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Pay vs Performance Disclosure - USD ($)

4 Months Ended

8 Months Ended

12 Months Ended

36 Months Ended

Dec. 31, 2023

Sep. 11, 2023

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Dec. 31, 2020

Jan. 05, 2023

Pay vs Performance Disclosure

Pay vs Performance Disclosure, Table

      PAY VERSUS PERFORMANCE

     

In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, the Company is required to disclose in its proxy statement information that shows the relationship between “Compensation Actually Paid” as defined in Item 402(v) of Regulation S-K and the financial performance of the Company. The following table provides compensation, both as reported in the Summary Compensation Table and with certain adjustments to reflect the “Compensation Actually Paid”, as computed in accordance with SEC rules, for our principal executive officer (“PEO”), who we have identified as Jon C. Serbousek, who served in the role of President and Chief Executive Officer for each of the years presented below through January 5, 2023 (PEO 1), Keith C. Valentine (PEO 2), our CEO from January 5, 2023 through September 11, 2023, Catherine Burzik (PEO 3), our Interim CEO beginning on September 11, 2023, and our other named executive officers for each of the years presented below other than the PEO (such other named executive officers, the “Non-PEO NEOs”). In accordance with SEC rules, the table also provides information on our cumulative TSR, the cumulative TSR of a peer group, Net Income, and a Company-Selected Measure, Company-wide net sales.

“Compensation Actually Paid” does not necessarily reflect the target value of compensation as approved by our Compensation and Talent Development Committee or the value of compensation actually earned, realized, or received by the Company’s NEOs. The Compensation and Talent Development Committee did not consider the “Compensation Actually Paid” in making its pay decisions for any of the years shown.


Year	Summary Compensation Table Total for PEO 1¹ ($)		Summary Compensation Table Total for PEO 2¹ ($)		Summary Compensation Table Total for PEO 3¹ ($)		Compensation Actually Paid to PEO 1¹˒²˒³ ($)		Compensation Actually Paid to PEO 2¹˒²˒³ ($)		Compensation Actually Paid to PEO 3¹˒²˒³ ($)		Average Summary Compensation Table Total for Non-PEO NEOs1 ($)		Average Compensation Actually Paid to Non-PEO NEOs1,2,3 ($)		Value of Initial Fixed $100 Investment based on: 4		Net Income ($ Millions)	Company-Wide Net Sales⁵ ($ Millions)
																	TSR ($)	Peer Group TSR ($)
(a)	(b)		(b)		(b)		(c)		(c)		(c)		(d)		(e)		(f)	(g)	(h)	(i)
2023		15,628,123		6,484,267		2,615,890		2,339,023		-1,199,925		2,578,673		2,275,647		521,034	29.19	130.16	-151.4	746.64
2022		6,316,051		—		—		5,003,168		—		—		2,133,026		1,363,185	44.46	120.91	-19.75	460.71
2021		5,340,865		—		—		723,446		—		—		1,791,220		673,740	67.32	169.55	-38.38	464.48
2020		5,337,861		—		—		6,764,143		—		—		1,502,685		1,451,284	93.07	145.89	2.52	406.56

(1) Jon C. Serbousek (PEO 1) was our CEO for each year presented until January 5, 2023. Keith C. Valentine (PEO 2) was our CEO from January 5, 2023 through September 11, 2023. Catherine Burzik (PEO 3) became our Interim CEO beginning on September 11, 2023. The individuals comprising the Non-PEO NEOs for each year presented are listed below.


2020	2021	2022	2023
Douglas C. Rice	Douglas C. Rice	Douglas C. Rice	Geoffrey C. Gillespie
Kimberley A. Elting	Kimberley A. Elting	Kimberley A. Elting	Kimberley A. Elting
Kevin J. Kenny	Kevin J. Kenny	Kevin J. Kenny	Kevin J. Kenny
Paul W. Gonsalves	Paul W. Gonsalves	Paul W. Gonsalves	John Bostjancic
Davide Bianchi			Douglas C. Rice
			Puja Leekha
			Patrick L. Keran

(2) The amounts shown for “Compensation Actually Paid” 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 Total with certain adjustments as described in footnote (3) below.

