# EDGAR Filing Document

**Accession Number:** 0000096943
**File Stem:** 0000096943-25-000104
**Filing Date:** 2025-6
**Character Count:** 40459
**Document Hash:** 29a5afe1f32c052573619f83cb25a300
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000096943-25-000104.hdr.sgml**: 20250627

**ACCESSION NUMBER**: 0000096943-25-000104

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250627

**DATE AS OF CHANGE**: 20250627

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TELEFLEX INC
- **CENTRAL INDEX KEY:** 0000096943
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 231147939
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-05353
- **FILM NUMBER:** 251085126

**BUSINESS ADDRESS:**
- **STREET 1:** 550 E SWEDESFORD RD
- **STREET 2:** SUITE 400
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087
- **BUSINESS PHONE:** 610-225-6800

**MAIL ADDRESS:**
- **STREET 1:** 550 E SWEDESFORD RD
- **STREET 2:** SUITE 400
- **CITY:** WAYNE
- **STATE:** PA
- **ZIP:** 19087

**UNITED STATES** <br>**SECURITIES AND EXCHANGE COMMISSION**

**Washington, DC 20549**

**FORM 11-K**

(Mark One)

⌧**&nbsp;&nbsp;&nbsp;&nbsp;ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the fiscal year ended December 31, 2024

OR

□**&nbsp;&nbsp;&nbsp;&nbsp;TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from _________________________________ to ______________________________

**Commission File Number: 001-05353** <br>____________________

A.Full title of the plan and the address of the plan, if different from that of the issuer named below:

Teleflex 401(k) Savings Plan

B.Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Teleflex Incorporated <br>550 East Swedesford Road, Suite 400

Wayne, Pennsylvania 19087

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**TELEFLEX 401(k) SAVINGS PLAN**

AUDITED FINANCIAL STATEMENTS AND SCHEDULE

Years Ended December 31, 2024 and 2023

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | Page No. |
| REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 2 |
| AUDITED FINANCIAL STATEMENTS |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements of Net Assets Available for Benefits | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statements of Changes in Net Assets Available for Benefits | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notes to Financial Statements | 5 |
| SUPPLEMENTAL SCHEDULE |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schedule H, Line 4i - Schedule of Assets (Held at End of Year) | 11 |
| SIGNATURE | 13 |
| INDEX TO EXHIBITS | 14 |

---

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***Report of Independent Registered Public Accounting Firm***

Plan Administrator and Participants

Teleflex 401(k) Savings Plan

Wayne, Pennsylvania

***Opinion on the Financial Statements***

We have audited the accompanying statements of net assets available for benefits of the Teleflex 401(k) Savings Plan (the "Plan") for the years ended December 31, 2024 and 2023, the related statement of changes in net assets available for benefits for the years then ended, and the related notes (collectively, the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the years then ended, in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risk of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by the Plan's management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provides a reasonable basis for our opinion.

***Supplemental Information***

The supplemental information in the accompanying schedule of assets (held at end of year) as of December 31, 2024, has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental information is presented for the purpose of additional analysis and is not a required part of the financial statements but included supplemental information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental information is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ BDO USA, P.C.

We have served as the Plan's auditor since 2024.

Philadelphia, Pennsylvania

June 27, 2025

------

**TELEFLEX 401(k) SAVINGS PLAN**

STATEMENTS OF NET ASSETS

AVAILABLE FOR BENEFITS

*December 31, 2024 and 2023*

---

| | | | |
|:---|:---|:---|:---|
| | | 2024 | 2023 |
| Assets |  |  |  |
| Cash and cash equivalents | Cash and cash equivalents | $8622 | $— |
| Investments, at fair value | Investments, at fair value |  |  |
| Registered investment companies | Registered investment companies | 322899889 | 249143441 |
| Common collective trusts | Common collective trusts | 334344077 | 306593414 |
| Common stock fund | Common stock fund | 33639899 | 52439108 |
| Total investments, at fair value | Total investments, at fair value | 690883865 | 608175963 |
| Receivables |  |  |  |
| Participant loans receivable | Participant loans receivable | 8101350 | 7203389 |
|  | Net assets |  |  |
|  | Available for benefits | $698993837 | $615379352 |

