Vishay Intertechnology, Inc. Announces Conversion Period for 2.25% Convertible Senior Notes due 2030

Rhea-AI Summary

Vishay (NYSE: VSH) notified holders that its 2.25% convertible senior notes due 2030 are convertible at holder option from July 5, 2026 through October 3, 2026.

The notes convert at 33.1609 shares per $1,000 (about $30.16 per share), after Vishay’s stock traded above 130% of the conversion price for the required period.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Share price exceeded 130% of conversion price, triggering convertibility condition
• Company may settle up to aggregate principal amount entirely in cash
• Flexible settlement choice of cash, stock, or combination for excess conversion value

Negative

• Potential share issuance if holders convert and company elects stock settlement
• Limited conversion window from July 5, 2026 to October 3, 2026

What This Means

The key development is that Vishay’s 2.25% notes are now convertible between July 5 and October 3, 2...

Analysis

The key development is that Vishay’s 2.25% notes are now convertible between July 5 and October 3, 2026 at a $30.16 reference price. This follows a large equity raise under the active S‑3 shelf; investors may watch how much of the note issue ultimately converts.

Key Figures

Coupon rate: 2.25% Conversion window start: July 5, 2026 Conversion window end: October 3, 2026 +5 more

8 metrics

Coupon rate 2.25% Convertible senior notes due 2030

Conversion window start July 5, 2026 First day holders may convert Notes in this period

Conversion window end October 3, 2026 Last day holders may convert Notes in this period

Trading-day condition 20 of 30 days Stock price test period triggering convertibility

Price trigger threshold 130% Of the conversion price during the 30-day test period

Conversion rate 33.1609 shares per $1,000 Shares of common stock per $1,000 principal amount of Notes

Conversion price $30.16 per share Implied from current conversion rate

Pre-headline share price $45.92 Last close before this conversion notice

Historical Context

5 past events · Latest: Jun 30 (Neutral)

5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 30	Product launch	Neutral	-4.4%	Introduced six new SMD polymer PTC thermistor series for overcurrent protection.
Jun 29	Equity offering pricing	Neutral	-4.4%	Priced 15,000,000‑share common stock offering at $50 targeting ~$750M gross proceeds.
Jun 29	Equity offering launch	Neutral	-4.4%	Commenced $750M common stock offering with additional $112.5M underwriter option.
Jun 25	Product launch	Neutral	+7.8%	Announced automotive‑grade phototransistor optocoupler for 800 V EV batteries.
Jun 23	Product launch	Neutral	-8.3%	Launched automotive‑grade ambient light sensors for automotive and industrial uses.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Regulatory & Risk Context

Active S-3 Shelf · Short Interest: 12.19%

Shelf Active

Short Interest

12.19% of float

0% 15% 30%+

moderate as of 2026-06-15 Days to cover: 1.6

Short interest is at an elevated level, suggesting positioning that could add to volatility if sentiment shifts sharply in either direction.

Active S-3 Shelf Registration 2026-06-29

The company has an effective automatic Form S-3 shelf, allowing it to issue various securities over time, which provides financing flexibility but also ongoing capacity for future equity or debt issuance.

Key Terms

convertible senior notes, conversion option, conversion rate, indenture, +2 more

6 terms

convertible senior notes financial

"holders of its 2.25% convertible senior notes due 2030 (the "Notes")"

Convertible senior notes are a type of loan that a company issues to investors, which can be turned into company shares later on. They are called "senior" because they are paid back before other debts if the company runs into trouble. This allows investors to earn interest like a loan but also have the chance to own part of the company if its value rises.

conversion option financial

"at the option of the holders (the "Conversion Option"), beginning July 5, 2026"

A conversion option is a built‑in right that lets the owner of one financial instrument — typically a bond or preferred share — swap it for a set number of common shares under prearranged terms. For investors it matters because it provides a chance to share in the company’s upside like a voucher you can redeem for stock, while also creating potential dilution and changing the security’s risk and return profile compared with ordinary bonds or shares.

conversion rate financial

"The Notes are convertible at a conversion rate of 33.1609 shares"

Conversion rate is the proportion of items, people or contracts that take a desired action out of the total possible — for example the share of website visitors who make a purchase, or the number of convertible bonds that are exchanged for shares. Investors care because it measures how effectively a business or financial instrument turns opportunity into real outcomes, like sales or share issuance, which directly affects revenue, cash flow and ownership dilution.

indenture regulatory

"made in accordance with the terms of the Indenture governing the Notes."

An indenture is a legal agreement between a company that borrows money by issuing bonds and the people who buy those bonds. It explains the rules the company must follow, like paying back the money and keeping certain financial promises. This document helps both sides understand their rights and responsibilities.

conversion price financial

"was greater than 130% of the conversion price in effect on each applicable trading day."

The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.

conversion agent financial

"HSBC Bank USA, National Association, which is serving as the conversion agent"

A conversion agent is a third-party service that carries out and records exchanges when a security can be swapped for another — for example, turning convertible bonds or preferred shares into common stock. Think of it as the clerk at a ticket booth who verifies your voucher, gives you the new ticket, and updates the ledger; investors care because the agent controls the timing, accuracy and paperwork of conversions, which affect share counts, ownership and value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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MALVERN, Pa., July 06, 2026 (GLOBE NEWSWIRE) -- Vishay Intertechnology, Inc. (NYSE: VSH), one of the world's largest manufacturers of discrete semiconductors and passive components, today notified holders of its 2.25% convertible senior notes due 2030 (the "Notes") that the Notes are convertible, at the option of the holders (the "Conversion Option"), beginning July 5, 2026 and ending at the close of business on October 3, 2026.  The Notes are convertible into cash, up to the aggregate principal amount of the Notes, and in cash, shares of the Company's common stock or a combination thereof, at the Company's election, in respect of the remainder, if any, of the Company's conversion obligation in excess of the aggregate principal amount of the Notes being converted.  Any determination regarding the convertibility of the Notes during future periods will be made in accordance with the terms of the Indenture governing the Notes.

