Form 4: Haemonetics VP, Chief Accounting Officer, Receives Significant Restricted Stock Unit Grant

Haemonetics Corporation's VP and Chief Accounting Officer, Maryanne Maunsell Farris, was granted 2,662 restricted stock units as part of the company's long-term incentive plan.

Summary

• Maryanne Maunsell Farris, VP, Chief Accounting Officer of Haemonetics Corp (HAE), acquired 2,662 shares of common stock in the form of Restricted Stock Units (RSUs) on June 5, 2025.
• The RSUs were issued under the Haemonetics Corporation Amended and Restated 2019 Long-Term Incentive Compensation Plan.
• Each RSU represents a contingent right to receive one share of the Issuer's common stock upon vesting.
• Two-thirds (2/3) of the RSUs will vest in two equal annual installments, commencing on the first anniversary of the grant date.
• The remaining one-third (1/3) of the RSUs will vest based on the Issuer's common stock price performance at the end of a two-year period.
• Following this transaction, Ms. Farris beneficially owns 4,478 shares, which includes previously reported unvested RSUs.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as the RSU grant is a standard, positive incentive for a key executive, aligning their interests with the company's performance and shareholder value. It reflects ongoing executive compensation practices rather than a significant new event.

Positives

• The RSU grant aligns the interests of a key executive, the VP and Chief Accounting Officer, with those of shareholders through equity ownership.
• The performance-based vesting component for one-third of the RSUs incentivizes the executive to contribute to the company's stock price appreciation.
• The multi-year vesting schedule for two-thirds of the RSUs serves as a retention mechanism for a senior management member.

Future Outlook

The future outlook for the reporting person's equity holdings includes the vesting of the granted RSUs, with two-thirds vesting annually over two years and one-third vesting based on the company's stock price performance over a two-year period.

Management Comments

• The document reports a transaction by a member of the company's management, Maryanne Maunsell Farris, VP, Chief Accounting Officer, rather than containing direct comments from management.

Industry Context

This Form 4 filing details a routine executive compensation event, specifically an RSU grant, which is a common practice across various industries to incentivize and retain key personnel. It does not provide broader industry trends or competitive analysis.

Comparison to Industry Standards

• The grant of Restricted Stock Units (RSUs) as part of a long-term incentive plan is a standard compensation practice for senior executives across publicly traded companies, including those in the medical technology and healthcare sectors like Haemonetics.
• The combination of time-based and performance-based vesting components is also a common structure designed to balance retention with performance alignment, consistent with best practices observed in companies such as Medtronic (MDT) or Baxter International (BAX) in their executive compensation programs.

Related Party Transactions

• The acquisition of 2,662 Restricted Stock Units by Maryanne Maunsell Farris, a VP and Chief Accounting Officer of Haemonetics Corp, constitutes a related party transaction as it involves compensation from the company to a key executive.

Stakeholder Impact

• Shareholders: The RSU grant aims to align the interests of a key executive with shareholders, potentially leading to better long-term performance and value creation.
• Employees: This transaction is specific to a senior executive and does not directly impact the broader employee base, though it reflects the company's executive compensation philosophy.
• Management: The grant provides significant long-term incentive compensation and serves as a retention tool for the VP, Chief Accounting Officer.

Next Steps

• The RSUs will begin to vest in annual installments starting on the first anniversary of the grant date (June 5, 2025).
• The performance-based portion of the RSUs will be assessed at the end of a two-year period based on the Issuer's common stock price.

Key Dates

Keywords

Haemonetics Corp, HAE, Restricted Stock Units, RSU grant, insider transaction, executive compensation, SEC Form 4, equity incentive plan, corporate governance