Silicon Labs Reports Officer Changes & Compensation
Ticker: SLAB · Form: 8-K · Filed: Feb 27, 2024 · CIK: 1038074
| Field | Detail |
|---|---|
| Company | Silicon Laboratories Inc. (SLAB) |
| Form Type | 8-K |
| Filed Date | Feb 27, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.0001, $475,000, $1,500,000, $2,000,000, $1,000,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: officer-changes, compensation, 8-K
Related Tickers: SLAB
TL;DR
**Silicon Labs filed an 8-K about officer changes and compensation on Feb 27, but specific details are missing from this snippet.**
AI Summary
SILICON LABORATORIES INC. filed an 8-K on February 27, 2024, reporting events that occurred on February 21, 2024. The filing indicates changes related to the departure, election, or appointment of certain officers, as well as their compensatory arrangements. However, specific names of individuals or detailed financial amounts for compensation are not provided in this excerpt of the filing.
Why It Matters
Changes in executive leadership and compensation structures can signal strategic shifts or impact investor confidence, though specific details are needed to assess the full implications for SILICON LABORATORIES INC.
Risk Assessment
Risk Level: medium — While officer changes and compensation arrangements are reported, the lack of specific names or financial details prevents a full assessment of potential risks or opportunities for the company.
Key Players & Entities
- SILICON LABORATORIES INC. (company) — registrant
- February 21, 2024 (date) — date of earliest event reported
- February 27, 2024 (date) — filing date
- Delaware (state) — state of incorporation
FAQ
What is the name of the registrant company for this 8-K filing?
The registrant company is SILICON LABORATORIES INC.
What was the date of the earliest event reported in this 8-K?
The earliest event reported occurred on February 21, 2024.
What types of events are covered under Item 5.02 in this 8-K?
Item 5.02 covers Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; and Compensatory Arrangements of Certain Officers.
When was this 8-K filed with the SEC?
This 8-K was filed on February 27, 2024.
In which state is SILICON LABORATORIES INC. incorporated?
SILICON LABORATORIES INC. is incorporated in Delaware.
Filing Stats: 996 words · 4 min read · ~3 pages · Grade level 11.8 · Accepted 2024-02-27 07:12:18
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value SLAB The NASDAQ Stock Mar
- $475,000 — be entitled to an annual base salary of $475,000 and eligible for an annual target bonus
- $1,500,000 — ay 15, 2024, with a grant date value of $1,500,000 (which will vest on January 17, 2027 co
- $2,000,000 — ay 15, 2024, with a grant date value of $2,000,000 (which will vest in two equal annual in
- $1,000,000 — ll also receive a cash sign-on bonus of $1,000,000, one-half of which will be paid within
Filing Documents
- tm247196d1_8k.htm (8-K) — 28KB
- tm247196d1_ex99-1.htm (EX-99.1) — 10KB
- tm247196d1_ex99-1img01.jpg (GRAPHIC) — 3KB
- 0001104659-24-027884.txt ( ) — 214KB
- slab-20240221.xsd (EX-101.SCH) — 3KB
- slab-20240221_lab.xml (EX-101.LAB) — 33KB
- slab-20240221_pre.xml (EX-101.PRE) — 22KB
- tm247196d1_8k_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 February 27, 2024, Silicon Laboratories Inc. (the "Company") announced the appointment of Dean Butler as Senior Vice President and Chief Financial Officer, effective May 15, 2024 (the "Effective Date"). As of the Effective Date, Mark Mauldin will cease serving as Interim Chief Financial Officer and will continue to serve in his role as Chief Accounting Officer. Mr. Butler, age 41, joins Silicon Labs from Synaptics Incorporated, where he has served as Senior Vice President and Chief Financial Officer since October 2019. Prior to joining Synaptics, Mr. Butler served as Vice President of Finance at Marvell Technology, Inc. from July 2016 to October 2019, served as Controller of the Ethernet Switching Division at Broadcom, Inc. from January 2015 through July 2016, and served in senior finance positions at Maxim Integrated from May 2007 to December 2014. Mr. Butler received his bachelor's degree in finance from the University of Minnesota Duluth and is a graduate of Stanford University's Strategic Financial Leadership Program. Mr. Butler has served on the Board of Directors of Pixelworks, Inc., a leading provider of innovative video and display processing solutions, since May 2022. In connection with his appointment as Senior Vice President and Chief Financial Officer, Mr. Butler will be entitled to an annual base salary of $475,000 and eligible for an annual target bonus of 100% of his base salary, prorated for 2024, pursuant to the Company's 2024 Bonus Plan. Additionally, subject to the approval of the Compensation Committee of the Company's Board of Directors, Mr. Butler will receive the following equity awards (the "Equity Awards"): (a) a new-hire grant of performance stock units, expected to be made on May 15, 2024, with a grant date value of $1,500,000 (which will vest on January 17, 2027 contingent upon
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 99.1 Press Release of Silicon Laboratories Inc. dated February 27, 2024, announcing the appointment of Dean Butler as Chief Financial Officer 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. February 27, 2024 /s/ Nstor Ho Date Nstor Ho Vice President and Chief Legal Officer