Company: ICUI
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000883984-25-000010
Chunk: 27

Company: ICU MEDICAL INC/DE
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 27
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 Time-Based RSUs (#) |       |     | PRSUs (#)(1) |        |
| Vivek Jain            |     |                     |     — |     |              | 43,054 |
| Brian Bonnell         |     |                     |     — |     |              | 28,703 |
| Christian Voigtlander |     |                     |     — |     |              | 28,703 |
| Daniel Woolson        |     |                     | 6,459 |     |              |  6,459 |
| Virginia Sanzone      |     |                     | 9,568 |     |              |  9,567 |

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(1) Number of units shown represents the total award that can be earned (at target) at the end of a two-year performance period.

Consistent with our overall pay-for-performance philosophy, our Compensation Committee determined the size of the 2024 equity awards so that the target total direct compensation opportunity of the named executive officers fell in the competitive market range, as appropriate, after considering such factors as Company and individual performance, experience, longevity with the Company, internal pay parity considerations and unique requirements of the position. In addition, the Compensation Committee considered the recommendations of the Chief Executive Officer (except with respect to his own equity award); a competitive market analysis performed by Compensia; the current outstanding and unvested equity holdings of each named executive officer and their respective retention hold; and the dilutive effect of the equity awards.

The RSU and PRSU awards granted to the named executive officers in 2024 were subject to the following provisions:

The PRSU awards have a two-year performance period commencing January 1, 2024 and ending on December 31, 2025. Between 0% and 250% of the target number of PRSUs will be eligible to be earned and vest based upon the achievement of a minimum preestablished two-year cumulative Adjusted EBITDA target over the performance period. Because the current disclosure of the performance target would result in competitive harm to the Company, it will be disclosed when the performance is actually determined after the close of the performance period. Adjusted EBITDA for purposes of the PRSUs has the same meaning as Adjusted EBITDA described above under "Annual Cash Bonus Program."

This performance measure was selected by our Compensation Committee as the appropriate long-term performance measures for the PRSU awards as it aligns the future payout (if any) with our sustained adjusted E