50 unchanged sentences
Other Information.
+Added: Appointment of New Director
+Added: On February 3, 2025, the Board of Directors (the “Board”) of Power Integrations, Inc.
+Added: appointed Gregg Lowe to serve as a director beginning on February 15, 2025.
+Added: Lowe’s appointment was recommended to the Board by the Nominating and Governance Committee of the Board.
+Added: Lowe was the president and chief executive officer of Wolfspeed, Inc., the leader in silicon carbide solutions for high power applications, from September 2017 until November 2024.
+Added: Lowe previously served as president and chief executive officer of Freescale Semiconductor from June 2012 until its merger with NXP in 2015.
+Added: Lowe served as senior vice president and manager of the analog business for Texas Instruments where he helped to direct the acquisition of National Semiconductor.
+Added: During his 27 years at Texas Instruments, Mr.
+Added: Lowe served in a succession of roles including various leadership positions across field sales, automotive sales, marketing and integrated circuits where he oversaw a global team with design centers and customers across the globe.
+Added: Lowe currently serves on the boards of Silicon Laboratories, Inc., The Rock & Roll Hall of Fame Museum and North Carolina A&T University.
+Added: Lowe has a bachelor of science degree in electrical engineering from Rose-Hulman Institute of Technology in Terre Haute, Indiana and is a graduate from the Stanford Executive Program at Stanford University.
+Added: Upon commencement of services to the Board, and in consideration of services to us as a director, Mr.
+Added: Lowe will be granted an equity award in the form of restricted stock units of our common stock (the "Initial Grant") under the Power Integrations 2016 Incentive Award Plan (the “2016 Plan”) with an aggregate fair value of approximately $45,000.
+Added: The Initial Grant will vest on the date of our 2025 annual meeting of stockholders (currently scheduled for May 15, 2025), provided Mr.
+Added: Lowe is still serving as a director on that date.
+Added: Notwithstanding the foregoing, the Initial Grant would be deemed fully vested upon the occurrence of a "Change of Control," as such term is defined in the 2016 Plan.
+Added: Beginning on July 1, 2025, Mr.
+Added: Lowe will receive annual equity compensation pursuant to the Directors Equity Compensation Program consistent with our other non-employee directors, which is a grant of restricted stock units, under the 2016 Plan, with an aggregate value of $200,000, which would vest in full effective immediately prior to the commencement of our first annual meeting of stockholders in the year following the year of the grant date, provided that he is still providing services to the Company as a director and provided, further, that 100% of the shares subject to such equity award would be deemed fully vested upon the occurrence of a Change of Control.
+Added: As a non-employee director, Mr.
+Added: Lowe will also receive $11,250 per quarter for service on the Board, prorated for his start date of service until June 30, 2025.
+Added: Starting July 1, 2025, the amount will increase to $15,000 per quarter.
+Added: We intend to enter into an indemnity agreement with Mr.
+Added: Lowe that is in the form of indemnity agreements executed by other members of the Board.
Rule 10b5-1 Trading Plans
10 unchanged sentences
● Information regarding procedures by which stockholders may recommend nominees to our board of directors is set forth under the caption “Nominating and Governance Committee” under “Proposal 1 Election of Directors.”
+Added: We have adopted an insider trading policy governing the purchase, sale and/or other dispositions of the Company’s securities by directors, officers and employees that is designed to promote compliance with insider trading laws, rules and regulations, as well as procedures designed to further the foregoing purposes.
+Added: A copy of our insider trading policy is filed as an exhibit to this Annual Report on Form 10-K.
+Added: In addition, from time to time, the Company may engage in transactions in Company securities.
+Added: It is the Company’s intent to comply with applicable laws and regulations relating to insider trading.
Executive Compensation.
175 unchanged sentences
KG, dated December 23, 2009.
+Added: Amendment Number Twelve to Wafer Supply Agreement, effective as of February 26, 2024 by Power Integrations International Ltd.
+Added: and Seiko Epson Corporation
+Added: Exhibit Description
+Added: Incorporation by Reference
+Added: Exhibit/ Appendix
+Added: Insider Trading Policy
List of subsidiaries
4 unchanged sentences
Certification of Chief Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
−Removed: Exhibit Description
−Removed: Incorporation by Reference
−Removed: Exhibit/Appendix
Certification of Chief Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
15 unchanged sentences
The certifications attached as Exhibits 32.1 and 32.2 accompanying this Form 10-K, are not deemed filed with the SEC, and are not to be incorporated by reference into any filing of Power Integrations, Inc.
−Removed: 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-K, irrespective of any general incorporation language contained in such filing.
+Added: under the Securities Act of 1933, as amended, or the
+Added: Securities Exchange Act of 1934, as amended, whether made before or after the date of this Form 10-K, irrespective of any general incorporation language contained in such filing .
Form 10-K Summary
26 unchanged sentences
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.