Microchip SVP gets 2,339 RSUs; now holds 29,736 MCHP shares
Microchip Technology (MCHP) Form 4: A Senior VP, Operations reported equity awards and updated holdings.
Rhea-AI Filing Summary
Microchip Technology (MCHP) Form 4: A Senior VP, Operations reported equity awards and updated holdings. The officer received 2,339 restricted stock units (RSUs) that vest on November 15, 2029, and 2,340 performance stock units (PSUs) whose payout depends on Microchip’s cumulative non-GAAP operating margin over 12 quarters ending September 30, 2028, with earned PSUs vesting on November 15, 2029. The filing also shows smaller grants of 69 RSUs and 69 PSUs vesting on November 15, 2028. Each RSU/PSU represents a right to one share upon vesting. Following the reported transactions, common stock beneficially owned is 29,736 shares, held directly.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 2,339 | $0.00 | $0.00 |
| Grant/Award | Performance Stock Units | 2,340 | $0.00 | $0.00 |
| Grant/Award | Restricted Stock Units | 69 | $0.00 | $0.00 |
| Grant/Award | Performance Stock Units | 69 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
Footnotes (6)
- F1. Each restricted stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock.
- F2. The restricted stock units will vest in full on November 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.
- F3. Each performance stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock.
- F4. 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 September 30, 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 29.0% 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 on November 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.
- F5. The restricted stock units will vest in full on November 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.
- F6. 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 September 30, 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 29.0% 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 on November 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.
FAQ
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What did Microchip (MCHP) disclose in this Form 4?
What performance condition applies to the PSUs for MCHP?
When do the new MCHP RSUs and PSUs vest?
What does each RSU/PSU represent for MCHP equity awards?
What is the officer’s role at MCHP?
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