Microchip Technology (MCHP) COO receives stock unit grants and adjusts holdings
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Microchip Technology chief operating officer Richard J. Simoncic reported new equity awards and an ownership correction. On April 1, 2026, he received grants of restricted stock units and performance stock units covering 10,667, 8,089 and 4,779 restricted units and 10,667, 8,090 and 4,780 performance units, each representing the right to receive one share of common stock.
The restricted units vest over quarterly schedules from May 15, 2027 through February 15, 2029, with another grant vesting in full on May 15, 2030. The performance units are tied to cumulative non-GAAP operating margin targets of 30.5%, 31.0% and 31.5% over measurement periods ending March 31, 2027, March 31, 2028 and March 31, 2029, with vesting dates matching the related restricted units.
The filing also shows a bona fide gift of 1,075 common shares on May 15, 2024, held indirectly by a trust, and corrects previously reported beneficial ownership to 146,127 common shares for that indirect position.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,075 shares gifted
Mixed
8 txns
Insider
Simoncic Richard J
Role
CHIEF OPERATING OFFICER
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 10,667 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 10,667 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 8,089 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 8,090 | $0.00 | -- |
| Grant/Award | Restricted Stock Units | 4,779 | $0.00 | -- |
| Grant/Award | Performance Stock Units | 4,780 | $0.00 | -- |
| Gift | Common Stock | 1,075 | $95.36 | $103K |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 10,667 shares (Direct);
Performance Stock Units — 10,667 shares (Direct);
Common Stock — 146,127 shares (Indirect, Shares held Indirectly, by Trust.)
Footnotes (1)
- This Form 4 reflects an adjustment to reconcile the reporting person's previously reported holdings with his actual beneficial ownership as reflected in account statements. A Form 4 filed on March 4, 2026 mistakenly reported 159,862 shares of common stock under Table I, Column 5, however, the reporting owner correct beneficial ownership is 146,127 shares of common stock. 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 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
RSU grant 1: 10,667 units
PSU grant 1: 10,667 units
RSU grant 2: 8,089 units
+5 more
8 metrics
RSU grant 1
10,667 units
Restricted stock units granted on April 1, 2026
PSU grant 1
10,667 units
Performance stock units granted on April 1, 2026
RSU grant 2
8,089 units
Additional restricted stock units granted on April 1, 2026
PSU grant 2
8,090 units
Additional performance stock units granted on April 1, 2026
RSU grant 3
4,779 units
Restricted stock units with vesting through 2030
PSU grant 3
4,780 units
Performance stock units tied to 12-quarter margin target
Gifted shares
1,075 shares
Common stock gifted on May 15, 2024
Corrected indirect holdings
146,127 shares
Correct beneficial ownership of common stock by trust
Key Terms
Restricted Stock Units, Performance Stock Units, non-GAAP operating margin, bona fide gift, +2 more
6 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.
Performance Stock Units financial
"Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated 2004 Equity Incentive Plan"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
non-GAAP operating margin financial
"based on Microchip's cumulative non-GAAP operating margin over a period of 4 quarters"
Non-GAAP operating margin is a way companies show how much profit they make from their main business activities, excluding certain expenses or income they consider unusual or non-recurring. It helps investors see how well the company is performing in its normal operations, without the effects of one-time costs or gains that might distort the picture.
bona fide gift financial
"transaction_code_description: "Bona fide gift""
beneficial ownership financial
"however, the reporting owner correct beneficial ownership is 146,127 shares"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Equity Incentive Plan financial
"granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
FAQ
What insider transactions did Microchip Technology (MCHP) report for Richard Simoncic?
The filing shows equity awards and a prior gift. On April 1, 2026, Simoncic received multiple restricted stock unit and performance stock unit grants. It also records a bona fide gift of 1,075 common shares on May 15, 2024, held indirectly through a trust.
How many restricted stock units did the COO of Microchip Technology receive?
Richard Simoncic received several restricted stock unit grants. These cover 10,667 units, 8,089 units, and 4,779 units, each representing one share of Microchip Technology common stock. The units vest over quarterly schedules between May 15, 2027 and May 15, 2030, subject to continued service.
How are Microchip Technology performance stock units for the COO structured?
The performance stock units represent rights to common shares based on cumulative non-GAAP operating margin. Targets are 30.5%, 31.0% and 31.5% over periods ending March 31, 2027, 2028 and 2029. Earned units vest in four installments or in full on specified 2027–2030 vesting dates.
When do the new Microchip Technology RSU grants to the COO vest?
Certain restricted stock units vest in four equal quarterly installments on May 15, 2027, August 15, 2027, November 15, 2027 and February 15, 2028. Additional RSUs vest on similar quarterly dates in 2028–2029, while another RSU grant vests entirely on May 15, 2030.
What correction to beneficial ownership did Microchip Technology disclose in this Form 4?
The filing corrects previously reported indirect holdings. A prior Form 4 listed 159,862 common shares, but the correct beneficial ownership is 146,127 common shares held indirectly, as reflected in account statements. This adjustment aligns reported figures with actual trust account records.
What is the nature of the COO’s May 2024 Microchip Technology stock transfer?
The Form 4 reports a bona fide gift of 1,075 shares of Microchip Technology common stock on May 15, 2024. These shares are held indirectly by a trust, and the transaction is coded as a gift, not an open-market sale or purchase.