−Removed: References within this Annual Report to “Tandem,” “we,” “our,” “us,” “management,” or the “Company” refer to Tandem Diabetes Care, Inc., together with its wholly-owned subsidiaries in the United States, Canada, the Netherlands, and Switzerland.
+Added: References within this Annual Report to “Tandem,” “we,” “our,” “us,” “management,” or the “Company” refer to Tandem Diabetes Care, Inc., together with its wholly-owned subsidiaries.
Tandem Diabetes Care, a global insulin delivery and diabetes technology company, manufactures and sells advanced automated insulin delivery systems that reduce the burden of diabetes management, while creating new possibilities for patients, their loved ones and healthcare providers.
−Removed: Our pump portfolio features the Tandem Mobi system and the t:slim X2 insulin pump, both of which feature Control-IQ advanced hybrid closed-loop technology.
−Removed: We are based in San Diego, California.
+Added: Our pump portfolio features the Tandem Mobi and t:slim X2, both of which feature Control-IQ advanced hybrid closed-loop technology.
+Added: Our headquarters are in San Diego, California.
We consider our primary addressable market to be people who live with type 1 diabetes.
−Removed: Through our product development efforts, we are seeking to expand our addressable market to include people living with type 2 diabetes who require intensive insulin therapy.
+Added: We are seeking to expand our addressable market to include people living with type 2 diabetes who require intensive insulin therapy.
Diabetes management can vary greatly from person to person, creating multiple market segments based on clinical needs and personal preferences.
−Removed: Our goal is to address the individual needs of people with insulin-dependent diabetes and their care team flexibility and choice in intelligent insulin delivery systems through an accessible portfolio of market-leading pumps, applications, and insights.
+Added: Our goal is to address the individual needs of people with insulin-dependent diabetes and their care team, by offering flexibility and choice in intelligent insulin delivery systems through an accessible portfolio of market-leading pumps, applications, and insights.
The t:slim X2 Insulin Delivery System has been our flagship technology solution.
−Removed: In February 2024, we expanded our pump portfolio with the U.S.
−Removed: launch of Tandem Mobi.
+Added: In February 2024, we expanded our pump portfolio with the United States launch of Tandem Mobi.
Both pumps feature our Control-IQ advanced hybrid closed loop technology, with an automated insulin delivery (AID) feature designed to help increase a user's time in targeted glycemic range.
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In addition, they are software-updatable from a personal computer and compatible with our web-based data management application.
−Removed: In the four-year period ended December 31, 2023, we shipped approximately 450,000 insulin pumps, which is representative of our in-warranty global installed customer base assuming the typical four-year reimbursement cycle.
−Removed: Approximately 310,000 pumps were shipped to customers in the United States and 140,000 were shipped to customers outside the United States.
+Added: In the four-year period ended December 31, 2024, we shipped more than 480,000 insulin pumps, which is representative of our in-warranty global installed customer base assuming the typical four-year reimbursement cycle.
+Added: Approximately 320,000 pumps were shipped to customers in the United States and approximately 160,000 were shipped to customers outside the United States.
Diabetes and the Insulin Therapy Management Market
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The Center for Disease Control and Prevention estimates Type 2 accounts for 90-95% of diagnosed diabetes in adults in the United States.
−Removed: We consider our addressable market to be people diagnosed with diabetes who are living with either type 1 diabetes, or with type 2 diabetes who require intensive insulin therapy.
+Added: We consider our addressable market to be people diagnosed with diabetes who are living with type 1 diabetes and we are also seeking to expand our addressable market to include people living with type 2 diabetes who require intensive insulin therapy.
Throughout this Annual Report, we refer to these individuals as people with insulin-dependent diabetes.
−Removed: In the geographies we serve, we estimate about 5 million people live with type 1 diabetes of whom, 1.9 million reside in the United States.
−Removed: We estimate approximately 2 million people in the United States live with type 2 diabetes and require intensive insulin therapy.
+Added: In the geographies we serve, we estimate more than 5 million people live with type 1 diabetes of whom, approximately 2 million reside in the United States.
+Added: We estimate nearly 2.5 million people in the United States live with type 2 diabetes and require intensive insulin therapy.
Diabetes can be difficult for patients to manage.
