MERIT MEDICAL SYSTEMS INC
For the period ended Apr 1, 2025. Filed Apr 1, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Apr 1, 2025 · Filed Apr 1, 2025
MMSI$87.23-2.7%Stored close · as of Nov 6, 2026
Contents
Directors Whose Terms of Office Continue
In its regular discussions regarding Board composition, our Governance Committee works with the Board to determine the appropriate mix of professional experience, areas of expertise, educational background and other qualifications that are particularly desirable for our directors to possess in light of our current and future business strategies.
The Board believes that its current members have the right combination of experience and qualifications to continue to lead the Company to success. Information regarding the specific experience, qualifications, attributes and skills that led the Board and the Governance Committee to conclude that each continuing director should serve on the Board are set forth below:
| LONNY J. CARPENTERIndependent DirectorAge: 63Director Since: June 2020Committees: Compensation (Chair), FinanceOther Public Boards: Novanta Inc.Education: B.S., United States Military Academy at West PointTerm Expires: 2026 | | DAVID K. FLOYDIndependent DirectorAge: 64Director Since: June 2020Committees: Governance (Chair), FinanceOther Public Boards: NoneEducation: B.S., Grace CollegeTerm Expires: 2026 | ||
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| Career Highlights●Member of the Board of Directors of Orchid Orthopedics Solutions (a privately-owned orthopedic medical device outsourcing company), 2019 to present●Member of the Board of Directors of The Boler Company, (a privately-owned auto part manufacturing company), 2019 to present●Member of the Board of Directors (Lead Independent Director) of Novanta Inc., a manufacturer of precision photonic and motion control components and subsystems, 2018 to 2024●Group President, Global Quality and Business Operations, Stryker Corporation, 2016 to 2019●Group President, Global Quality and Operations, Stryker Corporation, 2011 to 2016●President, Instruments and Medical Division, Stryker Corporation, 2006 to 2008●Captain in the U.S. Army and helicopter pilot having served in leadership roles for the 101st Airborne DivisionQualifications of Particular Relevance to MeritThe Board believes Mr. Carpenter’s broad business background and experience in setting enterprise-wide direction, experience in quality, manufacturing, procurement and logistics strategies from his tenure at Stryker provide the Board with practical, real-world knowledge and guidance and have strengthened the Company’s efficiency and cost-reduction initiatives. Mr. Carpenter’s business background and experience have been particularly beneficial to the Company in the course of his current leadership of the Compensation Committee, his leadership of the Operating Committee prior to its consolidation into the Finance Committee and the development of our CGI Program. | | Career Highlights●Board Chair, Corin Group LTD, a privately-held global orthopedic enabling technology company, 2020 to present●Board member and Operations Committee Chair of Health Outcomes Performance Company (HoPCo), a privately-owned musculoskeletal and value-based care company focused on transforming the patient care experience and improving the practice of medicine, 2020 to present●Senior Advisor, Permira, a leading global private equity investment firm●Group President, Orthopaedics, Stryker Corporation, 2012 to 2019●U.S. President and Worldwide President of Johnson & Johnson’s DePuy Orthopaedics, 2007 to 2011Qualifications of Particular Relevance to MeritMr. Floyd possesses more than 35 years of experience as a leader in the life sciences industry, including serving as president and CEO within several leading medical technology companies. Additionally, the Board believes Mr. Floyd’s over 20 years of general management experience provide the Board with expertise on a broad range of matters, including mergers and acquisitions, strategic planning, global business and operations, corporate governance and product commercialization. The Board believes Mr. Floyd’s industry and management experience have been particularly beneficial through his service on the Governance, Finance and Operating Committees and his guidance in the Company’s development of our CGI Program. | ||
| LYNNE N. WARDIndependent DirectorAge: 66Director Since: August 2019Committees: Audit (Chair), FinanceOther Public Boards: NoneEducation: B.S. University of Utah (Accounting)Term Expires: 2026 | | REAR ADMIRAL (RET.) STEPHEN C. EVANSIndependent DirectorAge: 60Director Since: June 2021Committees: Audit, CompensationOther Public Boards: Alarm.com Holdings, Inc.Education: M.A., U.S. Naval War College (National Security Affairs), B.A., The CitadelTerm Expires: 2027 | ||
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| Career Highlights●Executive Director of my529 (formerly known as the Utah Educational Savings Plan), offering municipal fund securities, 2004 to 2019. Underlying investments were with Vanguard, Dimensional, PIMCO, Sallie Mae Bank and U.S. Bank.