Pay Versus Performance

As described in greater detail in "Compensation Discussion and Analysis," our executive compensation program reflects a variable "pay-for-performance" philosophy. The performance measures that we use for both our long-term and short-term incentive awards are selected based on an objective of incentivizing our Named Executive Officers to increase the value of our enterprise for our stockholders.

The following table sets forth information regarding the compensation provided to our principal executive officer (the "CEO/PEO") and our other Named Executive Officers (the "Non-PEO" Named Executive Officers") and our performance during the last four fiscal years.


Year(1)		Summary Compensation Table Total for CEO/PEO ($)		Compensation Actually Paid to CEO/PEO ($)(2)		Average Summary Compensation Table for Non-PEO NEOs ($)		Average Compensation Actually Paid to Non-PEO NEOs ($)(3)		Value of Initial Fixed $100 Investment Based On:				Net Loss ($ thousands)			Total Revenue ($ thousands)(6)
										Total Shareholder Return ($)(4)		Peer Group Total Shareholder Return ($)(5)
	2023		9,477,979		23,339,656		3,432,342		5,474,297		212.97		140.46		(186,638	)		482,262
	2022		5,948,299		7,374,460		2,283,006		3,044,347		173.94		121.80		(151,293	)		350,867
	2021		5,266,839		8,273,363		2,844,858		3,144,984		160.99		151.64		(143,032	)		243,212
	2020		4,683,936		23,639,741		1,477,059		5,761,467		204.51		122.39		(78,994	)		144,861

(1)

The CEO/PEO and Non-PEO Named Executive Officers included in the above compensation columns reflect the following:


Year	CEO/PEO	Non-PEO/NEOs
2023	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel, Scott Lish
2022	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel, Eric Dasso
2021	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel
2020	Patrick S. Miles	Craig E. Hunsaker, David P. Sponsel

(2)

"Compensation Actually Paid" to the CEO/PEO reflects the following adjustments from Total Compensation reported in the Summary Compensation Table:


Adjustments to Determine Compensation "Actually Paid" for CEO/PEO	2023 ($)		2022 ($)			2021 ($)			2020 ($)
Total Reported in Summary Compensation Table		9,477,979		5,948,299			5,266,839			4,683,936
Less Amounts Reported under the "Stock Awards Column" in the Summary Compensation Table		7,687,586		4,356,657			3,696,750			3,224,266
Less Amounts Reported under the "Option Awards" Column in the Summary Compensation Table		-		—			—			—
Plus the Fair Value of Awards Granted during covered year that Remain Unvested as of Year-end		10,134,386		6,510,735			10,572,750			12,714,583
Plus the Fair Value of Awards Granted during covered year that Vested during covered year		-		—			—			125,793
Plus the Change in Fair Value from prior Year-end to current Year-end of Awards Granted prior to covered year that were Outstanding and Unvested as of Year-end		1,802,804		1,116,353			(4,423,380	)		10,733,420
Plus the Change in Fair Value from prior Year-end to Vesting Date of Awards Granted prior to covered year that Vested during covered year		9,612,073		(1,844,270	)		553,904			(1,393,725	)
Total Adjustments		13,861,677		1,426,161			3,006,524			18,955,805
Compensation Actually Paid		23,339,656		7,374,460			8,273,363			23,639,741

(3)

The average "Compensation Actually Paid" to the Non-PEO Named Executive Officers reflect the following adjustments from Total Compensation reported in the Summary Compensation Table:


Adjustments to Determine Average Compensation "Actually Paid" for Non-PEO NEOs	2023 ($)		2022 ($)			2021 ($)			2020 ($)
Total Reported in Summary Compensation Table		3,432,342		2,283,006			2,844,858			1,477,059
Less Amounts Reported under the "Stock Awards Column" in the Summary Compensation Table		2,489,639		1,389,695			2,067,800			723,996
Less Amounts Reported under the "Option Awards" Column in the Summary Compensation Table		—		—			—			—
Plus the Fair Value of Awards Granted during covered year that Remain Unvested as of Year-end		3,340,773		2,076,807			2,971,800			2,784,776
Plus the Fair Value of Awards Granted during covered year that Vested during covered year		—		—			—			45,359
Plus the Change in Fair Value from prior Year-end to current Year-end of Awards Granted prior to covered year that were Outstanding and Unvested as of Year-end		537,648		266,411			(697,232	)		2,408,807
Plus the Change in Fair Value from prior Year-end to Vesting Date of Awards Granted prior to covered year that Vested during covered year		653,173		(192,182	)		93,358			(230,538	)
Total Adjustments		2,041,955		761,341			300,126			4,284,408
Compensation Actually Paid		5,474,297		3,044,347			3,144,984			5,761,467