---

See accompanying notes

------

**TELEFLEX 401(k) SAVINGS PLAN**

STATEMENTS OF CHANGES IN NET ASSETS

AVAILABLE FOR BENEFITS

*For the years ended December 31, 2024 and 2023*

---

| | | |
|:---|:---|:---|
| | 2024 | 2023 |
| Additions to net assets |  |  |
| Contributions |  |  |
| Employer | $17908894 | $17874886 |
| Employee | 34663703 | 34012643 |
| Rollover | 10435822 | 10770335 |
| Other contributions |  | 2182 |
| Total contributions | 63008419 | 62660046 |
| Investment income |  |  |
| Interest and dividends | 13167629 | 8104670 |
| Net appreciation in fair value of investments | 50480676 | 74784700 |
| Total investment income | 63648305 | 82889370 |
| Interest Income on participant loans  | 603438 | 426732 |
| Total additions | 127260162 | 145976148 |
| Deductions from net assets |  |  |
| Benefits paid to participants | 86102079 | 58222174 |
| Administrative fees | 527278 | 510585 |
| Other deductions |  | 15015 |
| Total deductions | 86629357 | 58747774 |
| Net increase | 40630805 | 87228374 |
| Plan assets transferred in (Note G) | 42983680 |  |
| Net assets available for benefits |  |  |
| Beginning of year | 615379352 | 528150978 |
| End of year | $698993837 | $615379352 |

---

See accompanying notes

------

**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

**Note A — General description of the plan and summary of significant accounting policies**

***<u>General Description of the Plan</u>*** 

A general description of the Teleflex 401(k) Savings Plan (the "Plan") follows. Participants should refer to the Plan document for a more complete description of the Plan's provisions.

***General*** - The Plan is a defined contribution plan, which was implemented effective July 1, 1985. Certain employees of Teleflex Incorporated (the "Company") or one of its related entities that is a participating employer in the Plan who have attained age 21 are eligible to participate in the Plan. Full-time and part-time employees are eligible to enter the Plan at their date of hire. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).

The Plan includes an employee stock ownership plan (ESOP) feature, as defined in Section 4975(e)(7) of the Internal Revenue Code of 1986, as amended (the "Code"). The ESOP feature permits a participant to elect to have any dividend paid on the shares of Company common stock allocated to his or her account either paid in cash or deposited into his or her account in the ESOP portion of the Plan and reinvested in the Company common stock fund.

***Safe Harbor Plan/Automatic Contributions*** - The Plan is intended to satisfy the requirements to be a "qualified automatic contribution arrangement" (QACA) with the meaning of Code Sections 401(k)(13) and 401(m)(12), as well as an "eligible automatic contribution arrangement" (EACA) within the meaning of Code Section 414(w). The EACA permits a penalty-free distribution of "accidental" automatic deferrals made to the Plan within 90 days of the effective date of a participant's first automatic contribution. The QACA is a safe harbor plan design that allows the Plan to automatically satisfy annual nondiscrimination tests (the actual deferral percentage (ACP) and the actual contribution percentage (ACP) tests.

Under the safe harbor design, once a participant becomes eligible to participate in the Plan, the participant is automatically enrolled at a 3% deferral rate unless opting out of the automatic deferral feature. Thereafter, the automatic deferral percentage increases by 1% each year up to a maximum automatic deferral of 10%. As part of the QACA, the Company makes "Safe Harbor Matching Contributions" in an amount equal to 100% of a participant's "elective deferral contributions", described below, up to 5% of the participant's compensation.

***Contributions*** - Participants were able to contribute up to the lesser of $23,000 and $22,500 or 50% of their annual compensation during 2024 and 2023, respectively. These contributions are referred to as "elective deferral contributions" and are withheld from participant's pay on a pre-tax basis for federal income tax and most state income tax purposes. However, participants may designate all or part of their elective deferral contributions as "Roth elective deferral contributions." Roth elective deferral contributions are made on an after-tax basis for federal income tax purposes.

