Orasure Technologies Inc. Files Definitive Proxy Statement

TL;DR

<b>Orasure Technologies Inc. has filed its Definitive Proxy Statement for the period ending May 14, 2024.</b>

AI Summary

ORASURE TECHNOLOGIES INC (OSUR) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. Orasure Technologies Inc. filed a Definitive Proxy Statement (DEF 14A) on April 3, 2024. The filing covers the period ending May 14, 2024. The company's fiscal year ends on December 31. Orasure Technologies Inc. is incorporated in Delaware. The company's principal executive offices are located at 220 E First St, Bethlehem, PA 18015.

Why It Matters

For investors and stakeholders tracking ORASURE TECHNOLOGIES INC, this filing contains several important signals. This filing is a routine requirement for publicly traded companies to provide shareholders with information regarding annual meetings, director elections, and executive compensation. Shareholders will be able to review details about the company's governance, board nominations, and compensation practices before making voting decisions.

Risk Assessment

Risk Level: low — ORASURE TECHNOLOGIES INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance disclosures rather than immediate financial or operational news.

Analyst Insight

Review the proxy statement for details on executive compensation, board nominations, and any shareholder proposals to inform voting decisions.

Key Numbers

• 2024-04-03 — Filing Date (DEF 14A filing date)
• 2024-05-14 — Period of Report (DEF 14A period of report)
• 1231 — Fiscal Year End (Company fiscal year end)

Key Players & Entities

• ORASURE TECHNOLOGIES INC (company) — Filer name
• DEF 14A (document) — Filing type
• 2024-04-03 (date) — Filing date
• 2024-05-14 (date) — Period of report
• 220 E First St, Bethlehem, PA 18015 (address) — Business address

FAQ

Industry Context

Orasure Technologies Inc. operates in the Surgical & Medical Instruments & Apparatus industry (SIC 3841).

Regulatory Implications

The filing is a DEF 14A, which is a standard SEC filing required for public companies to solicit proxies from shareholders.

What Investors Should Do

1. Review the full DEF 14A filing for detailed information on director nominees and executive compensation.
2. Analyze any shareholder proposals and management's recommendations.
3. Note the dates for the upcoming shareholder meeting and proxy voting deadlines.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a routine disclosure and does not represent a change from previous filings of the same type.

Key Financial Figures

• $405 m — nclude: We reported record revenue of $405 million, representing 5% growth compared
• $257 million — on our Covid-19 contracts and generated $257 million of revenue from our Covid-19 products.
• $15 million — mprovement. We exceeded our target of $15 million of annualized cost savings. We genera
• $33 million — rated operating income of approximately $33 million compared to an operating loss of approx
• $22 million — d to an operating loss of approximately $22 million in 2022. We reported net income of ap
• $54 million — We reported net income of approximately $54 million compared to a net loss of approximately
• $17 million — compared to a net loss of approximately $17 million in 2022. We completed the milestones
• $142 million — ure at our new facility. We generated $142 million of Cash Flow from Operations and increa
• $290 m — vestments balance at the end of 2023 to $290 million, which is an increase of $180 mil
• $180 million — o $290 million, which is an increase of $180 million compared to the end of 2022. With our

Filing Documents

• osur-20240403.htm (DEF 14A) — 1621KB
• osur-20240403_g1.jpg (GRAPHIC) — 582KB
• osur-20240403_g10.jpg (GRAPHIC) — 48KB
• osur-20240403_g11.jpg (GRAPHIC) — 44KB
• osur-20240403_g12.jpg (GRAPHIC) — 54KB
• osur-20240403_g13.jpg (GRAPHIC) — 131KB
• osur-20240403_g14.jpg (GRAPHIC) — 113KB
• osur-20240403_g15.jpg (GRAPHIC) — 106KB
• osur-20240403_g16.jpg (GRAPHIC) — 598KB
• osur-20240403_g17.jpg (GRAPHIC) — 38KB
• osur-20240403_g18.jpg (GRAPHIC) — 38KB
• osur-20240403_g19.jpg (GRAPHIC) — 19KB
• osur-20240403_g2.jpg (GRAPHIC) — 9KB
• osur-20240403_g20.jpg (GRAPHIC) — 1233KB
• osur-20240403_g21.jpg (GRAPHIC) — 76KB
• osur-20240403_g22.jpg (GRAPHIC) — 82KB
• osur-20240403_g3.jpg (GRAPHIC) — 37KB
• osur-20240403_g4.jpg (GRAPHIC) — 39KB
• osur-20240403_g5.jpg (GRAPHIC) — 28KB
• osur-20240403_g6.jpg (GRAPHIC) — 20KB
• osur-20240403_g7.jpg (GRAPHIC) — 42KB
• osur-20240403_g8.jpg (GRAPHIC) — 37KB
• osur-20240403_g9.jpg (GRAPHIC) — 45KB
• 0001116463-24-000022.txt (&nbsp;) — 10909KB
• osur-20240403.xsd (EX-101.SCH) — 5KB
• osur-20240403_def.xml (EX-101.DEF) — 7KB
• osur-20240403_lab.xml (EX-101.LAB) — 14KB
• osur-20240403_pre.xml (EX-101.PRE) — 6KB
• osur-20240403_htm.xml (XML) — 175KB

