What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2022-11-22 compared with 2021-12-03 · 97 added, 79 removed, 257 unchanged (41% of the section changed)

18 unchanged sentences

Based on this assessment, our management concluded that, as of October 29, 2022, our internal control over financial reporting is effective based on those criteria.

Management excluded from its assessment of the Company's internal control over financial reporting as of October 30, 2021, the internal control over financial reporting of Maxim Integrated Products, Inc.

(Maxim), which was acquired by the Company on August 26, 2021.

This exclusion is consistent with guidance issued by the SEC that an assessment of a recently acquired business may be omitted from the scope of management's report on internal control over financial reporting in the year of acquisition.

Total assets and net liabilities of Maxim as of October 30, 2021 (excluding goodwill and other intangible assets, which were included in management's assessment of internal control over financial reporting as of October 30, 2021) were approximately $4,155.2 million and $423.9 million, respectively.

Maxim represented $558.8 million of our consolidated net revenues for the year ended October 30, 2021.

See a discussion of this acquisition in Note 6, Acquisitions, of the Notes to the Consolidated Financial Statements contained in Item 8 of this Annual Report on Form 10-K.

Our independent registered public accounting firm that audited the financial statements included in this annual report has issued an attestation report on our internal control over financial reporting.

2 unchanged sentences

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

The Board of Directors and Shareholders

Analog Devices, Inc.

To the Shareholders and the Board of Directors of Analog Devices, Inc.

Opinion on Internal Control Over Financial Reporting

2 unchanged sentences

(the Company) maintained, in all material respects, effective internal control over financial reporting as of October 29, 2022, based on the COSO criteria.

As indicated in the accompanying Management’s Report on Internal Control Over Financial Reporting, management’s assessment of and conclusion on the effectiveness of internal control over financial reporting did not include the internal controls of Maxim Integrated Products, Inc., which is included in the 2021 consolidated financial statements of the Company and constituted $4,155.2 million of total assets and $423.9 million of net liabilities, respectively, as of October 30, 2021 and $558.8 million of revenues for the year then ended.

Our audit of internal control over financial reporting of the Company also did not include an evaluation of the internal control over financial reporting of Maxim Integrated Products, Inc.

We also have audited, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), the consolidated balance sheets of Analog Devices, Inc.

as of October 30, 2021 and October 31, 2020, the related consolidated statements of income, comprehensive income, shareholders’ equity and cash flows for each of the three years in the period ended October 30, 2021, and the related notes and financial statement schedule listed in the Index at Item 15(a)(2) and our report dated December 3, 2021 expressed an unqualified opinion thereon.

as of October 29, 2022 and October 30, 2021, the related consolidated statements of income, comprehensive income, shareholders’ equity and cash flows for each of the three years in the period ended October 29, 2022, and the related notes and financial statement schedule listed in the Index at Item 15(a)(2) and our report dated November 22, 2022 expressed an unqualified opinion thereon.

Basis for Opinion

16 unchanged sentences

Boston, Massachusetts

December 3, 2021

November 22, 2022

(d) Changes in Internal Controls over Financial Reporting.

5 unchanged sentences

DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

Information required by this item relating to our directors and nominees is contained under the caption “Proposal 1 — Election of Directors” contained in our 2022 proxy statement to be filed with the U.S.

Information required by this item is contained in our 2023 proxy statement to be filed with the U.S.

Securities and Exchange Commission (the SEC) within 120 days after October 29, 2022 and is incorporated herein by reference.

Information required by this item relating to our executive officers is contained under the caption “INFORMATION ABOUT OUR EXECUTIVE OFFICERS” in Part I of this Annual Report on Form 10-K and is incorporated herein by reference.

If applicable, information required by this item relating to compliance with Section 16(a) of the Securities Exchange Act of 1934 will be contained under the caption “Delinquent Section 16(a) Reports” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

We have adopted a written code of business conduct and ethics that applies to our principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions and have posted it in the Corporate Governance section of our website which is located at www.analog.com .

1 unchanged sentence

During fiscal 2022, we made no material change to the procedures by which shareholders may recommend nominees to our Board of Directors, as described in our 2022 proxy statement.