In addition, participants who reach age 50 or older and contribute the maximum permitted under the Plan may make an additional pre-tax contribution (a "catch-up contribution") of up to $7,500 during 2024 and 2023, respectively. As with regular elective deferral contributions, participants may elect to designate all or part of their catch-up contributions as after-tax "Roth catch-up contributions." Participants may also contribute amounts representing distributions from other qualified benefit plans (via a rollover contribution into the Plan). As stated above, the Company makes employer Safe Harbor Matching Contributions equal to 100% of elective deferral contributions (including Roth elective deferral contributions and catch-up contributions) up to 5% of compensation. For purposes of calculating contributions, compensation is limited to a maximum of $345,000 and $330,000 during 2024 and 2023, respectively. As discussed below, the Company also made discretionary profit sharing contributions to the Plan for the year ended December 31, 2024 for the benefit of eligible participants who were employed by the Company on December 1, 2024; refer to Note G for additional information.

***Participant Accounts*** *-* Each participant's account is credited with the participant's contribution and the employer contributions, as well as an allocation of Plan earnings. Participants may access their accounts via a website and toll-free telephone number. Fund transfers and investment election changes may be elected daily or once in a 30-day timeframe depending on the fund type. A participant may stop, start, or change their 401(k) salary deferral rate at will.

------

**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

***Plan Loans*** *-* Active employees may elect to take up to two loans from the Plan at any given time. As required by law, a loan amount is limited to the lesser of $50,000 or 50% of the participant's vested account and must be repaid within five years unless the loan is for the purchase of a primary residence. The loans are secured by the balance in the participant's account and bear a fixed interest rate over the term of the loan. The interest rate is established on the date the loan is granted at prime rate plus 2%. Loan repayments are processed via payroll deduction on an after-tax basis. The entire unpaid balance on any outstanding loan and all interest due thereon will be processed as a taxable distribution and will reduce the participant's distributable account balance if any of the following occur: (i) a participant fails to make an installment payment due under the loan by the last day of the calendar quarter following the calendar quarter in which the required installment payment was due; (ii) a participant on a leave of absence has an unpaid amount for a period of a year; or (iii) a participant incurs a severance from employment.

***Vesting*** - Participants are always 100% vested in their own 401(k) elective deferral contributions. With the exception of certain discretionary employer contributions (if any) that become 100% vested after participants have completed three years of employment, the Company's contributions, including Safe Harbor Matching Contributions and discretionary profit sharing contributions made for years beginning on and after January 1, 2024, become 100% vested after participants have completed two years of employment.

***Payment of Benefits*** - The Plan provides that a participant may elect to withdraw 100% of his or her vested account balance at the termination of employment. A participant who is an employee and has attained age 59½ may elect to withdraw any portion of his or her non-forfeitable account in accordance with the procedures established by the Plan Administrator. Withdrawals shall be made on a pro-rata basis if a Participant elects to make a withdrawal from more than one sub-account in his or her account. In addition, a participant may elect a hardship withdrawal, as defined by the Plan, of his or her elective deferral contributions, Roth elective deferral contributions, catch-up contributions and Roth catch-up contributions. A participant may elect to withdraw his or her rollover account at any time. Mandatory distributions are made in accordance with Plan provisions.

***Forfeitures*** - Forfeitures of terminated participants' nonvested accounts are used to reduce the amount of contributions made to the Plan by the Company and the other participating employers in the Plan if the Company and participating employers do not elect to fund the entire amount of such contributions out of their assets and to the extent such contributions are not funded with assets from the qualified replacement plan suspense account described in Note G. In addition, for any year, to the extent that such forfeitures are not used to reduce the Company's or other participating employers' contributions to the Plan, the Plan administrator may allocate and use forfeitures to pay Plan expenses. The amount of unallocated forfeitures at December 31, 2024 and 2023 were $322,983 and $220,382, respectively. For the year ended December 31, 2024 and 2023, forfeitures used to offset employer contributions were $799,834 and $600,026, respectively.

