POWER INTEGRATIONS INC 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities. Our common stock trades on the Nasdaq Global Select Market under the symbol “POWI”. As of January 31, 2023, there were approximately 61 stockholders of record. Because brokers and other institutions hold many of our shares on behalf of stockholders, we are unable to estimate the total number of stockholders represented by these record holders. Issuer Purchases of Equity Securities From time to time our board of directors has authorized the use of funds to repurchase shares of our common stock. In both April 2021 and October 2021, our board of directors authorized the use of $50.0 million for the repurchase of our common stock, with repurchases to be executed according to pre-defined price/volume guidelines . In January, February, April and October 2022, our board of directors authorized the use of an additional $100.0 million, $50.0 million, $75.0 million and $100.0 million, respectively, for the repurchase of our common stock, with repurchases to be executed according to pre-defined price/volume guidelines. As of December 31, 2022, we had approximately $81.3 million available for future stock repurchases. Authorization of future stock-repurchase programs is at the discretion of our board of directors and will depend on our financial condition, results of operations, capital requirements and business conditions as well as other factors. The following table summarizes repurchases of our common stock during the fourth quarter of fiscal 2022: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Total Number of ​ Approximate Dollar Value ​ ​ ​ ​ ​ Shares Purchased ​ that May Yet be ​ Total ​ Average ​ as Part of ​ Repurchased Under the ​ Number of ​ Price Paid ​ Publicly Announced ​ Plans or Program Period Shares Purchased ​ Per Share ​ Plans or Programs ​ (In millions) October 1, 2022 to October 31, 2022 — ​ ​ — ​ — ​ $ 100.0 November 1, 2022 to November 30, 2022 193,589 ​ $ 69.40 ​ 193,589 ​ $ 86.6 December 1, 2022 to December 31, 2022 72,898 ​ $ 72.84 ​ 72,898 ​ $ 81.3 Total 266,487 ​ ​ ​ ​ 266,487 ​ ​ ​ ​ 21 Table of Contents Performance Graph ( 1 ) The following graph shows the cumulative total return on an investment of $100 in cash on December 31, 2017, through December 31, 2022, in our common stock, the Nasdaq Composite Index, the Nasdaq Electronic Components Index and the PHLX Semiconductor Sector Index (SOX) and assuming that all dividends were reinvested. The PHLX Semiconductor Sector Index (SOX) has replaced the Nasdaq Electronic Components Index in this analysis as we believe the PHLX Semiconductor Sector Index (SOX) is a more relevant comparison for our business. Data from the Nasdaq Electronic Components Index has been included through December 31, 2022. The stockholder return shown on the graph below is not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Company/Index 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 Power Integrations, Inc. ​ 100.00 ​ 83.68 ​ 136.94 ​ 228.39 ​ 260.65 ​ 203.05 Nasdaq Composite 100.00 ​ 97.16 ​ 132.81 ​ 192.47 ​ 235.15 ​ 158.65 PHLX Semiconductor (SOX) ​ 100.00 ​ 93.95 ​ 153.39 ​ 235.71 ​ 336.71 ​ 219.26 Nasdaq Electronic Components 100.00 ​ 86.61 ​ 129.69 ​ 185.86 ​ 275.79 ​ 177.31 (1) This Section is not “soliciting material,” is not deemed “filed” with the SEC and is not to be incorporated by reference in any filing of Power Integrations under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing. ​ Item 6. [Reserved ] 22 Table of Contents