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    Geoffrey S. Martha

    Chairman and Chief Executive Officer at Medtronic PLC
    Board
    Since April 27, 2020
    Age
    54 years
    Tenure
    Joined MDT’s Board of Directors in November 2019, served as President until April 2020 before being appointed CEO on April 27, 2020 and later as Chairman on December 11, 2020.

    Also at Medtronic PLC

    GC
    Gary Corona
    Interim Chief Financial Officer
    IKF
    Ivan K. Fong
    EVP, General Counsel, and Corporate Secretary
    MM
    Michael Marinaro
    EVP and President, Medical Surgical Portfolio

    About

    Currently, the Chairman and Chief Executive Officer of Medtronic plc, the world’s largest medical technology company, assumed responsibility as CEO on 04-27-2020 following a key period as President after joining the board in 11-2019.

    Over an extensive career, significant leadership roles at Medtronic were complemented by earlier positions at GE Healthcare and GE Capital, where valuable strategic expertise was developed. This progression of roles underscores a deep commitment to advancing healthcare innovation and corporate transformation.

    Beyond the boardroom, a passion for hockey has been a defining personal characteristic, highlighted by a past as the captain of the Penn State Men’s hockey team and subsequent induction into its Hockey Hall of Fame, reflecting leadership and dedication both on and off the field.

    $MDT Performance Under Geoffrey S. Martha

    Past Roles

    OrganizationRoleDate RangeDetails
    Medtronic President of Medtronic November 2019 - April 2020 Held prior to his appointment as Chairman and CEO
    Medtronic Executive Vice President and President, Restorative Therapies Group Since August 2015 until transition to CEO Position held before becoming Chairman and CEO
    Medtronic Senior Vice President of Strategy and Business Development Medtronic, Inc.: Since August 2011; Medtronic plc: Since January 2015 Combined role details for both Medtronic entities
    General Electric (GE) Healthcare Managing Director of Business Development April 2007 - July 2011 Role held at GE Healthcare
    General Electric (GE) Capital General Manager, Technology Finance Services November 2003 - March 2007 Role held at GE Capital
    General Electric (GE) Capital Senior Vice President, Business Development for Vendor Financial Services February 2002 - October 2003 Role held at GE Capital
    General Electric (GE) Capital General Manager, Colonial Pacific Leasing February 2001 - January 2002 Role held at GE Capital
    General Electric (GE) Capital Vice President, Business Development for Potomac Federal May 1998 - January 2001 Potomac Federal is the GE Capital federal financing investment bank

    External Roles

    OrganizationRoleDate RangeDetails
    Business Roundtable Active Member N/A N/A
    World Economic Forum’s International Business Council Active Member N/A N/A
    U.S.-China Business Council Board of Directors N/A N/A
    AdvaMed Treasurer N/A N/A
    Asia Society Board of Trustees N/A N/A
    Minnesota Business Partnership President, Executive Committee of the Board of Directors N/A N/A

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,350,000AnnualFixed annual salary; no merit increase in 2024
    All Other Compensation$305,496AnnualIncludes Perquisites and Other Personal Benefits: $223,146 (business allowance $40,000; personal use of company aircraft $182,870; employee program $276) and Company Contributions: $82,350 (qualified PIA $16,500; nonqualified PIA $51,000; MCC $14,850)

    Performance Compensation

    Data from  FY 2024

    Medtronic Incentive Plan (MIP)

    MetricValueDetails
    Threshold$1,012,500Minimum performance level
    Target$2,025,000Target performance level
    Maximum$4,050,000Cap on performance payout
    MIP Payout$1,905,272Achieved payout at 94% multiplier
    Target % of Base150%Based on base salary
    Evaluation PeriodFY24Performance evaluated over fiscal year 2024

    Performance Share Units (PSU)

    MetricValueDetails
    Threshold Shares42,731Minimum shares required
    Target Shares85,461Target number of shares
    Maximum Shares170,922Maximum possible shares
    Grant DateJuly 31, 2023Grant date
    Grant Date Fair Value$9,023,827Fair value at grant date
    Vesting Schedule3-year cliffVests in 2026 contingent on continued service
    Performance MetricsrTSR, Revenue Growth, ROICMetrics used to determine final award
    Award Range0% to 200%Final award range based on performance

    Stock Options (OPT)

    MetricValueDetails
    Number of Options240,691Total options granted
    Grant DateJuly 31, 2023Grant date
    Grant Date Fair Value$4,499,959Fair value at grant date
    Exercise Price$87.76 per sharePrice at grant date
    Vesting Schedule25% annually over 4 yearsTime-based vesting schedule

    Restricted Stock Units (RSU)

    MetricValueDetails
    Number of RSUs34,185RSUs granted
    Grant DateJuly 31, 2023Grant date
    Grant Date Fair Value$3,000,076Fair value at grant date
    Grant Date Stock Price$87.76Stock price at grant date
    Vesting Schedule3-year cliffVests on July 31, 2026, subject to continued service
    NotesNot performance-basedTime-based award with dividend equivalent units