Form 4: CFO LeBlanc Receives LMAT Equity Awards

Lemaitre Vascular's CFO, Dorian Paul LeBlanc, was granted 1,177 restricted stock units and 7,222 stock options as part of an equity compensation plan.

Summary

• Dorian Paul LeBlanc, Chief Financial Officer of Lemaitre Vascular Inc. (LMAT), received equity awards on December 10, 2025.
• The awards include 1,177 restricted stock units (RSUs) at a price of $0, which will vest 25% on December 1, 2026, with the remainder vesting in equal annual installments over the subsequent three years.
• The RSU award includes a provision for the withholding of shares by the Issuer to cover withholding taxes upon each vesting date.
• Additionally, 7,222 stock options were granted with an exercise price of $83.66, exercisable from December 1, 2025, and expiring on December 10, 2032.
• These stock options vest over a four-year period, with 25% vesting on the first anniversary of the grant date (December 10, 2025) and the balance vesting in equal annual installments over the remaining three years.
• Following these transactions, Mr. LeBlanc beneficially owns 2,398 shares of common stock and 7,222 stock options directly.
• The transaction was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged trading plan.

Sentiment

Score: 7

Explanation: The filing indicates routine executive compensation, aligning management's interests with shareholders. It's a positive signal for executive retention and motivation, but does not reflect new operational or financial performance.

Positives

• The grant of equity awards aligns the Chief Financial Officer's interests with long-term shareholder value.
• The awards are part of a structured compensation plan, indicating ongoing commitment to executive incentives and retention.
• The use of a Rule 10b5-1 plan suggests a pre-planned and transparent approach to insider transactions, enhancing corporate governance.

Negatives

• No immediate cash inflow for the CFO from these specific grants, as they are vesting awards.
• The stock options have an exercise price of $83.66, meaning the stock price must exceed this for the options to be 'in the money' and provide intrinsic value.

Future Outlook

This filing does not contain forward-looking statements or guidance beyond the vesting schedules of the equity awards.

Industry Context

This Form 4 filing is a routine disclosure of insider equity compensation. It reflects standard practices for executive incentive alignment within the medical device or healthcare industry, where equity grants are common to retain and motivate key personnel. It does not provide broader industry trends or specific market insights.

Comparison to Industry Standards

• Equity compensation, including RSUs and stock options, is a standard practice for executive remuneration across various industries, including medical devices.
• The vesting schedules (four years, 25% annually) are typical for long-term incentive plans designed to promote retention and align executive interests with shareholder value over several years.
• The use of a Rule 10b5-1 plan is a common corporate governance practice for insiders to manage their stock transactions in compliance with insider trading laws.

Corporate Governance

Related Party Transactions

• The equity awards granted to Chief Financial Officer Dorian Paul LeBlanc constitute a related party transaction, representing executive compensation.

Stakeholder Impact

• Shareholders: The equity grants align the CFO's long-term interests with shareholder value, potentially leading to more focused management decisions aimed at increasing stock price.
• Employees: May signal a stable and structured executive compensation framework within the company.
• Management: Provides long-term incentives and compensation for the Chief Financial Officer, aiding in retention and motivation.

Next Steps

• The restricted stock units will begin vesting on December 1, 2026, with subsequent annual installments over the following three years.
• The stock options will begin vesting on December 10, 2026 (first anniversary of grant), with subsequent annual installments over the following three years.

Key Dates

Recommendation

This Form 4 filing details routine equity compensation for a key executive. While it aligns management's interests with shareholders, it does not provide new information regarding the company's operational performance, financial health, or strategic direction that would warrant a change in investment recommendation. It's a standard disclosure that typically has minimal direct impact on short-term stock price movements, hence a 'hold' recommendation is appropriate as it doesn't alter the fundamental investment thesis.

Keywords

Lemaitre Vascular, LMAT, Dorian Paul LeBlanc, Chief Financial Officer, CFO, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU, Stock Options, Equity Compensation, Vesting, Rule 10b5-1