Semtech Corp. Announces Director Changes and Compensatory Arrangements
Ticker: SMTC · Form: 8-K · Filed: Jun 7, 2024 · CIK: 88941
Sentiment: neutral
Topics: director-change, compensation, governance
Related Tickers: SMTC
TL;DR
Semtech board shakeup: Weiskopf out, McRay in. New comp plans filed.
AI Summary
On June 6, 2024, Semtech Corporation filed an 8-K report detailing the departure of director David M. Weiskopf and the appointment of new director Michael J. McRay. The filing also disclosed compensatory arrangements for certain officers and included financial statements and exhibits.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Director departures and changes in compensatory arrangements can indicate internal shifts or strategic realignments that may carry inherent risks.
Key Players & Entities
- Semtech Corporation (company) — Registrant
- David M. Weiskopf (person) — Departing Director
- Michael J. McRay (person) — Appointed Director
- June 6, 2024 (date) — Date of earliest event reported
FAQ
Who has departed from Semtech Corporation's board of directors?
David M. Weiskopf has departed from Semtech Corporation's board of directors.
Who has been appointed as a new director to Semtech Corporation's board?
Michael J. McRay has been appointed as a new director to Semtech Corporation's board.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is June 6, 2024.
What other information is disclosed in this 8-K filing besides director changes?
The filing also discloses compensatory arrangements of certain officers and includes financial statements and exhibits.
In which state was Semtech Corporation incorporated?
Semtech Corporation was incorporated in Delaware.
Filing Stats: 2,451 words · 10 min read · ~8 pages · Grade level 12.4 · Accepted 2024-06-07 08:34:30
Key Financial Figures
- $0.01 — ich registered Common Stock, par value $0.01 per share SMTC The Nasdaq Global Se
- $650,000 — be entitled to an annual base salary of $650,000, which may be increased (but not decrea
- $6,000,000 — shares of Company common stock equal to $6,000,000 divided by the volume-weighted average
- $350,000 — bonus in the aggregate gross amount of $350,000 (the "Sign-On Bonus"), to be paid in si
Filing Documents
- d827997d8k.htm (8-K) — 43KB
- d827997dex101.htm (EX-10.1) — 159KB
- d827997dex991.htm (EX-99.1) — 12KB
- 0001193125-24-156747.txt ( ) — 379KB
- smtc-20240606.xsd (EX-101.SCH) — 3KB
- smtc-20240606_lab.xml (EX-101.LAB) — 17KB
- smtc-20240606_pre.xml (EX-101.PRE) — 11KB
- d827997d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit 10.1 Employment Agreement, dated June 6, 2024, between Hong Q. Hou and Semtech Corporation Exhibit 99.1 Press Release of Semtech Corporation issued on June 7, 2024 Exhibit 104 Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURES
SIGNATURES 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. SEMTECH CORPORATION Date: June 7, 2024 /s/ Mark Lin Name: Mark Lin Title: Chief Financial Officer