●Member of the University of Utah’s Investment Advisory Committee, 2018 to 2024●Member of the Board of Directors of the Blue Healthcare Bank, 2007 to 2009●Member of the Board of Directors of Stampin’ Up!, 2010 to 2016●Member of the National Association of Corporate Directors (Utah Chapter), 2017 to present●Walker Institute at Weber State University board of directors, 2012 to 2021 ●Senior leader and advisor to Utah governors Olene S. Walker and Michael O. Leavitt●Senior leader for Utah state government’s central accounting office and Utah State Auditor’s Office●Certified public accountantQualifications of Particular Relevance to MeritMs. Ward demonstrated her diverse skills by leading my529’s rapid growth of $950 million to $14 billion assets under management. The Board believes her high standards, strategic foresight and business development fueled that growth. Her cost management, and investment and marketing innovations of a highly regulated product led to year-over-year Gold ratings from Morningstar. The Board believes Ms. Ward has strong career experience, including financial oversight capabilities and leadership of a rapidly growing organization. The Board believes her contributions strengthen the Company’s strategic direction while encouraging operational excellence. The Board also recognizes the valuable perspective and significant service Ms. Ward provides to the Company as Chair of the Audit Committee of the Board (Audit Committee). | | Career Highlights●Served in the United States Navy, most recently as Special Advisor to the Commander, Naval Operations, before retiring in 2020. During more than 20 years of service in the United States Navy, Admiral Evans held a variety of leadership positions, including Senior Advisor, Deputy U.S. Military, NATO Military Committee; Commander, George H. W. Bush Carrier Strike Group; and Commander, Naval Service Training Command●Served on diplomatic missions in over 64 countries, delivering results in international diplomacy and military relations to establish enduring, productive global partnerships●Commanded U.S. naval forces in six operational theaters●Served in a senior strategic advisory role to the 75th Secretary of the Navy●Represented the U.S. in deliberations and actions of NATO, providing counsel to Heads of State in Europe and around the worldQualifications of Particular Relevance to MeritAdmiral Evans possesses extensive experience in handling complex, international relationships. His prior leadership experiences, particularly within the last two decades, involved extensive cybersecurity oversight, and he has broad experience in anticipating and identifying cyber risks and digital vulnerabilities. Admiral Evans’ cybersecurity experience is of particular importance to the Company as we seek to secure our information technology and build secure and effective information systems and to assess and mitigate potential cybersecurity risk. Admiral Evans has extensive insight on geo-political matters, and the Board believes that, together with his experience in handling global partnerships, he provides valuable counsel to the Company as it seeks to expand its operations and sales efforts across the globe. | ||
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10| Understand. Innovate. Deliver. TM
| FRED P. LAMPROPOULOSChair, President, Chief Executive OfficerAge: 75Director Since: July 1987Other Public Boards: NoneTerm Expires: 2027 | | SILVIA M. PEREZIndependent DirectorAge: 58Director Since: May 2024Other Public Boards: NoneCommittees: Audit, GovernanceEducation: Pharmaceutical Chemist, University of the Republic (Uruguay); Industrial Pharmacist, Federal University of Parana (Brazil)Term Expires: 2027 | ||
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| Career Highlights●Chair of the Board, Chief Executive Officer (CEO) and President of the Company since its formation in 1987●Chair of the Board and President of Utah Medical Products, Inc. (medical device manufacturer), 1983 to 1987●Filed more than 300 domestic and international patents and applications on medical devices●Serves on multiple community and advisory boards ●Recipient of numerous community and industry awards, including the 2019 Salt Lake Chamber of Commerce “Giant in our City” and 2003 and 2018 Utah Governor’s Medal for Science and TechnologyQualifications of Particular Relevance to MeritThe Board believes the Company benefits immensely from Mr. Lampropoulos’ experience as founder, President and CEO. He plays an essential role in communicating the expectations, advice, concerns and encouragement of the Board to our employees. Mr. Lampropoulos has a deep knowledge and understanding of the Company, as well as the industry and markets in which our products compete. Mr. Lampropoulos also performs an essential function as the Chair of the Board, providing decisive leadership and direction to the activities and deliberations of the Board. The Board also believes Mr. Lampropoulos’ leadership, drive and determination are significant factors in our growth and development and continue to be tremendous assets to the Company and its shareholders. | | Career Highlights●President of Commercial Branding and Transportation, a $2.6 billion revenue division of 3M Company, a multinational NYSE-listed company operating in the fields of industry, consumer goods and worker safety, 2023 to present●President and General Manager of Commercial Solutions Division of 3M Company, an approximate $1.8 billion division, 2020 to 2023 ●Interim President of Acelity acquisition, overseeing the integration of Acelity into 3M Company, which was the largest acquisition in the history of 3M Company, 2019 to 2020●Various leadership roles within the healthcare business of 3M Company, both domestic and international, 1994 to 2019 ●Obtained Six Sigma Black Belt and Master Black Belt CertificationsQualifications of Particular Relevance to MeritMs. Perez brings a 25-plus year career in the healthcare industry with a broad background spanning clinical, regulatory, operations, marketing, and business leadership. The Board believes her broad experience and proven track record of leadership success enable her to provide valuable industry and organizational perspective to the Board and the Company’s management team. The Board also believes Ms. Perez’s first-hand experience with post-acquisition business integration aids the Company in its strategic merger and acquisition endeavors. | ||
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