Form 4: Haemonetics SVP of Human Resources Reports Vesting of Performance Share Units and Tax-Related Stock Disposition

Laurie A. Miller, SVP of Human Resources at Haemonetics Corp (HAE), reported the vesting of performance share units (PSUs) and a subsequent disposition of shares for tax obligations.

Summary

• Laurie A. Miller, Senior Vice President of Human Resources at Haemonetics Corp (HAE), reported changes in her beneficial ownership of company common stock.
• On May 30, 2025, Ms. Miller acquired 7,777 shares of common stock, representing shares earned from a performance share unit (PSU) award.
• This PSU award was granted on May 16, 2022, and its vesting was based on Haemonetics' total shareholder return relative to the S&P MidCap 400 Index for the performance period from May 16, 2022, to May 15, 2025.
• The Compensation Committee of the Board of Directors certified the performance on May 30, 2025.
• Concurrently, on May 30, 2025, Ms. Miller disposed of 2,283 shares of common stock at a price of $69.38 per share.
• This disposition was for shares withheld to cover tax obligations related to the vesting of the PSUs.
• Following these transactions, Ms. Miller's beneficial ownership of Haemonetics common stock stands at 25,968 shares, which includes previously reported unvested restricted stock units (RSUs).

Sentiment

Score: 7

Explanation: The sentiment is positive as the vesting of performance-based equity awards indicates the achievement of company performance targets. The disposition for tax purposes is a neutral, administrative event.

Positives

• The vesting of 7,777 performance share units indicates that Haemonetics Corp met or exceeded the performance targets set for the May 2022 to May 2025 period, specifically regarding total shareholder return relative to the S&P MidCap 400 Index.
• The successful vesting of PSUs aligns management incentives with shareholder value creation, demonstrating effective corporate governance and compensation practices.

Negatives

• The disposition of 2,283 shares was solely for tax withholding purposes, which is a standard procedure for equity compensation and does not reflect a negative sentiment or sale by the insider.

Future Outlook

This Form 4 filing reports past transactions related to executive compensation and does not contain forward-looking statements or guidance regarding the company's future performance or outlook.

Management Comments

• The vesting of the performance share unit award reflects the company's performance against pre-defined metrics, as certified by the Compensation Committee of the Board of Directors.

Industry Context

The use of Performance Share Units (PSUs) tied to relative total shareholder return (TSR) against an index like the S&P MidCap 400 is a common and widely accepted practice in executive compensation across various industries. This structure aims to align executive incentives with long-term shareholder value creation and relative market performance.

Comparison to Industry Standards

• The structure of the PSU award, linking vesting to total shareholder return relative to the S&P MidCap 400 Index, is a standard and robust practice for performance-based equity compensation, commonly observed in publicly traded companies across various sectors.
• Many companies, including peers in the medical technology and healthcare sectors, utilize similar relative TSR metrics to ensure executive pay is aligned with market performance and shareholder returns.
• The disposition of shares for tax withholding upon vesting is a routine and expected event for equity compensation, consistent with practices across all industries where equity awards are granted.

Related Party Transactions

• The reported transactions represent standard equity compensation events between an executive (Laurie A. Miller) and the company (Haemonetics Corp), which are considered related party transactions in the context of executive compensation.

Stakeholder Impact

• Shareholders: The vesting of PSUs based on relative total shareholder return indicates that management's incentives are aligned with shareholder interests, potentially leading to improved long-term value.
• Employees: The successful vesting of executive equity awards can signal positive company performance, potentially boosting morale and confidence among employees.

Key Dates

Keywords

Haemonetics Corp, HAE, Form 4, Insider Transaction, Performance Share Units, PSU, Restricted Stock Units, RSU, Equity Compensation, Executive Compensation, Stock Ownership, Tax Withholding