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Semtech | 8-K: Current report

Semtech | 8-K: Current report

先科電子 | 8-K：重大事件
美股SEC公告 ·  2024/06/07 20:36

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Semtech announced the appointment of Dr. Hong Q. Hou as President and CEO, effective June 6, 2024, following the termination of Paul H. Pickle. Dr. Hou, who has served as a board member since July 2023, brings extensive experience from his recent role as president of Brooks Automation's Semiconductor Group and previous executive positions at Intel Corporation.The new CEO will receive an annual base salary of $650,000 with a target bonus opportunity of 100% and maximum of 200%. His compensation package includes a $6 million stock unit award split between time-based RSUs and performance-based PSUs, a $350,000 sign-on bonus, and potential buy-out award up to $350,000.The company reaffirmed its Q2 FY2025 guidance, noting that Pickle's departure was unrelated to operational or financial performance. The leadership change stemmed from differences between the Board and Pickle regarding their working relationship. The Board has decreased its size from 12 to 11 directors following these changes.
Semtech announced the appointment of Dr. Hong Q. Hou as President and CEO, effective June 6, 2024, following the termination of Paul H. Pickle. Dr. Hou, who has served as a board member since July 2023, brings extensive experience from his recent role as president of Brooks Automation's Semiconductor Group and previous executive positions at Intel Corporation.The new CEO will receive an annual base salary of $650,000 with a target bonus opportunity of 100% and maximum of 200%. His compensation package includes a $6 million stock unit award split between time-based RSUs and performance-based PSUs, a $350,000 sign-on bonus, and potential buy-out award up to $350,000.The company reaffirmed its Q2 FY2025 guidance, noting that Pickle's departure was unrelated to operational or financial performance. The leadership change stemmed from differences between the Board and Pickle regarding their working relationship. The Board has decreased its size from 12 to 11 directors following these changes.
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