Merit Medical Systems Inc. Files Definitive Proxy Statement (DEF 14A)

Ticker: MMSI · Form: DEF 14A · Filed: Apr 2, 2024 · CIK: 856982

Merit Medical Systems Inc DEF 14A Filing Summary
FieldDetail
CompanyMerit Medical Systems Inc (MMSI)
Form TypeDEF 14A
Filed DateApr 2, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$1.257 billion, $145 million, $2.6 billion, $1.8 billion
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Merit Medical Systems, Executive Compensation, Equity Awards, Proxy Statement

TL;DR

<b>Merit Medical Systems Inc. filed its DEF 14A proxy statement on April 2, 2024, detailing executive compensation and equity awards for fiscal years 2021-2023.</b>

AI Summary

MERIT MEDICAL SYSTEMS INC (MMSI) filed a Proxy Statement (DEF 14A) with the SEC on April 2, 2024. Merit Medical Systems Inc. filed a DEF 14A form on April 2, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 1600 West Merit Parkway, South Jordan, UT 84095. The filing includes data related to executive compensation, specifically equity awards for PEO and Non-PEO members for the years 2021, 2022, and 2023. Details on equity awards include values in compensation tables, year-end fair value of awards granted, changes in fair value of outstanding awards, and adjustments for awards that failed to meet performance conditions.

Why It Matters

For investors and stakeholders tracking MERIT MEDICAL SYSTEMS INC, this filing contains several important signals. This filing provides shareholders with crucial information regarding executive compensation practices and the valuation of equity awards, enabling informed voting decisions at the upcoming shareholder meeting. The detailed breakdown of equity awards, including adjustments and performance conditions, offers transparency into how executive pay is structured and how it aligns with company performance.

Risk Assessment

Risk Level: low — MERIT MEDICAL SYSTEMS INC shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not indicate any unusual financial or operational events.

Analyst Insight

Review the executive compensation details and equity award structures to understand potential impacts on shareholder value and executive incentives.

Key Numbers

  • 2024-04-02 — Filing Date (DEF 14A filing date)
  • 2023-12-31 — Fiscal Year End (Reported fiscal year end)
  • 2023-01-01 — Reporting Period Start (Start date for reported fiscal year)
  • 2022-01-01 — Prior Year Reporting Period Start (Start date for prior year reporting)
  • 2021-01-01 — Earlier Year Reporting Period Start (Start date for earlier year reporting)

Key Players & Entities

  • MERIT MEDICAL SYSTEMS INC (company) — Filer name
  • 0000856982 (company) — Central Index Key
  • UT (location) — State of Incorporation and Business Address
  • 870447695 (company) — IRS Number
  • 000-18592 (company) — SEC File Number
  • 24813057 (company) — Film Number
  • 1600 WEST MERIT PARKWAY (location) — Business and Mail Address
  • 84095 (location) — Business and Mail ZIP Code

FAQ

When did MERIT MEDICAL SYSTEMS INC file this DEF 14A?

MERIT MEDICAL SYSTEMS INC filed this Proxy Statement (DEF 14A) with the SEC on April 2, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by MERIT MEDICAL SYSTEMS INC (MMSI).

Where can I read the original DEF 14A filing from MERIT MEDICAL SYSTEMS INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by MERIT MEDICAL SYSTEMS INC.

What are the key takeaways from MERIT MEDICAL SYSTEMS INC's DEF 14A?

MERIT MEDICAL SYSTEMS INC filed this DEF 14A on April 2, 2024. Key takeaways: Merit Medical Systems Inc. filed a DEF 14A form on April 2, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal executive offices are located at 1600 West Merit Parkway, South Jordan, UT 84095..

Is MERIT MEDICAL SYSTEMS INC a risky investment based on this filing?

Based on this DEF 14A, MERIT MEDICAL SYSTEMS INC presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not indicate any unusual financial or operational events.

What should investors do after reading MERIT MEDICAL SYSTEMS INC's DEF 14A?

