Business Context and Reporting Period
This Form 8-K is a current report filed by Bausch Health Companies Inc. on February 26, 2026. The filing addresses specific compensatory arrangements for certain executive officers regarding performance share unit awards originally granted in March 2023.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on executive compensation adjustments.
Material Changes
The Company amended the settlement terms for 2023 Performance Share Units (PSUs) for two named executive officers:
- Thomas Appio: The agreement for 1,137,862 PSUs was amended to settle solely in cash rather than stock. The cash amount will equal the market price of the Company's common stock on the vesting date (March 3, 2026).
- Seana Carson: An agreement was entered into for 137,922 PSUs where Ms. Carson agreed to irrevocably dispose of her rights to the units in exchange for cash equal to the market price on the vesting date.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, or general risk factors. The full text of the amended agreements is not included in this report but will be filed in the Form 10-Q for the quarter ending March 31, 2026.
Investor Verification Checklist
- Verify the total cash payout obligation for the 1,275,784 affected PSUs once the March 3, 2026 closing stock price is determined.
- Review the upcoming Form 10-Q (Q1 2026) for the full text of the Appio and Carson agreements.
- Confirm the impact of these cash settlements on the Company's cash flow and share count dilution avoidance.