Form 4: Director Martha Shadan Receives LMAT Equity Awards

Lemaitre Vascular Director Martha Shadan was granted 533 restricted stock units and 3,431 stock options on December 10, 2025.

Summary

• Martha Shadan, a Director at Lemaitre Vascular Inc. (LMAT), received equity awards on December 10, 2025.
• She was granted 533 shares of Common Stock as a restricted stock unit (RSU) award.
• The RSU award vests 33 1/3% on December 1, 2026, with the remaining balance vesting in equal annual installments over the subsequent two years.
• Additionally, she received 3,431 stock options with an exercise price of $83.66.
• These stock options are exercisable and vest over a three-year period, with 33 1/3% vesting on the first anniversary of December 1, 2025, and the remainder vesting in equal annual installments over the subsequent two years.
• The stock options have an expiration date of December 10, 2030.
• Following these transactions, Martha Shadan beneficially owns 2,475 shares of Common Stock and 3,431 derivative securities (stock options).

Sentiment

Score: 6

Explanation: The filing reports a routine equity compensation grant to a director, which is a neutral event but slightly positive as it aligns director incentives with long-term company performance.

Positives

• The awards align the director's interests with long-term shareholder value through time-based vesting schedules.
• The grant of stock options provides an incentive for the director to contribute to the company's stock price appreciation.

Negatives

• No specific negatives are identified in this routine compensation filing.

Risks

• No specific risks are mentioned in this Form 4 filing.

Future Outlook

The vesting schedules for both the restricted stock units and stock options extend into future years, indicating a long-term incentive structure for the director.

Management Comments

• No notable quotes or paraphrased statements from company management are included in this Form 4 filing.

Industry Context

This filing represents a routine equity compensation grant to a director, a common practice across industries to align executive and director incentives with shareholder interests. Such grants are standard in the medical device sector, where long-term strategic vision and performance are critical.

Comparison to Industry Standards

• Equity grants to directors, including restricted stock units and stock options, are a standard component of compensation packages across publicly traded companies, including those in the medical device industry.
• The vesting schedules, typically over several years, are consistent with industry best practices aimed at retaining talent and aligning long-term interests, similar to practices seen at companies like Medtronic or Boston Scientific.
• The specific number of units and options granted would typically be benchmarked against peer companies of similar size and market capitalization within the medical technology sector to ensure competitive compensation.

Related Party Transactions

• The acquisition of restricted stock units and stock options by Martha Shadan, a Director of Lemaitre Vascular Inc., constitutes a related party transaction as it involves compensation from the company to an insider.

Stakeholder Impact

• Shareholders: The equity awards align the director's interests with shareholder value creation over the long term. Dilution from future option exercises or RSU vesting is a minor consideration given the size of the grant.
• Employees: No direct impact on employees is indicated by this filing.
• Management: The compensation structure for directors can influence the overall governance and strategic direction, indirectly impacting management.

Next Steps

• Vesting of 33 1/3% of the restricted stock unit award on December 1, 2026, with the balance vesting in equal annual installments over the subsequent two years.
• Vesting of 33 1/3% of the stock options on the first anniversary of December 1, 2025, with the balance vesting in equal annual installments over the subsequent two years.
• Potential exercise of stock options by December 10, 2030.

Key Dates

Recommendation

This Form 4 filing details a routine equity compensation grant to a director, which is a standard practice for aligning insider interests with long-term company performance. It does not contain information that would fundamentally alter the investment thesis for Lemaitre Vascular Inc. and therefore does not warrant a change from a 'hold' position based solely on this filing.

Keywords

Lemaitre Vascular, LMAT, Martha Shadan, Form 4, SEC filing, insider transaction, restricted stock units, stock options, equity compensation, director compensation