Microchip (MCHP) CFO receives 58,500 RSU and PSU stock unit grants
Rhea-AI Filing Summary
Bjornholt James Eric reported acquisition or exercise transactions in this Form 4 filing.
Microchip Technology Inc. senior VP and CFO James Eric Bjornholt received equity compensation grants totaling 58,500 stock units. The awards comprise 29,249 Restricted Stock Units and 29,251 Performance Stock Units, each unit representing a contingent right to one share of common stock.
The RSUs vest in scheduled installments from May 15, 2027 through May 15, 2030, contingent on continued service. The PSUs are earned based on cumulative non-GAAP operating margin targets of 30.5%, 31.0% and 31.5% over measurement periods ending March 31, 2027, 2028 and 2029, then vest between 2027 and 2030 if employment conditions are met. The filing also notes 28,573 common shares held indirectly in a trust.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 11,576 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 11,577 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 9,543 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 9,544 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 4,048 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 4,048 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 4,082 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 4,082 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock. The restricted stock units vest in four equal quarterly installments on May 15, 2027, August 15, 2027, November 15, 2027 and February 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. Each performance stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock. Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 4 quarters ending March 31, 2027. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 30.5% over the 4 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest 25% each on May 15, 2027, August 15, 2027, November 15, 2027 and February 15, 2028 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. The restricted stock units vest in four equal quarterly installments on May 15, 2028, August 15, 2028, November 15, 2028 and February 15, 2029, as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 8 quarters ending March 31, 2028. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 31.0% over the 8 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest 25% each on May 15, 2028, August 15, 2028, November 15, 2028 and February 15, 2029 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. The restricted stock units vest in four equal quarterly installments on May 15, 2029, August 15, 2029, November 15, 2029 and February 15, 2030, as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 12 quarters ending March 31, 2029. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 31.5% over the 12 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest 25% each on May 15, 2029, August 15, 2029, November 15, 2029 and February 15, 2030 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. The restricted stock units vest in full on May 15, 2030, as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest. Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 12 quarters ending March 31, 2029. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 31.5% over the 12 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest in full on May 15, 2030 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.
Key Figures
Key Terms
Restricted Stock Units financial
Performance Stock Unit (PSU) financial
non-GAAP operating margin financial
Equity Incentive Plan financial
service provider financial
FAQ
What did Microchip Technology (MCHP) report in this Form 4 for its CFO?
How many stock units were granted to the Microchip (MCHP) CFO in this filing?
When do the new Restricted Stock Units for MCHP’s CFO vest?
What performance conditions apply to the Performance Stock Units granted to MCHP’s CFO?
Over what period will the earned Performance Stock Units for MCHP’s CFO vest?