Silicon Labs Amends 8-K on Officer Changes, Compensation
Ticker: SLAB · Form: 8-K/A · Filed: Jan 31, 2024 · CIK: 1038074
| Field | Detail |
|---|---|
| Company | Silicon Laboratories Inc. (SLAB) |
| Form Type | 8-K/A |
| Filed Date | Jan 31, 2024 |
| Risk Level | low |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $50,000, $500,000, $335,000 |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: amendment, executive-compensation, corporate-governance
TL;DR
**Silicon Labs just tweaked its executive compensation and leadership disclosures.**
AI Summary
Silicon Laboratories Inc. filed an 8-K/A amendment on January 31, 2024, to its original December 5, 2023 8-K filing. This amendment, labeled Amendment No. 1, primarily updates information related to the departure or election of directors and officers, as well as compensatory arrangements for certain officers. While the filing doesn't detail specific changes, it signals that previous disclosures regarding executive leadership or their pay have been refined. This matters to investors because changes in executive compensation or leadership can impact company strategy, financial performance, and ultimately, stock value.
Why It Matters
This amendment indicates that there were updates to previously disclosed information about executive leadership or their pay, which can influence investor confidence and the company's future direction.
Risk Assessment
Risk Level: low — This is an amendment to a previous filing, suggesting minor corrections or updates rather than new, significant events.
Analyst Insight
Investors should review the full text of the 8-K/A to understand the specific changes to executive leadership or compensation, as these details could influence future company performance and stock valuation.
Key Players & Entities
- SILICON LABORATORIES INC. (company) — the registrant filing the 8-K/A
- December 5, 2023 (date) — date of the earliest event reported in the original 8-K
- January 31, 2024 (date) — date the 8-K/A was filed
- Amendment No. 1 (other) — designation of the current filing
FAQ
What is the purpose of this 8-K/A filing by Silicon Laboratories Inc.?
This 8-K/A (Amendment No. 1) is an amendment to a previous Current Report on Form 8-K, filed to update information related to 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers' and 'Compensatory Arrangements of Certain Officers' as of the earliest event reported on December 5, 2023.
When was the original event reported that this 8-K/A amends?
The earliest event reported, which this 8-K/A amends, occurred on December 5, 2023.
What is the full legal name and state of incorporation for the registrant?
The exact name of the registrant is SILICON LABORATORIES INC., and it is incorporated in Delaware.
What is Silicon Laboratories Inc.'s business address and phone number?
The business address is 400 West Cesar Chavez, Austin, TX 78701, and the telephone number is (512) 416-8500.
What specific items from the original 8-K are being amended by this filing?
This 8-K/A amends Item 5.02, 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers,' and Item 9.01, 'Financial Statements and Exhibits,' from the original 8-K.
Filing Stats: 661 words · 3 min read · ~2 pages · Grade level 12.4 · Accepted 2024-01-31 16:23:33
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value SLAB The NASDAQ Stock Mar
- $50,000 — hief Financial Officer: a cash bonus of $50,000 effective February 2, 2024, and a grant
- $500,000 — ary 15, 2024 with a grant date value of $500,000 (which shall vest in three equal annual
- $335,000 — addition to his normal annual salary of $335,000, target bonus of 40% of his annual sala
Filing Documents
- tm244751d1_8ka.htm (8-K/A) — 23KB
- 0001104659-24-008814.txt ( ) — 190KB
- slab-20231205.xsd (EX-101.SCH) — 3KB
- slab-20231205_lab.xml (EX-101.LAB) — 33KB
- slab-20231205_pre.xml (EX-101.PRE) — 22KB
- tm244751d1_8ka_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers; Election of
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 5, 2023, John Hollister, the Chief Financial Officer and Senior Vice President of Silicon Laboratories Inc. (the "Company"), delivered his notice of resignation effective as of February 2, 2024. The Company appointed Mark Mauldin, the Company's Chief Accounting Officer, to serve as the Company's interim Chief Financial Officer beginning on February 2, 2024. On January 25, 2024, the Compensation Committee of the Board of Directors of Silicon Laboratories approved the terms of compensation for Mr. Mauldin. The Committee approved the following incremental compensation for Mr. Mauldin in connection with his appointment as interim Chief Financial Officer: a cash bonus of $50,000 effective February 2, 2024, and a grant of restricted stock units effective as of February 15, 2024 with a grant date value of $500,000 (which shall vest in three equal annual installments contingent upon Mr. Mauldin's continued service through each such date). Such compensation is in addition to his normal annual salary of $335,000, target bonus of 40% of his annual salary, and grant of restricted stock units effective as of May 15, 2024 with a grant date value of $500,000 (which shall vest in three equal annual installments contingent upon Mr. Mauldin's continued service through each such date).
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. 104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) 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. SILICON LABORATORIES INC. January 31, 2024 /s/ Nstor Ho Date Nstor Ho Vice President and Chief Legal Officer