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Abbott laboratories investing businessweek karyn rich dad poor dad financial statement

Abbott laboratories investing businessweek karyn

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USA Today 4d. Benzinga 4d. Seeking Alpha 4d. Abbott Laboratories Historical Prices Feb. Download Reset. Lowest: SOE 4. Revenue or per share e. Source: FactSet. Abbott Laboratories Stock Snapshot Abbott Laboratories Profile Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of health care products. The Established Pharmaceutical Products segment refers to the international sales of a line of branded generic pharmaceutical products.

The Nutritional Products segment caters to the worldwide sales of adult and pediatric nutritional products. The Diagnostic Products segment markets diagnostic systems and tests for blood banks, hospitals, commercial laboratories, and alternate-care testing sites. The Medical Devices segment includes electrophysiology, heart failure, vascular and structural heart devices for the treatment of cardiovascular diseases, and diabetes care products for people with diabetes, as well as neuromodulation devices for the management of chronic pain and movement disorders.

The score provides a forward-looking, one-year measure of credit risk, allowing investors to make better decisions and streamline their work ow. Starks Independent Director Darren W. Stratton Independent Director Michael F. Roman Independent Director Michelle A. Alpern Independent Director Sally E. Blount Independent Director William A.

The Compensation Committee annually reviews the compensation paid to the members of the Board and gives its recommendations to the full Board regarding both the amount of director compensation that should be paid and the allocation of that compensation between equity-based awards and cash. In recommending director compensation, the Compensation Committee takes comparable director fees into account and reviews any arrangement that could be viewed as indirect director compensation.

This Committee also reviews, approves, and administers the incentive compensation plans in which any executive officer of Abbott participates and all of Abbott's equity-based plans. It may delegate the responsibility to administer and make grants under these plans to management, except to the extent that such delegation would be inconsistent with applicable law or regulation or with the listing rules of the New York Stock Exchange.

The processes and. Meridian performs no other work for Abbott. The Committee engages compensation consultants to provide counsel and advice on executive and non-employee director compensation matters. The consultant and its principal report directly to the Chair of the Committee. The principal meets regularly and as needed with the Committee in executive sessions, has direct access to the Chair during and between meetings, and performs no other services for Abbott or its senior executives.

The Committee determines what variables it will instruct the consultant to consider, and they include: peer groups against which performance and pay should be examined, financial metrics to be used to assess Abbott's relative performance, competitive long-term incentive practices in the marketplace, and compensation levels relative to market practice.

The Committee negotiates and approves any fees paid to the consultant for these services. Based on its evaluation of Meridian's independence in accordance with the New York Stock Exchange listing standards and information provided by Meridian, the Committee determined that the work performed by Meridian does not present any conflicts of interest. A copy of the Compensation Committee report is on page Nominations and Governance Committee. The Nominations and Governance Committee assists the Board of Directors in identifying individuals qualified to become Board members and recommends to the Board the nominees for election as directors at the next annual meeting of shareholders; recommends to the Board the people to be elected as executive officers of Abbott; develops and recommends to the Board the corporate governance guidelines applicable to Abbott; and serves in an advisory capacity to the Board and the Chairman of the Board on matters of organization, management succession plans, major changes in the organizational structure of Abbott, and the conduct of Board activities.

The process used by this Committee to identify a nominee to serve as a member of the Board of Directors depends on the qualities being sought. The process used by the Committee to identify nominees is described on page 19 in the section captioned, "Director Selection. Public Policy Committee. The Public Policy Committee assists the Board of Directors in fulfilling its oversight responsibility with respect to Abbott's public policy, certain areas of legal and regulatory compliance, and governmental affairs and healthcare compliance issues that affect Abbott.

Executive Committee. The Executive Committee may exercise all the authority of the Board in the management of Abbott, except for matters expressly reserved by law for Board action. The General Counsel and Corporate Secretary regularly forwards to the addressee all letters other than mass mailings, advertisements, and other materials not relevant to Abbott's business.

