Form 4: Varex Imaging Executive Acquires 1,613 Shares Through Performance Stock Unit Vesting

Andrew Hartmann, SVP and GM of Detectors at Varex Imaging Corp, acquired 1,613 shares of common stock through the vesting of performance stock units.

Summary

• Andrew Hartmann, a Senior Vice President and General Manager at Varex Imaging Corp, has acquired 1,613 shares of the company's common stock.
• The shares were obtained through the vesting of performance stock units (PSUs).
• These PSUs were granted on December 10, 2023, and their vesting was contingent upon the achievement of certain performance criteria.
• The reported 1,613 shares represent the number of PSUs earned due to the successful achievement of these performance goals.
• The final vesting of these PSUs is subject to the Compensation Committee's approval after the completion of Fiscal Year 2026 and the reporting person's continued employment through the vesting date.

Sentiment

Score: 7

Explanation: The document indicates that performance goals were met, which is a positive sign. The acquisition of shares by a senior executive also suggests confidence in the company. However, the final vesting is still subject to future conditions.

Positives

• The vesting of performance stock units indicates that performance goals were met, which is a positive sign for the company.
• The acquisition of shares by a senior executive demonstrates confidence in the company's future performance.

Risks

• The final vesting of the PSUs is contingent on the executive's continued employment through the vesting date, which introduces a risk of forfeiture if employment is terminated before then.
• The final number of PSUs earned is subject to the Compensation Committee's approval after the completion of Fiscal Year 2026, which introduces a degree of uncertainty.

Future Outlook

The final vesting of the PSUs is subject to the Compensation Committee's approval after the completion of Fiscal Year 2026 and the reporting person's continued employment through the vesting date.

Industry Context

This type of stock-based compensation is common in the technology industry to align executive interests with company performance and shareholder value.

Comparison to Industry Standards

• Many technology companies use performance-based stock units as part of their executive compensation packages.
• The vesting criteria are typically tied to financial or operational metrics, similar to the performance criteria mentioned in this document.
• Companies like GE Healthcare, Siemens Healthineers, and Philips also use similar compensation structures to incentivize their executives.

Stakeholder Impact

• Shareholders may view this as a positive sign, as it indicates that performance goals were met.
• Employees may be motivated by the fact that performance is being rewarded.
• The vesting of shares does not have a direct impact on customers, suppliers, or creditors.

Next Steps

• The Compensation Committee will certify and approve the total number of PSUs that were earned after the completion of Fiscal Year 2026.
• The PSUs will vest subject to the Reporting Person being employed through the vesting date.

Key Dates

Keywords

Varex Imaging, Performance Stock Units, PSU, Stock Acquisition, Executive Compensation, Andrew Hartmann, Vesting