Information required by this item relating to the audit committee of our Board of Directors is contained under the caption “Corporate Governance — Board of Directors Meetings and Committees — Audit Committee” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

EXECUTIVE COMPENSATION

Information required by this item is contained under the captions “Corporate Governance — Director Compensation” and “Information About Executive Compensation” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

Information required by this item is contained in our 2023 proxy statement to be filed with the SEC within 120 days after October 29, 2022 and is incorporated herein by reference.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

Information required by this item relating to security ownership of certain beneficial owners and management is contained under the captions “Security Ownership of Certain Beneficial Owners” and “Security Ownership of Directors and Executive Officers”in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

Information required by this item relating to securities authorized for issuance under equity compensation plans is contained under the caption “Information About Executive Compensation — Securities Authorized for Issuance Under Equity Compensation Plans” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

Information required by this item is contained in our 2023 proxy statement to be filed with the SEC within 120 days after October 29, 2022 and is incorporated herein by reference.

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Information required by this item relating to transactions with related persons is contained under the caption “Corporate Governance — Certain Relationships and Related Transactions” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

Information required by this item relating to director independence is contained under the caption “Corporate Governance — Determination of Independence” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

PRINCIPAL ACCOUNTING FEES AND SERVICES

Information required by this item is contained under the caption “Proposal 4 — Ratification of Selection of Independent Registered Public Accounting Firm” in our 2022 proxy statement to be filed with the SEC within 120 days after October 30, 2021 and is incorporated herein by reference.

Information required by this item is contained in our 2023 proxy statement to be filed with the SEC within 120 days after October 29, 2022 and is incorporated herein by reference.

PRINCIPAL ACCOUNTANT FEES AND SERVICES

Our independent registered accounting firm is Ernst & Young , Boston, Massachusetts (PCAOB ID:

Information required by this item is contained in our 2023 proxy statement to be filed with the SEC within 120 days after October 29, 2022 and is incorporated herein by reference.

EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

2 unchanged sentences

The following consolidated financial statements are included in Item 8 of this Annual Report on Form 10-K:

— Consolidated Statements of Income for the years ended October 30, 2021, October 31, 2020 and November 2, 2019

— Consolidated Statements of Comprehensive Income for the years ended October 30, 2021, October 31, 2020 and November 2, 2019

— Consolidated Statements of Income for the years ended October 29, 2022, October 30, 2021 and October 31, 2020

— Consolidated Statements of Comprehensive Income for the years ended October 29, 2022, October 30, 2021 and October 31, 2020

— Consolidated Balance Sheets as of October 29, 2022 and October 30, 2021

— Consolidated Statements of Shareholders’ Equity for the years ended October 30, 2021, October 31, 2020 and November 2, 2019

— Consolidated Statements of Cash Flows for the years ended October 30, 2021, October 31, 2020 and November 2, 2019

— Consolidated Statements of Shareholders’ Equity for the years ended October 29, 2022, October 30, 2021 and October 31, 2020

— Consolidated Statements of Cash Flows for the years ended October 29, 2022, October 30, 2021 and October 31, 2020

Financial Statement Schedules

20 unchanged sentences

4.2 Second Supplemental Indenture, dated as of March 18, 2013, between Maxim Integrated Products, Inc.

and Wells Fargo Bank, National Association , as trustee , filed as exhibit 4.1 to Maxim Integrated Products, Inc.'s Current Report on Form 8-K (File No.

and Wells Fargo Bank, National Association, as trustee (including the form of note contained therein), filed as exhibit 4.1 to Maxim Integrated Products, Inc.'s Current Report on Form 8-K (File No.

1-34192) as filed with the Commission on March 21, 2013 and incorporated herein by reference.

3 unchanged sentences

4.4 Supplemental Indenture, dated as of June 3, 2013, by and between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee , filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the form of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on June 3, 2013 and incorporated herein by reference.

4.5 Supplemental Indenture, dated December 14, 2015, between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee , filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the forms of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on December 14, 2015 and incorporated herein by reference.

4.6 Supplemental Indenture, dated December 5, 2016, between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee , filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the forms of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on December 5, 2016 and incorporated herein by reference.

4.7 Fourth Supplement al Indenture, dated as of June 15, 2017, between Maxim Integrated Products, Inc.

and Wells Fargo Bank, National Association, as trustee , filed as exhibit 4.1 to Maxim Integrated Products, Inc.'s Current Report on Form 8-K (File No.

4.7 Fourth Supplemental Indenture, dated as of June 15, 2017, between Maxim Integrated Products, Inc.

and Wells Fargo Bank, National Association, as trustee (including the form of note contained therein), filed as exhibit 4.1 to Maxim Integrated Products, Inc.'s Current Report on Form 8-K (File No.

1-34192) as filed with the Commission on June 20, 2017 and incorporated herein by reference.

4.8 Supplemental Indenture, dated March 12, 2018, between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee , filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the forms of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on March 12, 2018 and incorporated herein by reference.

