v3.26.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Pay vs Performance Disclosure          
Pay vs Performance Disclosure, Table

PAY VERSUS PERFORMANCE

As described in greater detail in “Executive Compensation – Compensation Discussion and Analysis,” our executive compensation program reflects a variable pay-for-performance philosophy. The following table and related disclosures provide further “pay versus performance” disclosure with respect to our Chief Executive Officer, also referred to as our principal executive officer (“PEO”), and our other NEOs, as contemplated by Item 402(v) of Regulation S-K.

 

 

 

Summary

 

 

 

 

 

Average Summary
Compensation

 

 

Average

 

 

Value of Initial Fixed $100
Investment Based On:

 

 

 

 

 

 

 

Year

 

Compensation

Table Total
for PEO
1

 

 

Compensation
Actually Paid
to PEO
2

 

 

Table

Total for Non-
PEO NEOs
3

 

 

Compensation
Actually Paid to
Non-PEO NEOs
4

 

 

Total
Shareholder
Return
5

 

 

Peer Group Total
Shareholder
Return
6

 

 

Net Income
(millions)
7

 

 

Income from
Operations

(millions)
8

 

(a)

 

(b)

 

 

(c)

 

 

(d)

 

 

(e)

 

 

(f)

 

 

(g)

 

 

(h)

 

 

(i)

 

2025

 

$

3,780,990

 

 

$

4,205,544

 

 

$

911,587

 

 

$

1,039,609

 

 

$

210

 

 

$

116

 

 

$

57.7

 

 

$

67.9

 

2024

 

$

3,235,558

 

 

$

8,321,039

 

 

$

1,106,355

 

 

$

2,845,528

 

 

$

236

 

 

$

109

 

 

$

44.0

 

 

$

52.3

 

2023

 

$

2,220,797

 

 

$

4,433,645

 

 

$

956,474

 

 

$

1,680,471

 

 

$

144

 

 

$

100

 

 

$

30.1

 

 

$

36.7

 

2022

 

$

1,940,112

 

 

$

2,426,823

 

 

$

876,242

 

 

$

984,574

 

 

$

116

 

 

$

97

 

 

$

20.6

 

 

$

26.8

 

2021

 

$

1,982,030

 

 

$

5,341,607

 

 

$

905,073

 

 

$

1,704,467

 

 

$

125

 

 

$

121

 

 

$

26.9

 

 

$

36.4

 

 

(1)
The dollar amounts reported in column (b) are the amounts of total compensation reported for George W. LeMaitre (our Chief Executive Officer or PEO) for each corresponding year in the “Total” column of the Summary Compensation Table. Refer to “Executive Compensation –Summary Compensation Table.”
(2)
The dollar amounts reported in column (c) represent the amount of “compensation actually paid” to Mr. LeMaitre, as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the average amount of compensation earned by or paid to Mr. LeMaitre during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the average compensation for Mr. LeMaitre for each year to determine the compensation actually paid:
       
Company Selected Measure Name Income fromOperations        
PEO Total Compensation Amount $ 3,780,990 $ 3,235,558 $ 2,220,797 $ 1,940,112 $ 1,982,030
PEO Actually Paid Compensation Amount $ 4,205,544 8,321,039 4,433,645 2,426,823 5,341,607
Adjustment To PEO Compensation, Footnote

Year

 

 

Reported Summary
Compensation Table
Total for PEO

 

 

Reported Value of
Equity Awards(x)

 

 

Equity Award
Adjustments(y)

 

 

Compensation
Actually Paid to
PEO

 

 

2025

 

 

$

3,780,990

 

 

$

(2,100,000

)

 

$

2,524,554

 

 

$

4,205,544

 

 

2024

 

 

$

3,235,558

 

 

$

(2,000,000

)

 

$

7,085,481

 

 

$

8,321,039

 

 

2023

 

 

$

2,220,797

 

 

$

(1,100,000

)

 

$

3,312,848

 

 

$

4,433,645

 

 

2022

 

 

$

1,940,112

 

 

$

(1,100,000

)

 

$

1,586,711

 

 

$

2,426,823

 

 

2021

 

 

$

1,982,030

 

 

