Company: STAA
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058174
Chunk: 32

Company: STAAR SURGICAL CO
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 32
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 27, 2024                       |
|:----------------------------|:-------------------------------------------------------|
| Thomas G. Frinzi            | President and Chief Executive Officer                  |
| Patrick F. Williams         | Chief Financial Officer                                |
| Warren Foust                | Chief Operating Officer                                |
| Magda Michna, PhD           | Chief Clinical, Regulatory and Medical Affairs Officer |
| Nathaniel B. Sisitsky, Esq. | General Counsel and Corporate Secretary                |

A complete list of our current executive officers with accompanying biographical information is included in this Proxy Statement under the caption “Information Regarding Executive Officers.” Executive Summary: Fiscal 2024 Results and Pay Program Outcomes Fiscal 2024 was a challenging year for STAAR, and our 2024 financial results failed to meet expectations. Macroeconomic conditions in China had a significant impact on our business, and after a robust start to the year, China experienced slowing growth in 2024. As a result, we reported net sales of $313.9 million for 2024, a decrease of 3% compared to $322.4 million in 2023. We expect China’s macroeconomic challenges will continue to pressure our results in 2025, and STAAR is taking steps to best position the Company for long-term success. In the first quarter of 2025, the Board made changes to the Company’s leadership team, and we realigned our leadership structure to better address market needs. We also engaged with shareholders as we sought to demonstrate our commitment to corporate governance and paying for performance. With our challenging 2024 financial results, we did not achieve the minimum performance thresholds for the 2024 annual bonus plan or the performance stock units (“PSUs”) granted in 2024 to our executives. For 2025, we have implemented revised pay programs that we believe demonstrate our strong commitment to paying for performance.

| 2025 Proxy Statement | – 24 – |

#### –Compensation Discussion and Analysis–
The table below summarizes key actions and results, and pay program outcomes, for 2024, as well as related talent and pay actions taken in 2025:

| Actions and Results                                                                                                                                        | Pay Program Outcomes                                                                                                     |
| •Established clear financial performance goals for both annual cash bonus and PSU programs                                                                 
 •Received 83% shareholder support for annual say-on-pay vote (below desired level); engaged with shareholders regarding concerns with current pay programs 
 •Fell short of financial goals in China; delivered double-digit revenue growth in markets