Lucas Vitale Joins Orthofix as Chief People and Business Operations Officer

LEWISVILLE, Texas, March 18, 2024–(BUSINESS WIRE)–Orthofix Medical Inc. (NASDAQ:OFIX), a number one world spine and orthopedics firm, at the moment introduced that Lucas Vitale has joined the corporate within the newly created position of Chief Individuals and Enterprise Operations Officer.

Vitale most just lately served because the Chief Human Sources Officer (CHRO) at ReNAgade Therapeutics, a enterprise backed pharmaceutical firm, and previous to that, he served because the CHRO at Berkeley Lights/PhenomeX, a life sciences instruments and providers firm acquired by Bruker.

Vitale brings in depth spine and orthopedics expertise having served because the CHRO at NuVasive, Inc., a publicly traded medical gadget firm, the place he led the worldwide HR technique for the corporate’s roughly 2,700 staff. At NuVasive he performed an integral position in mergers and integrations, oversaw key business expertise improvement efforts, and formalized the corporate’s Range, Fairness and Inclusion program.

“We’re happy to welcome Lucas to our government management workforce,” mentioned Massimo Calafiore, President and Chief Govt Officer of Orthofix. “On this pivotal position, he’ll lead the corporate’s ongoing integration and enterprise transformation methods as we proceed to strengthen our infrastructure to help future development.”

“I’m excited by the continued alternatives to carry Orthofix and SeaSpine collectively,” mentioned Lucas Vitale, Chief Individuals and Enterprise Operations Officer. “I stay up for being part of the workforce that can assist additional advance the corporate as we concentrate on steady enhancements to higher serve our surgeon prospects and their sufferers.”

About Lucas Vitale

Earlier in his profession, Vitale held a number of management roles at Life Applied sciences in positions masking numerous features of HR, together with mergers, acquisitions and integrations, expertise administration, management improvement, and establishing tradition and variety initiatives.

Vitale earned a Bachelor of Science in Enterprise Administration from Hawaii Pacific College and a Grasp of Arts in Industrial/Organizational Psychology from Alliant Worldwide College.

As an inducement to enter into employment with Orthofix, Vitale was granted (i) performance-based vesting restricted inventory models that settle 65,502 shares of frequent inventory at goal achievement, (ii) time-based vesting restricted inventory models that settle into 32,751 shares of frequent inventory, (iii) cliff vesting restricted inventory models that settle into 87,336 shares of frequent inventory and (iv) inventory choices to buy 75,432 shares of frequent inventory. The performance-based vesting restricted inventory models vest on the finish of a three-year efficiency interval based mostly on the Firm’s complete stockholder return relative to an trade peer group index throughout such interval, whereas the time-based vesting restricted inventory models vest in equal tranches over three years. The cliff vesting restricted inventory models will vest in a single cliff on the third anniversary of the grant date. The inventory choices vest upon achievement of each service- and performance-based standards, whichever is the later of (a) the date sure service-based situations are met (which can be met over three years) and (b) the date that the common closing worth of the Firm’s frequent inventory over a one-month calendar interval has been equal to or nice than 150% of the closing worth of the Firm’s frequent inventory on the grant date. The grants, which had been authorized by Orthofix’s Board of Administrators, had been made beneath standalone inducement award agreements authorized pursuant to NASDAQ Market Rule 5635(c)(4).

About Orthofix

Orthofix is a number one world spine and orthopedics firm with a complete portfolio of biologics, revolutionary spinal {hardware}, bone development therapies, specialised orthopedic options, and a number one surgical navigation system. Its merchandise are distributed in additional than 60 nations worldwide.

The Firm is headquartered in Lewisville, Texas, the place it conducts normal enterprise, product improvement, medical schooling and manufacturing, and has main places of work in Carlsbad, CA, with a concentrate on spine and biologics product innovation and surgeon schooling, and Verona, Italy, with an emphasis on product innovation, manufacturing, and medical schooling for orthopedics. The mixed Firm’s world R&D, business and manufacturing footprint additionally contains services and places of work in Irvine, CA, Toronto, Canada, Sunnyvale, CA, Wayne, PA, Olive Department, MS, Maidenhead, UK, Munich, Germany, Paris, France and São Paulo, Brazil.

Ahead-Trying Statements

This information launch could embody forward-looking statements inside the that means of Part 21E of the Securities Change Act of 1934, as amended, and Part 27A of the Securities Act of 1933, as amended. In some instances, you possibly can determine forward-looking statements by terminology reminiscent of “could,” “will,” “ought to,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “initiatives,” “intends,” “predicts,” “potential,” “proceed” or different comparable terminology. Orthofix cautions you that statements included on this information launch that aren’t an outline of historic info are forward-looking statements which are based mostly on the Firm’s present expectations and assumptions. Every forward-looking assertion contained on this information launch is topic to dangers and uncertainties that might trigger precise outcomes to vary materially from these expressed or implied by such assertion. Relevant dangers and uncertainties embody, amongst others: the power of newly launched merchandise to carry out as designed and supposed and to fulfill the wants of surgeons and sufferers, together with because of the dearth of sturdy scientific validation; and the dangers recognized beneath the heading “Danger Elements” in Orthofix Medical Inc.’s Annual Report on Type 10-Ok for the fiscal 12 months ended December 31, 2022, which was filed with the Securities and Change Fee (SEC) on March 6, 2023. The Firm’s public filings with the Securities and Change Fee can be found at www.sec.gov. You might be cautioned to not place undue reliance on forward-looking statements, which communicate solely as of the date when made. Orthofix doesn’t intend to revise or replace any forward-looking assertion set forth on this information launch to mirror occasions or circumstances arising after the date hereof, besides as could also be required by regulation.