Unlike most therapies, insulin requirements can vary greatly and can be affected by many factors, such as type or quantity of food eaten, illness, stress and exercise.
−Removed: Preventing and managing fluctuations in blood glucose levels between hypoglycemia, or low blood glucose levels, and hyperglycemia, or high blood glucose levels, is often time consuming and stressful to people with diabetes and their loved ones.
+Added: Preventing and managing fluctuations in blood glucose levels between hypoglycemia, or low blood glucose levels, and hyperglycemia, or high blood glucose levels, is often time consuming and stressful.
There are two primary therapies used by people with insulin-dependent diabetes, Multiple Daily Injection (MDI) and insulin pumps.
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These pumps are entirely disposed of by the user every 3 days.
−Removed: More than 1.3 million people worldwide are estimated to use an insulin pump to manage their diabetes.
+Added: Approximately 2.2 million people worldwide are estimated to use an insulin pump to manage their diabetes.
We estimate that approximately 900,000 people in the United States use an insulin pump, of whom approximately 85% live with type 1 diabetes.
−Removed: In addition, we estimate that approximately 500,000 people use an insulin pump in approximately 25 countries outside the United States in which our insulin pump is available.
−Removed: Insulin pump therapy can provide benefit to a person with insulin-dependent diabetes when used independently or in conjunction with continuous glucose monitoring (CGM), which is a technology that provides users with real-time access to their glucose levels as well as trend information.
+Added: Insulin pump therapy can provide benefit when used independently or in conjunction with continuous glucose monitoring (CGM), which is a technology that provides users with real-time access to their glucose levels as well as trend information.
In addition, insulin pumps may feature an AID algorithm that is designed to automatically adjust a person’s insulin delivery based on their CGM trends and other factors to help minimize the frequency and/or duration of hyperglycemic and/or hypoglycemic events.
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It is PC- and Mac- compatible and designed to work with our pumps in a manner similar to software updates on a smartphone.
−Removed: We have used this technology to offer our in-warranty t:slim X2 customers worldwide software updates at no cost.
+Added: We have used this technology to offer our in-warranty customers worldwide software updates at no cost.
Tandem Source
−Removed: Our web-based data management platform provides users, their caregivers and their healthcare providers with a fast, easy and visual way to display diabetes therapy management data from our pumps, integrated CGMs and supported blood glucose meters.
−Removed: It also provides us with data that we can analyze to reveal patterns, trends, outcomes and associations that can be used to improve our products and in the analysis of clinical outcomes data.
+Added: Our web-based data management platform provides users, their caregivers and their healthcare providers with a fast, easy and visual way to display diabetes therapy management data from our pumps and integrated CGMs.
+Added: In 2023, Tandem Source was launched in the United States and in 2024 we began scaling its launch outside the United States.
+Added: Tandem Source also provides us with data that we can analyze to reveal patterns, trends, outcomes and associations that can be used to improve our products and in the analysis of clinical outcomes data.
Tandem Source is designed to bring together the features of Tandem’s legacy t:connect, t:connect HCP, and t:connect Portal offerings with new comprehensive data reporting in one central, scalable platform.
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Diabetes management can vary greatly from person-to-person, creating multiple market segments based on clinical needs and personal preferences.
−Removed: Our goal is to address the individual needs of people with insulin-dependent diabetes and their care team flexibility and choice in intelligent insulin delivery systems, through an accessible portfolio of market-leading pumps, applications, and insights.
−Removed: In support of this strategy, our portfolio of future technologies includes:
−Removed: Advancing our flagship t:slim platform, the t:slim X3 is planned to include enhanced technology, such as greater processing power and capacity to support our advanced algorithms, as well as increased battery life and improved durability.
−Removed: This offering is intended to provide an alternative tubeless infusion site option for Tandem Mobi pump users.
−Removed: It will allow a Tandem Mobi pump to be worn completely on the user’s body with no tubing.
−Removed: A goal of this design is to allow people living with diabetes to customize the way they wear their pump with each cartridge change, switching between tubed and tubeless wear configurations, to best suit their personal preferences and lifestyle.
−Removed: The ergonomic, rechargeable Sigi Patch Pump is intended to reduce the burden of managing diabetes through its use of pre-filled insulin cartridges and compatibility with AID technology.
