Haemonetics Corp. DEF 14A: Executive Pay & Governance

Ticker: HAE · Form: DEF 14A · Filed: Jun 7, 2024 · CIK: 313143

Haemonetics Corp DEF 14A Filing Summary
FieldDetail
CompanyHaemonetics Corp (HAE)
Form TypeDEF 14A
Filed DateJun 7, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, executive-compensation, corporate-governance

Related Tickers: HAE

TL;DR

Haemonetics DEF 14A out: exec pay details, pension adjustments, equity awards for FY ending Mar 30, 2024.

AI Summary

Haemonetics Corp. filed its DEF 14A on June 7, 2024, detailing executive compensation and corporate governance matters for the fiscal year ending March 30, 2024. The filing includes information on compensation for named executive officers and details related to pension adjustments and equity awards. Key financial periods covered include fiscal years ending March 30, 2024, April 1, 2023, April 2, 2022, and April 3, 2021.

Why It Matters

This filing provides shareholders with crucial information regarding how executive compensation is structured and approved, impacting company performance and shareholder value.

Risk Assessment

Risk Level: medium — DEF 14A filings can reveal information about executive compensation and corporate governance that may influence investor sentiment and stock price.

Key Players & Entities

  • Haemonetics Corp. (company) — Filer of the DEF 14A
  • 0000313143-24-000040.txt (document) — Accession number for the filing
  • March 30, 2024 (date) — End of the reported fiscal year
  • June 7, 2024 (date) — Filing date of the DEF 14A

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used to solicit shareholder votes on important corporate matters, including the election of directors and executive compensation.

What fiscal year does this DEF 14A filing primarily cover?

This DEF 14A filing primarily covers the fiscal year ending on March 30, 2024.

What specific financial data points are highlighted in the provided text snippet?

The provided text snippet highlights various fiscal year end dates (March 30, 2024; April 1, 2023; April 2, 2022; April 3, 2021) and mentions elements like 'ChangeInPensionValueMember', 'PensionAdjustmentsServiceCostMember', and 'EqtyAwrdsAdjsMember'.

What is Haemonetics Corp.'s Standard Industrial Classification (SIC) code?

Haemonetics Corp.'s SIC code is 3841, which corresponds to 'Surgical & Medical Instruments & Apparatus'.

Where is Haemonetics Corp. headquartered?

Haemonetics Corp. is headquartered at 125 Summer Street, Boston, MA 02110.

Filing Stats: 4,391 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2024-06-07 06:26:36

Filing Documents

—Election of Directors

Item 1—Election of Directors 9 Haemonetics Board of Directors 9 Board's Role and Responsibilities 13 Board Leadership Structure 14 Board Policies and Processes 16 Directors' Compensation 17

—Advisory Vote on Executive Compensation

Item 2—Advisory Vote on Executive Compensation 19 Executive Officers 20 Compensation Discussion and Analysis 22 Compensation Committee Report 37

Executive Compensation Tables

Executive Compensation Tables 38 CEO Pay Ratio 44 Pay Versus Performance 45 Timing of Equity Awards 48 Hedging Policy 48

—Ratification of Independent Registered Public Accounting Firm

Item 3—Ratification of Independent Registered Public Accounting Firm 49 Audit Fees and Services 50 Audit Committee Report 50 Share Ownership Information 52 Equity Compensation Plans 52

Security Ownership of Certain Beneficial Owners, Directors and Management

Security Ownership of Certain Beneficial Owners, Directors and Management 53 Delinquent Section 16(a) Reports 54 General Information About the Meeting and Voting 55 Additional Information 58 Solicitation of Proxies 58 Shareholder Proposals for Next Year's Annual Meeting 58 Other Matters 58 Incorporation by Reference 58 Financial Matters and Form 10-K 58 Delivery of Documents to Shareholders Sharing an Address 59 Appendix A—Non-GAAP Financial Reconciliations 60 2 HAEMONETICS CORPORATION | 2024 Proxy Statement PROXY STATEMENT SUMMARY This summary highlights selected information in this proxy statement (this "Proxy Statement"), which is being furnished in connection with the solicitation of proxies by Haemonetics Corporation for use at the 2024 Annual Meeting of Shareholders. Please review this entire Proxy Statement before voting. References in this Proxy Statement to "Haemonetics," the "Company," "we," "us" or "our" refer to Haemonetics Corporation. Voting Roadmap 2024 ANNUAL MEETING OF SHAREHOLDERS Date and Time: Thursday, July 25, 2024 at 8:00 A.M., Eastern Time Place: Haemonetics Corporation 125 Summer Street Boston, MA 02110 Commence Mail Date: On or about June 10, 2024 Record Date: May 22, 2024 MEETING AGENDA AND VOTING RECOMMENDATIONS Voting Items Board Recommendation For Further Information 1 Election of nine director nominees named in this Proxy Statement for one-year terms expiring at the 2025 Annual Meeting of Shareholders FOR each director nominee Page 9 2 Approval, on an advisory basis, of our named executive officers' compensation FOR Page 19 3 Ratification of our independent registered public accounting firm for fiscal 2025 FOR Page 49 HOW TO VOTE ONLINE BY PHONE BY MAIL IN PERSON Go to www.envisionreports.com/HAE and enter the 15-digit control number provided on your proxy card or voting instruction form. If you received a paper copy of your proxy materials by mail, call the

—ELECTION OF DIRECTORS

ITEM 1—ELECTION OF DIRECTORS Our Board currently has nine members, each of whom is standing for election at our 2024 Annual Meeting of Shareholders (see "Director Nominees" beginning on page 10 ). If elected, each director will serve for a one-year term expiring at our 2025 Annual Meeting of Shareholders or until his or her successor is duly elected and qualified or until his or her earlier death, resignation or removal. Each nominee has agreed to be named in this Proxy Statement and to serve if elected. We believe that each nominee will be able and willing to serve if elected. However, if any nominee should become unable for any reason or unwilling to serve, proxies may be voted for another person nominated as a substitute by our Board, or our Board may reduce the number of directors. Our Board unanimously recommends that you vote FOR each of the nominees for director named in this Proxy Statement. Directors are elected by a plurality of the votes cast by shareholders entitled to vote at the meeting. Abstentions and broker non-votes will not have any effect on this proposal. Accordingly, the nominees receiving the highest number of "for" votes at the meeting will be elected as directors. However, under a policy adopted by the Board, in an uncontested election, any nominee for director who does not receive the favorable vote of at least a majority of the votes cast with respect to such director is required to tender his or her resignation to the Board, which will consider whether to accept the resignation. This is an uncontested election of directors because the number of nominees for director does not exceed the number of directors to be elected. The persons named in the accompanying proxy will vote all duly submitted proxies FOR the nominees listed below (see "Director Nominees" beginning on page 10 ) unless instructed otherwise. Haemonetics Board of Directors BOARD COMPOSITION AND THE DIRECTOR NOMINATION PROCESS The Governance and Compliance Committee is

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