Company: STAA
Filing Date: 2025-03-18
Form Type: 8-K
Source: 0000950170-25-040620
Chunk: 1

Company: STAAR SURGICAL CO
Filing Date: 2025-03-18
Form: 8-K
Item: Item 5.02
Chunk 1
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 of Marketing and bachelor’s degree from the University of Alabama.

Mr. Foust has no family relationship to the Company nor to any of its directors or executive officers, and there are no transactions in which Mr. Foust has an interest requiring disclosure under Item 404(a) of Regulation S-K. There is no arrangement or understanding between Mr. Foust and any other person pursuant to which Mr. Foust was appointed as an officer of the Company.

In connection with Mr. Foust’s appointment as President and Chief Operating Officer of the Company, the Board approved the grant of a promotional equity award commensurate with his additional duties comprised of (i) an award of restricted stock units (“ RSUs”) for 29,326 shares of the Company’s common stock, a third of which will vest on each of March 17, 2026, March 17, 2027, and March 17, 2028 and (y) an award of performance stock units (“ PSUs”) for a target number of 29,326 shares of the Company’s common stock, which vest as to 0%-200% of target in up to five tranches based on the Company’s financial performance relative to revenue performance targets during the performance period ending December 31, 2027. The promotional equity award is in addition to Mr. Foust’s annual salary, bonus, equity, and health and welfare benefits.

Mr. Stephen C. Farrell will continue to serve as the Chief Executive Officer of the Company and as a member of the Company’s Board but, effective as of the Effective Date, will no longer hold the title of President of the Company.

Ms. Andrews, age 67, retired from the Company in 2020, after more than two decades at the Company. She most recently served as the Company’s Chief Financial Officer, from September 2017 until June 2020, after serving as Vice President, Chief Accounting Officer since 2013. Ms. Andrews also served as the Company’s Vice President, Chief Financial Officer from 2005 to 2013, as its Global Controller from 2001 to 2005, and as its Vice President, International Finance from 1999 to 2001. Since April 2014, Ms. Andrews has served on the Board of Directors of Lineage Cell Therapeutics, a clinical stage biotechnology company focused in the field of regenerative medicine. She currently serves as its Audit Committee Chair and has previously served as its Compensation Committee Chair. Ms. Andrews spent