Daveen Chopra - Corporate Vice President, Transcatheter Mitral and Tricuspid Therapies | Edwards Lifesciences (EW) Executive Profile & Compensation

About Daveen Chopra

Daveen Chopra, age 46, is Corporate Vice President, Transcatheter Mitral and Tricuspid Therapies (TMTT) at Edwards Lifesciences, a role he has held since January 2023 after serving as Corporate Vice President, Surgical Structural Heart from May 2018 to January 2023 . In 2024, Chopra’s business exceeded targeted revenue goals with nearly 80% growth and advanced clinical outcomes and commercial launches across the U.S. and Europe . Company incentive metrics were anchored on underlying revenue growth (8.9%), adjusted EPS ($2.76), and adjusted free cash flow ($1,362M), driving a 99% funding outcome when combined with KOD achievement (124%) . Long-term equity is tied to relative TSR via PBRSUs; the 2021 PBRSUs paid at 117.11% of target based on TSR 1.71 percentage points above the median of a comparator subset through April 30, 2024 .

Past Roles

Organization	Role	Years	Strategic Impact
Edwards Lifesciences	Corporate Vice President, TMTT	Jan 2023–present	Leads TMTT strategy and execution; exceeded targeted 2024 revenue goals with nearly 80% growth; successful clinical outcomes; progress in commercial launches in the U.S. and Europe .
Edwards Lifesciences	Corporate Vice President, Surgical Structural Heart	May 2018–Jan 2023	Senior leadership across strategy, marketing, commercial operations, R&D, and program management in Surgical Structural Heart .
Medtronic	VP & GM, Aortic Franchise; various leadership roles	2005–2018	Global leadership across strategy, marketing, commercial operations, R&D, and program management, culminating in Aortic franchise leadership .
The Parthenon Group	Strategy Consultant	Pre-2005	International strategy consulting across industries (education to industrial manufacturing) .

External Roles

Organization	Role	Years
CEO Leadership Alliance of Orange County	Board member	Current
Edwards Lifesciences Foundation	Board member	Prior
Octane OC	Board member	Prior

Fixed Compensation

Item	2024 Amount	Notes
Annual base salary (rate)	$630,000	Salary level approved for 2024.
Salary (Summary Compensation Table)	$627,346	Actual SCT salary; includes deferrals.
Target annual bonus (Incentive Pay Objective)	$535,000	Maximum payout equals 200% of target ($1,070,000) .
Actual non-equity incentive paid	$556,133	Paid in March 2025; corporate plan funded at 99% .
All Other Compensation (breakdown)	$53,779 total	401(k) match $17,250; EDCP company contribution $32,446; officer perqs $4,083 .
Salary deferred to EDCP	$38,935	Executive Deferred Compensation Plan deferral.

Performance Compensation

Annual Cash Incentive – 2024 Metrics and Outcomes

Metric	Weight	Minimum	Target	Maximum	Actual	Outcome Context
Underlying Revenue Growth	50%	4%	11.5%–12%	19%	8.9%	Financial achievement multiplier: 80%; KOD multiplier: 124%; Combined funding: 99% .
Adjusted EPS ($)	30%	$2.55	$2.85–$2.88	$3.18	$2.76	See above.
Adjusted Free Cash Flow ($M)	20%	$880	$1,380	$1,880	$1,362	Metric removed for 2025; new weights Rev 60% / EPS 40% .
Individual Performance Modifier	N/A	—	—	—	—	NEO payouts ranged from 84% to 104% of target; Chopra’s actual $556,133 ≈ 104% of his $535,000 target (calculated from disclosed values) .

2024 Equity Grants (Mix: 50% Options, 25% PBRSUs, 25% RSUs)

Type	Grant Date	Units	Exercise Price	Grant-Date Fair Value	Vesting Schedule
Stock Options	05/07/2024	37,200	$85.84/share	$1,198,733	25% annually over 4 years; 7-year term (non-retirement eligible) .
RSUs (time-based)	05/07/2024	7,000	—	$600,880	25% annually over 4 years .
PBRSUs (relative TSR)	05/07/2024	7,000 target	—	$683,620 (probable outcome)	3-year performance (4/30/2024–4/30/2027); 25%–175% payout vs SPSIHE Subset median TSR .