$

(1,100,000

)

 

$

4,459,577

 

 

$

5,341,607

 

 

(x)
Represents the grant date fair value of equity-based awards granted each year as reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. Because we do not maintain a pension in which any NEO participates, no adjustments from the SCT total related to pension value are needed to calculate “compensation actually paid” in accordance with Item 402(v) of Regulation S-K.
(y)
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

 

Year

 

 

Year End
Fair Value of
Equity
Awards

 

 

Year over Year
Change in Fair
Value of
Outstanding and
Unvested Equity
Awards

 

 

Fair Value as of
Vesting Date of
Equity Awards
Granted and
Vested in the
Year

 

 

Year over Year
Change in Fair
Value of Equity
Awards Granted
in Prior Years
that Vested in
the Year

 

 

Fair Value at the
End of the Prior
Year of Equity
Awards that
Failed to Meet
Vesting
Conditions in the
Year

 

 

Value of Dividends
or other Earnings
Paid on Stock or
Option Awards
not Otherwise
Reflected in Fair
Value or Total
Compensation

 

 

Total Equity
Award
Adjustments

 

 

2025

 

 

$

2,001,555

 

 

$

(764,048

)

 

$

 

 

$

1,287,047

 

 

$

 

 

$

 

 

$

2,524,554

 

 

2024

 

 

$

1,737,603

 

 

$

1,989,559

 

 

$

 

 

$

3,358,320

 

 

$

 

 

$

 

 

$

7,085,481

 

 

2023

 

 

$

1,160,658

 

 

$

522,974

 

 

$

 

 

$

1,629,216

 

 

$

 

 

$

 

 

$

3,312,848

 

 

2022

 

 

$

1,065,968

 

 

$

(357,456

)

 

$

1,759

 

 

$

1,161,759

 

 

$

(286,647

)

 

$

1,329

 

 

$

1,586,711

 

 

2021

 

 

$

1,157,309

 

 

$

703,308

 

 

$

2,304

 

 

$

2,596,656

 

 

$

 

 

$

 

 

$

4,459,577

 

 

(3)
The dollar amounts reported in column (d) represent the average of the amounts reported for the Company’s NEOs as a group (excluding Mr. LeMaitre, who has served as our CEO in each of the covered years) in the “Total” column of the Summary Compensation Table in each applicable year. For each of the reported years, the names of each of the NEOs (excluding Mr. LeMaitre) included for purposes of calculating the average amounts in each applicable year are David B. Roberts, Joseph P. Pellegrino, and Trent G. Kamke and for 2025 only, Dorian P. LeBlanc.
(4)
The dollar amounts reported in column (e) represent the average amount of “compensation actually paid” (“CAP”) to the NEOs as a group (excluding Mr. LeMaitre), as computed in accordance with Item 402(v) of Regulation S-K. The dollar amounts do not reflect the average amount of compensation earned by or paid to the NEOs as a group (excluding Mr. LeMaitre) during the applicable year. In accordance with the requirements of Item 402(v) of Regulation S-K, the following adjustments were made to the average compensation for the NEOs as a group (excluding Mr. LeMaitre) for each year to determine the compensation actually paid:
       
Non-PEO NEO Average Total Compensation Amount $ 911,587 1,106,355 956,474 876,242 905,073
Non-PEO NEO Average Compensation Actually Paid Amount $ 1,039,609 2,845,528 1,680,471 984,574 1,704,467
Adjustment to Non-PEO NEO Compensation Footnote

Year

 

 

Average Reported
Summary
Compensation

Table Total for

Non-PEO NEOs

 

 

Average
Reported Value of

Equity Awards(x)

 

 

Average
Equity
Award
Adjustments(y)

 

 

Average
Compensation
Actually Paid to
Non-PEO NEOs

 

 

2025

 

 

$

911,587

 

 

$

(421,250

)

 

$

549,273

 

 

$

1,039,609

 

 

2024

 

 

$

1,106,355

 

 

$

(530,000

)

 

$

2,269,173

 

 

$

2,845,528

 

 

2023

 

 

$

956,474

 

 

$

(408,333

)

 

$

1,132,330

 

 

$

1,680,471

 

