Daniel Lippis
Edwards LifesciencesAbout Daniel Lippis
Edwards Lifesciences executive since 2010, Daniel J. Lippis (age 49) was promoted to Corporate Vice President responsible for Transcatheter Aortic Valve Replacement (TAVR) effective September 1, 2025, after serving as Corporate Vice President, JAPAC (Japan, Greater China and Asia Pacific) since January 2024 . He previously led THV marketing and the global launch/adoption of TAVR and the SAPIEN platforms, and most recently led Europe THV with expanded EMEACLA operations/regulatory responsibilities in 2022 . Company performance context during his leadership tenure includes 2024 sales of $5.4B (+9% underlying) and PBRSUs paying 117.11% for the 2021–2024 TSR cohort, indicating execution against growth and relative TSR goals . In 2Q25, he adopted a Rule 10b5-1 trading plan to potentially sell 7,134 shares from November 3, 2025 through May 1, 2026, an important data point for assessing near-term insider selling pressure .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Edwards Lifesciences | Corporate Vice President, TAVR | Effective Sept 1, 2025 | Assumes leadership of flagship TAVR franchise following group president transition; aligns to continued global TAVR expansion priorities . |
| Edwards Lifesciences | Corporate Vice President, JAPAC (Japan, Greater China and Asia Pacific) | Since Jan 2024 | Regional P&L and go-to-market leadership across key growth geographies . |
| Edwards Lifesciences | Senior VP, Europe THV; expanded to EMEACLA ops and regulatory (2022) | Through 2022 | Drove sustained TAVR growth in a mature market; built high-touch field org; expanded to broader regional operations/regulatory . |
| Edwards Lifesciences | THV Marketing Lead (US/global) | From 2010 | Oversaw successful TAVR/SAPIEN launches and therapeutic adoption globally . |
| Biosense Webster (J&J) | Sales/marketing leadership | 2007–2010 | Electrophysiology-focused commercial leadership experience . |
| Johnson & Johnson | Sales/marketing leadership | 2003–2007 | Cardiovascular commercial roles with increasing responsibility . |
| Cordis Corporation | Sales/marketing leadership | 2001–2003 | Early cardiovascular device commercial roles . |
External Roles
- Not disclosed in company filings for Mr. Lippis .
Fixed Compensation
- Individual base salary, target bonus %, and actual bonus for Mr. Lippis are not disclosed (he is not a Named Executive Officer in the proxy). Edwards states base salary is set using competitive data, responsibilities, performance, and internal equity for executives broadly .
- Annual cash incentive funding for corporate employees in 2024 was 99% of target (80% financial x 124% KODs, with individual performance overlays) .
Performance Compensation
Annual Cash Incentive Design (Company Framework)
| Element | Detail | 2024 Outcome |
|---|---|---|
| Financial measures and weights | Revenue growth (50%); Adjusted EPS (30%); Adjusted Free Cash Flow (20%) . | Financial achievement: 80% of target . |
| Strategic imperatives (KODs) | Quantified milestones tied to growth/leadership priorities across TAVR, TMTT, Surgical, culture/innovation . | KOD achievement: 124% of target . |
| Funding formula | Financial x KODs x individual objectives . | Corporate plan funded at 99% of target for 2024 . |
Long-Term Incentive (Company Framework)
| Vehicle | Target Mix | Vesting/Performance | Change-in-control treatment |
|---|---|---|---|
| Stock Options | 50% of LTI grant value . | 7-year term; vests 25% annually over 4 years (or monthly over 36 months if retirement-eligible) . | Double-trigger or award termination in the transaction; no single-trigger acceleration . |
| RSUs | 25% of LTI grant value . | 25% annually over 4 years . | Double-trigger or award termination in the transaction; no single-trigger acceleration . |
| PBRSUs (TSR) | 25% of LTI grant value . | 0–175% payout based on 3-year relative TSR vs a subset of SPSIHE; death/disability continue; retirement pro-rata . | Double-trigger at target if termination occurs and CIC during performance period, or if awards are terminated; no single-trigger . |
Recent Performance/Payout Signal (TSR PBRSUs)
| PBRSU Cohort | Performance Period | Relative TSR vs SPSIHE Subset | Payout |
|---|---|---|---|
| 2021 grant | May 2021 – Apr 2024 | +1.71 percentage points above median . | 117.11% of target . |
Equity Ownership & Alignment
Ownership Policy, Hedging/Pledging
- Executives are subject to stock ownership guidelines and holding requirements; disclosed levels are 6x salary for CEO and 3x for other NEOs; 50% of net shares must be retained until in compliance. The company prohibits pledging and hedging by directors, Section 16 officers, and the executive leadership team .
