Company: ICUI
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000883984-25-000010
Chunk: 24

Company: ICU MEDICAL INC/DE
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 24
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 Target Goal |     | Stretch Goal |
| Adjusted EBITDA Performance for Executive Plan (in millions) |     |           $330 |     |        $350 |     |         $370 |
| Free Cash Flow (in Millions)                                 |     |            $40 |     |         $80 |     |         $120 |
| MIP Payout (% of Target Bonus)                               |     |            50% |     |        100% |     |         150% |

Performance Against the MIP Targets

Based on the Company's actual 2024 Adjusted EBITDA and FCF performance of $370.5 million and $125.4 million, respectively, the Compensation Committee approved the funding of the bonus pool under the 2024 MIP at 150% of target. The Compensation Committee determined that the tentative bonus payout for each eligible participant would be a base of 125% of target, with the actual bonus payout (expressed as a percentage of the participant's target annual cash bonus opportunity) to be adjusted up or down with respect to non-executive's bonus payout (as determined in management's sole discretion) based on a number of different factors including the participant's role and responsibilities and 2024 individual performance factor, provided, however that such payouts in March of 2025 would be capped at 125% of target with any additional amounts payable under the 2024 MIP plan to be paid in the fourth quarter of 2025, subject to continued service through the applicable payment date (thereby furthering the Company's retention objectives).

Based on the review of each named executive officer's individual performance and contributions to the Company for 2024 (as described hereafter) with consideration given for individual contributions to work performed in 2024, the Compensation Committee determined that Mr. Jain earned an annual cash bonus payout equal to 150% of his target annual cash bonus opportunity, each of Mr. Voigtlander, Mr. Bonnell and Ms. Sanzone earned annual cash bonus payouts equal to 175% of their target annual cash bonus opportunities and Mr. Woolson earned an annual cash bonus payout equal to 145% of his target annual cash bonus opportunity. Specifically, the Compensation Committee considered the named executive officers' contribution toward the continued integration of the Smiths Medical acquisition, significant efforts relating to the joint venture announced in November 2024 which is expected to close during 2025 and the ongoing extensive demands placed on these executive officers throughout the year with respect to other current