Trent Kamke
About Trent Kamke
Trent G. Kamke is Senior Vice President, Operations at LeMaitre (LMAT), a role he has held since 2005; he joined the company in 1997 as Quality Assurance Manager and served as Vice President, Operations from 1999–2005 . He is 54 years old as of April 1, 2025, and holds a B.A. in Physics from Colby College and a B.E. from Dartmouth’s Thayer School of Engineering . Company performance during 2022–2024: revenues grew from $161.7M to $219.9M and net income from $20.6M to $44.0M; EBITDA increased from $39.4M to $61.9M* [FY 2022–FY 2024 table below; Revenues and Net Income citations; EBITDA values retrieved from S&P Global].
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | 161,651,000 | 193,484,000 | 219,863,000 |
| Net Income ($USD) | 20,636,000 | 30,105,000 | 44,038,000 |
| EBITDA ($USD) | 39,369,000* | 46,712,000* | 61,926,000* |
| YoY Revenue Growth (%) | — | 19.7% (calc) | 13.6% (calc) |
| YoY Net Income Growth (%) | — | 45.9% (calc) | 46.2% (calc) |
*Values retrieved from S&P Global
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| LeMaitre | Senior Vice President, Operations | 2005–present | Led manufacturing and operational efficiency; supported revenue growth and margin expansion |
| LeMaitre | Vice President, Operations | 1999–2005 | Built operations capability ahead of growth phase |
| LeMaitre | Quality Assurance Manager | 1997–1999 | Established quality systems supporting regulated devices |
| Haemonetics Corporation | Operations/Quality (employee) | pre-1997 | Experience in automated blood processing; relevant to medical device manufacturing |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Haemonetics Corporation | Employee (medical devices) | pre-1997 | Domain expertise leveraged at LeMaitre |
Fixed Compensation
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Base Salary ($) | 283,080 | 301,480 | 316,554 |
| Bonus ($) | — | 13,250 | 17,000 |
| All Other Compensation ($) | 9,150 | 9,900 | 10,350 |
| Total Cash ($) | 292,230 (calc) | 324,630 (calc) | 343,904 (calc) |
| Cash Compensation Plan Targets | 2023 | 2024 | 2025 |
|---|---|---|---|
| Annual Salary ($) | 301,480 | 316,554 | 383,818 |
| Annual Bonus at Plan ($) | 117,242 | 123,690 | 149,261 |
| Fixed vs Variable (Cash %) | 72% / 28% (NEOs incl. Kamke) | 72% / 28% (NEOs incl. Kamke) | — |
Performance Compensation
| Year | Metric | Weighting | Target | Actual | Payout ($) | Vesting |
|---|---|---|---|---|---|---|
| 2024 | Operational metrics (departmental goals) | Predominantly operational for Kamke | Not disclosed | Not disclosed | 150,800 (non-equity incentive) | Cash bonus; N/A |
| 2023 | Operational metrics (departmental goals) | Predominantly operational for Kamke | Not disclosed | Not disclosed | 120,750 (non-equity incentive) | Cash bonus; N/A |
Equity awards design and vesting:
- Options/RSUs: equal annual vesting over four years .
- PSUs: initial vest contingent on operating income performance (target 100%; 80–120% sliding scale), then 25% vests at determination and remaining 75% annually on next three anniversaries .
| Equity Grants (Kamke) | Grant Date | Type | Shares (#) | Grant Date Fair Value ($) | Vesting |
|---|---|---|---|---|---|
| 2024 | RSUs | 5,321 | 187,500 | 25% vests 12/6/2025; 25% annually thereafter | |
| 2024 | PSUs | Threshold 742; Target 927; Max 1,112 | Included in above | Initial vest based on 2025 operating income; then annual | |
| 2023 | RSUs | 5,398 | 112,500 | Equal annual over ~4 years | |
| 2023 | PSUs | Threshold 823; Target 1,029; Max 1,235 | Included in above | 25% at determination; then annual |
2024 exercises/vesting realized:
| 2024 Activity | Shares | Value ($) |
|---|---|---|
| Options exercised | 3,669 | 135,085 |
| Stock awards vested | 1,789 | 170,132 |
Equity Ownership & Alignment
| As of | Beneficial Shares | Ownership % | Options Exercisable within 60 Days | Notes |
|---|---|---|---|---|
| Mar 5, 2025 | 25,528 | <1% | 19,964 | Insiders prohibited from hedging; Rule 10b5-1 plans permitted |
| Mar 5, 2024 | 25,679 | <1% | 16,576 | — |
Trading/pledging policies:
- Hedging prohibited; trading under Rule 10b5-1 plans allowed with cooling-off periods (company policy) .
- No explicit pledging policy disclosed in proxy materials .
Recent Form 4 activity (insider selling pressure):
| Date | Action | Shares | Price ($) | Source |
|---|---|---|---|---|
| 03/12/2025 | Sale | 2,009 | 82.12 | |
| 03/13/2025 | Sale | 4,020 | 79.589 | |
| 03/13/2025 | Sale | 500 | 80.2514 | |
| 03/12–03/14/2025 | Option exercises (multiple strikes) | 2,009; 1,353; 127; 1,229 | $23.56; $35.48; $48.60; $37.29 | |
| 02/28/2025 | PSU settlement & dividend equivalents (acquisitions) | 2 (DER); PSU settlement (shares) | $0 (DER) | |
| 05/29/2025 | Dividend equivalent rights (DER accruals on RSU/PSU grants) | multiple fractional DERs | $0 |
Employment Terms
- No individual employment agreement disclosed for Kamke; employment agreements and severance terms are disclosed only for LeMaitre (CEO), Pellegrino (former CFO), and Roberts (President) .
- Company Clawback Policy compliant with SEC Rule 10D-1 and Nasdaq listing standards; mandatory recovery of erroneously awarded incentive-based compensation from covered officers within a 3-year lookback upon a restatement .
- Insider Trading Procedures bar hedging; Rule 10b5-1 trading plans permitted subject to policy and cooling-off periods .
Compensation Structure Notes and Peer Context
- 2025 cash comp target moved to the 37th percentile of benchmarks; Kamke’s 2025 salary $383,818 and bonus at plan $149,261 .
- Senior VP, Operations compensation reviewed against third-party market data rather than the formal peer group used for CEO/President/CFO .
- Peer group for top NEOs included 18 medical device companies (e.g., Angiodynamics, Penumbra, ShockWave, Silk Road, Inari, CONMED, Integra) selected on revenue, operating income, market cap, and employee size comparability .
- 2024 say-on-pay approval exceeded 96% .
Investment Implications
- Alignment: Kamke’s incentives are predominantly tied to operational objectives; PSUs linked to operating income create direct alignment with margin execution and manufacturing efficiency goals . Recent company results show strong revenue and net income growth, supporting bonus payouts above target for financial metrics (though Kamke’s weighting is operational) .
- Retention risk: Long tenure (SVP since 2005) and multi-year vesting on options/RSUs/PSUs provide retention hooks; no disclosed personal severance agreement suggests standard at-will terms for Kamke .
- Selling pressure: March 2025 sales totaling several thousand shares around $80 coincided with option exercises; monitor future Form 4s for pattern persistence and whether sales occur under Rule 10b5-1 plans .
- Governance and risk: Hedging prohibited; no pledging policy disclosure; robust clawback policy reduces compensation restatement risk .