XML 26 R2.htm IDEA: XBRL DOCUMENT v3.24.1
Pay vs Performance Disclosure
 12 Months Ended
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
Year
Summary Compensation Table Total for PEO(1)
Compensation Actually Paid to PEO(1)(2)
Average Summary Compensation Table Total for Non-PEO NEOs(1)
Average Compensation Actually Paid to Non-PEO NEOs(1)(2)
Total Shareholder Return
Peer Group Total Shareholder Return(3)
Net (Loss) Income (millions)
Adjusted EBITDA %(4)
2023$7,059,325 $(1,816,558)$1,675,659 $(222,491)$81.17 $143.18 $(100.2)18.1 %
2022$8,523,732 $(4,535,253)$1,836,308 $(42,128)$113.60 $140.29 $243.1 20.1 %
2021$9,199,748 $28,844,127 $2,474,388 $4,661,522 $152.02 $143.09 $340.5 19.7 %
2020$7,370,894 $14,441,335 $1,640,642 $2,321,660 $113.80 $113.45 $33.3 13.0 %
      
Company Selected Measure Name adjusted EBITDA      
Named Executive Officers, Footnote The PEO for 2023, 2022, 2021 and 2020 was Amir Aghdaei. The non-PEO NEOs for 2022, 2021 and 2020 were Howard Yu (Senior Vice President and Chief Financial Officer), Jean-Claude Kyrillos (Senior Vice President of Diagnostics and Digital Solutions), Patrik Eriksson (Senior Vice President, President of Nobel Biocare), and Mark Nance (Senior Vice President, General Counsel and Secretary). The non-PEO NEOs for 2023 were Mr. Yu, Mr. Kyrillos, Mr. Eriksson, Mr. Nance, Stephen Keller (Principal Financial Officer) and Eric Conley (Senior Vice President and President, Orthodontics).      
Peer Group Issuers, Footnote Total shareholder return (“TSR”) is determined based on the value of an initial fixed investment of $100 on December 31, 2019. The Peer Group TSR set forth in this table utilizes the S&P 500 Health Care Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report on Form 10-K for the year ended December 31, 2023. Historical stock performance is not necessarily indicative of future stock performance.      
PEO Total Compensation Amount $ 7,059,325 $ 8,523,732 $ 9,199,748 $ 7,370,894
PEO Actually Paid Compensation Amount $ (1,816,558) (4,535,253) 28,844,127 14,441,335
Adjustment To PEO Compensation, Footnote
Equity award adjustments
YearExecutive(s)SCT TotalDeduct grant date fair value of equity awards reported in SCTAdd year-end value of unvested equity awards granted in yearChange in value of unvested equity awards granted in prior yearsFair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the YearChange in value of equity awards granted in prior years which vested in year
2023PEO$7,059,325 $(5,200,178)$1,613,810 $(5,825,994)$536,479 
Non-PEO NEOs$1,675,659 $(971,147)$212,290 $(332,625)$(891,449)$84,781 
2022PEO$8,523,732 $(5,100,321)$2,608,474 $(11,166,139)$599,000 
Non-PEO NEOs$1,836,308 $(1,025,211)$537,397 $(1,446,374)$55,752 
2021PEO$9,199,748 $(4,700,022)$6,694,551 $14,514,792 $3,135,059 
Non-PEO NEOs$2,474,388 $(1,350,182)$2,029,238 $1,321,927 $186,151 
2020PEO$7,370,894 $(4,500,157)$6,904,798 $5,224,388 $(558,588)
Non-PEO NEOs$1,640,642 $(781,373)$1,198,887 $331,885 $(68,381)
      