Review the executive compensation details and equity award structures to understand potential impacts on shareholder value and executive incentives. The overall sentiment from this filing is neutral.

How does MERIT MEDICAL SYSTEMS INC compare to its industry peers?

Merit Medical Systems Inc. operates in the surgical and medical instruments and apparatus industry.

Are there regulatory concerns for MERIT MEDICAL SYSTEMS INC?

The filing is a DEF 14A, a type of proxy statement required by the Securities Exchange Act of 1934 for public companies.

Industry Context

Merit Medical Systems Inc. operates in the surgical and medical instruments and apparatus industry.

Regulatory Implications

The filing is a DEF 14A, a type of proxy statement required by the Securities Exchange Act of 1934 for public companies.

What Investors Should Do

  1. Analyze the executive compensation structure and equity award details provided in the filing.
  2. Review the dates and periods covered by the compensation data to understand trends.
  3. Note the company's location and standard industrial classification for industry context.

Key Dates

  • 2024-04-02: DEF 14A Filing — Definitive Proxy Statement filed with the SEC.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure for public companies and does not represent a change from previous filings in terms of its nature.

Filing Stats: 4,466 words · 18 min read · ~15 pages · Grade level 13.3 · Accepted 2024-04-02 12:56:44

Key Financial Figures

  • $1.257 billion — Operating Cash Flow 5-Year TSR (1) $1.257 billion $145 million 36% (1) Reflects fiv
  • $145 million — low 5-Year TSR (1) $1.257 billion $145 million 36% (1) Reflects five-year cumulati
  • $2.6 billion — Branding and Transportation business, a $2.6 billion revenue division of 3M Company, a multi
  • $1.8 billion — Division of 3M Company, an approximate $1.8 billion division, 2020 to 2023 Interim Presid

Filing Documents

Executive Compensation and Related Matters

Executive Compensation and Related Matters 33 Executive Summary 38 Compensation Discussion and Analysis 57 Proposal 2 – Advisory Vote on Executive Compensation 58

Executive Compensation Tables

Executive Compensation Tables 58 Summary Compensation Table 59 Grants of Plan-Based Awards 61 Outstanding Equity Awards at Year End 62 Option Exercises and Stock Awards Vested 62 Non-Qualified Deferred Compensation 63 Potential Payments Upon Termination or Change in Control 73 CEO Pay Ratio 74 Proposal 3 – Approval of an amendment to increase the number of shares authorized for issuance under the Merit Medical Systems, Inc. 2018 Long-Term Incentive Plan 80 Audit Matters 80 Audit Committee Report 81 Proposal 4 – Ratification of Appointment of Independent Registered Public Accounting Firm 82 Stock Ownership and Trading 82 Principal Holders of Voting Securities 84 Other Proxy Information 84 Information About the Annual Meeting and Voting 89 Other Matters 89 Shareholder Proposals for Annual Meeting 2025 90 Non-GAAP Financial Measures Table of Contents NOTICE OF 2024 ANNUAL MEETING OF SHAREHOLDERS Date and Time Access Record Date May 15, 2024 2:00 p.m. Mountain Time Webcast www.virtualshareholdermeeting.com /MMSI2024 March 18, 2024 Only shareholders of record on the Record Date may vote Items of Business Proposals Board's Recommendation More Information 1 Elect three directors, each to serve until 2027 FOR each nominee Page 5 2 Non-binding, advisory vote to approve named executive officer compensation ("Say on Pay") FOR Page 57 3 Approve amendment to increase the number of shares authorized for issuance under the Merit Medical Systems, Inc. 2018 Long-Term Incentive Plan FOR Page 74 4 Ratify appointment of Deloitte & Touche LLP as our independent registered public accounting firm FOR Page 81 Your Vote is important to our future. We strongly encourage you to read the Proxy Statement and then promptly vote your shares as instructed herein. Shareholders can vote via the Internet, by telephone or by mail. Specific instructions on how to vote are included in the N

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