Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(c) The Board of Directors of Integer Holdings Corporation (the "Company") has appointed Diron Smith, who currently serves as the Company's Vice President and Interim Chief Financial Officer, as the Executive Vice President and Chief Financial Officer ("CFO") of the Company, effective October 9, 2023. This appointment followed an internal and external search for candidates.
Mr. Smith, age 50, joined the Company in August of 2021. Prior to joining the Company, Mr. Smith served in various finance roles at Tiffany & Co., including VP, Finance Officer, Americas from January 2021-August 2021, VP, Finance Officer, Global Supply & Distribution from October 2017-January 2021 and Senior Director Finance, Global Jewelry Supply from March 2016-October 2017. Prior to joining Tiffany, Mr. Smith worked in finance at General Electric for 15 years and as an auditor at KPMG for five years.
In connection with his employment as CFO, Mr. Smith will receive an annual base salary of $440,000, annual eligibility under the Company's short term cash incentive plan equal to 70% of his annual salary at target and 200% of his annual target at maximum payout, annual long term incentive grants with a grant date value of $1,200,000, and he will be eligible to participate in the Company's health, profit sharing, retirement and other benefit plans and programs generally offered to its executives.
No family relationships exist between Mr. Smith and any of the Company's directors or other executive officers. There are no other arrangements between Mr. Smith and any other person pursuant to which Mr. Smith was selected as an officer, nor are there any transactions to which the Company is or was a participant and in which Mr. Smith has a material interest subject to disclosure under Item 404(a) of Regulation S-K.