Company: ICUI
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000883984-25-000010
Chunk: 86

Company: ICU MEDICAL INC/DE
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 86
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 raised by the proponent are misplaced. Some of the Company’s strong corporate governance practices include the following:

• each of our directors is elected annually for a 1-year term;

• 6 of our 7 directors, or 86%, are independent directors under the standards adopted by the SEC and Nasdaq;

• each of the three Board committees—Audit and Compliance, Nominating/Corporate Governance and Compensation—is composed solely of independent directors;

• the Board has appointed a Lead Independent Director who, among other things, presides at meetings of the Board at which the Chairman is not present, including executive sessions of the independent directors, and serves as principal liaison between the Chairman and the independent directors;

• we proactively engage with our stockholders outside of the annual meeting process to ensure important matters are raised and considered by all interested stakeholders, including those relating to the Company’s financial performance, executive compensation, and the long-term strategy; and

• we hold an annual stockholder vote on our executive compensation, with stockholders overwhelmingly approving such compensation by voting approximately 96% in favor in 2024.

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The limited existing supermajority voting thresholds in our governance documents are in the best interests of our stockholders.

Under our governance documents, a majority of votes cast, or simple majority, is already the voting standard for nearly all matters voted upon by our stockholders. Only very limited circumstances require the affirmative vote of two-thirds of the outstanding shares:

• amendments to our Amended and Restated Certificate of Incorporation to (i) shorten the term of a director, (ii) permit directors to be removed without cause or (iii) increase the size of the Board; and

• amendments to our Amended and Restated Bylaws.

These voting standards are intended to comply with applicable law, maximize long-term value for all stockholders and safeguard against self-interested actions of a few large stockholders. If we adopt a simple majority voting standard, as the proposal requests, a few large stockholders could approve certain key actions and significantly alter the governance and structure of our Company. For example, low voter turnout could cause our three largest stockholders, collectively holding approximately 30% of the Company’s common stock, to yield significant influence and control over the Company and the Board.

Our Board believes that in the limited circumstances as provided in our Amended and Restated Certificate of Incorporation and Amended and Restated Bylaws, the higher voting requirements are appropriate because certain fundamental matters should