In addition, directors regularly receive a log of all correspondence received by the Company that is addressed to a member of the Board and may request any correspondence on that log. Abbott's remaining directors, who are all non-employee directors, are compensated for their service under the Abbott Laboratories Non-Employee Directors' Fee Plan and the Abbott Laboratories Incentive Stock Program. The following table sets forth a summary of the non-employee directors' compensation. Fees earned under the Abbott Laboratories Non-Employee Directors' Fee Plan are paid in cash to the director, paid in the form of vested non-qualified stock options based on an independent appraisal of their fair value , deferred as a non-funded obligation of Abbott , or paid currently into an individual grantor trust established by the director.

The distribution of deferred fees and amounts held in a director's grantor trust generally commences when the director reaches age 65, or upon retirement from the Board of Directors, if later. The director may elect to have deferred fees and fees deposited in trust credited to either a guaranteed interest account or to a stock equivalent account that earns the same return as if the fees were invested in Abbott stock. If necessary, Abbott contributes funds to a director's trust so that as of year-end the stock equivalent account balance net of taxes is not less than seventy-five percent of the market value of the related common stock at year-end.

Abbott determines the grant date fair value of stock unit awards by multiplying the number of restricted stock units granted by the average of the high and low market prices of an Abbott common share on the date of grant. In , this was 3, units.

The non-employee directors receive cash payments equal to the dividends paid on the shares covered by the units at the same rate as other shareholders. Upon termination, retirement from the Board, death, or a change in control of Abbott, a non-employee director will receive one share of common stock for each restricted stock unit outstanding under the Incentive Stock Program. The following Abbott restricted stock units were outstanding as of December 31, R.

Alpern, 25,; R. Austin, 32,; S. Liddy, 20,; N. McKinstry, 18,; P. Novakovic, 20,; W. Osborn, 27,; S. Scott III, 28,; D. Starks, 3,; and G. Tilton, 28, The table below reflects the number of Abbott common shares beneficially owned as of January 31, by i each director, and ii the Chief Executive Officer, the Chief Financial Officer, and the other current and former executive officers listed in the Summary Compensation Table collectively, the "named officers" , and iii all directors, named officers, and executive officers of Abbott as a group.

It also reflects the number of stock equivalent units held by non-employee directors under the Abbott Laboratories Non-Employee Directors' Fee Plan and restricted stock units held by non-employee directors, named officers, and executive officers. None of the directors, named officers, or executive officers has pledged shares. While the Summary Compensation Table on page 44 provides the required disclosures for this proxy statement, we will also discuss the LTI grant made in February , since that grant was based on performance.

Rousseau and Mr. Fain left during In , Abbott achieved outstanding returns to shareholders, ranking 1 in our peer group. In addition, Abbott:. At a corporate level, all financial goals for officers were overachieved. This includes:. As a result of the significant overachievement of these key financial and strategic goals, Abbott's market capitalization nearly doubled during In February , our Compensation Committee made pay decisions for our executive officers based on the design of our programs and our extremely strong performance in The results of those pay decisions were as follows:.

It is important to understand the effect of the "lag" in the Summary Compensation Table, resulting from SEC proxy disclosure rules. Specifically, the amounts shown on page 44 reflect the annual bonus for performance. However, the LTI awards shown in the table are for performance and were granted in February During , despite strong operational results and the initiation of important strategic actions, Abbott's returns to shareholders on a 1-, 3- and 5-year basis were in the lower quartile relative to our peers.

Consistent with Abbott's philosophy to align LTI compensation with TSR performance, these relatively lower total shareholder returns resulted in significantly below market long-term incentive grants for Due to the significantly different LTI amounts granted in using the 25th percentile guidelines vs. The program is designed to be:. In those meetings, we discussed our pay programs broadly, including aspects that were previously subject to shareholder resolutions.

Based on shareholder discussions and recommendations, the Committee, during its annual evaluation of the Company's compensation programs and evolving market practices, made several changes to our programs. Implemented a one-year minimum vesting period for long-term incentive grants These recent changes continue our practice of evolving our program based upon shareholder feedback as well as a review of market practices.

Over the past several years, we have made numerous other changes to our program, including:. The Committee ensures the compensation delivered to our executives is competitive, based on performance, balanced between the short- and long-term, aligned with shareholder interests, and does not encourage excessive risk-taking.

