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Get filing alertsTeleflex names Jason Weidman as CEO, replacing interim chief effective June 8
Filed April 30, 2026 · Period ending April 28, 2026 · ~1 min read
Key Changes
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Jason Weidman, 51, appointed President and CEO effective June 8, 2026, replacing interim CEO Stuart Randle. Weidman joins from Medtronic where he led Coronary, Renal Denervation, Aortic, Peripheral and Venous divisions after 20 years with the company.
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New CEO receives $1M base salary, 125% target bonus (guaranteed at prorated target for 2026), and $7M annual equity awards starting 2027. Sign-on package includes $7M restricted stock (4-year vest) and $1M stock options (3-year vest).
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Change-of-control severance provides 36 months pay, 300% target bonus, and full equity acceleration if terminated without cause or resigns for good reason following acquisition—creating potential shareholder obligations in M&A scenarios.
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Company will pay up to $800K in December 2026 to replace Weidman's forfeited Medtronic compensation, plus extensive relocation benefits including 12 months temporary housing. Benefits must be repaid if he leaves voluntarily within three years.
Item 5.02 verify on EDGAR →
Summary
Teleflex has ended its CEO search by appointing Jason Weidman, a 20-year Medtronic veteran, as President and CEO starting June 8, 2026. Weidman most recently led multiple cardiovascular and vascular divisions at Medtronic, bringing deep medical device experience to the role. He replaces Stuart Randle, who served as interim CEO and will remain on the board.
The compensation package is substantial but typical for a medical device company of Teleflex's size: $1 million base, 125% target bonus, $7 million annual equity, plus $8 million in sign-on awards. The company is also making Weidman whole for forfeited Medtronic compensation with an $800,000 payment.
Change-of-control provisions are generous, potentially costing 36 months of pay plus full equity acceleration in an acquisition scenario. Investors should watch Weidman's first earnings call and any strategic announcements in his initial 90 days. Leadership transitions at medical device companies often precede portfolio reviews, M&A activity, or operational restructuring. The generous change-of-control terms suggest the board wants to ensure stability if acquisition discussions emerge.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
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Additionally, the Offer Letter provides for a sign-on restricted stock grant with a grant date fair value of $7 million (vesting in substantially equal installments on each of the first four anniversaries of the grant date) and a grant of stock options with a grant date fair value of $1 million (vesting in substantially equal installments on each of the first three anniversaries of the grant date).
Weidman receives sign-on equity awards totaling $8 million: $7 million in restricted stock vesting over four years and $1 million in stock options vesting over three years. These awards are subject to continued service through vesting dates except in certain termination scenarios.
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Pursuant to the Executive Change of Control Agreement, upon a termination by the Company
without cause or a resignation for good reason in connection with a change in control (as all such terms are defined in the agreement), subject to signing a release of claims, Mr. Weidman would be eligible to receive the same benefits (other than life and accident insurance) except that the Severance Period would be 36 months, and in addition be eligible to receive the following: if no bonus was awarded to him for the year prior to termination, a lump sum cash payment equal to his target bonus amount; a lump sum cash payment equal to 300% of the target bonus for the year of termination; employer contributions that he would have been credited for the year of termination (or, if higher, the year in which the change of control occurs) under the Company’s Deferred Compensation Plan if he participates in such plan; and acceleration of all unvested Company stock options and restricted stock.
In a change of control scenario followed by termination without cause or resignation for good reason, Weidman receives 36 months of severance (versus 24 months in non-change-of-control terminations), 300% of target bonus, deferred compensation plan credits, and full acceleration of unvested equity. This represents standard executive protection but creates potential shareholder dilution and cash obligations in acquisition scenarios.
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Mr. Weidman is also eligible to receive (a) a cash payment of up to $800,000 payable on December 31, 2026 to replace forfeited incentive compensation from his prior employer; (b) relocation benefits, including temporary housing and rental car reimbursement for up to 12 months, reimbursement of travel expenses, primary home relocation cost reimbursements with tax equalization payments and up to $15,000 in other expenses
The company will pay Weidman up to $800,000 in December 2026 to replace forfeited compensation from Medtronic. Extensive relocation benefits include 12 months of temporary housing and rental car, travel expense reimbursement, home relocation costs with tax equalization, and up to $15,000 in other expenses. If Weidman leaves within three years for reasons other than company termination without cause or resignation for good reason, he must repay all relocation benefits.
Event · Item 9.01 — Financial Statements and Exhibits
Teleflex filed an 8-K attaching a press release dated April 30, 2026; no material event details disclosed in the body.
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99.1 Press Release, dated April 30, 2026
Without access to Exhibit 99.1, the nature and materiality of the disclosed event cannot be determined from this filing alone.
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Figures/quotes linked to EDGAR · Narrative written by AI · Jun 2, 2026 · How we verify