PBRSU Determination – 2021 Grant Paid in 2024

Performance Period	Relative TSR vs Median	Payout
May 2021–Apr 30, 2024	+1.71 percentage points	117.11% of target

Equity Ownership & Alignment

Ownership Detail	Shares/Units	Market/Value	Notes
Outstanding shares beneficially owned	13,294	—	As of January 31, 2025.
RSUs and shares underlying options (exercisable within 60 days)	78,475	—	As of January 31, 2025.
Total shares beneficially owned	91,769	—	Less than 1% of outstanding (587,864,897) .
Options – Exercisable	78,475	—	Aggregate across grants.
Options – Unexercisable	94,825	—	Aggregate across grants.
RSUs – Not Vested	14,289	$1,057,815	Market value disclosed.
PBRSUs – Unearned	19,175	$1,419,525	Market/payout value disclosed.
2024 Option Exercises	7,000 shares; $192,471 value realized	—	Value reflects sale price less exercise price .
2024 RSU/PBRSU Vesting	8,832 shares; $755,011 value realized	—	Value reflects closing price on day prior to vesting .
Ownership Guidelines	3x base salary for other NEOs	—	All NEOs meet or are in compliance; 50% holding of net shares until compliant .
Hedging/Pledging	Prohibited	—	Company states none of the NEOs engaged in hedging/pledging .

Employment Terms

Provision	Key Terms	Specific Amounts (Chopra)
Change-in-Control (Double Trigger)	Severance and equity acceleration only upon both a change-in-control and qualifying termination; awards may accelerate if terminated in the transaction .	Salary severance $1,260,000; bonus severance $1,070,000; pro rata bonus $533,538; RSU acceleration $1,057,704; PBRSU acceleration $1,419,525; medical/dental continuation $145,333; outplacement $50,000; total $5,536,100 .
Involuntary Termination (No CIC)	Cash severance only .	$244,650 .
Stock Options (material terms)	7-year term; exercise price at grant date fair market value; vesting 25% annually over 4 years (non-retirement eligible); post-termination exercise 90 days; death/disability accelerates unvested .	Applies to Chopra’s 2024 grant .
RSUs (material terms)	Vest 25% annually over 4 years; death/disability accelerates unvested; no automatic CIC acceleration (double trigger applies) .	Applies to Chopra’s 2024 grants .
Clawback	Recoupment policy for incentive-based compensation .	Company-wide policy applies.
Tax Gross-ups	No excise tax gross-ups; benefits may be reduced to avoid 4999 excise taxes .	Company-wide policy applies.
Deferred Compensation	EDCP participation; 2024 salary deferral $38,935; company EDCP contribution $32,446 .	See Fixed Compensation above.

Investment Implications

Pay-for-performance alignment: Chopra’s compensation is heavily performance-based—long-term equity mix weighted 75% to options and PBRSUs tied to absolute and relative TSR, with RSUs at 25%, reinforcing alignment with shareholder value creation .
Operating execution strength: TMTT delivered nearly 80% revenue growth in 2024 with successful clinical outcomes and commercial expansion, supporting above-target annual incentive outcomes (corporate plan funded at 99%; Chopra’s actual incentive exceeded target) .
Insider selling pressure: 2024 activity was modest—7,000 options exercised ($192,471 value realized) and 8,832 shares vested ($755,011 value realized), with robust unvested RSUs/PBRSUs and substantial unexercisable options remaining, indicating continuing vest-driven supply but limited realized sales to date .
Ownership and alignment safeguards: Beneficial ownership is <1% of the company, but strict stock ownership guidelines (3x salary, 50% net-share hold until compliant), explicit prohibitions on pledging/hedging, and an incentive clawback mitigate alignment and governance risks .
Contract economics and risk: Double-trigger CIC protection with total severance potential of ~$5.54M and no excise tax gross-ups limits windfall optics, while 2025 incentive metric changes (60% revenue/40% EPS) increase emphasis on profitable growth, potentially sharpening focus on margin-accretive execution .