To determine the competitiveness of our compensation and benefit programs, the Committee, in consultation with its independent consultant, annually compares the level of compensation, market pay practices, and our relative performance to those of peer companies. Our shareholders compare us to other global multinational companies, only some of which are in healthcare. These companies share similar characteristics aligned with our investment identity of diversified growth, returns to shareholders, and capital structure.

Consistent with our prior approach, our peer group was selected to strike the appropriate balance between size both revenues and market capitalization , return profiles, geographic breadth, and management and operating structure and has been overwhelmingly supported by our investors during shareholder outreach. The peer group purposely includes companies that are outside the healthcare industry. In selecting our peer group for performance and compensation benchmarking, we considered:.

This peer group is summarized below, showing the primary characteristics for which each company was selected. Base salary targets are set using the median of the peer group as an initial benchmark. Specific pay rates are based on an executive's performance, experience, contribution, unique skills, and internal equity with others at Abbott.

Base salaries range from the 10 th to the 90 th percentile of the peer group, depending on experience, expertise, unique role requirements, and tenure. The average base salary of our executive officers was approximately at the market median.

Once the rate of pay is set at the time of hire or upon promotion, subsequent changes in pay, including salary increases, are based on the executive's performance, the job he or she is performing, internal equity, and the Company's operating budget. Abbott's primary performance-based compensation programs for executive officers are the annual cash incentive plan and the long-term incentive plan.

These plans are described in more detail on the following pages. While both plans are formula-driven based on specific operating, strategic, and leadership results, the performance criteria differs in terms of the measures and the performance period. It is important to note that officer financial goals are based on adjusted measures that reflect the true results of our ongoing operations, which is what our investors focus on and invest in.

Our annual cash incentive plan is a key part of our officers' total compensation. It rewards executives for achieving specific annual goals at the corporate and divisional levels. It also rewards executives for achieving operational and strategic goals. During , Abbott's seven named officers participated in the Abbott Laboratories Performance Incentive Plan PIP , which was designed to comply with the requirements of Section m of the Internal Revenue Code of for performance-based compensation.

Annual Cash Incentives Are Capped. Each year, the Committee sets the maximum award allocations under the PIP for each named officer as a percentage of consolidated net earnings. For , the maximum award for the Chief Executive Officer was 0. Historically and in , the Committee exercised its discretion to deliver PIP awards that were substantially below the maximum awards that are authorized by these formulas based on achieved performance against annual goals and other factors described below.

Process to Determine Awards. Under the PIP, the Committee sets a target payout expressed as a percentage of base salary for each officer based upon market benchmarks and internal equity. The final payout is determined based upon operating performance relative to annual goals. This process is described below. Step Two: Assess Individual Performance vs. Individual goals are finalized at the beginning of each year based upon each executive officer's responsibilities.

The weighting of goals depends upon whether the executive is a Business Unit leader or a Corporate leader, as follows:. To exceed a target payout in Sales Growth, the business must grow market share, exceeding both peer sales growth rates and Abbott's internal targets. This approach sets a very high bar and is more rigorous than market practice. To stress the importance of profitability, each officer is assessed on relevant return goals, primarily earnings, margin contribution, and cash flow.

These goals are focused on stabilizing business leadership gaps, ensuring businesses have the talent they need to perform in the current period, and building our leadership bench to sustain our performance. Based on performance against goals, cash incentive payouts ranged from the 10 th percentile to the 90 th percentile of our peer group. The average cash incentive payout for our executive officers was at the 56 th percentile of our peer group, consistent with strong performance in Our long-term incentive plan is the largest component of our executive officers' total compensation.

As such, we believe it is critical that LTI performance goals reflect Company and individual performance, on both an absolute and relative basis. The LTI process used in February described below resulted in annual grants to executive officers ranging from the 5 th percentile to the 51st percentile of our peer group, with an average of the 27 th percentile. A preview of the February grant which will be disclosed in our Summary Compensation table is also described below.

