POWER INTEGRATIONS INC 10-Q

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS As of December 31, 2020 , we had approximately $41.3 million available for future repurchases to be executed according to predefined price/volume guidelines. In April 2021, our board of directors authorized the use of an additional $50.0 million for the repurchase of our common stock, which was announced on April 29, 2021. In the nine months ended September 30, 2021, we repurchased approximately 455,000 of our shares for approximately $36.2 million. As of September 30, 2021, we had approximately $55.1 million remaining in our repurchase program, which has no expiration date. In October 2021, our board of directors authorized the use of an additional $50.0 million for the repurchase of our common stock, with repurchases to be executed according to pre-defined price/volume guidelines. Issuer Purchases of Equity Securities The following table summarizes repurchases of our common stock during the third quarter of fiscal 2021: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Approximate ​ ​ ​ ​ ​ ​ ​ ​ Dollar Value that ​ ​ ​ ​ ​ ​ Total Number of ​ May Yet be ​ ​ ​ ​ ​ ​ Shares Purchased ​ Repurchased ​ ​ Total ​ Average ​ as Part of ​ Under the ​ ​ Number of ​ Price Paid ​ Publicly Announced ​ Plans or Program Period Shares Purchased Per Share Plans or Programs (In millions) July 1, 2021 to July 31, 2021 ​ 120,002 ​ $ 81.54 ​ 120,002 ​ $ 55.1 August 1, 2021 to August 31, 2021 ​ — ​ ​ — ​ — ​ $ 55.1 September 1, 2021 to September 30, 2021 ​ — ​ ​ — ​ — ​ $ 55.1 Total ​ 120,002 ​ ​ ​ ​ 120,002 ​ ​ ​ ​ All of the shares repurchased were pursuant to our publicly announced repurchase program. ​ 32 Table of Contents ​ ITEM 6. EXHIBITS ​ ​ ​ ​ ​ Incorporation by Reference EXHIBIT NUMBER Exhibit Description ​ Form File Number ​ Exhibit/Other Reference ​ Filing Date ​ Filed Herewith ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 3.1 ​ Restated Certificate of Incorporation ​ 10-K ​ 000-23441 ​ 3.1 ​ 2/29/2012 ​ ​ 3.2 ​ Amended and Restated Bylaws ​ 8-K ​ 000-23441 ​ 3.1 ​ 4/26/2013 ​ ​ 4.2 ​ Reference is made to Exhibits 3.1 to 3.2 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 31.1 ​ Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 31.2 ​ Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 32.1** ​ Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 32.2** ​ Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.INS ​ XBRL Instance Document - The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.SCH ​ Inline XBRL Taxonomy Extension Schema Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.CAL ​ Inline XBRL Taxonomy Extension Calculation Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.DEF ​ Inline XBRL Taxonomy Extension Definition Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.LAB ​ Inline XBRL Taxonomy Extension Label Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 101.PRE ​ Inline XBRL Taxonomy Extension Presentation Linkbase Document ​ ​ ​ ​ ​ ​ ​ ​ ​ X 104 ​ Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ 33 Table of Contents ​ ​ All references in the table above to previously filed documents or descriptions are incorporating those documents and descriptions by reference thereto. † Portions of this exhibit (indicated by asterisks) have been omitted as being immaterial and is the type of information that Power Integrations, Inc. treats as private or confidential . ** The certifications attached as Exhibits 32.1 and 32.2 accompanying this Form 10-Q, are not deemed filed with the SEC, and are not to be incorporated by reference into any filing of Power Integrations, Inc. under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-Q, irrespective of any general incorporation language contained in such filing. ​ 34 Table of Contents ​ 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 thereunto duly authorized. ​ ​ POWER INTEGRATIONS, INC. ​ ​ ​ ​ Dated: October 28, 2021 By: /s/ S ANDEEP N AYYAR ​ ​ ​ Sandeep Nayyar ​ ​ ​ Chief Financial Officer ​ ​ ​ (Duly Authorized Officer, Principal Financial Officer and Principal Accounting Officer) ​ ​ ​ 35