Form 4: Director Shadan Reports LMAT Stock Acquisition
Insider Transaction Report
LeMaitre Vascular Director Martha Shadan reported the acquisition of common stock and dividend equivalent rights through vesting of equity awards.
Summary
- Martha Shadan, a Director at LeMaitre Vascular Inc (LMAT), reported changes in her beneficial ownership of company securities.
- On December 6, 2025, Shadan acquired 1 share of Common Stock directly, resulting in a total direct beneficial ownership of 1,937 shares.
- This acquisition was a result of the release of dividend equivalent rights (DERs) on a one-for-one basis, specifically linked to the vesting of a restricted stock unit (RSU) award granted on December 6, 2024.
- On December 4, 2025, Shadan acquired additional Dividend Equivalent Rights totaling 3.2443 units, which accrued on various restricted stock unit and performance share unit awards granted between December 2022 and December 2024.
- Following these transactions, Shadan beneficially owns a total of 2.8963 Dividend Equivalent Rights directly, after the release of 1 DER on December 6, 2025.
Sentiment
Score: 7
Explanation: The filing indicates a routine insider transaction involving the vesting of equity awards, which is a positive sign of continued alignment between management and shareholder interests, but it does not present new fundamental information to significantly alter the company's outlook.
Positives
- Increased direct beneficial ownership of Common Stock by a company director, aligning insider interests with shareholders.
- The acquisition of shares stems from the vesting of equity awards, indicating the fulfillment of performance or time-based conditions.
Future Outlook
The filing does not contain specific forward-looking statements or guidance beyond the nature of the equity awards vesting proportionately.
Industry Context
This filing is a routine insider transaction report and does not provide broader industry context or trends. It reflects standard executive compensation practices within publicly traded companies.
Corporate Governance
| Change Type | Description | Effective Date | Impact Assessment |
|---|---|---|---|
| Procedural Update | Martha Shadan executed a Limited Power of Attorney, appointing Laurie Churchill, John Pitfield, Bernard Stanford, and Secil Kantarci ONeil as attorneys-in-fact to execute and file SEC forms (including Forms 3, 4, 5, 13D, 13G) on her behalf. This streamlines compliance with Section 16 and Regulation 13D-G of the Securities Exchange Act of 1934. | 12/2/2025 | Enhances administrative efficiency for SEC compliance for the reporting person, ensuring timely and accurate filings. |
Stakeholder Impact
- Shareholders: The increase in direct ownership by a director can be viewed positively as it indicates continued alignment of interests with the company's performance.
- Employees: The vesting of equity awards is a standard compensation practice, reinforcing the company's incentive structure for its leadership.
Key Dates
| Date | Description |
|---|---|
| 12/12/2022 | Grant date for a Restricted Stock Unit (RSU) award and a Performance Share Unit (PSU) award, on which dividend equivalent rights accrued. |
| 12/8/2023 | Grant date for a Restricted Stock Unit (RSU) award and a Performance Share Unit (PSU) award, on which dividend equivalent rights accrued. |
| 12/6/2024 | Grant date for a Restricted Stock Unit (RSU) award, on which dividend equivalent rights accrued and subsequently vested. |
| 12/2/2025 | Date of execution of the Limited Power of Attorney by Martha Shadan. |
| 12/04/2025 | Transaction date for the acquisition of several Dividend Equivalent Rights. |
| 12/06/2025 | Transaction date for the acquisition of 1 share of Common Stock and the release of 1 Dividend Equivalent Right. |
| 12/08/2025 | Signature date of the Reporting Person for the Form 4 filing. |
Recommendation
holdThe filing details a routine insider transaction involving the vesting of equity awards and the acquisition of common stock by a director. This is a standard compensation event and does not provide new fundamental information to alter an investment thesis. It indicates continued alignment of interests but is not a catalyst for a change in recommendation.
Keywords
LeMaitre Vascular, LMAT, Martha Shadan, Insider Transaction, Form 4, Stock Acquisition, Dividend Equivalent Rights, Equity Awards, Director Ownership, Restricted Stock Units, Performance Share Units
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