Form 4: Zimmer Biomet Director Michelson Reports Acquisition of Phantom Stock Units

Director Michael W. Michelson reported the acquisition of phantom stock units in Zimmer Biomet Holdings, Inc. under the company's deferred compensation plan.

Summary

• Michael W. Michelson, a director of Zimmer Biomet Holdings, Inc., reported the acquisition of 207.156 phantom stock units on March 31, 2024.
• These units were accrued under the Zimmer Biomet Holdings, Inc. Deferred Compensation Plan for Non-Employee Directors.
• The conversion price is 1-for-1, and the units will be settled in cash within sixty days after Michelson's service as a director ends.
• The price of the phantom stock units was $132.75.
• Following the transaction, Michelson beneficially owns 12,215.898 phantom stock units, which includes 22.447 units accrued on January 31, 2024, under the dividend reinvestment provision of the plan.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reflects a standard transaction related to director compensation. There are no explicit positive or negative implications for the company's performance.

Positives

• The acquisition of phantom stock units by a director may signal confidence in the company's future performance.

Future Outlook

The phantom stock units will be settled in cash within sixty days after Michelson's service as a director ends.

Industry Context

This filing is a routine disclosure related to executive compensation and is typical for publicly traded companies like Zimmer Biomet.

Comparison to Industry Standards

• Deferred compensation plans are a common practice among large, publicly traded companies like Zimmer Biomet to attract and retain key personnel.
• Companies such as Johnson & Johnson and Medtronic also utilize similar deferred compensation plans for their non-employee directors.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it primarily concerns director compensation.

Key Dates