Company: OFIX
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-061062
Chunk: 4

Company: Orthofix Medical Inc.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 4
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 and other executive officers on financial, strategic, and operational goals established by the Board of Directors, upon the recommendation of its Compensation and Talent Development Committee, designed to create sustained value for our shareholders. Our guiding compensation principle is to pay for performance. Our compensation program is also designed to motivate, measure, and reward the successful achievement of our strategic and operating goals without promoting excessive or unnecessary risk taking. We consider the input of our shareholders on our executive compensation program. At our 2024 annual meeting of shareholders, 97% of the votes cast were in favor of the advisory vote on our executive compensation, or the say-on-pay proposal. At least 90% of the votes cast were in favor of the say-on-pay proposal at each of our last nine annual meetings. We believe this consistent shareholder support validates our pay for performance approach to executive compensation.

2024 Executive Total Compensation Mix The charts below show the annual total target direct compensation (full-year base salary, target annual cash incentive compensation and long-term incentive equity compensation awarded at target) for Massimo Calafiore, our President and Chief Executive Officer, and our other named executive officers for 2024. These charts illustrate that 92% of Mr. Calafiore’s annual total target direct compensation and 83% of our other 2024 named executive officers’ annual total target direct compensation was performance-based or variable.

Governance of Executive Compensation

Consistent with shareholder interests and market best practices, our executive compensation program includes the following sound governance features:

What we do:

Align executive pay with the overall performance of our business and the Company’s common stock

Set meaningful performance targets for annual and performance-based stock awards, approved by our Compensation and Talent Development Committee

Include caps on annual cash incentive plan payments and shares earned under performance-based stock awards

Discourage unnecessary and inappropriate risk taking, and obtain an annual independent risk assessment analysis of our executive compensation program

Maintain robust stock ownership guidelines for our executive officers and directors, which were recently updated in December 2024

Maintain an incentive compensation clawback policy for executive officers

Include “double-trigger” change in control (“CIC”) vesting provisions in all equity grants to executive officers

Our Compensation and Talent Development Committee directly retains an independent compensation consultant who conducts an annual benchmarking of our executive compensation program against an industry peer group

What we don’t do:

XPay dividends or dividend equivalents on unvested