Non-PEO NEO Average Total Compensation Amount $ 1,675,659 1,836,308 2,474,388 1,640,642
Non-PEO NEO Average Compensation Actually Paid Amount $ (222,491) (42,128) 4,661,522 2,321,660
Adjustment to Non-PEO NEO Compensation Footnote
Equity award adjustments
YearExecutive(s)SCT TotalDeduct grant date fair value of equity awards reported in SCTAdd year-end value of unvested equity awards granted in yearChange in value of unvested equity awards granted in prior yearsFair Value at the End of the Prior Year of Equity Awards that Failed to Meet Vesting Conditions in the YearChange in value of equity awards granted in prior years which vested in year
2023PEO$7,059,325 $(5,200,178)$1,613,810 $(5,825,994)$536,479 
Non-PEO NEOs$1,675,659 $(971,147)$212,290 $(332,625)$(891,449)$84,781 
2022PEO$8,523,732 $(5,100,321)$2,608,474 $(11,166,139)$599,000 
Non-PEO NEOs$1,836,308 $(1,025,211)$537,397 $(1,446,374)$55,752 
2021PEO$9,199,748 $(4,700,022)$6,694,551 $14,514,792 $3,135,059 
Non-PEO NEOs$2,474,388 $(1,350,182)$2,029,238 $1,321,927 $186,151 
2020PEO$7,370,894 $(4,500,157)$6,904,798 $5,224,388 $(558,588)
Non-PEO NEOs$1,640,642 $(781,373)$1,198,887 $331,885 $(68,381)
      
Compensation Actually Paid vs. Total Shareholder Return
Description of Relationship Between PEO and Other NEO Compensation Actually Paid, Company TSR, and Peer Group TSR

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, the Company’s cumulative TSR over the four most recently completed fiscal years, and the TSR of the S&P 500 Health Care Index over the same period.


emtsr.jpg
      
Compensation Actually Paid vs. Net Income
Description of Relationship Between PEO and Other NEO Compensation Actually Paid and Net Income

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our Net Income during the four most recently completed fiscal years.

netincome.jpg
      
Compensation Actually Paid vs. Company Selected Measure
Description of Relationship Between PEO and Other NEO Compensation Actually Paid and Adjusted EBITDA Margin

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, and our adjusted EBITDA margin during the four most recently completed fiscal years.

emebitda.jpg
      
Total Shareholder Return Vs Peer Group
Description of Relationship Between PEO and Other NEO Compensation Actually Paid, Company TSR, and Peer Group TSR

The following chart sets forth the relationship between Compensation Actually Paid to our PEO, the average of Compensation Actually Paid to our other NEOs, the Company’s cumulative TSR over the four most recently completed fiscal years, and the TSR of the S&P 500 Health Care Index over the same period.


emtsr.jpg
      
Tabular List, Table
•Core Sales Growth
•Free Cash Flow
•Adjusted EBITDA Margin
      
Total Shareholder Return Amount $ 81.17 113.60 152.02 113.80
Peer Group Total Shareholder Return Amount 143.18 140.29 143.09 113.45
Net Income (Loss) $ (100,200,000) $ 243,100,000 $ 340,500,000 $ 33,300,000
Company Selected Measure Amount 0.181 0.201 0.197 0.130
PEO Name Amir Aghdaei      
Additional 402(v) Disclosure The amounts shown in the Compensation Actually Paid columns have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table (“SCT”) Total with certain adjustments as described below.      
Measure:: 1        
Pay vs Performance Disclosure        
Name Core Sales Growth      
Measure:: 2        
Pay vs Performance Disclosure        
Name Free Cash Flow      
Measure:: 3        
Pay vs Performance Disclosure        
Name Adjusted EBITDA Margin      
Non-GAAP Measure Description We determined adjusted EBITDA margin, calculated consistent with how the Company reports adjusted EBITDA to the public, divided by the Company’s total net sales, to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and Non-PEO NEOs in 2023. This performance measure may not have been the most important financial performance measure for years 2021 and 2020, and we may determine a different financial performance measure to be the most important financial performance measure in future years.      
PEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (5,200,178) $ (5,100,321) $ (4,700,022) $ (4,500,157)
PEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,613,810 2,608,474 6,694,551 6,904,798
PEO | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (5,825,994) (11,166,139) 14,514,792 5,224,388
PEO | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 536,479 599,000 3,135,059 (558,588)
Non-PEO NEO | Equity Awards Granted During the Year, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (971,147) (1,025,211) (1,350,182) (781,373)
Non-PEO NEO | Equity Awards Granted During the Year, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 212,290 537,397 2,029,238 1,198,887
Non-PEO NEO | Equity Awards Granted In Prior Years, Unvested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (332,625) (1,446,374) 1,321,927 331,885
Non-PEO NEO | Equity Awards Granted In Prior Years, Vested [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 84,781 $ 55,752 $ 186,151 $ (68,381)
Non-PEO NEO | Equity Awards that Failed to Meet Vesting Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (891,449)