Magnachip Semiconductor Files 8-K on Shareholder Vote

TL;DR

Magnachip filed an 8-K for a shareholder vote on June 13th.

AI Summary

Magnachip Semiconductor Corporation filed an 8-K on June 20, 2024, reporting on matters submitted to a vote of security holders on June 13, 2024. The filing details the company's corporate structure and its reporting history with the SEC.

Why It Matters

This filing indicates a formal process of shareholder engagement on significant company matters, which can impact corporate governance and future strategic decisions.

Risk Assessment

Risk Level: low — The filing is a routine disclosure of a shareholder vote and does not indicate any immediate financial distress or significant operational changes.

Key Players & Entities

• MAGNACHIP SEMICONDUCTOR Corp (company) — Registrant
• June 13, 2024 (date) — Date of earliest event reported
• June 20, 2024 (date) — Date of report

FAQ

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MX New York Stock Exchang

Filing Documents

• d818658d8k.htm (8-K) — 39KB
• 0001193125-24-164516.txt ( ) — 165KB
• mx-20240613.xsd (EX-101.SCH) — 2KB
• mx-20240613_lab.xml (EX-101.LAB) — 19KB
• mx-20240613_pre.xml (EX-101.PRE) — 12KB
• d818658d8k_htm.xml (XML) — 4KB

From the Filing

8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): June 13, 2024 Magnachip Semiconductor Corporation (Exact name of Registrant as specified in its charter) Delaware 001-34791 83-0406195 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.) c/o Magnachip Semiconductor, Ltd. 15F, 76 Jikji-daero 436beon-gil, Heungdeok-gu Cheongju-si , Chungcheongbuk-do , 28581 , Republic of Korea Not Applicable (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: + 82 ( 2 ) 6903-3000 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol Name of each exchange on which registered Common Stock, par value $0.01 per share MX New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (240.12b-2 of this chapter). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item5.07. Submission of Matters to a Vote of Security Holders. The Company held its 2024 Annual Meeting of Stockholders ("Annual Meeting") on June 13, 2024. As of the close of business on the record date of April 23, 2024, there were 38,263,642 shares of the Company's common stock outstanding and entitled to vote at the Annual Meeting. The number of shares of the Company's common stock present at the meeting, in person or by proxy, was 29,687,036, or 77.59% of the outstanding shares entitled to vote. At the meeting, the following proposals were submitted to a vote of the Company's stockholders, with the final voting results indicated below: Proposal 1 - Election of Directors . The Company's stockholders elected the following five directors to serve until the 2025 Annual Meetings of Stockholders and until their respective successors are elected and qualified. For Withheld Broker Non-Votes Kyo-Hwa (Liz) Chung 18,773,575 2,399,482 8,513,979 Young-Joon (YJ) Kim 18,616,284 2,556,773 8,513,979 Ilbok Lee 16,855,117 4,317,940 8,513,979 Gilbert Nathan 17,892,233 3,280,824 8,513,979 Camillo Martino 17,859,261 3,313,796 8,513,979 Proposal 2 - Advisory Vote on the Compensation of the Named Executive Officers . The Company's stockholders approved, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the Company's 2024 proxy materials. For Against Abstained Broker Non-Votes 16,917,873 4,225,854 29,330 8,513,979 Proposal 3 - Ratification of the Appointment of Samil PricewaterhouseCoopers . The Company's stockholders ratified the appointment of Samil PricewaterhouseCoopers as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024. For Against Abstained 28,575,490 1,094,283 17,263 There were no broker non-votes with respect to Proposal 3. Proposal 4 - Advisory Vote on the Frequency of Stockholder Vote on Executive Compensation . The Company's stockholders voted, on an advisory basis, regarding the frequency of future advisory votes on the compensation of the Company's named executive officers. "1 Year" received the most votes. 1 Year 2 Year 3 Year Abstained Broker Non-Votes 19,235,551 16,105 1,570,381 351,020 8,513,979 Based on these results, and consistent with the Board's recommendation disclosed in the Company's 2024 proxy materials, the Board has determined that the Company will hold an advisory vote on the compensation of the Company's named executive officers on an annual basis. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. MAGNACHIP SEMICONDUCTOR CORPORATION Dated: June 20, 2024 By: /s/ Theodore Kim Theodore Kim Chief Compliance Officer, General Counsel a

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View this 8-K filing on SEC EDGAR