Company: ICUI
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0000883984-25-000010
Chunk: 20

Company: ICU MEDICAL INC/DE
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 20
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 on our best interests.

Engagement of Compensation Consultant, Peer Group and Market Data

The Compensation Committee conducts an annual review and approval of our compensation strategy, including the review and approval of our compensation peer group. Since 2007, our Compensation Committee has engaged Compensia, a national compensation consulting firm, to assist in reviewing and making appropriate changes to our executive compensation guiding principles, to review and update our compensation peer group when appropriate, to evaluate the competitiveness of our executive officers' compensation, and to assist it in the course of its deliberations concerning executive compensation decisions. Compensia serves at the discretion of the Compensation Committee. The Compensation Committee has assessed the independence of Compensia and concluded that no conflict of interest exists that would prevent Compensia from independently representing the Compensation Committee.

The compensation peer group below was used by the Compensation Committee during 2024 as a reference for understanding the competitive market for executive positions in our industry sector. The market data used for the Compensation Committee’s comparative analysis was drawn from publicly-available sources for the companies in the compensation peer group. The peer group consists of companies in the publicly-held health care equipment and supply sectors that generally met the following characteristics: positive revenue growth, annual revenues of approximately 0.5-3.0 times our revenues and aggregate market values of approximately 0.5-4.0 times our aggregate market value. We believe these characteristics are relevant because their similarity captures the similarity in the labor market for executives.

For 2024, our compensation peer group included the following companies:

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| CONMED               |     | Hologic                       |     | Patterson Companies   |
| The Cooper Companies |     | Integer Holdings              |     | Sotera Health Company |
| DENTSPLY SIRONA      |     | Integra LifeSciences Holdings |     | STERIS plc            |
| Envista Holdings     |     | Masimo                        |     | Teleflex              |
| Haemonetics          |     | Merit Medical                 |     |                       |

Based on the peer analysis performed by Compensia in 2024 for the purpose of selecting our 2024 peer group, Nuvasive was removed, and Merit Medical was added. In general, peer companies are removed when they no longer fit the selection criteria, as described further below, and added when they reflect the financial and industry characteristics more similar to our company.

In making compensation decisions, the Compensation Committee believes that a critical factor in ensuring the Company’s ability to