Company: STAA
Filing Date: 2025-04-24
Form Type: 8-K
Source: 0000950170-25-058173
Chunk: 2

Company: STAAR SURGICAL CO
Filing Date: 2025-04-24
Form: 8-K
Item: Item 5.02
Chunk 2
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 experience, and most recently served as Executive Vice President and President, Bayer Pharmaceuticals Region China & APAC and President, Bayer Group Greater China Region, until his retirement in 2021. During his tenure on the Company’s Board, Mr. Jiang has worked closely with the Company’s Asia Pacific team to understand the challenges and opportunities in this key region for the Company. The Board believes that Mr. Jiang’s knowledge of the Company’s business, strategy, and people, combined with his experience leading large pharmaceutical businesses in China, make him well suited for this role. As the role is expected to last through the end of fiscal 2025, the Board believed that it was acceptable and appropriate for Mr. Jiang to remain on the Board during his service as an advisor. Under the terms of the consulting agreement, the Company agreed to compensate Mr. Jiang in the form of restricted stock units (“ RSUs”), which will be granted on May 12, 2025, with a grant date value of $1,275,000. The RSUs will vest as to one-third of the shares subject thereto on each of August 12, 2025, November 12, 2025, and January 12, 2026. The Company will also continue to provide Mr. Jiang with the standard director compensation for a non-employee director. In accordance with the Company’s related person transactions policy,

the Audit Committee of the Board reviewed and approved the agreement with Mr. Jiang, which was also approved by the Board. While Mr. Jiang will remain on the Board, he will no longer qualify as an independent director under Nasdaq rules.

As a result of the foregoing changes to the Board, the Board approved changes to the composition and leadership of the Board's three standing committees. Effective as of the Effective Date, the Board appointed Mr. Silverman to the Audit Committee and the Nominating and Governance Committee. In addition, Mr. Jiang and Ms. Weisner stepped down from their committee roles. As of the Effective Date, the Audit Committee is comprised of Ms. Zhou (Chair), Mr. Silverman, and Dr. Yeu; the Compensation Committee is comprised of Mr. Butcher (Chair), Dr. Yeu, and Ms. Zhou; and the Nominating and Governance Committee is comprised of Dr. Yeu (Chair), Mr. Silverman, and Ms. Zhou.

Item 7.01 Regulation FD Disclosure.

On April 24, 2025, the Company issued a press release (the “ Press