(3) “Compensation Actually Paid” reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table.


Year	Summary Compensation Table Total for PEO 1		Exclusion of Stock Awards and Option Awards for PEO 1			Inclusion of Equity Values for PEO 1			Compensation Actually Paid to PEO 1
	($)		($)			($)			($)
2023		15,628,123		(11,442,550	)		(1,846,550	)		2,339,023


Year	Summary Compensation Table Total for PEO 2		Exclusion of Stock Awards and Option Awards for PEO 2			Inclusion of Equity Values for PEO 2			Compensation Actually Paid to PEO 2
	($)		($)			($)			($)
2023		6,484,267		(5,873,274	)		(1,810,918	)		(1,199,925	)


Year	Summary Compensation Table Total for PEO 3		Exclusion of Stock Awards and Option Awards for PEO 3			Inclusion of Equity Values for PEO 3		Compensation Actually Paid to PEO 3
	($)		($)			($)		($)
2023		2,615,890		(1,870,633	)		1,833,416		2,578,673


Year	Average Summary Compensation Table Total for Non-PEO NEOs		Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs			Average Inclusion of Equity Values for Non-PEO NEOs			Average Compensation Actually Paid to Non-PEO NEOs
	($)		($)			($)			($)
2023		2,275,647		(1,740,265	)		(14,348	)		521,034

The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:


Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO 1		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO 1		Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO 1		Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO 1			Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO 1		Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Included for PEO 1		Total - Inclusion of Equity Values for PEO 1
	($)		($)		($)		($)			($)		($)		($)
2023		—		—		—		(1,846,550	)		—		—		(1,846,550	)


Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO 2		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO 2		Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO 2		Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO 2			Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO 2			Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Included for PEO 2		Total - Inclusion of Equity Values for PEO 2
	($)		($)		($)		($)			($)			($)		($)
2023		—		—		—		(16,017	)		(1,794,901	)		—		(1,810,918	)


Year	Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for PEO 3		Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for PEO 3			Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for PEO 3		Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for PEO 3			Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for PEO 3		Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Included for PEO 3		Total - Inclusion of Equity Values for PEO 3
	($)		($)			($)		($)			($)		($)		($)
2023		1,868,584		(25,068	)		—		(10,100	)		—		—		1,833,416


Year	Average Year-End Fair Value of Equity Awards Granted During Year That Remained Unvested as of Last Day of Year for Non-PEO NEOs		Average Change in Fair Value from Last Day of Prior Year to Last Day of Year of Unvested Equity Awards for Non-PEO NEOs			Average Vesting-Date Fair Value of Equity Awards Granted During Year that Vested During Year for Non-PEO NEOs		Average Change in Fair Value from Last Day of Prior Year to Vesting Date of Unvested Equity Awards that Vested During Year for Non-PEO NEOs			Average Fair Value at Last Day of Prior Year of Equity Awards Forfeited During Year for Non-PEO NEOs			Average Value of Dividends or Other Earnings Paid on Stock or Option Awards Not Otherwise Included for Non-PEO NEOs		Total - Average Inclusion of Equity Values for Non-PEO NEOs
	($)		($)			($)		($)			($)			($)		($)
2023		443,524		(269,062	)		—		(57,138	)		(131,672	)		—		(14,348	)

(4) The Peer Group TSR set forth in this table utilizes the NASDAQ Stocks Surgical, Medical and Dental Instruments Index (“Peer Group”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the years ended December 31, 2023. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Peer Group, respectively. All dollar values assume reinvestment of dividends paid by companies, where applicable, included in the Peer Group. Historical stock performance is not necessarily indicative of future stock performance.

