Item 11. Executive Compensation:

Refer to the information under the captions “2021 Summary Compensation Table and Related Narrative,” “2021 Summary Compensation Table,” “2021 Compensation Discussion and Analysis,” “2021 Grants of Plan-Based Awards Table,” “2021 Outstanding Equity Awards at Fiscal Year-End Table,” “2021 Option Exercises and Stock Vested Table,” “2021 Retention Plan Table,” “2021 Pension Benefits Narrative,” “2021 Pension Benefits Table,” “2021 Nonqualified Deferred Compensation Narrative,” “2021 Nonqualified Deferred Compensation Table,” “2021 Potential Payments Upon Termination Narrative,” “2021 Potential Payments Upon Termination Table,” “Governance and the Board—Compensation Committee Interlocks and Insider Participation: None,” “Compensation Program as It Relates to Risk,” “2021 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 26, 2022, all of which information is incorporated herein by reference.

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