Item 11. Executive Compensation:

Refer to the information under the captions “2020 Summary Compensation Table and Related Narrative,” “2020 Summary Compensation Table,” “2020 Compensation Discussion and Analysis,” “2020 Grants of Plan-Based Awards Table,” “2020 Outstanding Equity Awards at Fiscal Year-End Table,” “2020 Option Exercises and Stock Vested Table,” “2020 Retention Plan Table,” “2020 Pension Benefits Narrative,” “2020 Pension Benefits Table,” “2020 Nonqualified Deferred Compensation Narrative,” “2020 Nonqualified Deferred Compensation Table,” “2020 Potential Payments Upon Termination Narrative,” “2020 Potential Payments Upon Termination Table,” “Governance and Board—Compensation Committee Interlocks and Insider Participation: None,” “Compensation Program as It Relates to Risk,” “2020 Executive Compensation—Report of the Executive Compensation and Management Resources Committee of the Board of Directors,” and “Pay Ratio” in IBM’s definitive Proxy Statement to be filed with the SEC and delivered to stockholders in connection with the Annual Meeting of Stockholders to be held April 27, 2021, all of which information is incorporated herein by reference.

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