ZIMMER BIOMET HOLDINGS, INC. 8-K

What Happened

• Zimmer Biomet Holdings, Inc. announced that Suketu Upadhyay resigned as Chief Financial Officer and Executive VP — Finance, Operations and Supply Chain, effective April 28, 2026, to pursue a new professional opportunity. The company said his departure was not due to any disagreement over financial reporting, controls, operations, policies or practices.
• Paul Stellato, Vice President, Controller and Chief Accounting Officer, age 51, has been named interim Chief Financial Officer effective April 28, 2026 while the company searches for a permanent successor. Stellato will serve as the company’s principal financial and accounting officer in addition to his current duties.

Key Details

• Resignation date: Suketu Upadhyay effective April 28, 2026.
• Interim CFO: Paul Stellato (current VP, Controller & Chief Accounting Officer; with Zimmer Biomet since May 2022).
• Interim pay package: prorated annual base salary of $550,000 and a 2026 target bonus equal to 70% of base salary (prorated), subject to EPIP performance goals.
• Equity awards: on May 1, 2026 Stellato will receive RSUs with a grant-date fair value of ~$750,000 vesting ratably over 3 years, plus PRSUs with a grant-date fair value of ~$100,000 with performance and vesting terms aligned to the company’s February 2026 PRSU awards.

Why It Matters

• A CFO change is material for investors because it affects financial leadership and continuity in reporting and planning. Zimmer Biomet named an experienced internal successor on an interim basis, which supports near-term continuity in accounting and finance functions.
• Compensation and equity grants for the interim CFO align his incentives with company performance and retention through transition, and the company is conducting a search for a permanent CFO.