- The proxy also notes all NEOs either meet guidelines or comply with holding requirements as of filing; no pledging/hedging by NEOs to the company’s knowledge .
Rule 10b5-1 Trading Plan (Insider Selling Pressure Indicator)
| Insider | Plan Date | Shares in Plan | Sales Window | Termination |
|---|---|---|---|---|
| Daniel J. Lippis (CVP, JAPAC at adoption) | July 30, 2025 | 7,134 shares | Commencing Nov 3, 2025 | Earlier of May 1, 2026 or all shares sold . |
Implication: A pre-arranged plan to sell 7,134 shares could create modest, programmatic selling pressure during the window; these plans provide an affirmative defense if executed while not in possession of MNPI .
Employment Terms
Change-in-Control (CIC) Economics (Company-Standard; applies to NEOs and “certain other executives”)
- Eligibility window: from 6 months prior to through 24 months after a CIC; qualifying termination includes involuntary termination without cause or resignation for good reason .
- Benefits: lump sum of 2x base salary; 2x Incentive Pay Objective (or prior-year actual if higher); pro-rated bonus for year of termination; accelerated vesting of unvested LTI; continued medical/dental for 3 years; reasonable outplacement; no excise tax gross-ups (best-net cutback) .
- Equity acceleration: no single-trigger; double-trigger acceleration or if awards are terminated in the transaction .
Non-CIC Severance Plan (Company-Standard)
- For eligible U.S. executives, cash severance equals 1.5x monthly compensation plus 4% of monthly compensation per whole month of service, capped at 2x prior 12 months’ compensation; conditioned on release; superseded by CIC agreement if both apply .
Clawback
- Company maintains a recoupment policy for incentive-based compensation (Dodd-Frank compliant) .
Performance & Track Record
- Leadership and value creation: As THV marketing lead and later European THV leader, Lippis “oversaw the successful launches and therapeutic adoption of TAVR and the SAPIEN valve platforms” globally, and built a high-touch field organization in Europe; responsibilities expanded across EMEACLA operations and regulatory in 2022 .
- Promotion to lead TAVR: Elevated to CVP, TAVR effective Sept 1, 2025, following the prior leader’s resignation—signaling confidence in his execution to sustain growth in the core franchise .
- Company performance backdrop: 2024 sales $5.4B (+9% underlying), with notable clinical and portfolio milestones; PBRSUs paid above target for the 2021–2024 TSR cycle (117.11%) .
Investment Implications
- Compensation alignment: High at-risk mix linked to revenue, EPS, FCF, strategic KODs, and multi-year relative TSR suggests strong pay-performance alignment for EW executives generally; equity awards vest over multi-year horizons with double-trigger CIC protection and clawback, supporting longer-term orientation .
- Retention and transition risk: Lippis’ promotion to TAVR leadership mitigates succession risk following the prior leader’s announced departure; standard CIC and severance frameworks plus ownership/holding requirements further support retention incentives .
- Trading signal: The 10b5-1 plan to sell 7,134 shares creates scheduled selling that may modestly pressure supply during the plan window; absence of pledging/hedging and the presence of ownership/holding rules reduce misalignment risk .
- Execution focus: His track record in launching/adopting TAVR and SAPIEN, and regional scale experience, aligns with EW’s core growth driver; corporate 2024 performance and above-target TSR PBRSU payout underscore execution momentum into his TAVR tenure .
Appendix: Role References in 2025 Communications
- Press statements attribute “corporate vice president, transcatheter aortic valve replacement” to Dan Lippis in October–November 2025 communications, consistent with his new role .