4.9 Supplemental Indenture, dated April 8, 2020, between Analog Devices and The Bank of New York Mellon Trust Company, N.A., as trustee (including the form of note contained therein), filed as exhibit 4.2 to the Company’s Current Report on Form 8-K (File No.

4.9 Supplemental Indenture, dated April 8, 2020, between Analog Devices , Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the form of note contained therein), filed as exhibit 4.2 to the Company’s Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on April 8, 2020 and incorporated herein by reference.

4.10 Supplemental Indenture, dated October 5, 2021, between Analog Devices and The Bank of New York Mellon Trust Company, N.A., as trustee (including the forms of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

4.10 Supplemental Indenture, dated October 5, 2021, between Analog Devices , Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the forms of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on October 5, 2021 and incorporated herein by reference.

4.11 Description of Registrant's Securities , filed as exhibit 4.6 to the Company's Annual Report on Form 10-K for the fiscal year ended November 2, 2019 (File No.

4.11 Supplemental Indenture, dated September 15, 2022, between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the form of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on September 15, 2022 and incorporated herein by reference.

4.12 Supplemental Indenture, dated as of October 7, 2022, between Analog Devices, Inc.

and The Bank of New York Mellon Trust Company, N.A., as trustee (including the form of note contained therein), filed as exhibit 4.2 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on October 7, 2022 and incorporated herein by reference.

4.13 Fifth Supplemental Indenture, dated as of October 7, 2022, between Maxim Integrated Products, Inc.

and Computershare Trust Company, N.A., as successor to Wells Fargo Bank, National Association, as trustee, filed as exhibit 4.4 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on October 7, 2022 and incorporated herein by reference.

4.14 Registration Rights Agreement, dated as of October 7, 2022, between Analog Devices, Inc.

and TD Securities (USA) LLC.

filed as exhibit 4.5 to the Company's Current Report on Form 8-K (File No.

1-7819) as filed with the Commission on October 7, 2022, and incorporated herein by reference.

4.15 Description of the Registrant's Securities , filed as exhibit 4.6 to the Company's Annual Report on Form 10-K for the fiscal year ended November 2, 2019 (File No.

1-7819) as filed with the Commission on November 26, 2019 and incorporated herein by reference.

29 unchanged sentences

1-7819) as filed with the Commission on February 18, 2014 and incorporated herein by reference.

*10.11 Linear Technology Corporation Amended and Restated 2005 Equity Incentive Plan , filed as Exhibit 4.1 to the Post-Effective Amendment No.

1 on Form S-8 to the Company's Registration Statement on Form S-4 (File No.

333-213454) as filed with the Commission on March 15, 2017 and incorporated herein by reference.

*10.11 Analog Devices, Inc.

16 unchanged sentences

1-7819) as filed with the Commission on February 20, 2019 and incorporated herein by reference.

*10.20 Form of Analog Devices, Inc.

Equity Award Conversion Notice to Linear employees , filed as exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 29, 2017 (File No.

1-7819) as filed with the Commission on May 31, 2017 and incorporated herein by reference.

*10.19 Form of Linear Integration Performance Restricted Stock Unit Agreement for Employees for usage under the Analog Devices, Inc.

30 unchanged sentences

1-7819) as filed with the Commission on February 17, 2021 and incorporated herein by reference.

†10.36 Amended and Restated 1996 Stock Incentive Plan .

†10.37 Form of Global Restricted Stock Unit Agreement for usage under the Amended and Restated 1996 Stock Incentive Plan .

†10.38 Form of Global Non-Qualified Stock Option Agreement for usage under the Amended and Restated 1996 Stock Incentive Plan .

*10.39 202 1 Executive Performance Incentive Plan , filed as exhibit 10.28 to the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2020 (File No.

1-7819) as filed with the Commission on November 24, 2020 and incorporated herein by reference.

†10.40 2022 First and Second Fiscal Quarters Executive Performance Incentive Plan .

*10.34 Form of Restricted Stock Unit Agreement for Non-Employee Directors for usage under the Company’s 2020 Equity Incentive Plan adopted December 7, 2021, filed as exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended January 29, 2022 (File No.

1-7819) as filed with the Commission on February 16, 2022 and incorporated herein by reference.

*10.35 Form of Global Restricted Stock Unit Agreement for Employees for usage under the Company’s 2020 Equity Incentive Plan adopted December 7, 2021, filed as exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended January 29, 2022 (File No.

1-7819) as filed with the Commission on February 16, 2022 and incorporated herein by reference.

*10.36 Form of Relative Total Shareholder Return Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted December 7, 2021 , filed as exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended January 29, 2022 (File No.

1-7819) as filed with the Commission on February 16, 2022 and incorporated herein by reference.

