Form 4: Haemonetics CEO Christopher Simon Acquires Shares from Performance Award, Disposes for Tax Obligations

Haemonetics Corp's President and CEO, Christopher Simon, acquired 66,666 shares from a performance share unit award and simultaneously disposed of 26,234 shares to cover tax obligations on May 30, 2025.

Summary

• Christopher Simon, President and CEO of Haemonetics Corp (HAE), acquired 66,666 shares of common stock on May 30, 2025.
• These shares were earned from a performance share unit (PSU) award granted on May 16, 2022, based on the issuer's total shareholder return relative to the S&P MidCap 400 Index for the performance period from May 16, 2022, to May 15, 2025.
• The PSU award vesting was certified by the Compensation Committee of the Board of Directors on May 30, 2025.
• Concurrently, Mr. Simon disposed of 26,234 shares of common stock at a price of $69.38 per share to satisfy tax withholding obligations related to the vesting of these PSUs.
• Following these transactions, Mr. Simon's beneficial ownership of common stock stands at 375,544 shares, which includes previously reported unvested restricted stock units (RSUs).

Sentiment

Score: 7

Explanation: The overall sentiment is positive as the vesting of performance-based equity awards signifies the achievement of company performance targets. While shares were disposed for tax, this is a standard administrative event and the CEO's net beneficial ownership increased.

Positives

• The vesting of 66,666 performance share units indicates that Haemonetics Corp met its performance targets, specifically its total shareholder return relative to the S&P MidCap 400 Index over the three-year performance period.
• The acquisition of shares by the CEO, even with tax withholding, represents an increase in his net beneficial ownership of 40,432 shares (66,666 acquired 26,234 disposed), aligning management's interests with shareholders.

Negatives

• A portion of the vested shares (26,234 shares) was immediately disposed of to cover tax obligations, reducing the gross number of shares received by the CEO.

Future Outlook

The document does not contain any forward-looking statements or guidance regarding the company's future financial performance or strategic direction.

Industry Context

This Form 4 filing details an insider transaction related to executive compensation, which is a standard disclosure for publicly traded companies. It reflects the outcome of a pre-defined performance-based equity award for a key executive, common across various industries to incentivize long-term performance.

Corporate Governance

Stakeholder Impact

• Shareholders: The vesting of performance share units suggests that the company achieved its performance goals, which could be viewed positively by shareholders as it indicates effective management and alignment of executive incentives with shareholder value creation.

Key Dates

Keywords

Haemonetics Corp, HAE, Christopher Simon, Form 4, Insider Transaction, Performance Share Unit, PSU, Equity Award, Stock Vesting, CEO, Executive Compensation