 

2022

 

 

$

876,242

 

 

$

(408,333

)

 

$

516,666

 

 

$

984,574

 

 

2021

 

 

$

905,073

 

 

$

(408,333

)

 

$

1,207,728

 

 

$

1,704,467

 

 

(x)
Represents the grant date fair value of equity-based awards granted each year as reported in the “Stock Awards” and “Option Awards” columns in the Summary Compensation Table for the applicable year. Because we do not maintain a pension in which any NEO participates, no adjustments from the SCT total related to pension value are needed to calculate “compensation actually paid” in accordance with Item 402(v) of Regulation S-K.
(y)
The equity award adjustments for each applicable year include the addition (or subtraction, as applicable) of the following: (i) the year-end fair value of any equity awards granted in the applicable year that are outstanding and unvested as of the end of the year; (ii) the amount of change as of the end of the applicable year (from the end of the prior fiscal year) in fair value of any awards granted in prior years that are outstanding and unvested as of the end of the applicable year; (iii) for awards that are granted and vest in same applicable year, the fair value as of the vesting date; (iv) for awards granted in prior years that vest in the applicable year, the amount equal to the change as of the vesting date (from the end of the prior fiscal year) in fair value; (v) for awards granted in prior years that are determined to fail to meet the applicable vesting conditions during the applicable year, a deduction for the amount equal to the fair value at the end of the prior fiscal year; and (vi) the dollar value of any dividends or other earnings paid on awards in the applicable year prior to the vesting date that are not otherwise reflected in the fair value of such award or included in any other component of total compensation for the applicable year. The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The amounts deducted or added in calculating the equity award adjustments are as follows:

 

Year

 

 

Average Year End
Fair Value of
Equity Awards

 

 

Year over Year
Average Change in
Fair Value of
Outstanding and
Unvested Equity
Awards

 

 

Average

Fair Value
as of Vesting Date
of Equity Awards
Granted and
Vested in the Year

 

 

Year over Year

Average
Change in

Fair Value of
Equity Awards

Granted in
Prior Years

that Vested in
the Year

 

 

Average

Fair Value
at the End of the
Prior Year of
Equity Awards
that Failed to Meet
Vesting Conditions
in the Year

 

 

Average Value of
Dividends or other
Earnings Paid on
Stock or Option
Awards not

Otherwise
Reflected in

Fair Value
or Total

Compensation

 

 

Total
Average
Equity
Award
Adjustments

 

 

2025

 

 

$

398,295

 

 

$

(173,816

)

 

$

4,586

 

 

$

320,208

 

 

$

 

 

$

 

 

$

549,273

 

 

2024

 

 

$

460,451

 

 

$

697,979

 

 

$

 

 

$

1,110,744

 

 

$

 

 

$

 

 

$

2,269,173

 

 

2023

 

 

$

430,777

 

 

$

178,470

 

 

$

 

 

$

523,083

 

 

$

 

 

$

 

 

$

1,132,330

 

 

2022

 

 

$

395,661

 

 

$

(108,829

)

 

$

6,860

 

 

$

328,914

 

 

$

(106,362

)

 

$

422

 

 

$

516,666

 

 

2021

 

 

$

429,021

 

 

$

198,028

 

 

$

384

 

 

$

580,295

 

 

$

 

 

$

 

 

$

1,207,728

 

 

(5)
Company total shareholder return (“TSR”) is calculated to show the cumulative stockholder return on our common stock during the covered period, including reinvestment of dividends.
(6)
Represents the weighted peer group TSR, weighted according to the respective companies’ stock market capitalization at the beginning of each period for which a return is indicated. The peer group used for this purpose is the following published industry index: iShares US Medical Devices ETF Index (Ticker: IHI).
(7)
The dollar amounts reported represent the amount of net income reflected in our audited financial statements for the applicable year.
(8)
The dollar amounts reported represent the amount of income from operations reflected in our audited financial statements for the applicable year.
       
Compensation Actually Paid vs. Total Shareholder Return

Compensation Actually Paid Versus Total Shareholder Return

As shown in the chart below, the PEO and other NEOs’ compensation actually paid (“CAP”) amounts are aligned with the Company’s TSR. This is partly due to the Company’s use of equity incentives, which are tied directly to stock price in addition to the Company’s financial performance.