(5) We determined Company-Wide Net Sales to be the most important financial performance measure used to link Company performance to “Compensation Actually Paid” to our NEOs in 2023. This performance measure may not have been the most important financial performance measure for prior years and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Company Selected Measure Name

Company-wide net sales

Named Executive Officers, Footnote


2020	2021	2022	2023
Douglas C. Rice	Douglas C. Rice	Douglas C. Rice	Geoffrey C. Gillespie
Kimberley A. Elting	Kimberley A. Elting	Kimberley A. Elting	Kimberley A. Elting
Kevin J. Kenny	Kevin J. Kenny	Kevin J. Kenny	Kevin J. Kenny
Paul W. Gonsalves	Paul W. Gonsalves	Paul W. Gonsalves	John Bostjancic
Davide Bianchi			Douglas C. Rice
			Puja Leekha
			Patrick L. Keran

Peer Group Issuers, Footnote

The Peer Group TSR set forth in this table utilizes the NASDAQ Stocks Surgical, Medical and Dental Instruments Index (“Peer Group”), which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the years ended December 31, 2023. The comparison assumes $100 was invested for the period starting December 31, 2019, through the end of the listed year in the Company and in the Peer Group, respectively. All dollar values assume reinvestment of dividends paid by companies, where applicable, included in the Peer Group. Historical stock performance is not necessarily indicative of future stock performance.

Adjustment To PEO Compensation, Footnote


Year	Summary Compensation Table Total for PEO 1		Exclusion of Stock Awards and Option Awards for PEO 1			Inclusion of Equity Values for PEO 1			Compensation Actually Paid to PEO 1
	($)		($)			($)			($)
2023		15,628,123		(11,442,550	)		(1,846,550	)		2,339,023


Year	Summary Compensation Table Total for PEO 2		Exclusion of Stock Awards and Option Awards for PEO 2			Inclusion of Equity Values for PEO 2			Compensation Actually Paid to PEO 2
	($)		($)			($)			($)
2023		6,484,267		(5,873,274	)		(1,810,918	)		(1,199,925	)


Year	Summary Compensation Table Total for PEO 3		Exclusion of Stock Awards and Option Awards for PEO 3			Inclusion of Equity Values for PEO 3		Compensation Actually Paid to PEO 3
	($)		($)			($)		($)
2023		2,615,890		(1,870,633	)		1,833,416		2,578,673

Non-PEO NEO Average Total Compensation Amount

$ 2,275,647

$ 2,133,026

$ 1,791,220

$ 1,502,685

Non-PEO NEO Average Compensation Actually Paid Amount

$ 521,034

1,363,185

673,740

1,451,284

Adjustment to Non-PEO NEO Compensation Footnote


Year	Average Summary Compensation Table Total for Non-PEO NEOs		Average Exclusion of Stock Awards and Option Awards for Non-PEO NEOs			Average Inclusion of Equity Values for Non-PEO NEOs			Average Compensation Actually Paid to Non-PEO NEOs
	($)		($)			($)			($)
2023		2,275,647		(1,740,265	)		(14,348	)		521,034

Compensation Actually Paid vs. Total Shareholder Return

The following graph shows the relationship of the average of the “Compensation Actually Paid” to our PEO and the average of “Compensation Actually Paid” to our Non-PEO NEOs to the TSR performance of our common stock and the TSR performance of the Peer Group. The TSR performance amounts in the graph assume that $100 was invested beginning on December 31, 2019 and that all distributions or dividends were reinvested, where applicable.

Compensation Actually Paid vs. Net Income

The following graph shows the relationship of the average of the “Compensation Actually Paid” to our PEOs and the average of the “Compensation Actually Paid” to our Non-PEO NEOs to our net income.

Compensation Actually Paid vs. Company Selected Measure

The following graph shows the relationship of “Compensation Actually Paid” to our PEO and the average of “Compensation Actually Paid” to our Non-PEO NEOs to Company-Wide Net Sales.

Total Shareholder Return Vs Peer Group

Tabular List, Table


Most Important Financial Metrics to Link Compensation to Performance:
CEO and CFO	Other NEOs
Company-Wide Net Sales	Company-Wide Net Sales
Adjusted EBITDA	Adjusted EBITDA
Relative TSR	Relative TSR
	Reporting Segment Net Sales