***Plan Termination*** - Although it has not expressed any intent to do so, the Company has the right to discontinue its contributions at any time and to terminate the Plan at any time, subject to the provisions set forth in ERISA. In the event of Plan termination, distribution of participant accounts shall be in accordance with ERISA and its applicable regulations and Article XIII of the Plan document.

***Plan Amendments -*** A plan amendment was executed on December 4, 2024, resulting in the following updates to the Plan:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Safe Harbor Matching Contributions shall not be made to the Plan for Plan years beginning on or after January 1, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "Safe Harbor Non-Elective Contributions" may be made to the Plan for Plan years beginning on and after January 1, 2025;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• With respect to the transfer of excess assets from the Teleflex Incorporated Retirement Income Plan (TRIP) to the Plan as described in Note G, the Plan was amended to (i) clarify that it is a "qualified replacement plan" as defined in Code Section 4980(d) ("QRP"), (ii) clarify that the Plan will contain a suspense account that holds the excess TRIP assets transferred to the Plan, (iii) provide that the assets in the suspense account shall be used to fund employer profit sharing contributions, if any, and Safe Harbor Non-Elective Contributions, and (iv) provide that the Company may make a settlor decision to use assets in the suspense account to pay reasonable administrative expenses of the Plan;

------

**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• A discretionary employer profit sharing contribution for the Plan year beginning January 1, 2024 shall be allocated based on a uniform dollar amount (per capita) to each eligible participant employed by the Company or another participating employer in the Plan on December 1, 2024;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Effective January 1, 2024, Palette Life Sciences AB (Palette), which was acquired by the Company on October 10, 2023, was added as a participating employer in the Plan, and with respect to each individual who was an active employee of Palette immediately prior to January 1, 2024, the Plan was amended to reflect the grant of full service credit for the individual's most recent continuous period of service with Palette for purposes of eligibility and vesting under the Plan; The provisions regarding discretionary "Non-Safe Harbor Matching Contributions" were amended effective January 1, 2025, to (i) limit such contributions to a participant's elective deferrals that do not exceed 6% of the participant's compensation, (ii) provide that the rate of such contributions shall be uniform on all elective deferral contributions that are eligible for the contributions, and (iii) limit the maximum such contribution that may be allocated to any participant for a Plan year to 4% of the participant's compensation for that Plan year;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The method for allocating forfeitures was clarified;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The vesting provisions were revised to provide (i) 100% vesting after three years of service with respect to Non-Safe Harbor Matching Contributions made for Plan years beginning before January 1, 2025 and Plan Years beginning after the end Plan year in which the assets in the QRP suspense account are exhausted; and (ii) 100% vesting after two years of service with respect to Safe Harbor Non-Elective Contributions, Profit Sharing Contributions made for Plan years beginning on and after January 1, 2024, and Non-Safe Harbor Matching Contributions made for Plan years beginning on and after January 1, 2025, through the end Plan year in which the assets in the QRP suspense account are exhausted; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The following provisions were added to comply with or as permitted by the SECURE 2.0 Act of 2022:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ effective January 1, 2023, increase the required minimum distribution age from age 72 to 73 for participants born on or after January 1, 1951;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ effective January 1, 2023, participants may self-certify that they have satisfied the requirements for a hardship withdrawal;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ effective January 1, 2024, prior to a participant's death, the participant's account balance for purposes of required minimum distributions does not include the participant's Roth elective deferral contributions account; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;◦ effective January 1, 2024, increase the involuntary cash out limit to $7,000 ($5,000 prior to January 1, 2024).

***Investments*** - Participants direct the investment of their contributions into various investment options offered by the Plan. The Plan currently offers several mutual funds, common collective trusts, as well as the Company common stock fund as investment options for participants.

***<u>Significant Accounting Policies</u>***

The significant accounting policies of the Plan employed in the preparation of the accompanying financial statements follow:

***Valuation of investments*** - The Plan's investments are stated at fair value pursuant to the provisions of Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) No. 820, *Fair Value Measurements and Disclosures*. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. See Note E for further information on fair value measurements.

