Company: TCMD
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0001558370-25-003924
Chunk: 23

Company: TACTILE SYSTEMS TECHNOLOGY INC
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 23
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| 36 | Tactile Systems Technology, Inc. |

Following the completion of each performance period, the Compensation and Organization Committee will determine the degree to which the applicable performance goals were attained and the corresponding award amounts that would be payable to participants based on such attainment. The Compensation and Organization Committee retains the discretion, based on factors it deems relevant, to increase or decrease (including to zero) the amount of an award that would otherwise be payable to any participant based on attainment of applicable performance goals. The amount of any award determined by the Compensation and Organization Committee to be payable will be paid to the participant in a lump sum cash payment no later than March 15 of the calendar year immediately following the applicable performance period. A participant must continue to be employed by us on the date of payment to receive payment of an award under the MIP. In February 2024, the Compensation and Organization Committee, pursuant to the MIP and with respect to the 2024 performance period, selected the applicable performance measures, specified the performance goals based on those performance measures, and specified the method for calculating the amount payable to our named executive officers if and to the extent the performance goals are satisfied. As in the prior year, the Committee selected revenue and net income before interest, taxes, depreciation and amortization, stock-based compensation expense and other adjustments (“Adjusted EBITDA”) as the performance measures, which are among the performance measures set forth in the MIP. Target bonus amounts for these named executive officers were split 65% based on our achievement of 2024 revenue goals and 35% based on our achievement of 2024 Adjusted EBITDA goals. The following payout levels associated with the degree to which the revenue and Adjusted EBITDA goals were attained for 2024 were as follows:

| ​                             | ​ |         ​ | ​ |      ​ | ​ |       ​ | ​ |
| Revenue (In millions)         |   | Threshold |   | Target |   | Maximum |   |
| Results                       | ​ |    $283.0 | ​ | $310.0 |   |  $337.0 | ​ |
| Percentage Payout Level       | ​ |       50% | ​ |   100% |   |    150% | ​ |
| ​                             | ​ |         ​ | ​ |      ​ | ​ |       ​ | ​ |
| Adjusted EBITDA (In millions) |   | Threshold |   | Target | ​