Company: OFIX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061062
Chunk: 35

Company: Orthofix Medical Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 35
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100% performance-based. The Compensation and Talent Development Committee (referred to throughout this Compensation Discussion and Analysis section as the “Committee”) has consistently set challenging financial performance goals under the annual cash incentive plan that rewards executives for achieving or exceeding the annual operating plan. The approach for setting the financial performance goals under the annual cash incentive plan was similar in 2024 as compared to prior years. Our annual cash incentive program in 2024 also included an enterprise CR objective relating to community service. Actual performance for individuals serving in the offices of Chief Executive Officer, Chief Financial Officer, Chief Legal Officer and Chief People and Business Operations Officer exceeded target performance goals in 2024. Actual performance of the Global Spine business in 2024 fell short of the target performance goals, which resulted in a lower than target payout for Mr. Reinhardt. The Committee believes that its overall compensation program for NEOs demonstrates the Committee’s pay-for-performance philosophy. Notable financial results and operational accomplishments in 2024 include the following: • Net sales were $799.5 million, an increase of 7.1% on both a reported and constant currency basis • U.S. Spine Fixation net sales growth of 14.2% compared to prior year, driven by distribution expansion and further penetration in existing accounts • Bone Growth Therapies growth of 9.8% and Bone Growth Therapies Fracture growth of 13.0% compared to prior year • U.S. Spinal Implants, Biologics, and Enabling Technologies growth of 7.0% compared to prior year • U.S. Orthopedics net sales growth of 16.4% compared to prior year • Entered into record number of 7D FLASH TM Navigation System placements for full-year 2024 • Entered into new $275.0 million credit facility that replaces existing financing and further optimized our capital structure to support long-term profitable growth

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Consistent with shareholder interests and market best practices, our executive compensation program includes the following sound governance features:

What we do:

Align executive pay with the overall performance of our business and the Company’s common stock

Set meaningful performance targets for annual and long-term performance-based awards, approved by the Committee

Include caps on annual cash incentive plan payments and shares earned under performance-based stock awards

Discourage unnecessary and inappropriate risk taking, and we obtain an annual independent risk assessment analysis of our executive compensation program