***Participant Loans Receivable*** - All transactions are measured at their unpaid principal balance plus any accrued but unpaid interest. Any individual credit risk related to participant loans is mitigated by the fact that these loans are secured by the participant's vested balance. If a participant were to default, the participant's account balance would be offset by the unpaid balance of the loan, and the participant would be subject to tax on the unpaid loan balance. As such, the participant is the only party affected in the event of a default.

***Revenue Recognition and Method of Accounting*** - All transactions are recorded on an accrual basis. Purchases and sales of investments are recorded on a trade-date basis. Interest income is accrued when earned.

------

**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

Dividend income is recorded on the ex-dividend date. Capital gain distributions are included in dividend income. Net appreciation (depreciation) includes the gains and losses on investments bought and sold as well as held during the year. Expenses are recorded as incurred.

***Use of Estimates*** - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reported amounts of assets, liabilities and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

**Note B — Administration of the plan**

The Plan is administered by a committee of at least three members appointed by the Company's Board of Directors. The committee is the Plan Administrator and fiduciary for ERISA purposes. Charles Schwab Bank ("Schwab") is the trustee and third-party administrator of the Plan. Schwab charges a per participant fee for the administrative services that it provides to the Plan. Actively employed participants pay a small portion of the participant fee on a quarterly basis. The Company and any other Company affiliate that participates in the Plan (a "Participating Employer") pay the remaining portion of the fee for participants who are actively employed by the Company or a Participating Employer. Participants who are not actively employed by the Company or a Participating Employer pay the per participant administrative fee from their Plan accounts. Investment management fees charged by each mutual fund are netted against returns. Investment management fees charged by the common collective trust funds are charged to participants with balances in the respective trust.

**Note C — Tax status of the plan**

The Plan obtained its latest determination letter on August 4, 2015, in which the Internal Revenue Service indicated that the Plan, as then designed, was in compliance with the applicable requirements of the Internal Revenue Code ("Code") (i.e., satisfied the applicable requirements of Code Section 401 et. seq. to be a tax-qualified plan and satisfied the applicable requirement of Code Section 501 et. seq. for the Plan's trust to be a tax-exempt trust). Although the Plan has been amended since receiving the determination letter, the Plan administrator and the Plan's legal counsel believe that the Plan as currently designed, continues to satisfy the applicable requirements of Code Sections 401 and 501 et. seq. to be a tax-qualified plan and tax-exempt trust. In addition, to the knowledge of the Plan administrator and the Plan's legal counsel, the Plan and its trust are currently being operated in compliance with the applicable requirements of Code Sections 401 and 501 et. seq. and, therefore, the Plan and its related trust are tax-qualified and tax-exempt, respectively.

Accounting principles generally accepted in the United States of America require the Plan's management to evaluate tax positions taken by the Plan and recognize a tax liability or asset if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. The Plan Administrator has analyzed the tax positions by the Plan and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or asset or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

**Note D — Related party transactions and party in interest transactions**

The Plan participants invest in shares of the Company's stock through the Teleflex Incorporated common stock fund. The common stock fund held 187,903 and 209,500 shares of the Teleflex Incorporated common stock representing 5% and 8% of Plan assets as of December 31, 2024 and 2023, respectively. These transactions, in addition to participant loan receivables, qualify as party-in-interest transactions and are exempt from the prohibited transaction rules.

Certain administrative functions of the Plan are performed by officers or employees of the Company. No such officer or employee received compensation from the Plan.

------

**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

**Note E — Fair value measurements**

FASB ASC 820 establishes a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy under FASB ASC 820 are described as follows:

*Level 1 -* inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.

*Level 2* - inputs to the fair value measurement that include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by correlation or other means.

*Level 3 -* inputs to the fair value measurement that are unobservable inputs for the asset or liability.

The asset or liability's fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.

