Analog Devices Elects New Directors, Updates Executive Compensation

TL;DR

ADI adds new board members and signs new exec deal. Board shakeup!

AI Summary

Analog Devices, Inc. announced on October 9, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Ms. Michelle J. Wilson and Mr. David P. Zinsner, to its board. Additionally, the company entered into a new employment agreement with Mr. Prasanth Rao, its Senior Vice President, effective October 9, 2024.

Why It Matters

Changes in board composition and executive employment agreements can signal shifts in company strategy, governance, and future performance expectations.

Risk Assessment

Risk Level: low — The filing primarily concerns routine corporate governance and executive appointments, with no immediate financial distress or significant negative events indicated.

Key Players & Entities

• Analog Devices, Inc. (company) — Registrant
• Michelle J. Wilson (person) — Newly elected director
• David P. Zinsner (person) — Newly elected director
• Prasanth Rao (person) — Senior Vice President
• October 9, 2024 (date) — Effective date of board changes and new employment agreement

FAQ

From the Filing

0001193125-24-235621.txt : 20241010 0001193125-24-235621.hdr.sgml : 20241010 20241010080029 ACCESSION NUMBER: 0001193125-24-235621 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20241009 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20241010 DATE AS OF CHANGE: 20241010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ANALOG DEVICES INC CENTRAL INDEX KEY: 0000006281 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 042348234 STATE OF INCORPORATION: MA FISCAL YEAR END: 1102 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-07819 FILM NUMBER: 241363850 BUSINESS ADDRESS: STREET 1: ONE ANALOG WAY CITY: WILMINGTON STATE: MA ZIP: 01887 BUSINESS PHONE: 7813294700 MAIL ADDRESS: STREET 1: ONE ANALOG WAY CITY: WILMINGTON STATE: MA ZIP: 01887 8-K 1 d853290d8k.htm 8-K 8-K ANALOG DEVICES INC false 0000006281 0000006281 2024-10-09 2024-10-09     UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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): October 9, 2024     Analog Devices, Inc. (Exact name of Registrant as Specified in its Charter)       Massachusetts   1-7819   04-2348234 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.)   One Analog Way , Wilmington , MA   01887 (Address of Principal Executive Offices)   (Zip Code) Registrant’s telephone number, including area code: (781) 935-5565 Not Applicable (Former Name or Former Address, if Changed Since Last Report)     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(s)   Name of each exchange on which registered Common Stock $0.16 2/3 par value per share   ADI   Nasdaq Global Select Market 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. ☐       Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 9, 2024, Anelise Sacks notified Analog Devices, Inc. (the “Company”) of her decision to resign as Executive Vice President and Chief Customer Officer of the Company to explore other opportunities, effective as of March 31, 2025, or such earlier date as the Company appoints a new Chief Customer Officer. If the Company appoints a new Chief Customer Officer prior to March 31, 2025, Ms