(4)

Reflects total shareholder return indexed to $100 invested on December 31, 2019.

(5)

Reflects total shareholder return indexed to $100 invested on December 31, 2019 for the Nasdaq Medical Equipment Index, which is an industry line peer group reported in the performance graph included in the Company’s 2023 Annual Report on Form 10-K, and assuming reinvestment of all dividends, where applicable.

(6)

Total Revenue, which is a GAAP measure, represents the most important financial performance measure (that is not otherwise required to be disclosed in the table) used by the Company to link compensation actually paid to our Named Executive Officers, including our CEO, for the most recently completed fiscal year to the Company’s performance.

Named Executive Officers, Footnote

(1)

The CEO/PEO and Non-PEO Named Executive Officers included in the above compensation columns reflect the following:


Year	CEO/PEO	Non-PEO/NEOs
2023	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel, Scott Lish
2022	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel, Eric Dasso
2021	Patrick S. Miles	J. Todd Koning, Craig E. Hunsaker, David P. Sponsel
2020	Patrick S. Miles	Craig E. Hunsaker, David P. Sponsel

"

PEO Total Compensation Amount

$ 9,477,979

$ 5,948,299

$ 5,266,839

$ 4,683,936

Adjustment To PEO Compensation, Footnote

(2)

"Compensation Actually Paid" to the CEO/PEO reflects the following adjustments from Total Compensation reported in the Summary Compensation Table:


Adjustments to Determine Compensation "Actually Paid" for CEO/PEO	2023 ($)		2022 ($)			2021 ($)			2020 ($)
Total Reported in Summary Compensation Table		9,477,979		5,948,299			5,266,839			4,683,936
Less Amounts Reported under the "Stock Awards Column" in the Summary Compensation Table		7,687,586		4,356,657			3,696,750			3,224,266
Less Amounts Reported under the "Option Awards" Column in the Summary Compensation Table		-		—			—			—
Plus the Fair Value of Awards Granted during covered year that Remain Unvested as of Year-end		10,134,386		6,510,735			10,572,750			12,714,583
Plus the Fair Value of Awards Granted during covered year that Vested during covered year		-		—			—			125,793
Plus the Change in Fair Value from prior Year-end to current Year-end of Awards Granted prior to covered year that were Outstanding and Unvested as of Year-end		1,802,804		1,116,353			(4,423,380	)		10,733,420
Plus the Change in Fair Value from prior Year-end to Vesting Date of Awards Granted prior to covered year that Vested during covered year		9,612,073		(1,844,270	)		553,904			(1,393,725	)
Total Adjustments		13,861,677		1,426,161			3,006,524			18,955,805
Compensation Actually Paid		23,339,656		7,374,460			8,273,363			23,639,741

Non-PEO NEO Average Compensation Actually Paid Amount

$ 5,474,297

3,044,347

3,144,984

5,761,467

Compensation Actually Paid vs. Total Shareholder Return

PEO and Average Non-PEO Named Executive Officer Compensation Actually Paid Versus TSR

(in thousands except for TSR, assuming $100 invested on December 31, 2019)

Tabular List, Table

Pay Versus Performance Tabular List of Most Important Financial Performance Measures for All Named Executive Officers for 2023

As described in greater detail in the "Compensation Discussion and Analysis" included in this proxy statement, our executive compensation program reflects a "pay-for-performance" philosophy. The most important financial performance measures we use to link executive compensation actually paid to our Named Executive Officers, for the most recently completed fiscal year, to our performance are as follows:

•

Total revenue

•

Adjusted EBITDA

•

Adjusted EBITDA margin.