A summary by level within the fair value hierarchy (as defined above) of the Plan's investments measured at fair value on a recurring basis is as follows:

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| | | | |
|:---|:---|:---|:---|
| | Level 1 | Level 2 | December 31, 2024 |
| Registered investment companies | $322899889 | $— | $322899889 |
| Company common stock fund |  | 33639899 | 33639899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments in fair value hierarchy | 322899889 | 33639899 | 356539788 |
| Common collective trusts measured at net asset value <sup>(1)</sup> |  |  | 334344077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments, at fair value | $322899889 | $33639899 | $690883865 |
|  | Level 1 | Level 2 | December 31, 2023 |
| Registered investment companies | $249143441 | $— | $249143441 |
| Company common stock fund |  | 52439108 | 52439108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments in fair value hierarchy | 249143441 | 52439108 | 301582549 |
| Common collective trusts measured at net asset value <sup>(1)</sup> |  |  | 306593414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments, at fair value | $249143441 | $52439108 | $608175963 |

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(1)&nbsp;&nbsp;&nbsp;&nbsp;The common collective trusts are measured at the net asset value of units held at December 31, 2024 and December 31, 2023. In accordance with ASC 820, certain investments that are measured at fair value using the NAV per share practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in the above totals are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the statements of net assets available for benefits. Redemptions for common collective trusts are allowed daily without any restrictions or notice periods, and there are no unfunded commitments.

The following is a description of the valuation methodologies used for assets measured in fair value hierarchy:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Registered investment companies are valued at quoted market prices, which represent the net asset value of shares held by the Plan at year end. The funds are deemed to be actively traded.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Company common stock fund is valued at the combined market value of the underlying stock based upon the closing price of the stock on its primary exchange times the number of shares held and the short-term cash component at year end.

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**TELEFLEX 401(k) SAVINGS PLAN**

NOTES TO FINANCIAL STATEMENTS

*December 31, 2024 and 2023*

**Note F — Risks and uncertainties**

Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility risks. Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and such changes could materially affect participants' account balances and the amounts reported in the statement of net assets available for benefits.

**Note G — Plan Assets Transferred In**

During 2024, following the Company's decision to terminate the TRIP, a U.S. defined benefit pension plan, the Company settled all remaining benefits. As the assets within the TRIP Trust exceeded the obligations after settlement, the Company elected to transfer $42,983,680 in surplus assets to a suspense account within the Plan. The surplus assets were utilized to fund a $6,253,500 discretionary profit sharing contribution in 2024, with the remaining balance expected to be utilized for the Company's future Safe Harbor Non-Elective Contributions and/or discretionary profit sharing contributions under the Plan. A portion of these transferred assets must be utilized annually to comply with the IRS qualified replacement plan requirements.

**Note F — Subsequent Events**

Plan Management has evaluated all events or transactions that occurred through June 27, 2025, the date the financial statements were issued and determined that there are no matters requiring adjustment to or disclosure in the accompanying financial statements and related notes.

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***Supplemental Schedule***

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**TELEFLEX 401(k) SAVINGS PLAN**

SCHEDULE H, LINE 4i - SCHEDULE OF ASSETS (HELD AT END OF YEAR)

