Utah Medical Products, Inc. Announces 2024 Annual Meeting of Stockholders

TL;DR

<b>UTMD will hold its 2024 Annual Meeting on May 3rd to vote on director re-elections, auditor ratification, and executive compensation.</b>

AI Summary

UTAH MEDICAL PRODUCTS INC (UTMD) filed a Proxy Statement (DEF 14A) with the SEC on April 10, 2024. The 2024 Annual Meeting of Stockholders for Utah Medical Products, Inc. (UTMD) will be held on Friday, May 3, 2024, at 12:00 noon (Mountain time). The meeting will take place at the company's corporate offices located at 7043 South 300 West, Midvale, Utah. Key proposals include the re-election of two directors and the ratification of the independent accounting firm. An advisory vote will be held to approve UTMD's executive compensation program, which remains unchanged. Stockholders of record as of the record date are eligible to attend, with proof of ownership required.

Why It Matters

For investors and stakeholders tracking UTAH MEDICAL PRODUCTS INC, this filing contains several important signals. The annual meeting is a critical forum for shareholders to exercise their voting rights on corporate governance matters, including director appointments and auditor selection. The advisory vote on executive compensation allows shareholders to express their views on the company's pay practices, potentially influencing future compensation decisions.

Risk Assessment

Risk Level: — UTAH MEDICAL PRODUCTS INC shows moderate risk based on this filing. The filing is a routine proxy statement for an annual meeting with standard proposals, indicating no immediate significant risks.

Analyst Insight

Review the director nominees and the independent accounting firm's ratification to make informed voting decisions.

Key Numbers

• 12:00 noon — Meeting Time (Time of the 2024 Annual Meeting of Stockholders)
• 2024 — Meeting Year (Year of the Annual Meeting of Stockholders)

Key Players & Entities

• UTAH MEDICAL PRODUCTS INC (company) — Registrant name
• UTMD (company) — Ticker symbol and abbreviation
• May 3, 2024 (date) — Date of the annual meeting
• 7043 South 300 West, Midvale, Utah (location) — Corporate office address

FAQ

Industry Context

Utah Medical Products, Inc. operates in the surgical and medical instruments and apparatus industry.

Regulatory Implications

The filing is made under Schedule 14A of the Securities Exchange Act of 1934, which governs the solicitation of proxies.

What Investors Should Do

1. Review the proxy statement for details on director nominees and their qualifications.
2. Understand the proposals to be voted on, including the ratification of the independent accounting firm.
3. Consider the advisory vote on executive compensation and its implications.

Key Dates

• 2024-05-03: 2024 Annual Meeting of Stockholders — Key date for shareholder voting on corporate matters.

Year-Over-Year Comparison

This is the initial filing for the 2024 proxy statement, with no prior period data available for comparison within this document.

Key Financial Figures

• $0.01 — 1,379 shares of common stock, par value $0.01 per share, of the Company (the "Common
• $77.07 — ption granted to Mr. Koopman in 2023 at $77.07 per share, the market price on the day
• $8,280 — s under the employee Health Plan, up to $8,280 in 401(k) matching contributions, up to
• $500 — in 401(k) matching contributions, up to $500 in pet health cost reimbursements and u
• $156,000 — nwell's base salary for 2023 was set at $156,000, the same as in 2022 and 2021. Mr. Corn

Filing Documents

• utmd_def14a.htm (DEF 14A) — 244KB
• utmddef14a_1.jpg (GRAPHIC) — 8KB
• utmddef14a_2.jpg (GRAPHIC) — 62KB
• utmddef14a_3.jpg (GRAPHIC) — 22KB
• 0001096906-24-000764.txt (&nbsp;) — 372KB

SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN PERSONS

SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN PERSONS 5 EXECUTIVE OFFICER COMPENSATION 6 2023 Summary Compensation Table 6 2023 Grants of Equity Incentive Plan-Based Awards 6 2023 Grants of Non-Equity Incentive Plan-Based Awards 6 Clawback Policy 7 Outstanding Equity Awards at 2023 Fiscal Year End 8 2023 Option Exercises and Stock Vested 8 2023 Pension Benefits 8 2023 Nonqualified Deferred Compensation 8 2023 Director Compensation 8 CEO PAY RATIO DISCLOSURE 9 DISCLOSURE RESPECTING THE COMPANY'S EQUITY COMPENSATION PLANS 9 COMPENSATION DISCUSSION AND ANALYSIS 10 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS 15 BOARD OF DIRECTORS AND BOARD COMMITTEE REPORTS 15 Stockholder Communications with Directors 17 Report of the Compensation and Benefits Committee 17 Report of the Audit Committee 18 STOCK PERFORMANCE CHART 18 PROPOSAL NO. 2. RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 19 PROPOSAL NO. 3. ADVISORY VOTE ON EXECUTIVE COMPENSATION 20 IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON MAY 3, 2024 21 STOCKHOLDER PROPOSALS 21 MISCELLANEOUS 21 UTAH MEDICAL PRODUCTS, INC. PROXY STATEMENT This Proxy Statement is furnished to stockholders of UTAH MEDICAL PRODUCTS, INC. (the "Company" or "UTMD") in connection with the Annual Meeting of Stockholders (the "Annual Meeting") to be held on May 3, 2024 at 12:00 noon local time, and any postponement or adjournment(s) thereof. The enclosed proxy, when properly executed and returned in a timely manner, will be voted at the Annual Meeting in accordance with the directions set forth thereon. If the enclosed proxy is signed and timely returned without specific instructions, it will be voted at the Annual Meeting: (1) FOR the election of Kevin L. Cornwell and Paul O. Richins as directors; (2) FOR the ratification of Haynie & Company as the C

SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN PERSONS

SECURITY OWNERSHIP OF MANAGEMENT AND CERTAIN PERSONS The following table furnishes information concerning the ownership of the Company's Common Stock as of March 1, 2024, by the directors, the nominee for director, the executive officers named in the compensation tables on page 5, all directors and executive officers as a group, and those known by the Company to own beneficially more than 5% of the Company's outstanding Common Stock as of December 31, 2023. Name Nature of Ownership Number of Shares Owned Percent Principal Stockholders FMR LLC Direct 389,708 10.8% 245 Summer Street Boston, Massachusetts 02210 T. Rowe Price Associates, Inc. Direct 269,166 7.5% 101 East Pratt Street Baltimore, Maryland 21201 Renaissance Technologies LLC Direct 204,614 5.7% 800 Third Ave New York, New York 10022 BlackRock, Inc. 55 East 52 nd Street New York, NY 10055 Direct 204,421 5.7% Directors and Executive Officers Kevin L. Cornwell (1) Direct 188,472 5.2% Ernst G. Hoyer (1)(2)(3)(4) Direct 5,000 0.2% Barbara A. Payne (2)(4) Direct 4,838 0.1% Paul O. Richins (2)(3) Direct 21,461 0.6% James H. Beeson (3)(4) Direct 13,125 0.4% Brian L. Koopman All executive officers and Direct Options Total Direct 932 4,600 5,532 233,828 0.0% 0.1 % 0.1% 6.5% directors as a group (6 persons) Options 4,600 0.1 % Total 238,428 6.6% (1) Executive Committee member (2) Audit Committee member (3) Governance and Nominating Committee member (4) Compensation and Benefits Committee member In the previous table, shares owned directly by directors and executive officers are owned beneficially and of record, and such record stockholder has sole voting, investment and dispositive power. Calculations of percentage of shares outstanding assumes the exercise of options to which the percentage relates. Percentages calculated for totals assume the exercise of options comprising such totals. S ection 16(a) Beneficial Ownersh

View Full Filing

View this DEF 14A filing on SEC EDGAR