−Removed: Extended Wear Infusion Sets
−Removed: Infusion sets provide additional choice and flexibility to people living with diabetes.
−Removed: Our goals for infusion set innovations focus on solutions that extend wear time and enhance user experience, while reducing occlusions, body burden and waste.
−Removed: In support of this effort, unique extended wear infusion set technology is expected to be part of our future portfolio.
−Removed: Control-IQ Advancements
−Removed: We are continuing to drive innovation in our algorithms, emphasizing automation, personalization and simplification to continue to improve therapeutic outcomes and provide a positive patient experience.
−Removed: In 2023, we began a pivotal study to support expanding indications to include people living with type 2 diabetes.
−Removed: In late 2023, our Control-IQ technology was cleared with additional features for people with type 1 diabetes age 2 and older.
−Removed: We are also researching the use of different insulins with our Control-IQ technology.
+Added: Our goal is to redefine global leadership in insulin delivery with an accessible portfolio of transformational devices, applications and services that reduce the daily burden of living with diabetes.
+Added: In support of this strategy, our portfolio of future technologies includes enhancing the features and capabilities of our t:slim X2 and Tandem Mobi insulin pump platforms, including adding a tubeless infusion site option for Tandem Mobi users.
+Added: Our development efforts also include Sigi, our ergonomic and rechargeable patch pump, in addition to extended wear infusion technology and algorithm advancement in pursuit of offering fully closed loop technology.
Markets and Distribution Methods
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Outside the United States and Canada, we contract with distributors who have substantial responsibility for sales, customer support, clinical efforts and order fulfillment.
+Added: In addition, we anticipate initiating direct sales, training and customer support activities in select European countries beginning in 2026.
Revenue Concentrations and Significant Customers.
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We believe these distributors carry minimal inventory at any given time.
−Removed: Outside the United States and Canada, there may be variability in inventory levels among our distributors, particularly when they first begin product sales or surrounding the launch of new products.
+Added: Outside the United States and Canada, there may be variability in inventory levels among our distributors, particularly when they first begin product sales or in the quarters surrounding the launch of new products.
For the year ended December 31, 2024, two independent distributors each accounted for more than 10% of our worldwide sales.
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Manufacturing and Quality Assurance
−Removed: Our t:slim X2 pumps, and Tandem Mobi pumps and cartridges, are currently assembled, tested, and packaged at our facilities in San Diego, California.
+Added: Our t:slim X2 pumps, Tandem Mobi pumps and Tandem Mobi cartridges are currently assembled, tested, and packaged at our facilities in San Diego, California.
Our t:slim X2 cartridges are manufactured by an experienced third-party contract manufacturer and packaged at our facilities in San Diego.
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In the case of sole sourced parts, we manage risk through holding inventory in-house and at the supplier to ensure continuity of supply and lower risk of disruption.
−Removed: We purchase many of our components and sub-assemblies from manufacturers with whom we are at least dual sourced.
+Added: We purchase many of our components and sub-assemblies from manufacturers with whom we are at least dual sourced and across various geographies.
We work closely with all suppliers to ensure continuity of supply while maintaining high quality and reliability.
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We rely on a combination of copyright, patent, trademark, trade secret and other intellectual property laws, non-disclosure agreements and other measures to protect our proprietary rights.
−Removed: As of December 31, 2023, our patent portfolio includes numerous issued patents and pending patent applications in the U.S.
−Removed: and other countries, which in the aggregate, we believe to be important to our business.
+Added: As of December 31, 2024, our patent portfolio includes numerous issued patents and pending patent applications in the United States and other countries, which in the aggregate, we believe to be important to our business.
Patents are generally effective for 20 years from the date the earliest application was filed in the patent family, and in some cases may be extended.
Our issued patents as of December 31, 2024 are set to expire over a range of years, from 2025 to 2042, subject to any extensions.
−Removed: We also have various registered U.S.
−Removed: trademarks, registered European Community trademarks, and other trademark registrations and pending trademark applications in other countries and regions of the world.
+Added: We also have various registered United States trademarks, registered European Community trademarks, and other trademark registrations and pending trademark applications in other countries and regions of the world.
