Microchip Technology Incorporated filed SEC Form 8-K: Leadership Update
$MCHP
Semiconductors
Technology
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
(Exact Name Of Registrant As Specified In Its Charter) | ||
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(480 ) 792-7200
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 1, 2025, the Board of Directors (the "Board") of Microchip Technology Incorporated, upon the recommendation from the Nominating, Governance and Sustainability Committee of the Board, appointed Rick Cassidy, Senior Vice President of Corporate Strategy Development at Taiwan Semiconductor Manufacturing Co. Ltd. (TSMC) and Chairman of TSMC Arizona, as a member of the Board, effective May 2, 2025. Mr. Cassidy has not yet been appointed to any committee of the Board. In connection with Mr. Cassidy’s appointment to the Board and upon recommendation of the Nominating, Governance and Sustainability Committee of the Board, the Board approved a resolution to increase the size of the Board from 6 to 7 directors.
There is no arrangement or understanding between Mr. Cassidy and any other person pursuant to which Mr. Cassidy was appointed as a director. There are no transactions in which Mr. Cassidy has an interest requiring disclosure under Item 404(a) of Regulation S-K.
Mr. Cassidy will participate in the Company’s standard compensation plan for non-employee directors. The standard compensation plan for non-employee directors is described in the section entitled "Director Compensation" of the Company’s definitive proxy statement on Schedule 14A, filed with the Securities and Exchange Commission on July 8, 2024.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| MICROCHIP TECHNOLOGY INCORPORATED | |||||
| Date: May 2, 2025 | By: /s/ J. Eric Bjornholt | ||||
| J. Eric Bjornholt | |||||
| Senior Vice President and Chief Financial Officer | |||||
| (Principal Financial and Accounting Officer) | |||||