Company: OFIX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061062
Chunk: 5

Company: Orthofix Medical Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 5
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 stock options, unvested time-based vesting stock awards, or unearned performance-based vesting stock awards

XHave employment agreements with our executive officers

XPay excise tax gross-ups for change in control payments

XReprice stock options without shareholder approval

XProvide excessive perquisites

XPermit hedging or pledging of our securities by certain employees considered “insiders”, including our executive officers or directors

Corporate Governance Highlights

We are committed to effective corporate governance and the regular review of our corporate governance practices to continue building on our success and long-term shareholder value.

Director Election

All directors are elected annually for a one-year term

We have a majority votes standard for uncontested elections of directors

Board Independence

All of our director nominees, other than our President and Chief Executive Officer, are independent under Nasdaq listing standards

All directors serving on the Audit and Finance, Compensation and Talent Development, and Nominating, Governance and Sustainability Committees in 2024 were independent directors

Standing Board Committees

Audit and Finance Committee (met 5 times in 2024)

Compensation and Talent Development Committee (met 9 times in 2024)

Nominating, Governance and Sustainability Committee (met 5 times in 2024)

Compliance and Ethics Committee (met 4 times in 2024)

Practices and Policies

Experienced, multi-dimensionally diverse Board with extensive business expertise in life sciences, finance, international business, and operational matters

Commitment to frequent Board refreshment, with two of the director nominees standing for election at the Annual Meeting having joined the Board in January 2023 in connection with the Company’s merger with SeaSpine, three of the director nominees having joined the Board in December 2023, and one of the director nominees having joined the Board in March 2025

Independent directors met in executive session at every regularly scheduled quarterly Board meeting in 2024

98% average attendance by directors at Board and committee meetings in 2024

Separation of the Chair of the Board and CEO positions since January 7, 2024. The Company’s former Board Chair, Catherine M. Burzik, also served as interim CEO from September 12, 2023 until January 7, 2024.

Active Board and committee oversight in the area of enterprise risk management, cybersecurity, and corporate responsibility (“CR”) matters, inclusive of climate-related matters, with direct oversight of enterprise risk management and cybersecurity matters provided by the Audit and Finance Committee and direct oversight of