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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549
_____________________________________________________________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
_____________________________________________________________________

Date of Report (Date of earliest event reported): August 3, 2020
BOSTON SCIENTIFIC CORPORATION
(Exact name of registrant as specified in its charter)

Delaware 1-11083 04-2695240
(State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification No.)

         300 Boston Scientific Way, Marlborough, Massachusetts     01752-1234
        (Address of Principal Executive Offices)         (Zip Code)

Registrant's telephone number, including area code:   508 683-4000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol Name of each exchange on which registered
Common Stock, $0.01 par value per share BSX New York Stock Exchange
0.625% Senior Notes due 2027 BSX27 New York Stock Exchange
5.50% Mandatory Convertible Preferred Stock, Series A, par value $0.01 per share BSX PR A New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company   ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐




ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

Restoration of Base Salary of Executive Officers

As previously disclosed, on April 2, 2020, the Company announced that, in light of the disruption and uncertainty created by the evolving COVID-19 pandemic and its anticipated impact on the Company’s operations, all of our executive officers, including our Chief Executive Officer, Chief Financial Officer, and our other named executive officers, would be taking a significant temporary reduction in base salary for up to 6 months. On August 3, 2020, the Company announced that due to stronger business results and an increase in procedure volumes in the second quarter compared with the Company’s prior expectations, the base salary reductions for the Company’s executive officers, other than the Chief Executive Officer, would terminate in August 2020 following a four-month period of reduced base salaries, and that each such executive officer will revert back to receiving 100 percent base salary.

Our Chief Executive Officer, Michael Mahoney, will continue the 99 percent reduction in his salary, receiving only payments necessary to retain his benefits, for the six month period through October 11, 2020. In addition, the annual cash retainer for each non-employee director serving on the board will continue to be reduced to 50 percent of the previously approved amount.


Exhibit No. Description

104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document




SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
             
               

Date: August 3, 2020 BOSTON SCIENTIFIC CORPORATION
By: /s/ Vance R. Brown
Vance R. Brown
Vice President and Chief Corporate Counsel


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