ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On February 22, 2022 (the "Closing Date"), Stryker Corporation (the "Company") entered into a Term Loan Agreement with various lenders and Wells Fargo Bank, National Association, as administrative agent (the "Term Loan Agreement"). The Term Loan Agreement provides for the following terms: (1) an aggregate principal amount of commitments of $1.5 billion, (2) a maturity date of February 22, 2025 and (3) a leverage ratio financial covenant that provides for a maximum permitted leverage ratio of 3.75:1 at the end of any fiscal quarter, with an acquisition holiday no more than twice during the term of the Term Loan Agreement that permits the Company to elect to increase the maximum permitted leverage ratio by 1.0 to 4.75:1 for a period of four consecutive fiscal quarters, with the maximum permitted leverage ratio then stepping down by 0.25:1 for each of the next four quarters until it reaches 3.75:1, in connection with the consummation of certain material acquisitions. The representations and warranties, covenants and events of default contained in the Term Loan Agreement are substantially similar to those contained in the Company's existing credit facility. Loans under the Term Loan Agreement bear interest, at the Company's option, at either a Base Rate or Adjusted Term SOFR, each as defined in the Term Loan Agreement, plus, solely in the case of loans based on Adjusted Term SOFR, an applicable margin ranging from 62.5 to 82.5 basis points. The applicable margin is dependent on the Company's credit ratings. On the Closing Date, the Company borrowed the full $1.5 billion available under the Term Loan Agreement.

The foregoing description of the Term Loan Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of such document, which is filed as Exhibit 10.1 hereto and incorporated herein by reference.




ITEM 2.03          CREATION OF A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN
                   OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT

The information set forth in Item 1.01 above is hereby incorporated by reference into this Item 2.03.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS




  (d) Exhibits

        10.1     Term Loan Agreement, dated as of February 22, 2022, among Stryker
                 Corporation, as borrower, the lenders party thereto and Wells Fargo
                 Bank, National Association, as administrative agent.
                 Cover Page Interactive Data File (the cover page XBRL tags are embedded
      104        within the Inline XBRL document)

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