In addition, we have entered into exclusive and non-exclusive licenses in the ordinary course of business relating to a wide array of technologies or other intellectual property rights or assets.
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The medical device industry is intensely competitive, subject to rapid change and highly sensitive to the introduction of new products, treatment techniques or technologies, or other market activities of industry participants.
−Removed: We compete in markets worldwide with companies that manufacture insulin delivery devices, primarily Insulet, Medtronic and Ypsomed.
−Removed: There are also a number of other companies developing and marketing their own insulin delivery systems and/or related software applications for launch both in the U.S.
−Removed: market and outside the U.S., including insulin pumps and Bluetooth-enabled insulin pens to support MDI therapy.
+Added: We compete in markets worldwide with companies that manufacture insulin delivery devices, primarily Insulet, Medtronic, Ypsomed and Beta Bionics.
+Added: There are also a number of other companies developing and marketing their own insulin delivery systems and/or related software applications for launch both in the United States market and outside the United States, including insulin pumps and Bluetooth-enabled insulin pens to support MDI therapy.
In addition, we face competition from a number of companies, medical researchers and existing pharmaceutical companies that are pursuing new delivery devices, delivery technologies, sensing technologies, procedures, drugs and other therapeutics for the monitoring, treatment and prevention of diabetes.
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The FDA’s approval of an IDE allows clinical testing to go forward, but it does not bind the FDA to accept the results of the trial as sufficient to prove the product’s safety and efficacy, even if the trial meets its intended success criteria.
−Removed: We are currently sponsoring or supporting several clinical trials that are intended to support future enhancements to our AID products.
Other Regulatory Requirements.
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Data Privacy and Information Security Laws and Regulations.
−Removed: Our use of t:connect and Tandem Source data is subject to internal policies and procedures that are designed to comply with the federal U.S.
−Removed: Health Insurance Portability and Accountability Act of 1996 (HIPAA), as well as applicable U.S.
−Removed: state privacy laws HIPAA, as amended by Health Information Technology for Economic and Clinical Health Act of 2009 (HITECH), imposes certain requirements on covered entities, which include certain healthcare providers, health plans and healthcare clearinghouses, and their business associates and covered subcontractors that receive or obtain protected health information in connection with providing a service on behalf of a covered entity relating to the privacy, security and transmission of individually identifiable health information.
+Added: Our use of t:connect and Tandem Source data is subject to internal policies and procedures that are designed to comply with the federal United States Health Insurance Portability and Accountability Act of 1996 (HIPAA), as well as applicable United States state privacy laws HIPAA, as amended by Health Information Technology for Economic and Clinical Health Act of 2009 (HITECH), imposes certain requirements on covered entities, which include certain healthcare providers, health plans and healthcare clearinghouses, and their business associates and covered subcontractors that receive or obtain protected health information in connection with providing a service on behalf of a covered entity relating to the privacy, security and transmission of individually identifiable health information.
Although t:connect, t:connect HCP and Tandem Source are not currently generally available to users or healthcare providers outside the United States, we are also mindful of requirements under Canada’s Personal Information Protection and Electronic Documents Act, referred to as PIPEDA, and similar provincial laws, and the E.U.
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Medical devices must comply with the General Safety and Performance Requirements, or GSPRs, set out in Annex I of the Medical Device Regulation.
−Removed: Compliance with these requirements is a prerequisite to be able to affix the CE mark to devices, without which they cannot be marketed or sold in the European Economic Area (comprised of the 27 EU Member States, Iceland, Liechtenstein and Norway).
−Removed: To demonstrate compliance with the GSPRs provided in the Medical Device Regulation and obtain the right to affix the CE mark, medical devices manufacturers must undergo a conformity assessment procedure, which varies according to the type of medical device and its classification.
−Removed: Apart from low risk medical devices (Class I with no measuring function and which are not sterile), in relation to which the manufacturer may issue an EU Declaration of Conformity based on a self-assessment of the conformity of its products with the GSPRs, a conformity assessment procedure requires the intervention of a Notified Body, which is an organization designated by a Competent Authority of an EEA country to conduct conformity assessments.
+Added: Compliance with these requirements is a prerequisite to affixing the CE mark to devices, without which they cannot be marketed or sold in the European Economic Area (comprised of the 27 EU Member States, Iceland, Liechtenstein and Norway).
+Added: To demonstrate compliance with the GSPRs provided in the Medical Device Regulation and obtain the right to affix the CE mark, medical devices manufacturers must conduct a conformity assessment procedure, which varies according to the type of medical device and its classification.
+Added: Apart from low risk medical devices (Class I with no measuring function and which are not sterile), in relation to which the manufacturer may issue an EU Declaration of Conformity based on a self-assessment of the conformity of its products with the GSPRs, a conformity assessment procedure requires review by a Notified Body, which is an organization designated by a Competent Authority of an EEA country to conduct conformity assessments.
Depending on the relevant conformity assessment procedure, the Notified Body audits and examines the technical documentation and the quality system for the manufacture, design and final inspection of the medical devices.
The Notified Body issues a CE Certificate of Conformity following successful completion of a conformity assessment procedure conducted in relation to the medical device and its manufacturer and their conformity with the GSPRs.
−Removed: This Certificate and the related conformity assessment process entitles the manufacturer to affix the CE mark to its medical devices after having prepared and signed a related EU Declaration of Conformity.
−Removed: As a general rule, demonstration of conformity of medical devices and their manufacturers with the GSPRs must be based, among other things, on the evaluation of clinical data supporting the safety and performance of the products during normal conditions of use.
−Removed: Specifically, a manufacturer must demonstrate that the device achieves its intended performance during normal conditions of use and that the known and foreseeable risks, and any adverse events, are minimized and acceptable when weighed against the benefits of its intended performance, and that any claims made about the performance and
−Removed: safety of the device (e.g., product labeling and instructions for use) are supported by suitable evidence.
−Removed: This assessment must be based on clinical data, which can be obtained from (1) clinical studies conducted on the devices being assessed, (2) scientific literature from similar devices whose equivalence with the assessed device can be demonstrated or (3) both clinical studies and scientific literature.
+Added: This Certificate and completion of the related conformity assessment process entitles the manufacturer to affix the CE mark to its medical devices after having prepared and signed a related EU Declaration of Conformity.
+Added: As a general rule, demonstration of conformity of medical devices and their manufacturers with the GSPRs must include the evaluation of clinical data supporting the safety and performance of the products during normal conditions of use.
+Added: Specifically, a manufacturer must demonstrate that the device achieves its intended performance during normal conditions of use and that the known and foreseeable risks, and any adverse events, are minimized and acceptable when weighed against the benefits of its intended performance, and that any claims made about the performance and safety of the device (e.g., product labeling and instructions for use) are supported by suitable evidence.
+Added: This assessment must be based on clinical data, which can be obtained from (1) clinical investigations conducted on the devices being assessed, (2) scientific literature from similar devices whose equivalence with the assessed device can be demonstrated or (3) both clinical investigations and scientific literature.
The conduct of clinical studies in the EEA is governed by detailed regulatory obligations.
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This process can be expensive and time-consuming.
−Removed: After a device is placed on the market, it remains subject to significant regulatory requirements.
+Added: Moreover, after a device is placed on the market, it remains subject to significant regulatory requirements that must commonly be fulfilled by the manufacturer or on their behalf.
The Medical Device Regulation provides transitional provisions, amended by Regulation (EU) 2023/603.
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Class III custom-made implantable medical devices may be placed on the market until May 26, 2026 without a CE Certificate of Conformity issued by Notified Body, provided that (i) by May 26,2024, an application is lodged with a Notified Body for the conformity assessment of the devices, in accordance with the Medical Device Regulation and a related written agreement is signed with the Notified Body by September 26, 2024.
−Removed: The advertising and promotion of medical devices in the EU is subject to the national laws of the individual EEA country that implemented the MDD, the AIMD and that apply the Medical Device Regulation, Directive 2006/114/EC concerning misleading and comparative advertising, and Directive 2005/29/EC on unfair commercial practices, as well as other national legislation of individual EEA countries governing the advertising and promotion of medical devices EEA countries’ national legislation may also restrict or impose limitations on our ability to advertise our products directly to the general public.
+Added: The advertising and promotion of medical devices in the EEA is subject to the national laws of the individual EEA country that implemented the MDD, the AIMD and that apply the Medical Device Regulation, Directive 2006/114/EC concerning misleading and comparative advertising, and Directive 2005/29/EC on unfair commercial practices, as well as other national legislation of individual EEA countries govern the advertisement and promotion of medical devices.
+Added: The national legislation of any individual EEA countries may also restrict or impose limitations on our ability to advertise our products directly to the general public.
In addition, voluntary EU and national industry Codes of Conduct provide guidelines on the advertising and promotion of our products to the general public and may impose limitations on our promotional activities with healthcare professionals.
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In addition, we have Health Canada approval to sell the t:slim X2 in Canada.
−Removed: Outside the United States, interactions between medical device companies, government officials and health care professionals are also governed by strict laws, such as national anti-bribery laws of European countries, national sunshine rules, regulations, industry self-regulation codes of conduct and physicians’ codes of professional conduct.
+Added: Moreover, outside the United States, interactions between medical device companies, government officials and health care professionals are also governed by strict laws, such as national anti-bribery laws of EEA countries, national sunshine rules, regulations, industry self-regulation codes of conduct and physicians’ codes of professional conduct.
These laws include the U.K.
Bribery Act and similar anti-bribery laws in other jurisdictions in which we operate.
−Removed: Such laws generally prohibit U.S.-
−Removed: based companies and their intermediaries from making improper payments for the purpose of obtaining or retaining business to foreign officials, or in the case of the U.K.
+Added: Such laws generally prohibit United States-based companies and their intermediaries from making improper payments for the purpose of obtaining or retaining business to foreign officials, or in the case of the U.K.
Bribery Act, to any person.
+Added: In Great Britain (i.e.
+Added: England, Wales, and Scotland), medical devices are governed by the Medical Device Regulations (UK MDR) 2002, as amended.
+Added: In light of the fact that the CE Marking process discussed above is set out in EU law, which no longer applies in the United Kingdom (other than in Northern Ireland), the United Kingdom has devised a new route to market culminating in a UKCA Mark to replace the CE Mark.
+Added: The UK Government has established transitional provisions to recognize the acceptance of CE marked medical devices on the Great Britain market.
Environment, Social and Governance
Our Board of Directors and management team believe that environmental stewardship, social responsibility, and solid corporate governance are important to our business strategy and long-term value creation for our shareholders, employees, customers, and communities.
−Removed: The Nominating and Corporate Governance Committee of our Board oversees ESG matters across our business operations in accordance with its charter.
−Removed: Our management team is responsible for developing and driving strategic ESG initiatives and programs across our business and providing regular updates on progress to the Nominating and Corporate Governance Committee.
−Removed: Additional information about our Environmental, Social and Governance practices can be found on our website within the “Investor Center” section.
+Added: The Audit Committee of our Board oversees ESG matters across our business operations in accordance with its charter.
+Added: Our management team is responsible for developing and driving strategic ESG initiatives and programs across our business and providing regular updates on progress to the Audit Committee.
+Added: Additional information about our Environmental, Social and Governance practices as well as our Sustainable Business Report can be found on our website within the “Investor Center” section.
The information contained on or accessed through our website does not constitute part of this Annual Report, and references to our website address in this Annual Report are inactive textual references only.
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The term “employees” in this Annual Report means our regular full-time employees.
−Removed: Our headquarters are in San Diego, California, where our primary research and development and administrative headquarters are located, and where we also operate a manufacturing facility and a warehousing facility.
+Added: Our headquarters are in San Diego, California, where our primary research and development and administrative functions are located, and where we also operate a manufacturing facility and a warehousing facility.
None of our employees are represented by a collective bargaining agreement, and we have never experienced any work stoppage.
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More than 90% of our employees have participated each year, and the results demonstrated that our overall engagement levels exceed Gallup’s averages worldwide and in the United States.
−Removed: In addition, we exceeded overall engagement in the professional, scientific and technical sector, as well as the life sciences sector.
+Added: In addition, we exceeded overall engagement in the professional, scientific and technical sector.
The results also reflected that we are a mission-driven company with employees’ response on our strength of purpose far exceeding Gallup’s measurement for world class.
−Removed: Diversity, Equity and Inclusion
−Removed: Our diversity, equity and inclusion (DE&I) efforts focus on cultivating and encouraging an inclusive and equitable culture where diversity of thought is represented and can thrive throughout our organization.
−Removed: More than half of our employees are female, includin g 30% of o ur employees at the Vice President level or higher, and approximately half of our employees are from an underrepresented ethnic community.
+Added: We focus on cultivating and encouraging an inclusive and equitable culture where diversity of thought is represented and can thrive throughout our organization.
We believe that bringing together different perspectives and experiences is fundamental to innovation and continuing to raise the bar in the field of diabetes technology.
−Removed: 2021 was our first full year of having a DE&I Council, which we have continued to expand since that time.
−Removed: This Council is sponsored by executive management and we provide regular updates to our Board of Directors on its initiatives and progress.
−Removed: It is staffed by employees with diverse backgrounds, experiences or characteristics who share a common interest in professional development, improving corporate culture and delivering sustained business results.
−Removed: In 2023, our first employee resource groups were formed and focus on supporting populations within Tandem including women and gender minorities, LGBTQIA+, Pacific Islander or Asians, parents and caregivers, and in enhancing Tandem’s sustainability efforts.
−Removed: Our DE&I efforts are focused on diabetes representation and access, representation in leadership, representation in technology roles and pro-inclusion.
−Removed: In addition, we are focused on cultivating and supporting our internal culture through diversity of thought, support and advocacy within the diabetes community and continuing to build and maintain a diverse and inclusive workforce.
+Added: Moreover, we are focused on cultivating and supporting our internal culture through diversity of thought, support and advocacy within the diabetes community and continuing to build and maintain a diverse and inclusive workforce.
Organizational Development
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Emerging Leaders and Leading in Tandem are examples of internal programs intended for high performing individual contributors, and newly hired and promoted supervisors and managers, respectively.
−Removed: More than 95% of employees participating in these programs remain employed at Tandem and approximately one-third have been promoted or have had a significant change in scope of responsibility.
−Removed: In 2023, approximately 400 employees participated in our leadership development programs.
+Added: More than 95% of employees participating in these programs remained employed at Tandem as of December 31, 2024 and approximately 20% had been promoted or had a significant change in scope of responsibility.
+Added: In 2024, more than 300 employees participated in our leadership development programs.
Competitive Total Rewards
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• We align our executives’ long-term equity compensation with our stockholders’ interests.
−Removed: • Annual increases and incentive compensation are based on our performance as well as each individual’s contribution to the results achieved and are documented through our talent management process as part of our annual review process.
−Removed: To foster a stronger sense of ownership and align the interests of partners with stockholders, stock options and/or restricted stock units are provided to a substantial proportion of our employees under our broad-based stock incentive programs.
−Removed: Also, our employees are able to participate in our employee stock purchase program.
−Removed: Furthermore, we offer comprehensive, locally relevant and innovative benefits to all eligible employees, including health insurance, paid time off, paid and unpaid leaves, a retirement plan, health savings accounts, flexible spending accounts, life and disability coverage, voluntary accident, critical illness, legal and identity theft coverage, employee discount program, and an employee loaner pump program.
+Added: • Annual increases and incentive compensation are based on Company performance as well as each individual’s contribution to the Company’s achieved results and are documented through our talent management procedures as part of our annual review process.
+Added: To foster a stronger sense of ownership and align the interests of partners with stockholders, equity awards are provided to a substantial proportion of our employees under our broad-based stock incentive programs.
+Added: Also, our full-time U.S.
+Added: employees are able to participate in our employee stock purchase program.
+Added: Furthermore, we offer comprehensive, locally relevant and innovative benefits to all eligible employees, including health insurance, paid time off, paid and unpaid leaves, defined-contribution retirement plans, health savings accounts, flexible spending accounts, life and disability coverage, voluntary accident, critical illness, legal and identity theft coverage, employee discount programs, and an employee loaner pump program.
Employee Health and Safety
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We operate in modern, efficient, and safe facilities, and have had minimal accident and injury rates company-wide.
−Removed: Despite this success, however, our goal remains the same:
+Added: Despite this success, our goal remains the same:
zero accidents.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.