The Notes became convertible as a result of the last reported sale price of shares of the Company's common stock, for at least 20 trading days (whether or not consecutive) during the period of 30 consecutive trading days (including the last trading day of such period) ending on, and including, the last trading day of the fiscal quarter ended July 4, 2026, was greater than 130% of the conversion price in effect on each applicable trading day.

The Notes are convertible at a conversion rate of 33.1609 shares of common stock per $1,000 principal amount of Notes, which is equivalent to a conversion price of approximately $30.16 per share of common stock.

The Company has issued a notice to holders with respect to the Conversion Option specifying the applicable terms, conditions and procedures. The notice is available through HSBC Bank USA, National Association or by requesting a copy from HSBC Bank USA, National Association, which is serving as the conversion agent, at:

HSBC Bank USA, National Association
Attention: CTLANY Client Service Delivery Team / Vishay Intertechnology, Inc.
66 Hudson Blvd East, 545W9
New York, NY 10001

None of the Company, its Board of Directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or refrain from exercising the Conversion Option.

This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Vishay

Vishay manufactures one of the world’s largest portfolios of discrete semiconductors and passive electronic components that are essential to innovative designs in the automotive, industrial, computing, consumer, telecommunications, military, aerospace, and healthcare markets. Serving customers worldwide, Vishay is The DNA of tech.® Vishay Intertechnology, Inc. is a Fortune 1,000 Company listed on the NYSE (VSH). More on Vishay at www.vishay.com.

Forward-Looking Statements

Statements contained herein that relate to the Company's future cash dividends on its common stock and Class B common stock are forward-looking statements within the safe harbor provisions of Private Securities Litigation Reform Act of 1995. Words such as “to be,” "will be," or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance, or achievements may vary materially from those anticipated, estimated or projected. Among the factors that could cause actual results to materially differ include: general business and economic conditions; manufacturing or supply chain interruptions or changes in customer demand due to political, economic, and health instability and military conflicts and hostilities; delays or difficulties in implementing our cost reduction strategies; delays or difficulties in expanding our manufacturing capacities; an inability to attract and retain highly qualified personnel; changes in foreign currency exchange rates; uncertainty related to the effects of changes in foreign currency exchange rates; competition and technological changes in our industries; difficulties in new product development; difficulties in identifying suitable acquisition candidates, consummating a transaction on terms which we consider acceptable, and integration and performance of acquired businesses; changes in U.S. and foreign trade regulations and tariffs, and uncertainty regarding the same; volatility in prices for metals and materials; changes in applicable domestic and foreign tax regulations, and uncertainty regarding the same; changes in applicable accounting standards and other factors affecting our operations that are set forth in our filings with the Securities and Exchange Commission, including our annual reports on Form 10-K and our quarterly reports on Form 10-Q. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The DNA of tech® is a trademark of Vishay Intertechnology.

Contact:                                                   

Vishay Intertechnology, Inc.
Peter Henrici
Executive Vice President, Corporate Development
+1-610-644-1300

FAQ

What did Vishay (NYSE: VSH) announce about its 2.25% convertible notes due 2030?

Vishay announced holders of its 2.25% convertible senior notes due 2030 may convert during a 2026 window. According to Vishay, conversions are allowed from July 5, 2026 through October 3, 2026, following satisfaction of a stock-price based convertibility condition.

When can holders convert Vishay’s 2.25% convertible senior notes due 2030 in 2026?

Holders can convert the notes from July 5, 2026 until close of business October 3, 2026. According to Vishay, this period follows the stock trading above 130% of the conversion price for at least 20 days in a 30-trading-day period.

What is the conversion rate and implied price for Vishay’s VSH 2.25% convertible notes due 2030?

The notes convert at 33.1609 shares of common stock per $1,000 principal amount. According to Vishay, this conversion rate equals an approximate conversion price of $30.16 per share, determining how many shares holders receive if Vishay settles conversions in stock.

Why did Vishay’s 2.25% convertible senior notes due 2030 become convertible in July 2026?

The notes became convertible because Vishay’s stock met a specified price performance test. According to Vishay, its share price exceeded 130% of the conversion price for at least 20 trading days in a 30-day period ending with the July 4, 2026 quarter.

How will Vishay settle conversions of its 2.25% convertible notes due 2030?

Vishay will pay cash up to the aggregate principal amount of notes converted, then choose the form for any excess value. According to Vishay, that excess may be settled in cash, common stock, or a combination, at the company’s election.

Who is the conversion agent for Vishay’s 2.25% convertible senior notes due 2030?

HSBC Bank USA, National Association is serving as conversion agent for these notes. According to Vishay, holders can obtain the detailed conversion notice and procedures through HSBC or by written request to its CTLANY Client Service Delivery Team in New York.

Is Vishay’s July 2026 convertible notes announcement an offer to sell VSH securities?

The announcement is not an offer to sell or solicit an offer to buy securities. According to Vishay, no sale may occur in any jurisdiction where such activity would be unlawful before proper registration or qualification under applicable securities laws.