Our process for determining guidelines, individual awards, and vesting of those awards incorporates:. This process is far more rigorous than automatically granting LTI at the median of the market and adjusting the awards only for relative TSR at the end of the performance cycle to determine the extent to which awards vest.

We followed a rigorous two-stage process to determine the size of LTI awards ultimately granted to our executive officers:. In order to determine LTI awards, Abbott follows three steps. While most of our peer companies simply set their annual LTI level at the 50 th percentile of market, the following chart shows definitively how we adjust our LTI grant guidelines to align with our relative TSR performance.

For example, guidelines for grants made in February were set at the 25 th percentile of our peer group as illustrated in the Performance Year consistent with our relatively lower TSR vs. Conversely, guidelines for grants made in February were set at the 75 th percentile of our peer group, reflecting very strong TSR vs. The variability produced by this process illustrates the direct alignment of our officers' pay with our shareholders' returns.

Individual officer awards are then further adjusted up or down based upon assessment of their achievement of individual goals related to. Each officer is assigned an overall score based on whether they missed, achieved, or exceeded the specific targets in all three measures for all three years. That resulting assessment score determines the LTI performance adjustment.

These awards resulted in annual grants to Abbott executive officers ranging from the 5 th percentile to the 51 st percentile of our peer group, with an average of the 27 th percentile. These awards resulted in annual grants to Abbott executive officers ranging from the 24 th percentile to the 90 th percentile of our peer group, with an average of the 77 th percentile. This mix is consistent with the practices of our peer group with respect to performance-based equity grants and was continued for our grants in Stock options vest over three years.

Since stock options only accrue value through share price appreciation, the value realized upon the exercise of vested stock options directly aligns the compensation earned with the value shareholders received over the same period of time. Options are also aligned with shareholder value through the impact of relative TSR in determining the size of awards granted Stage One.

There is no partial vesting if the target is missed or additional vesting upside if the Company over-performs. The Committee believes adjusted return on equity ROE is the appropriate performance measure for vesting because ROE measures how much profit the Company generates over the long-term with the capital that shareholders have invested and is a measure reflecting deployment of capital or capital allocation.

Although Company TSR performance and individual officer performance are used in Stage One to grant the appropriate award level, the focus on ROE for vesting provides a second shareholder protection to ensure our growth and investment return objectives are sustained after the initial grant is made.

ROE is only used for vesting; it is not used in the determination of LTI award guidelines or individual officer performance. There was a similar impact on other rate of return measures, including Return on Assets. The following pages highlight the rationale for the pay decisions for each named officer. It is important to note that annual incentive pay decisions were made in early based on results.

Long-term incentive decisions options and performance shares shown in the Summary Compensation Table of this proxy statement were made in early based on results see prior year proxy statement for discussion of results. Specific financial goals are detailed on page Miles D. White last received a base salary increase in Based on performance in , Mr.

This award reflects a significant reduction in his award vs. The award also reflects Abbott's sustained strong financial returns under Mr. White's leadership, including exceeding its adjusted diluted EPS growth commitments and consistently meeting or beating earnings targets annually for the past 15 years.

Additional details regarding that award will be included in Abbott's proxy statement. Brian B. In addition to the calculations derived from the scoring of financial and strategic goals, the plan allows further adjustments up or down by the Compensation Committee to reflect achievements not anticipated when goals were set. For , the Committee adjusted Mr.

This award reflects Abbott's and Mr. Yoor's strong performance during Allen's strategic and leadership goals for included achieving key litigation and compliance initiatives, licensing and acquisition objectives, and successful integration activities. Allen's strong performance during Robert B. This payout reflects significant overachievement of financial and strategic goals. Ford's strategic and leadership goals for included achieving key product approvals, successful integration of St.

Jude Medical, and market share growth objectives. Ford's strong performance during Daniel G. This payout reflects Salvadori's strategic and leadership goals for included achieving new product development, market share growth, and talent related goals. Salvadori's strong performance during Michael T. Jude Medical merger agreement. Based on the terms of his retention agreement, Mr. Rousseau did not receive an LTI award in Eric S.

