Company: MDXG
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001376339-25-000048
Chunk: 43

Company: MIMEDX GROUP, INC.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 43
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 NEOs in 2024 vest based on and to the extent that stipulated cumulative revenue growth targets over a three-year performance period are achieved and require the recipient to provide continuous service through the end of such period.

Achievement of the performance goals allows for vesting of 50%, 100% and 150% (based on threshold, target or excellent performance) of the PSUs granted. If performance is below threshold, the PSUs do not vest. Performance at the threshold, target and excellence levels for the three year period ended December 31, 2026 requires revenue growth at a cumulative growth rate (“ CAGR ”) of 10%, 12.5% and 15%, respectively, over revenues for the year ended December 31, 2023.

The PSUs also include a total shareholder return (“ TSR ”) modifier that requires (a) the Company’s TSR over the performance period to be at or above the 50th percentile as compared to the Russell 2000 Index for the PSUs to be earned at over 100% and (b) applies a prorated TSR modifier of up to 120% if the Company’s TSR percentile is above 50%. All of the PSUs require recipients to continue employment with the Company through the vesting date, which will occur upon approval of the results with respect to the established targets by the Committee after December 31, 2026, but no later than March 15, 2027. The total shareholder return (“ TSR ”) is calculated as the average trading price of the Company’s common stock during the final 20 trading days of 2026, adjusted for dividends paid on the Company’s common stock, less the average trading price during the final 30 trading days of 2023.

In connection with her promotion in 2024 Ms. Maersk-Moller received a grant of PSUs that vest based on and to the extent that stipulated cumulative revenue growth targets over a three-year performance period are achieved. Achievement of the performance goals allows for vesting of 50%, 100% and 150% (based on threshold, target or excellent performance) of the PSUs granted. If performance is below threshold, the PSUs do not vest. Performance at the threshold, target and excellence levels for the three year period ended December 31, 2026 requires revenue growth at a CAGR of 5%, 10% and 15%, respectively, over revenues for the year ended December 31, 2023.