Scott T. Reents
Executive Vice President, Chief Financial Officer at ABBV
Executive
About Scott T. Reents
Scott T. Reents is Executive Vice President and Chief Financial Officer at AbbVie; age 57 per AbbVie’s executive officer roster. He has served as CFO since 2022 after leadership roles in Tax and Treasury at AbbVie and Abbott (joined Abbott in 2008) . Under his tenure as a senior finance leader, AbbVie reported 2024 total net revenues of $56.3B, adjusted diluted EPS of $10.12, and operating cash flow of $18.8B; 10‑year TSR reached +311% with 1/3/5‑year TSRs of +19%/+47%/+149% through 12/31/2024 . In 2025, he certified AbbVie’s 10‑Q filings, with management concluding disclosure controls were effective and no material changes in internal control in Q3 2025 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| AbbVie | EVP, Chief Financial Officer | 2022–present | Principal financial officer; oversees finance, disclosure controls and ICFR; certifies SEC filings . |
| AbbVie | SVP, Chief Financial Officer | Jun 2022–Nov 2022 | Transition to top finance role; corporate officer appointment in 2022 . |
| AbbVie | VP, Tax and Treasury | 2019–Jun 2022 | Led global tax and treasury functions supporting capital markets and liquidity . |
| AbbVie | VP, Tax | 2013–2019 | Directed AbbVie’s tax strategy and compliance . |
| Abbott | Various finance roles | 2008–2012 | Joined Abbott in 2008 before AbbVie spin; finance leadership experience . |
External Roles
- No external directorships or public company board roles were disclosed for Mr. Reents in AbbVie’s filings .
Fixed Compensation
| Metric (USD) | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base salary (earned) | $753,139 | $973,077 | $1,073,077 |
| Target bonus % of salary | — | — | 120% |
| Actual bonus (PIP payout) | $1,400,000 | $1,850,000 | $2,250,000 |
Perquisites and benefits (2024 examples): financial planning stipend $10,000; corporate automobile cost $25,632; personal air travel incremental cost $48,844; all treated as taxable income without gross‑ups .
Performance Compensation
Short‑Term Incentive (PIP) design and 2024 outcome
| Element | CFO weighting | Target | Actual/performance | Payout impact |
|---|---|---|---|---|
| Financial goals (equally weighted: Platform Revenue, Non‑GAAP Income Before Taxes, Adjusted ROA, Non‑GAAP Operating Margin) | 80% | Targets set ex‑FX; rigorous calibration | 2024 results: Platform Revenue $47.3B (106% of target), Non‑GAAP IBT 105% of target, Adjusted ROA 107%, Non‑GAAP Op Margin 104% | Informed matrix cap; strong over‑target results |
| ESG | 10% | Executives align to AbbVie’s ESG framework | 2024 highlights included >235k U.S. patients aided at no cost; >26% Scope 1/2 emissions reduction vs 2021; >47k employee volunteer hours | Positive qualitative assessment |
| Other strategic/leadership goals | 10% | CFO: drive finance transformation, ensure financial goals, integration objectives | Committee reviewed qualitative results | Positive qualitative assessment |
| PIP payout governance | — | Plan max 200% | 2024 payout matrix capped at 190% given financial results (106% PR / 105% IBT) | Cap applied |
| CFO award | — | $1,320,000 target (120% of salary) | — | $2,250,000 actual paid |
Long‑Term Incentive (LTI) structure (annual awards)
| Award type (mix) | Metric | Performance period | Vesting/terms |
|---|---|---|---|
| Performance Shares (40%) | Adjusted Diluted EPS; Relative TSR modifier | 3 years | 0–250% earn; dividends accrue and pay only if earned; 2024 EPS banked at 200% pending 2024–2026 TSR . |
| Performance‑Vested RSUs (40%) | Relative ROIC vs pharma indices | 3 years | Earn/vest in one‑third increments, 0–200% based on annual relative ROIC; 2024 ROIC at 92nd percentile → 200% for 2024 tranche . |
| Non‑Qualified Stock Options (20%) | Stock price appreciation | 10‑year term | Vest 1/3 annually at grant anniversaries; grant price at fair market (average high/low) . |
2024 individual LTI grants to CFO (grant date 2/15/2024; grant price $175.28):
- Performance Shares: 11,410 target units; grant date fair value $2,166,302 .
- Performance‑Vested RSUs: 11,410 target units; grant date fair value $1,999,888 .
- Stock Options: 31,520 options @ $175.28; grant date fair value $993,826; vest 1/3 each year .
