Company: STAA
Filing Date: 2025-12-10
Form Type: DEFA14A
Source: 0001193125-25-314435
Chunk: 9

Company: STAAR SURGICAL CO
Filing Date: 2025-12-10
Form: DEFA14A
Chunk 9
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 proposed amendment to the Merger Agreement. Thereafter on December 5, 2025, representatives of Gibson Dunn provided representatives of Wachtell Lipton a draft of the Second Amendment, which provided for, among other things, (i) an increase in the Merger Consideration from $28.00 per share to an undisclosed amount per share, (ii) a change in the treatment of STAAR RSU Awards and STAAR PSU Awards granted before signing or held by directors such that such awards would be converted into awards of Alcon based on a fixed exchange ratio, with STAAR PSU Award performance deemed achieved at 100% of target, rather than accelerated in full and cashed out as originally contemplated under the Merger Agreement, and (iii) eliminating STAAR’s ability to pay Section 280G gross-ups and enter into related tax indemnification arrangements in connection with the Merger.

Also on December 5, 2025, a meeting of the Board was held in order for management to update the Board on the go-shop process and the draft Second Amendment that had been proposed by Alcon. Among other things, the Board discussed the need for Alcon to provide STAAR with its proposed amount of increase to the Merger Consideration, and Mr. Farrell indicated that he would follow-up with Mr. Endicott on December 7, 2025, following the expiration of the go-shop period.

On December 6, 2025, Mr. Farrell updated the Chair of STAAR’s Compensation Committee regarding Alcon’s proposed changes to the Merger Agreement and solicited his views and guidance with respect thereto.

Also on December 6, 2025, at 11:59 p.m., Eastern Time, STAAR’s 30-day go-shop period expired. None of the 21 parties that STAAR or Citi had engaged with submitted an Acquisition Proposal prior to that time.

On December 7, 2025, Mr. Farrell updated Mr. Endicott on the results of STAAR’s go-shop process. Mr. Endicott then conveyed to Mr. Farrell that Alcon proposed increasing the Merger Consideration from $28.00 per share of STAAR common stock to $30.75 per share of STAAR common stock, and that the increased amount would be Alcon’s best and final offer. In addition, Mr. Farrell noted the potential impact of Alcon’s proposed changes to the treatment of employee equity awards on employee retention and morale.

Thereafter on December