Company: ALGN
Filing Date: 2025-03-27
Form Type: PRE 14A
Source: 0001097149-25-000016
Chunk: 58

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-03-27
Form: PRE 14A
Chunk 58
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 for such grant to be eligible for continued vesting under this retirement provision (collectively, the “Retirement Eligibility Terms”). If each of the Retirement Eligibility Terms are met, (i) each outstanding RSU award belonging to an executive officer will continue to vest for twelve months after the executive officer’s date of retirement from Align; (ii) for each outstanding MSU award belonging to the executive officer will be entitled to receive a pro-rated vesting of shares at the end of the applicable MSU performance period based on the date of retirement and subject to the conditions for vesting and release of shares under the original terms of the MSU are achieved in accordance with the terms of the applicable MSU award. The pro-rated vesting shall be based on the amount of time the executive officer was employed during the performance period and any vesting of shares under a RSU award and MSU award are subject to the executive officer complying with lawful non-compete, non-solicit, confidentiality and release of claims provisions set forth in the agreement. We added the Retirement Eligibility Terms to help better ensure retention of retiring executives through the hiring of their replacements and a smoother transition upon retirement. It also recognizes the service of the retiring executive to Align. As of December 31, 2024, only Mr. Wright has attained the age of 55 and a minimum of ten years of continuous service to Align and is the sole executive eligible for this benefit. In May 2024, Mr. Wright announced his intention to retire and will be eligible for the benefits set forth in this paragraph when his retirement becomes effective.

| 2024 Stockholder Say-on-Pay Vote Results |

At our Annual Meeting of Stockholders in May 2024 (the “2024 Meeting”), our stockholders were asked to cast a non-binding advisory vote ("say-on-pay") to approve the compensation for our 2023 named executive officers (“2023 NEOs”). At the 2024 Meeting, approximately 84% of the votes cast by our stockholders were in support of our “say-on-pay” proposal. Based on the results of this vote and our regular stockholder outreach and engagement, our Compensation and Human Capital Committee believes that subject to the above-described changes, our stockholders understand its philosophy on executive compensation, recognize how our compensation program aligns with our strategic goals and objectives and support our approach to executive compensation.

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| Compensation and Human Capital Committee Report |

The Compensation and Human Capital Committee has reviewed and discussed the