into with each of the Company's existing directors and as previously filed with the Securities and Exchange Commission.

A copy of our press release announcing Mr. Roux's appointment is filed herewith as Exhibit 99.1 and is incorporated herein by reference.



Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.                                 Description

99.1           Press Release issued by Boston Scientific Corporation dated
               December 16, 2013.


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