Jude Medical. The results shown below reflect the financial goals and results for the Named Officers. Jude Medical acquisition. Adjusted Sales exclude the impact of foreign exchange on actual sales relative to the goal target. Adjusted Diluted EPS is diluted earnings per common share from continuing operations excluding specified items.

Adjusted Net Income is earnings from continuing operations excluding specified items. The calculations of Adjusted Return on Assets and Adjusted Return on Equity reflect adjusted net earnings from continuing operations. The calculation of Adjusted Return on Equity also excludes the impact of foreign exchange on equity relative to the goal target.

Adjusted Free Cash Flow is operating cash flow less capital expenditures. Each of the benefits described below was designed to support the Company's objective of providing a competitive total pay program. Individual benefits do not directly affect decisions regarding other benefits or pay components, except to the extent that benefits and pay components must, in aggregate, be competitive, as previously discussed. Roussseau and Mr. Fain who joined Abbott as a part of the St. Jude Medical acquisition and are not eligible for these programs.

These plans are described in greater detail in the "Pension Benefits" section of the proxy. Since officers' Supplemental Pension Plan benefits cannot be secured in a manner similar to qualified plans, which are held in trust, officers receive an annual cash payment equal to the increase in present value of their Supplemental Pension Plan benefit.

Officers have the option of depositing these annual payments to an individually established grantor trust, net of tax withholdings. Amounts deposited in the individual trusts are not tax deferred. Officers do not receive tax gross-ups on their grantor trusts.

The manner in which the grantor trust will be distributed to an officer upon retirement from the Company generally follows the manner elected by the officer under the Annuity Retirement Plan. Should an officer or the officer's spouse, depending upon the pension distribution method elected by the officer under the Annuity Retirement Plan live beyond the actuarial life expectancy age used to determine the Supplemental Pension Plan benefit and, therefore, exhaust the trust balance, the Supplemental Pension Plan benefit will be paid by the Company.

Fain and Mr. Rousseau who are eligible to participate in the legacy St. Jude Medical Management Savings Plan which provides matching payments for employees whose annual salary, commission and bonus exceed the IRS qualified plan limits. Unlike other U. Officers may defer these amounts to unfunded book accounts or choose to have the amounts paid in cash on a current basis and deposited into individually established grantor trusts, net of tax withholdings.

These amounts are credited annually with earnings. Officers elect the manner in which the assets held in their grantor trusts will be distributed to them upon retirement or other separation from the Company. White, Mr. Fain do not have Abbott change in control agreements. The other named officers have Abbott change in control agreements, the purpose of which is to aid in retention and recruitment, encourage continued attention and dedication to assigned duties during periods involving a possible change in control of the Company, and protect the earned benefits of the officer against adverse changes resulting from a change in control.

The level of payments provided under the agreements is established to be consistent with market practices as confirmed by data provided to the Committee by its independent compensation consultant. These arrangements are described in greater detail in the "Potential Payments Upon Termination or Change in Control" section of this proxy.

If an officer chooses to utilize this benefit, fees for services received up to the annual allocation are paid by the Company and are treated as imputed income to the officer, who then is responsible for payment of all taxes due on the fees paid by the Company.

White are covered by a time-sharing lease agreement, pursuant to which incremental costs associated with those flights are reimbursed by the executive to the Company in accordance with Federal Aviation Administration regulations.

To further promote sustained shareholder return and to ensure the Company's executives remain focused on both short- and long-term objectives, the Company has established share ownership guidelines. All named officers with 5 years' tenure in their current position meet or exceed the guidelines. Directors and officers are prohibited from entering into or engaging in any financial transaction that is designed to reduce the financial risk associated with owning Abbott stock.

These financial transactions include, but are not limited to, engaging in short sales, derivative transactions such as equity swaps, straddles, puts, or calls , and hedging or monetizing transactions such as collars, exchange funds, or prepaid forward variable contracts that are linked directly to Abbott stock.