*10.37 Form of Financial Metric Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted December 7, 2021, filed as exhibit 10.5 to the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended January 29, 2022 (File No.

1-7819) as filed with the Commission on February 16, 2022 and incorporated herein by reference.

*10.38 Form of EVP Global Restricted Stock Unit Agreement for Employees for usage under the Company’s 2020 Equity Incentive Plan adopted March 7, 2022, filed as exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2022 (File No.

1-7819) as filed with the Commission on May 18, 2022 and incorporated herein by reference.

*10.39 Form of EVP Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted March 7, 2022, filed as exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2022 (File No.

1-7819) as filed with the Commission on May 18, 2022 and incorporated herein by reference.

*10.40 Form of Relative Total Shareholder Return Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted April 4, 2022, filed as exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2022 (File No.

1-7819) as filed with the Commission on May 18, 2022 and incorporated herein by reference.

*10.41 ADI Executive Performance Incentive Plan , filed as exhibit 10.6 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2022 (File No.

1-7819) as filed with the Commission on May 18, 2022 and incorporated herein by reference.

*10.42 Form of Executive Relative Total Shareholder Return Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted June 6, 2022, filed as exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 30, 2022 (File No.

1-7819) as filed with the Commission on August 17, 2022 and incorporated herein by reference.

*10.43 Form of Executive Financial Performance Restricted Stock Unit Agreement for Employees for usage under the Company's 2020 Equity Incentive Plan adopted June 6, 2022, filed as exhibit 10.2 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended July 30, 2022 (File No.

1-7819) as filed with the Commission on August 17, 2022 and incorporated herein by reference.

*10.44 Amended and Restated 1996 Stock Incentive Plan , filed as exhibit 10.36 to the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2021 (File No.

1-7819) as filed with the Commission on December 3, 2021 and incorporated herein by reference.

*10.45 Form of Global Restricted Stock Unit Agreement for usage under the Amended and Restated 1996 Stock Incentive Plan , filed as exhibit 10.37 to the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2021 (File No.

1-7819) as filed with the Commission on December 3, 2021 and incorporated herein by reference.

*10.46 Form of Global Non-Qualified Stock Option Agreement for usage under the Amended and Restated 1996 Stock Incentive Plan , filed as exhibit 10.38 to the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2021 (File No.

1-7819) as filed with the Commission on December 3, 2021 and incorporated herein by reference.

*10.47 Form of Global Restricted Stock Unit Agreement for Employees for usage under the Company’s 1996 Stock Incentive Plan adopted December 7, 2021, filed as exhibit 10.3 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended January 29, 2022 (File No.

1-7819) as filed with the Commission on February 16, 2022 and incorporated herein by reference.

*10.48 Form of Employee Retention Agreement , filed as exhibit 10.1 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended May 5, 2012 (File No.

6 unchanged sentences

1-7819) as filed with the Commission on November 22, 2017 and incorporated herein by reference.

*10.45 Severance Agreement and Release between Analog Devices, Inc.

and Steven Pietkiewicz, dated February 15, 2021 , filed as exhibit 10.9 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended January 30, 2021 (File No.

1-7819) as filed with the Commission on February 17, 2021 and incorporated herein by reference.

*10.52 Maxim Integrated Products, Inc.

10 unchanged sentences

1-7819) as filed with the Commission on June 23, 2021 and incorporated herein by reference.

*10.56 Analog Devices, Inc.

2022 Employee Stock Purchase Plan, included as Appendix B to the Company’s definitive proxy statement on Schedule 14A (File No.

001-07819) as filed with the Securities and Exchange Commission on January 21, 2022 and incorporated herein by reference.

*10.57 Offer Letter for Gregory Bryant dated December 14, 2021 filed as exhibit 10.4 to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended April 30, 2022 (File No.

1-7819) as filed with the Commission on May 18, 2022 and incorporated herein by reference.

*10.58 2022 First and Second Fiscal Quarters Executive Performance Incentive Plan filed as exhibit 10.40 to the Company's Annual Report on Form 10-K for the fiscal year ended October 30, 2021 (File No.

1-7819) as filed with the Commission on December 3, 2021 and incorporated herein by reference.

†21 Subsidiaries of the Company .

