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    Gary R. Maharaj

    President and Chief Executive Officer at Surmodics Inc
    Board
    Since December 2010
    Age
    61 years
    Tenure
    Joined Surmodics, Inc. in December 2010 as President and Chief Executive Officer and was appointed to the Board of Directors at that time.

    Also at Surmodics Inc

    CWO
    Charles W. Olson
    Senior Vice President and President, Medical Device Coatings
    GSW
    Gordon S. Weber
    Senior Vice President of Legal, General Counsel, Secretary
    JJS
    Joseph J. Stich
    Senior Vice President of HR and President, In Vitro Diagnostics

    About

    Gary R. Maharaj has been the driving force behind Surmodics, Inc. since December 2010, when he joined the company as President and Chief Executive Officer and was simultaneously appointed to its Board of Directors. His leadership has steered the company towards innovative medical device solutions, specifically focusing on proprietary surface modification and drug-delivery coating technologies that improve the detection and treatment of disease.

    Prior to his tenure at Surmodics, he held significant leadership roles in the medical device industry. He served as President and CEO of Arizant Inc. from 2006 to 2010, and before that, he held senior-level management roles at Augustine Medical, Inc. as well as various management and research positions at Smith & Nephew, PLC. With over 35 years of experience in the field, his extensive background spans marketing, research and development, and executive leadership.

    While specific details regarding his personal background and education are not available, his professional journey highlights a well-established commitment to innovation and excellence in the medical device sector. His career progression and focus on addressing unmet clinical needs underscore a deep expertise and passion that continues to drive advancements at Surmodics.

    $SRDX Performance Under Gary R. Maharaj

    Past Roles

    OrganizationRoleDate RangeDetails
    Arizant Inc. President and Chief Executive Officer 2006 to 2010 Provider of patient temperature management systems used in hospital operating rooms.
    Augustine Medical, Inc. Vice President of Marketing; Vice President of Research and Development 1996 to 2006 Predecessor to Arizant Inc.
    Smith & Nephew, PLC Various management and research positions N/A Worked in the orthopedic implant and rehabilitation divisions; global leader in advanced surgical devices and wound care products.

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$647,481 AnnualFixed base salary for fiscal year 2024.
    All Other Compensation$13,800 AnnualIncludes 401(k) matching contributions and amounts received under other benefit plans available to all employees.

    Performance Compensation

    Data from  FY 2024

    Non-Equity Incentive Plan Compensation

    Metric (US$ millions)Value
    Threshold$115.1M
    Target$121.1M
    Maximum$130.2M
    Actual Performance$126.1M
    Achievement127%

    Strategic Objectives (Weight: 40% )

    • Achievement details: Preside hydrophilic coating studies: 150% , Pounce venous thrombectomy system: 100% , Pounce LP arterial thrombectomy system: 150% , Sublime microcatheter launch: 100%
    • Overall Strategic Achievement: 125%

    Overall Weighting: Corporate Financial Objective: 60% , Strategic Objectives: 40%

    Payout Details

    Payout ComponentPercentage of Base SalaryAmount
    Target Incentive Opportunity80% $516,000
    Actual PayoutN/A$654,215

    Evaluation & Vesting:

    • Evaluation Period: Fiscal Year 2024
    • Vesting: Immediate payout upon determination of performance results

    Target Incentive Opportunity (Part of the Performance Compensation Framework)

    ComponentDetail
    Base Salary$645,000
    Target Incentive$516,000
    Actual Payout$654,215
    Performance MetricsCorporate Revenue with thresholds: $115.1M (threshold), $121.1M (target), $130.2M (max)

    *Note: The performance compensation is calculated based on both corporate financial and strategic objectives with detailed achievement percentages and a target payout mechanism that results in an overall actual payout of $654,215 for fiscal year 2024. *