Form 4: Haemonetics EVP and General Counsel Michelle Basil Reports Stock Transactions

Michelle Basil, EVP and General Counsel of Haemonetics, reports the acquisition and disposal of company stock, including shares from a performance share unit award and sales under a 10b5-1 trading plan.

Summary

• Michelle Basil, EVP and General Counsel of Haemonetics, reported transactions involving Haemonetics Corp [HAE] common stock.
• On May 28, 2024, Ms. Basil acquired 24,748 shares from a performance share unit (PSU) award at $0 cost.
• Also on May 28, 2024, 11,758 shares were withheld for tax obligations related to the PSU vesting at a price of $95.73.
• On May 29, 2024, Ms. Basil sold 8,896 shares at a weighted average price of $87.86 and 4,094 shares at a weighted average price of $88.57 under a 10b5-1 trading plan.
• Following these transactions, Ms. Basil beneficially owns 31,257 shares of Haemonetics common stock, including unvested restricted stock units (RSUs).

Sentiment

Score: 5

Explanation: The sentiment is neutral. The transactions are part of a pre-existing trading plan and PSU vesting, so they don't necessarily indicate a change in the executive's outlook on the company.

Positives

• The acquisition of 24,748 shares from a performance share unit award indicates that performance targets were met, reflecting positively on the company's performance.

Negatives

• The sale of shares by Ms. Basil, even under a pre-existing 10b5-1 trading plan, could be perceived negatively by some investors.

Risks

• Sales of shares by company executives, even if planned, can sometimes create uncertainty among investors.

Industry Context

Insider trading activity is always closely watched in the medical device industry, as it can provide signals, though often noisy, about executive confidence in the company's prospects. Trading plans such as 10b5-1 are common to avoid accusations of trading on inside information.

Comparison to Industry Standards

• Executive compensation packages including PSUs are common in the medical device industry, aligning executive incentives with shareholder returns.
• Companies like Medtronic and Boston Scientific also utilize similar performance-based equity awards.
• The use of 10b5-1 trading plans is a standard practice among executives at publicly traded companies to manage their stock sales in compliance with insider trading regulations.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the potential for price fluctuations, but the 10b5-1 plan mitigates concerns about insider information.

Key Dates