Directors and officers are prohibited from holding Abbott stock in a margin account, pledging Abbott stock, or otherwise securing any of their obligations by assigning Abbott stock as collateral. The Compensation Committee, or its delegate, may grant an exception provided that:. In , following discussions by management with shareholders, the Compensation Committee implemented a recoupment policy. The Compensation Committee has broad discretion to administer and implement the policy and seek recoupment of equity or cash incentive awards if it determines that a senior executive engaged in misconduct or failed in a supervisory capacity, resulting in a material violation of law or Abbott policy that causes significant financial harm to Abbott.

The Compensation Committee may recover incentive compensation awarded to a senior executive in the prior three years or reduce future awards. The policy will not affect awards made prior to its effective date or following a change in control. The Committee considers the deductibility of executive compensation under Internal Revenue Code Section m and reserves the flexibility to take actions that may be based on considerations in addition to tax deductibility.

The Committee believes that shareholder interests are best served by not restricting the Committee's discretion and flexibility in crafting compensation programs, even if such programs may result in certain non-deductible compensation expenses. Accordingly, Abbott may provide compensation that is not deductible. The Committee has reviewed and discussed the Compensation Discussion and Analysis with management and has recommended to the Board that the Compensation Discussion and Analysis be included in this proxy statement.

Compensation Committee R. Austin, Chair E. Liddy P. Novakovic W. Osborn S. Scott III. Abbott's risk assessment is reinforced by Abbott's adherence to a number of industry-leading best practices, including:. Based on this assessment, Abbott determined its compensation and benefit programs appropriately align employees' compensation and performance without incentivizing risky behaviors. Any risk arising from its compensation policies and practices is not reasonably likely to have a material adverse effect on Abbott or its shareholders.

The following factors were among those considered:. This assessment was discussed with the Compensation Committee and its independent compensation consultant. The Committee and the consultant both agreed with the assessment. For Messrs. White and Yoor, the amounts shown alongside the officer's name are for , , and , respectively.

For the other named officers, the amounts shown are for Abbott Laboratories Annuity Retirement Plan. Abbott Laboratories Supplemental Pension Plan. The totals in this column include reportable interest credited under the Abbott Laboratories Performance Incentive Plan, the Abbott Laboratories k Supplemental Plan, and the Abbott Laboratories Management Incentive Plan although none of the named officers currently receives awards under this plan.

Earnings on Non-Qualified Defined Contribution Plans net of the reportable interest included in footnote 7. Each of the named officers' awards under the Abbott Laboratories Performance Incentive Plan is paid in cash to the officer on a current basis. Each of the named officers, other than Messrs.

Salvadori and Rousseau, have grantor trusts into which the awards may be deposited, net of maximum tax withholdings. Certain of the named officers also have grantor trusts in connection with the Abbott Laboratories k Supplemental Plan and the Abbott Laboratories Management Incentive Plan although none of the named officers currently receives awards under the Management Incentive Plan.

These amounts include the trusts' earnings net of the reportable interest included in footnote 7. Employer Contributions to Defined Contribution Plans. These amounts include employer contributions to Abbott's tax-qualified defined contribution plans, for Messrs.

Management Savings Plan. The named officers have these amounts paid to them in cash on a current basis and deposited into a grantor trust established by the officer, net of maximum tax withholdings. Employer contributions to the Management Savings Plan are described in footnote 1 of the Nonqualified Deferred Compensation Table on page White's non-business-related flights on corporate aircraft are covered by a time-sharing lease agreement, pursuant to which he reimburses Abbott for certain costs associated with those flights in accordance with Federal Aviation Administration regulations.

Abbott determines the incremental cost for flights based on the direct cost to Abbott, including fuel costs, parking, handling and landing fees, catering, travel fees, and other miscellaneous direct costs. For Mr. Abbott determines the cost for these expenses based on its actual costs. The security is provided on the recommendation of an independent security study.

Also included in the totals shown in the table is the cost of providing a corporate automobile less the amount reimbursed by the officer: B. Yoor, Allen, and Salvadori, the following costs associated with financial planning are included: B. Rousseau and Fain, the following amounts are included: i pursuant to, or in place of payments due under, their respective previous St. Jude Medical change in control agreements: A cash payments upon termination of employment: M. Jude Medical: E. The named officers, other than Messrs.

