Microchip CEO awarded 3,446 restricted stock units
Sanghi Steve reported acquisition or exercise transactions in this Form 4 filing.
Rhea-AI Filing Summary
Sanghi Steve reported acquisition or exercise transactions in this Form 4 filing.
Microchip Technology Inc. reported that President, CEO and Chair of the Board Steve Sanghi received a grant of 3,446 restricted stock units. Each unit represents a contingent right to receive one share of Microchip common stock. The units will vest in full on May 15, 2028, provided he remains a service provider through that date, and vested shares will be delivered upon vesting.
Following this award, Sanghi holds 3,446 restricted stock units directly and 9,385,834 shares of common stock indirectly, with 3,479,962 shares held by The Sanghi Trust and 5,905,872 shares held by The Sanghi Family Limited Partnership.
Positive
- None.
Negative
- None.
Insider Trade Summary
Grant/Award: 3,446 shares
Grant/Award
2 txns
Insider
Sanghi Steve
Role
President, CEO and Chair of Bd
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 3,446 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 3,446 contracts (Direct);
Common Stock — 9,385,834 shares (Indirect, Shares held Indirectly, by Trust and by Family Limited Partnership.)
Footnotes (3)
- F1. Of the 9,385,834 shares held, 3,479,962 shares were held by The Sanghi Trust; and 5,905,872 shares were held by The Sanghi Family Limited Partnership.
- F2. Each restricted stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock.
- F3. The restricted stock units will vest in full on May 15, 2028 as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.
Key Figures
RSUs granted: 3,446 units
RSU vesting date: May 15, 2028
Indirect shares held: 9,385,834 shares
+3 more
6 metrics
RSUs granted
3,446 units
Restricted stock unit grant to CEO Steve Sanghi
RSU vesting date
May 15, 2028
Full vesting conditional on continued service
Indirect shares held
9,385,834 shares
Microchip common stock held indirectly by Sanghi
Shares in The Sanghi Trust
3,479,962 shares
Portion of indirect Microchip holdings
Shares in Family Limited Partnership
5,905,872 shares
Portion of indirect Microchip holdings
RSUs outstanding after grant
3,446 units
Total restricted stock units held directly
Key Terms
Restricted Stock Units, contingent right, Family Limited Partnership, service provider, +1 more
5 terms
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
contingent right financial
"represents a contingent right to receive one share of Microchip Technology Incorporated common stock"
Family Limited Partnership financial
"5,905,872 shares were held by The Sanghi Family Limited Partnership"
service provider financial
"will vest in full on May 15, 2028 as long as the individual remains a service provider"
vest financial
"Vested shares will be delivered to the reporting person upon vest"
A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.
FAQ
What insider transaction did Microchip (MCHP) report for CEO Steve Sanghi?
Microchip reported that CEO Steve Sanghi received a grant of 3,446 restricted stock units. Each unit represents a contingent right to one share of common stock, forming part of his equity-based compensation rather than an open-market purchase or sale.
When do Steve Sanghi’s 3,446 Microchip (MCHP) RSUs vest?
The 3,446 restricted stock units granted to Steve Sanghi vest in full on May 15, 2028. Vesting requires that he remain a service provider through that date, with the corresponding common shares delivered to him when the units vest.
Are Steve Sanghi’s new Microchip (MCHP) RSUs an open-market purchase?
The 3,446 restricted stock units granted to Steve Sanghi are a compensation award, not an open-market purchase. They carry a zero-dollar grant price and convert into common shares only upon vesting on May 15, 2028, assuming continued service.
What does each Microchip (MCHP) restricted stock unit granted to Steve Sanghi represent?
Each restricted stock unit granted to Steve Sanghi represents a contingent right to receive one share of Microchip common stock. The right becomes actual shares only when the units vest, provided he continues as a service provider through the vesting date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