Equity Ownership & Alignment
| Ownership/Policy | Detail |
|---|---|
| Beneficial ownership (as of Mar 10, 2025) | 29,221 shares beneficially owned; 119,845 stock options exercisable within 60 days . |
| Unvested equity at FY‑end 2024 | Unvested stock awards: 11,714; 22,278; 22,820 units (market/payout values disclosed) . Unexercisable options at FY‑end 2024: 57,820 total (3,794 + 22,506 + 31,520) . |
| Ownership vs guidelines | Stock ownership requirement for NEOs is 3x base salary; Mr. Reents: requirement met . |
| Pledging/hedging | AbbVie prohibits directors and Section 16 officers from hedging or pledging AbbVie stock; awards cannot be pledged or transferred except as permitted . |
| Ownership as % of shares outstanding | 29,221 shares / 1,767,384,632 shares outstanding ≈ 0.0017% (as of Oct 27, 2025) . |
Employment Terms
| Topic | AbbVie policy / Mr. Reents specifics |
|---|---|
| Employment agreements | AbbVie has not entered into employment agreements with NEOs; no cash severance or equity acceleration outside change‑in‑control context (double trigger) . |
| Change‑in‑Control (CIC) agreements | Double‑trigger; lump sum up to 2.99x annual salary + bonus (greater of target or 3‑year average), unpaid and pro‑rata bonus, up to two years of benefits and three years of pension accruals; potential 280G cutback if beneficial; “good reason” includes adverse role change, pay reduction, or relocation >35 miles . |
| CIC payout illustration (if CIC on 12/31/2024 and termination under covered circumstances) | Cash termination payments: $7,354,553; additional Supplemental Pension Plan benefits: $5,857,009; welfare and fringe benefits: $78,386 . |
| Equity treatment under CIC | If awards not assumed/converted/replaced equivalently, vesting accelerates; if assumed, acceleration occurs on qualifying termination during 6 months before to 2 years after CIC; value illustrations provided for NEOs . |
| Clawback | Mandatory recoupment of excess compensation upon restatement; broad discretion to claw back for material breach of Code of Business Conduct . |
| Insider trading | Formal policy with blackout periods, pre‑clearance, and 10b5‑1 plan requirements; policy filed with 2024 10‑K . |
Compensation History (Summary Compensation Table excerpts)
| USD | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary | $753,139 | $973,077 | $1,073,077 |
| Stock Awards (grant date fair value) | $2,104,732 | $4,029,950 | $4,166,190 |
| Option Awards (grant date fair value) | $259,874 | $1,011,112 | $993,826 |
| Non‑Equity Incentive Plan Comp (PIP) | $1,400,000 | $1,850,000 | $2,250,000 |
| Change in Pension Value & Non‑qualified Deferred Comp Earnings | $973,716 | $2,012,889 | $2,010,658 |
| All Other Compensation | $130,475 | $309,684 | $498,603 |
| Total | $5,621,936 | $10,186,712 | $10,992,354 |
Additional plan‑level details: change in 2024 pension values reflect assumptions (discount rates 5.85% Supplemental Pension Plan 5.80%; plan mechanics), and non‑qualified plan earnings are reported as required .
Performance & Track Record
- 2024 operational performance: Growth Platform net revenues $47.3B (+18.6% YoY), total net revenues $56.3B; GAAP diluted EPS $2.39; adjusted diluted EPS $10.12; operating cash flow $18.8B .
- TSR: +311% over 10 years; AbbVie ranked 2nd of 10 peers over 1/3/5/10 years through 12/31/2024 .
- Controls: CEO and CFO concluded disclosure controls effective; no material ICFR changes in Q3 2025 .
Compensation Structure Analysis
- Strong pay‑for‑performance linkage: >75% of NEO compensation is variable; short‑term plan capped at 190% of target in 2024 to align payouts with financial outcomes .
- Emphasis on multi‑year equity performance: 80% of LTI is performance‑based (EPS with TSR modifier; relative ROIC), reinforcing long‑term value creation; 20% in stock options .
- Governance safeguards: robust clawback; anti‑hedging/pledging; ownership guidelines (CFO 3x base salary, met); no employment agreements; no excise tax gross‑ups; double‑trigger CIC .
Investment Implications
- Alignment: The CFO’s incentive mix (80% financial weighting in PIP; 80% performance‑based LTI) and ownership guideline compliance indicate strong alignment with revenue growth, profitability, and capital efficiency (ROIC) priorities that are central to AbbVie’s investment case .
- Retention risk: Absence of employment agreements is offset by ownership, multi‑year equity, and CIC protections (up to 2.99x salary+bonus, double‑trigger), reducing abrupt departure risk while avoiding shareholder‑unfriendly features (no gross‑ups, no single‑trigger) .
- Trading signals: Anti‑pledging/hedging policy and pre‑clearance reduce signaling risk from hedging/pledging; with sizable unvested equity and options (and met ownership guideline), near‑term forced selling pressure appears limited from policy design, though routine tax‑withholding sales may occur at vest .
- Execution focus: 2024–2026 LTI metrics (EPS, relative TSR, relative ROIC) and 2024 PIP over‑target performance (matrix‑capped) reinforce management accountability to deliver revenue growth, margin and returns as AbbVie scales its Growth Platform beyond Humira LOE .