Company: OFIX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061062
Chunk: 34

Company: Orthofix Medical Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 34
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-K) involving amounts exceeding $120,000 in which the related person has a direct or indirect material interest. Transactions with related persons in 2024 One former member of the Board, Dr. Stuart M. Essig, who served as a director until June 2024, is currently Chair of the Board of Directors of Integra LifeSciences Holdings Corporation (“Integra”), a position he has held since January 2012, having served on the Integra Board of Directors since December 1997. In February 2024, Dr. Essig became Integra’s Executive Chairman in connection with its search for a new President and Chief Executive Officer. He also served as Integra’s Chief Executive Officer from 1997 until 2012. As a result of the Company’s merger with SeaSpine, Orthofix is party to a supply agreement between Integra and SeaSpine. Integra is the Company’s supplier of microfibrillar collagen for our product currently marketed as IsoTis Mozaik TM Collagen Ceramic Matrix. The Company paid Integra $0.6 million during Dr. Essig’s 2024 term in connection with this supplier agreement. This transaction was disclosed to and approved by the Audit and Finance Committee in compliance with our Corporate Code of Conduct and Audit and Finance Committee charter.

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| Compensation Discussion and Analysis |

Executive Overview We focus our compensation program for our named executive officers (“NEOs”) and other executives on financial, strategic, and operational goals established by the Board of Directors and designed to create sustained value for our shareholders. Our guiding compensation principle is to pay for performance. Our executive compensation program is designed to motivate, measure, and reward the successful achievement of our strategic and operating goals without promoting excessive or unnecessary risk taking. Consistent with our pay-for-performance philosophy, a significant portion of our NEOs’ compensation was delivered in equity-based awards for 2024. For the 2024 annual equity-based grant (excluding inducement awards), 50% of the award value was delivered via performance-based restricted stock units, 25% percent of the award value via time-based vesting stock options and 25% percent of the award value delivered via time-based vesting restricted stock units. For information on inducement awards to our NEOs hired in 2024, see “Executive Leadership Transition” below. In addition, a significant portion of our NEOs’ cash compensation was at risk via our annual cash incentive program, which is