Rousseau and Fain, are also eligible to participate in an executive disability benefit described on page Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. Relative TSR Percentile vs. Alpern, M. Currently Abbott is the only U. Recognized by Working Mother, Diversity Inc. Director since Age 56 Dean of the J. Paul, Minnesota Medical Device Manufacturer. JOHN G. The Board of Directors has determined that Edward M.

Liddy, the Audit Committee's Chair, is an "audit committee financial expert. Blount, 18,;. Austin, 20,; W. Farrell, 6,; E. Liddy, 19,; N. McKinstry, 24,; P. Novakovic, 77,; W. Osborn, 21,; and S. Scott III, 18, The amounts reported in this column include charitable matching grant contributions, as follows: R. White, 32,; B. Yoor, 2,; and all executive officers as a group, 54, Each officer has shared voting power and sole investment power with respect to the shares held in his or her account.

Blount, 18,; E. Starks, 3,; G. Tilton, 28,; and all directors as a group, , The table does not include the shares held by the trusts. As of January 31, , these trusts owned a total of 31,, 1. Outside U. The market cap reflects values on December 31, Compensation Committee chaired by independent, non-employee director Representation from the Audit Committee on the Compensation Committee Review of executive compensation programs by the Compensation Committee's independent consultant Robust review of compensation program elements and key performance drivers Detailed measurement of short- and long-term compensation elements, and related performance metrics and requirements, to ensure balance Incorporation of multiple program requirements that mitigate excessive risk-taking e.

Jude Medical proceeding and his planned transition period complete, Mr. Rousseau left Abbott on July 7, Fain left Abbott on July 21, Rousseau's successful completion of his planned transition period under the terms of a retention agreement entered into in connection with Abbott's acquisition of St. Abbott determines grant date fair value by multiplying the number of shares granted by the average of the high and low market prices of an Abbott common share on the award's date of grant.

These amounts were determined as of the option's grant date using a Black-Scholes stock option valuation model. These amounts are being reported solely for the purpose of comparative disclosure in accordance with the Securities and Exchange Commission's rules. There is no certainty that the amount determined using a Black-Scholes stock option valuation model would be the value at which employee stock options would be traded for cash.

Non-Qualified Defined Contribution Plan Earnings The totals in this column include reportable interest credited under the Abbott Laboratories Performance Incentive Plan, the Abbott Laboratories k Supplemental Plan, and the Abbott Laboratories Management Incentive Plan although none of the named officers currently receives awards under this plan. Other Compensation Mr. The amounts reported in this column are calculated by subtracting the change in pension value reported in the Change in Pension Value and Non-qualified Deferred Compensation Earnings column, as described in footnote 7 to this table, from the amounts reported in the Total column.

The amounts reported in this column differ from, and are not a substitute for, the amounts reported in the Total column. Filed by a Party other than the Registrant o. Confidential, for Use of the Commission Only as permitted by Rule 14a-6 e 2. Abbott Laboratories. Payment of Filing Fee Check the appropriate box :. Fee computed on table below per Exchange Act Rules 14a-6 i 1 and Title of each class of securities to which transaction applies:.

Aggregate number of securities to which transaction applies:. Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule set forth the amount on which the filing fee is calculated and state how it was determined :. Proposed maximum aggregate value of transaction:.

Total fee paid:. Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule a 2 and identify the filing for which the offsetting fee was paid previously. Amount Previously Paid:. Form, Schedule or Registration Statement No. Filing Party:. Date Filed:. Notice of Annual Meeting of Shareholders.

Proxy Summary. Information About the Annual Meeting. Who Can Vote. Notice and Access. Cumulative Voting. Voting by Proxy. Revoking a Proxy. Discretionary Voting Authority. Inspectors of Election. Cost of Soliciting Proxies. Abbott Laboratories Stock Retirement Plan. Confidential Voting. Householding of Proxy Materials. The Board of Directors and its Committees. The Board of Directors. Leadership Structure. Director Selection. Board Diversity and Composition. Committees of the Board of Directors.

Communicating with the Board of Directors. Corporate Governance Materials. Security Ownership of Executive Officers and Directors.