 

img249945215_5.gif

       
Compensation Actually Paid vs. Net Income

Compensation Actually Paid Versus Net Income

As shown in the chart below, there is some correlation between the Company’s net income and the PEO and other NEOs’ CAP each year.

 

img249945215_6.gif

       
Compensation Actually Paid vs. Company Selected Measure

Compensation Actually Paid Versus Company-Selected Measure

The chart below compares the PEO and other NEOs’ CAP to our Company Selected Measure (“CSM”), income from operations, which indicates there is a relationship between this CSM and CAP.

 

img249945215_7.gif

       
Total Shareholder Return Vs Peer Group

Total Shareholder Return: Company Versus Peer Group

As shown in the chart below, the Company's 5-year cumulative TSR is greater than the companies included in our Peer Group, the iShares US Medical Devices ETF Index (Ticker: IHI).

 

img249945215_8.gif

 

*$100 invested on 12/31/20 in stock or index, including reinvestment of dividends. Fiscal year ending December 31.

       
Tabular List, Table

Financial Performance Measures

As described in greater detail in “Executive Compensation – Compensation Discussion and Analysis,” our executive compensation program reflects a variable pay-for-performance philosophy. The most important financial performance measures we used to link executive compensation actually paid to our NEOs, for the most recently completed fiscal year, to our performance are as follows:

Net sales;
Income from operations; and
Net income.
       
Total Shareholder Return Amount $ 210 236 144 116 125
Peer Group Total Shareholder Return Amount 116 109 100 97 121
Net Income (Loss) $ 57,700 $ 44,000 $ 30,100 $ 20,600 $ 26,900
Company Selected Measure Amount 67,900 52,300 36,700 26,800 36,400
PEO Name LeMaitre LeMaitre LeMaitre LeMaitre LeMaitre
Measure:: 1          
Pay vs Performance Disclosure          
Name Net sales        
Measure:: 2          
Pay vs Performance Disclosure          
Name Income from operations        
Measure:: 3          
Pay vs Performance Disclosure          
Name Net income        
PEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ (2,100,000) $ (2,000,000) $ (1,100,000) $ (1,100,000) $ (1,100,000)
PEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,524,554 7,085,481 3,312,848 1,586,711 4,459,577
PEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 2,001,555 1,737,603 1,160,658 1,065,968 1,157,309
PEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (764,048) 1,989,559 522,974 (357,456) 703,308
PEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 1,759 2,304
PEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 1,287,047 3,358,320 1,629,216 1,161,759 2,596,656
PEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 (286,647) 0
PEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 1,329 0
Non-PEO NEO | Aggregate Grant Date Fair Value of Equity Award Amounts Reported in Summary Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (421,250) (530,000) (408,333) (408,333) (408,333)
Non-PEO NEO | Equity Awards Adjustments, Excluding Value Reported in Compensation Table          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 549,273 2,269,173 1,132,330 516,666 1,207,728
Non-PEO NEO | Year-end Fair Value of Equity Awards Granted in Covered Year that are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 398,295 460,451 430,777 395,661 429,021
Non-PEO NEO | Year-over-Year Change in Fair Value of Equity Awards Granted in Prior Years That are Outstanding and Unvested          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount (173,816) 697,979 178,470 (108,829) 198,028
Non-PEO NEO | Vesting Date Fair Value of Equity Awards Granted and Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 4,586 0 0 6,860 384
Non-PEO NEO | Change in Fair Value as of Vesting Date of Prior Year Equity Awards Vested in Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 320,208 1,110,744 523,083 328,914 580,295
Non-PEO NEO | Prior Year End Fair Value of Equity Awards Granted in Any Prior Year that Fail to Meet Applicable Vesting Conditions During Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount 0 0 0 (106,362) 0
Non-PEO NEO | Dividends or Other Earnings Paid on Equity Awards not Otherwise Reflected in Total Compensation for Covered Year          
Pay vs Performance Disclosure          
Adjustment to Compensation, Amount $ 0 $ 0 $ 0 $ 422 $ 0