Company: STAA
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0000950170-25-058174
Chunk: 16

Company: STAAR SURGICAL CO
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 16
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 in a margin account or otherwise pledging Company securities as collateral for a loan without first obtaining pre-clearance from the Office of General Counsel.

Board of Directors’ Role in Risk Oversight

We believe that effective risk management and control processes are critical to our long-term success. Management is responsible for the day-to-day management of strategic, operational, legal, compliance, cybersecurity and financial risks, while our Board, as a whole and through our Board Committees, is responsible for the oversight of our risk management framework and activities. Consistent with this approach, subject matter experts within management, such as the Chief Legal Officer, the Chief Financial Officer, the Vice President of Global Human Resources, and the director of Internal Audit, and on occasion outside consultants, review the framework and/or certain specific risks, as well as trends and emerging risks, with our Board and the applicable Board Committee as part of management presentations that focus on particular business functions, operations, or strategies. Management also provides report-outs regarding its enterprise risk assessments, including its compliance and risk mitigation activities.

Each of the Board's three standing Committees assists the Board in its risk oversight responsibilities, as follows:

The Audit Committee monitors the Company’s enterprise risk management activities and oversees risks related to financial reporting, internal controls, revenue recognition, treasury management, information technology, insurable risks, and compliance with legal and regulatory requirements. In addition, the Audit Committee has oversight responsibility for cybersecurity and data privacy risks.

The Compensation Committee oversees risks related to our compensation programs and policies, as well as human capital management. In addition, the Compensation Committee has oversight responsibility for executive officer development and retention and succession planning for the Chief Executive Officer and management.

The Nominating and Governance Committee oversees risks related to Board and committee organization, membership and structure, succession planning for our directors, and risks relating to our corporate governance practices. In addition, the Nominating and Governance Committee has oversight responsibility related to the Company’s environmental and sustainability policies and practices.

Additional information about the responsibilities of the Board’s three standing Committees can be found below under “Board Committee Structure and Composition.”

Compensation Recoupment (Clawback) Policy

This policy includes standards for seeking the return, recoupment or “claw-back,” of excess incentive-based compensation received by the Company’s executive officers on or after October 2, 2023 and during a three fiscal year lookback (as required by Nasdaq listing standards implementing Exchange Act Rule 10D-1) in certain circumstances following a restatement of STAAR’s financial statements. If,