Monolithic Power Systems Files 8-K on Financials
Ticker: MPWR · Form: 8-K · Filed: Aug 1, 2024 · CIK: 1280452
Sentiment: neutral
Topics: financial-reporting, results-of-operations
Related Tickers: MPWR
TL;DR
MPWR dropped an 8-K detailing Q2 results and other events. Check it out.
AI Summary
Monolithic Power Systems, Inc. (MPWR) filed an 8-K on July 30, 2024, reporting on its results of operations and financial condition, along with other events and financial statements. The filing details the company's performance and significant corporate activities for the period ending July 30, 2024.
Why It Matters
This filing provides investors with crucial updates on Monolithic Power Systems' financial health and operational performance, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine financial filing and does not indicate any unusual or high-risk events.
Key Players & Entities
- MONOLITHIC POWER SYSTEMS, INC. (company) — Registrant
- MPWR (company) — Ticker Symbol
- July 30, 2024 (date) — Date of Report
- Delaware (jurisdiction) — State of Incorporation
- 5808 Lake Washington Blvd. NE, Kirkland, Washington 98033 (address) — Principal Executive Offices
- 425-296-9956 (phone_number) — Registrant's telephone number
FAQ
What is the primary purpose of this 8-K filing for Monolithic Power Systems, Inc.?
The primary purpose of this 8-K filing is to report on the company's results of operations and financial condition, as well as other events and financial statements.
On what date was this 8-K filing reported?
The earliest event reported in this 8-K filing was on July 30, 2024.
What is the state of incorporation for Monolithic Power Systems, Inc.?
Monolithic Power Systems, Inc. is incorporated in Delaware.
Where are the principal executive offices of Monolithic Power Systems, Inc. located?
The principal executive offices of Monolithic Power Systems, Inc. are located at 5808 Lake Washington Blvd. NE, Kirkland, Washington 98033.
What is the telephone number for Monolithic Power Systems, Inc.?
The telephone number for Monolithic Power Systems, Inc. is (425) 296-9956.
Filing Stats: 996 words · 4 min read · ~3 pages · Grade level 12 · Accepted 2024-08-01 16:01:30
Key Financial Figures
- $0.001 — ch registered Common Stock , par value $0.001 per share MPWR The NASDAQ Global Sel
Filing Documents
- mpwr20240516_8k.htm (8-K) — 32KB
- ex_675796.htm (EX-99.1) — 407KB
- ex_675797.htm (EX-99.2) — 325KB
- logosmall.jpg (GRAPHIC) — 8KB
- 0001437749-24-024285.txt ( ) — 958KB
- mpwr-20240730.xsd (EX-101.SCH) — 3KB
- mpwr-20240730_def.xml (EX-101.DEF) — 11KB
- mpwr-20240730_lab.xml (EX-101.LAB) — 15KB
- mpwr-20240730_pre.xml (EX-101.PRE) — 11KB
- mpwr20240516_8k_htm.xml (XML) — 3KB
02 Results of Operations and Financial Condition
Item 2.02 Results of Operations and Financial Condition. On August 1, 2024, Monolithic Power Systems, Inc. (the "Company") issued a press release regarding its financial results for the quarter ended June 30, 2024. The press release is attached hereto as Exhibit 99.1 and is incorporated by reference herein. Attached hereto as Exhibit 99.2 and incorporated by reference herein is financial information and commentary regarding results of the quarter ended June 30, 2024. The information under Item 2.02 of this Current Report on Form 8-K and Exhibits 99.1 and 99.2 attached hereto are being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), nor shall they be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the 1934 Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
01 Other Events
Item 8.01 Other Events. The Company has maintained a classified board of directors (the "Board") since its initial public offering in 2004. At the Company's 2024 annual meeting of stockholders (the "2024 Annual Meeting"), a majority of the Company's stockholders voted, on an advisory basis, in favor of a stockholder proposal to declassify the Company's Board (the "Proposal"). The Board has extensively discussed the merits of a classified Board, as well as the results of the stockholder vote on the Proposal. As part of the 2024 Annual Meeting, the Company also conducted significant outreach and engagement with its major stockholders and discussed various matters, including the Proposal. While the Board believes that the Company's stockholders have benefited from having a classified Board, the Board determined on July 30, 2024 that, given the results of the Proposal, it is advisable to declassify the Board over a period of time. The Board intends to approve and recommend to the Company's stockholders at the 2025 annual meeting of stockholders an amendment to the Company's Certificate of Incorporation to declassify the Board such that: (i) each class of directors will have one more election in which it is elected for a three-year term; (ii) at the Company's 2028 annual meeting of stockholders, the Class III directors will be elected to a two-year term; (iii) at the Company's 2029 annual meeting of stockholders, the Class I directors will be elected to a one-year term; and (iv) commencing with the Company's 2030 annual meeting of stockholders, all directors will be elected to one-year terms at each annual meeting of stockholders. The Board believes the six-year plan outlined above is optimal for the following reasons: Continuity and Stability: The Company takes a long-term view of its business strategy and maximization of stockholder value. A six-year plan will offer each class of directors one final three-year term and provide the Board with additional time to
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 99.1 Press release issued on August 1, 2024. 99.2 Earnings commentary for the quarter ended June 30, 2024. 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, thereunto duly authorized. Date: August 1, 2024 By: /s/ T. Bernie Blegen T. Bernie Blegen Executive Vice President and Chief Financial Officer