LEMAITRE VASCULAR INC (LMAT)
Sector: Health Care
2026 Annual Meeting Analysis
LEMAITRE VASCULAR INC · Meeting: June 2, 2026
Directors FOR
2
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Roberts has served on the board since 2001 and as President since 2007, bringing deep operational and industry knowledge; LMAT's 3-year price return of 126.7% outpaces the IHI medical devices ETF by approximately 110 percentage points, far exceeding the 65-point threshold required to trigger a performance-based concern, and no overboarding, attendance, independence, or familial relationship issues are present.
Roush has served since 2014 and brings over 20 years of medical device and life sciences executive experience; the same strong stock performance analysis applies — LMAT's 3-year outperformance versus IHI of approximately 110 percentage points does not trigger the performance threshold, and no overboarding, attendance, independence, or familial relationship concerns are present.
Both director nominees pass all policy screens. LMAT's stock has returned 126.7% over three years compared to the IHI medical devices ETF's 16.5%, a gap of approximately 110 percentage points that comfortably clears the 65-point threshold required for the strong-positive-TSR tier — meaning the TSR trigger does not fire for any director. No overboarding, attendance, independence, or familial relationship issues were identified for either nominee.
Say on Pay
✓ FORCEO
George W. LeMaitre
Total Comp
$3,780,990
Prior Support
95%%
CEO total compensation of $3,780,990 is reasonable for a medical device company with a $2.7 billion market cap that delivered 14% revenue growth, 30% operating income growth, and a 126.7% three-year stock return — strong pay-for-performance alignment. The pay program includes meaningful performance-based components: 50% of equity awards are stock options, 25% are performance stock awards tied to operating income targets, and 25% are time-vesting restricted stock units, and the company disclosed a clawback policy compliant with SEC and Nasdaq rules. Shareholders overwhelmingly approved compensation at the prior annual meeting with over 95% support, and the Compensation Committee made no material changes to a structure that is already well-aligned with shareholder outcomes.
Auditor Ratification
✓ FORAuditor
Grant Thornton LLP
Tenure
N/A
Audit Fees
$1,443,000
Non-Audit Fees
$0
Grant Thornton charged $1,443,000 in audit fees for 2025 with zero non-audit fees of any kind, so the non-audit fee ratio is 0% — well below the 50% threshold that would raise independence concerns. Auditor tenure is not disclosed in the proxy so the tenure trigger cannot fire per policy. Grant Thornton is a large national firm appropriate for a company of LMAT's size. No restatements or other concerns were identified.
Overall Assessment
LeMaitre Vascular's 2026 annual meeting presents a clean ballot with no significant governance or compensation concerns — all three proposals are supported under the applicable policy screens. The company's exceptional stock performance (126.7% three-year return versus 16.5% for the IHI medical devices ETF), disciplined pay structure with meaningful performance-based equity, and clean auditor fee profile with zero non-audit fees collectively support FOR votes across all three proposals.