18 unchanged sentences

Attached as Exhibit 101 to this report are the following formatted in iXBRL (Inline Extensible Business Reporting Language):

(i) Consolidated Statements of Income for the years ended October 30, 2021, October 31, 2020 and November 2, 2019, (ii) Consolidated Balance Sheets as of October 30, 2021 and October 31, 2020, (iii) Consolidated Statements of Shareholders’ Equity for the years ended October 30, 2021, October 31, 2020 and November 2, 2019, (iv) Consolidated Statements of Comprehensive Income for the years ended October 30, 2021, October 31, 2020 and November 2, 2019, (v) Consolidated Statements of Cash Flows for the years ended October 30, 2021, October 31, 2020 and November 2, 2019, (vi) Notes to Consolidated Financial Statements for the years ended October 30, 2021, October 31, 2020 and November 2, 2019.

(i) Consolidated Statements of Income for the years ended October 29, 2022, October 30, 2021 and October 31, 2020, (ii) Consolidated Balance Sheets as of October 29, 2022 and October 30, 2021, (iii) Consolidated Statements of Shareholders’ Equity for the years ended October 29, 2022, October 30, 2021 and October 31, 2020, (iv) Consolidated Statements of Comprehensive Income for the years ended October 29, 2022, October 30, 2021 and October 31, 2020, (v) Consolidated Statements of Cash Flows for the years ended October 29, 2022, October 30, 2021 and October 31, 2020 and (vi) Notes to Consolidated Financial Statements for the years ended October 29, 2022, October 30, 2021 and October 31, 2020.

ANALOG DEVICES, INC.

4 unchanged sentences

SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS

Years ended October 30, 2021, October 31, 2020 and November 2, 2019

Years ended October 29, 2022, October 30, 2021 and October 31, 2020

(dollar amounts in thousands)

1 unchanged sentence

End of Period

Accounts Receivable Reserves and Allowances:

Year ended November 2, 2019 $ 2,284 $ 13,979 $ — $ 7,876 $ 8,387

Year ended October 31, 2020 $ 8,387 $ 1,318 $ — $ 5,355 $ 4,350

Year ended October 30, 2021 $ 4,350 $ 6,065 $ — $ 7,757 $ 2,658

Valuation Allowance for Deferred Tax Asset:

Year ended November 2, 2019 $ 82,280 $ 34,069 $ — $ — $ 116,349

Year ended October 31, 2020 $ 116,349 $ 37,622 $ 159 $ — $ 154,130

Year ended October 30, 2021 $ 154,130 $ 13,714 $ 147,590 (1) $ — $ 315,434

Year ended October 29, 2022 $ 315,434 $ 29,738 $ ( 6,067 ) $ — $ 339,105

_______________________________________

3 unchanged sentences

ANALOG DEVICES, INC.

December 3, 2021

November 22, 2022

/s/ Vincent Roche

Vincent Roche

President and Chief Executive Officer

Chief Executive Officer and Chair of the Board of Directors

(Principal Executive Officer)

1 unchanged sentence

Name Title Date

/s/ Ray Stata Chairman of the Board December 3, 2021

/s/ Vincent Roche President and Chief Executive

Officer and Director

(Principal Executive Officer) December 3, 2021

/s/ Vincent Roche Chief Executive Officer and Chair of the Board of Directors

(Principal Executive Officer) November 22, 2022

Vincent Roche

/s/ Prashanth Mahendra-Rajah Senior Vice President, Finance and

/s/ Prashanth Mahendra-Rajah Executive Vice President, Finance and

Chief Financial Officer

(Principal Financial Officer) December 3, 2021

(Principal Financial Officer) November 22, 2022

Prashanth Mahendra-Rajah

1 unchanged sentence

Accounting Officer

(Principal Accounting Officer) December 3, 2021

(Principal Accounting Officer) November 22, 2022

Michael Sondel

Champy Director December 3, 2021

/s/ André Andonian Director November 22, 2022

André Andonian

Champy Director November 22, 2022

/s/ Anantha P.

Chandrakasan Director December 3, 2021

/s/ Tunç Doluca Director December 3, 2021

Evans Director December 3, 2021

Chandrakasan Director November 22, 2022

/s/ Tunç Doluca Director November 22, 2022

Evans Director November 22, 2022

/s/ Edward H.

Frank Director December 3, 2021

Frank Director November 22, 2022

/s/ Laurie H.

Glimcher Director December 3, 2021

Golz Director December 3, 2021

Glimcher Director November 22, 2022

Golz Director November 22, 2022

Name Title Date

/s/ Mercedes Johnson Director December 3, 2021

/s/ Mercedes Johnson Director November 22, 2022

Mercedes Johnson

Little Director December 3, 2021

/s/ Kenton J.

Sicchitano Director December 3, 2021

/s/ Susie Wee Director December 3, 2021

Sicchitano Director November 22, 2022

/s/ Ray Stata Director November 22, 2022

/s/ Susie Wee Director November 22, 2022

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures