Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 15, 2021, the Board of Directors (the "Board") of Proto Labs, Inc. (the "Company") elected Stacy Greiner as a member of the Board, effective immediately. The size of the Board was increased to nine in connection with Ms. Greiner's election.

Ms. Greiner serves as the General Manager, North America Sales & Marketing Business for Dun & Bradstreet, a leading global provider of business decisioning data and analytics. Ms. Greiner has significant expertise in general management, digital marketing, and data analytics. Prior to her current position, Ms. Greiner was Chief Marketing Officer for Dun & Bradstreet and responsible for brand and marketing strategy. Prior to joining Dun & Bradstreet, Ms. Greiner held executive roles at DMI, Cisco, DXC and IBM. Ms. Greiner holds an MBA from the MIT Sloan School of Management and a BS in Aerospace Engineering from Iowa State University.

Ms. Greiner will be compensated for her service on the Board pursuant to the Company's Non-Employee Director Compensation Program, including an initial equity award valued at $145,000 with immediate vesting and an additional annual stock unit grant which will be pro-rated for the time between Ms. Greiner's appointment and the anniversary of the most recent annual meeting of shareholders, with vesting at the next annual meeting, in connection with her appointment to the Board. Ms. Greiner will also receive a quarterly cash retainer of $12,500 as a member of the Board.

Other than as described herein, there are no arrangements or understandings between Ms. Greiner and any other persons pursuant to which Ms. Greiner was elected as a director of the Company. Ms. Greiner has no direct or indirect material interest in any currently proposed transaction in which the Company is to be a participant and the amount involved exceeds $120,000, nor has Ms. Greiner had a direct or indirect material interest in any such transaction since the beginning of the Company's last fiscal year.

A copy of the press release issued by the Company on November 16, 2021 announcing Ms. Greiner's election as a director is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release of Proto Labs, Inc. dated November 16, 2021 104 Cover Page Interactive Data File (formatted as Inline XBRL)


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