*Year Ended December 31, 2024*

Plan EIN# 23-1147939, Plan 010

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| | | | |
|:---|:---|:---|:---|
| | (b) | (c) | (e) |
| (a) | Identity of Issuer, Borrower, Lessor, or Similar Party | Description of Investment, Including Maturity Date, Rate of Interest, Collateral, Par or Maturity Value | Current Value |
|  | American Funds New Perspective Fund; Class R-6 | Registered Investment Company | 3920598 |
|  | American Funds New World Fund; Class R6 | Registered Investment Company | 2375520 |
|  | Columbia Dividend Income: Institutional Shares | Registered Investment Company | 17852447 |
|  | JPMorgan Small Cap Equity Fund; Class R6 | Registered Investment Company | 5570719 |
|  | JPMorgan Large Cap Growth Fund; Class R6 | Registered Investment Company | 44975347 |
|  | Metropolitan West Total Return Bond Fund; P Class | Registered Investment Company | 5245160 |
|  | Touchstone Midcap R6 | Registered Investment Company | 12848665 |
|  | Vanguard Explorer Fund: Admiral Shares | Registered Investment Company | 11114371 |
|  | Vanguard Extended Market Index Fund: Institutional Shares | Registered Investment Company | 9172788 |
|  | Vanguard Federal Money Market Fund | Registered Investment Company | 49672264 |
|  | Vanguard Inflation-Protected Securities Fund: Admiral Shares | Registered Investment Company | 3966726 |
|  | Vanguard Institutional Index Fund | Registered Investment Company | 58801759 |
|  | Vanguard International Growth: Admiral Shares | Registered Investment Company | 14104290 |
|  | Vanguard Real Estate Index: Admiral Shares | Registered Investment Company | 2883608 |
|  | Vanguard Small-Cap Index Fund: Admiral Shares | Registered Investment Company | 7901719 |
|  | Vanguard Total Bond Market Index Fund Institutional Shares | Registered Investment Company | 13520521 |
|  | Vanguard Total International Stock Index Fund Institutional Shares | Registered Investment Company | 16058300 |
|  | Vanguard Total World Stock Index Fund: Admiral Shares | Registered Investment Company | 8296041 |
|  | Fidelity Large Cap Growth Index | Registered Investment Company | 6028684 |
|  | Vanguard Wellington Fund Admiral Shares | Registered Investment Company | 28590362 |
| \* | Teleflex Stock Fund | Unitized Stock Fund | 33639899 |
|  | Vanguard Retirement Savings Trust III | Common Collective Trust Fund | 22997869 |
|  | Vanguard Target Retirement 2020 II | Common Collective Trust Fund | 4924361 |
|  | Vanguard Target Retirement 2025 II | Common Collective Trust Fund | 24599295 |
|  | Vanguard Target Retirement 2030 II | Common Collective Trust Fund | 34956248 |
|  | Vanguard Target Retirement 2035 II | Common Collective Trust Fund | 57570502 |
|  | Vanguard Target Retirement 2040 II | Common Collective Trust Fund | 45972238 |
|  | Vanguard Target Retirement 2045 II | Common Collective Trust Fund | 50108194 |
|  | Vanguard Target Retirement 2050 II | Common Collective Trust Fund | 36387095 |
|  | Vanguard Target Retirement 2055 II | Common Collective Trust Fund | 31136810 |
|  | Vanguard Target Retirement 2060 II | Common Collective Trust Fund | 16448799 |
|  | Vanguard Target Retirement 2065 II | Common Collective Trust Fund | 4007329 |
|  | Vanguard Target Retirement 2070 II | Common Collective Trust Fund | 647794 |
|  | Vanguard Retirement Income Trust II | Common Collective Trust Fund | 4587543 |
| \* | Participant Loans | Participant Loans at rates between 5.25% to 11% with various maturities through November 2054 | 8101350 |
|  |  |  | $698985215 |
| \*Party-in-interest. | \*Party-in-interest. |  |  |
| Cost information not required as all investments are participant-directed. | Cost information not required as all investments are participant-directed. | Cost information not required as all investments are participant-directed. |  |

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**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | |
|:---|:---|
| Teleflex 401(k) Savings Plan | Teleflex 401(k) Savings Plan |
| By: | /s/ Cameron P. Hicks |
|  | Cameron P. Hicks <br>Corporate Vice President & Chief Human Resource Officer |

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Dated: June 27, 2025

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<u>INDEX TO EXHIBITS</u>

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| | | |
|:---|:---|:---|
| <u>Exhibit No.</u> | | <u>Description</u> |
| 23.1 | - | <u>[Consent of BDO USA, P.C, Independent Registered Public Accounting Firm](a2024auditorconsentletter.htm)</u> |

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## Exhibit 23.1

**Exhibit 23.1**

***Consent of Independent Registered Public Accounting Firm***

Teleflex 401(k) Savings Plan

Wayne, Pennsylvania

We hereby consent to the incorporation by reference in the Registration Statements on Form S-8 (333-127103, 333-101005, 33-53385) of Teleflex Incorporated of our report dated June 27, 2025, relating to the financial statements and supplemental schedule of Teleflex 401(k) Savings Plan which appear in this Form 11-K for the year ended December 31, 2024.

/s/ BDO USA, P.C.

Philadelphia, Pennsylvania

June 27, 2025

<br>