From the Filing

osur-20240403 Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant x Filed by a Party other than the Registrant o Check the appropriate box: o Preliminary Proxy Statement o Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) x Definitive Proxy Statement o Definitive Additional Materials o Soliciting Material under 240.14a-12 OraSure Technologies, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): x No fee required. o Fee paid previously with preliminary materials o Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 Table of Contents Proxy Statement Notice of Annual Meeting of Stockholders 2024 Tuesday, May 14, 2024 10:00 a.m. (Eastern Time) Table of Contents Letter to the Stockholders Carrie Eglinton Manner Chief Executive Officer ("CEO") April 3, 2024 Dear Fellow Stockholders: At OTI, our a vision is to transform health through actionable insights, powering the shift that connects people to healthcare wherever they are. We believe our mission of improving access, quality, and value of healthcare with innovation in effortless tests, sample management solutions, and services is aligned with where healthcare is headed, and we are proud to be part of this evolution that empowers people to manage their health. This year, we have made fantastic progress on our three-part transformation journey to strengthen our foundation, elevate our core growth, and accelerate profitable growth. In 2023, we had a record year for revenue, driven by our InteliSwab COVID-19 test, and we generated significant positive operating cash flow, fueled by our enterprise-wide focus on innovating and operating with disciplined execution. In 2024, we will maintain our focus on achieving our target of break-even in cash flow from operations for the core business. As contracts for our InteliSwab tests taper down, we are investing in our innovation roadmap, both organically and inorganically, and building opportunities for future growth. External partnerships are a fundamental part of our strategy to drive expansion in our core business, and we believe the progress we are making positions us for profitable growth, strengthens our medium to long-term competitiveness, and creates additional shareholder value. I believe we are in a strong strategic position to play an important role in the future of healthcare as we expect to see the increased importance of empowering consumers. Paired with our mantra of innovating and operating with disciplined execution and accountability, I anticipate that we will profitably power the shift that connects people to better healthcare. We will be holding our 2024 Annual Meeting of Stockholders (the "Annual Meeting") of OraSure Technologies, Inc. (the "Company") on Tuesday, May 14, 2024 at 10:00 a.m. (Eastern Time) . This year's Annual Meeting will (again) be a virtual meeting, conducted as a live webcast. You will be able to attend the Annual Meeting online, vote your shares electronically if you wish, and submit your questions during the meeting by visiting www.virtualshareholdermeeting.com/OSUR2024. Pursuant to the Securities and Exchange Commission rule allowing companies to furnish proxy materials to their stockholders over the internet, a Notice of Internet Availability of Proxy Materials (the "Notice") will be sent to stockholders on or about April 4, 2024. The Notice contains information on how to access copies of the proxy materials and vote your shares. Table of Contents At the Annual Meeting, you will be asked to (i) elect two Class III Directors to serve on the Board of Directors until the Annual Meeting of Stockholders in 2027; (ii) ratify the appointment of Grant Thornton LLP as our independent registered public accounting firm for the 2024 fiscal year; (iii) approve, by an advisory (non-binding) vote, the compensation of the Company's named executive officers as disclosed in the proxy materials; (iv) approve, an amendment to our Certificate of Incorporation to limit the liability of certain officers of the Company as permitted by recent amendments to Delaware law; (v) approve an amendment and restatement of the OraSure Technologies, Inc. Stock Award Plan (the "Stock Award Plan" or the "Plan") to increase the number of shares to be authorized for grant under the Plan by 3,000,000 shares; (vi) approve one or more adjournments of the Annual Meeting to a later date or dates, if necessary or appropriate, to permit further solicitation and vote of proxies in the event that there are insufficient votes to adopt the foregoing proposals; and (vii) transact such other business as may properly

View Full Filing

View this DEF 14A filing on SEC EDGAR