3 unchanged sentences
(Unaudited - In thousands)
−Removed: September 27, 2025
+Added: April 4, 2026
December 31, 2025
22 unchanged sentences
(Unaudited - In thousands)
−Removed: September 27, 2025
+Added: April 4, 2026
December 31, 2025
12 unchanged sentences
Total liabilities
+Added: Stockholders' equity:
Class B convertible common stock
1 unchanged sentence
Retained earnings
−Removed: Treasury stock (at cost)
−Removed: Accumulated other comprehensive income (loss)
+Added: Accumulated other comprehensive income
Total liabilities and equity
4 unchanged sentences
Fiscal quarters ended
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Costs of products sold
Selling, general, and administrative expenses
−Removed: Restructuring and severance costs
−Removed: Operating income (loss)
+Added: Operating income
Other income (expense):
3 unchanged sentences
Income tax expense (benefit)
−Removed: net earnings attributable to noncontrolling interests
−Removed: Net loss attributable to Vishay stockholders
−Removed: Basic loss per share attributable to Vishay stockholders
−Removed: Diluted loss per share attributable to Vishay stockholders
−Removed: Weighted average shares outstanding - basic
−Removed: Weighted average shares outstanding - diluted
−Removed: Cash dividends per share
−Removed: See accompanying notes.
−Removed: VISHAY INTERTECHNOLOGY, INC.
−Removed: Consolidated Statements of Comprehensive Income
−Removed: (Unaudited - In thousands)
−Removed: Fiscal quarters ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: Other comprehensive income, net of tax
−Removed: Pension and other post-retirement actuarial items
−Removed: Foreign currency translation adjustment
−Removed: Other comprehensive income
−Removed: Comprehensive income (loss)
−Removed: comprehensive income attributable to noncontrolling interests
−Removed: Comprehensive income (loss) attributable to Vishay stockholders
−Removed: See accompanying notes.
−Removed: VISHAY INTERTECHNOLOGY, INC.
−Removed: Consolidated Condensed Statements of Operations
−Removed: (Unaudited - In thousands, except per share amounts)
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: Costs of products sold
−Removed: Selling, general, and administrative expenses
−Removed: Restructuring and severance costs
−Removed: Operating income
−Removed: Other income (expense):
−Removed: Interest expense
−Removed: Total other income (expense)
−Removed: Income before taxes
−Removed: Income tax expense
Net earnings (loss)
−Removed: net earnings attributable to noncontrolling interests
−Removed: Net earnings (loss) attributable to Vishay stockholders
−Removed: Basic earnings (loss) per share attributable to Vishay stockholders
−Removed: Diluted earnings (loss) per share attributable to Vishay stockholders
+Added: Basic earnings (loss) per share
+Added: Diluted earnings (loss) per share
Weighted average shares outstanding - basic
5 unchanged sentences
(Unaudited - In thousands)
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: Fiscal quarters ended
+Added: April 4, 2026
+Added: March 29, 2025
Net earnings (loss)
−Removed: Other comprehensive income, net of tax
+Added: Other comprehensive income (loss), net of tax
Pension and other post-retirement actuarial items
Foreign currency translation adjustment
−Removed: Other comprehensive income
−Removed: Comprehensive income
−Removed: comprehensive income attributable to noncontrolling interests
−Removed: Comprehensive income attributable to Vishay stockholders
+Added: Other comprehensive income (loss)
+Added: Comprehensive income (loss)
See accompanying notes.
2 unchanged sentences
(Unaudited - In thousands)
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: Three fiscal months ended
+Added: April 4, 2026
+Added: March 29, 2025
Operating activities
6 unchanged sentences
Stock compensation expense
−Removed: Change in U.S.
−Removed: transition tax liability
−Removed: Change in repatriation tax liability
−Removed: Net change in operating assets and liabilities, net of effects of businesses acquired
+Added: Net change in operating assets and liabilities
Net cash provided by operating activities
2 unchanged sentences
Proceeds from sale of property and equipment
−Removed: Purchase of businesses, net of cash acquired
Purchase of short-term investments
3 unchanged sentences
Financing activities
−Removed: Principal payments on long-term debt
Net proceeds from revolving credit facility
−Removed: Debt issuance and amendment costs
Dividends paid to common stockholders
Dividends paid to Class B common stockholders
−Removed: Repurchase of common stock held in treasury
+Added: Repurchase of common stock
Cash withholding taxes paid when shares withheld for vested equity awards
−Removed: Other financing activities
−Removed: Net cash used in financing activities
+Added: Net cash provided by financing activities
Effect of exchange rate changes on cash and cash equivalents
−Removed: Net decrease in cash and cash equivalents
+Added: Net increase (decrease) in cash and cash equivalents
Cash and cash equivalents at beginning of period
4 unchanged sentences
(Unaudited - In thousands, except share and per share amounts)
−Removed: Excess of Par
−Removed: Treasury Stock
−Removed: Comprehensive
−Removed: Income (Loss)
−Removed: Stockholders'
−Removed: Noncontrolling
−Removed: Balance at December 31, 2023
−Removed: Other comprehensive income (loss)
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 371,055 shares)
−Removed: Dividends declared ($ 0.10
−Removed: Stock compensation expense
−Removed: Repurchase of common stock held in treasury ( 565,420 shares)
−Removed: Balance at March 30, 2024
−Removed: Other comprehensive income (loss)
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 19,809 shares)
−Removed: Dividends declared ($ 0.10
−Removed: Stock compensation expense
−Removed: Repurchase of common stock held in treasury ( 554,587 shares)
−Removed: Balance at June 29, 2024
−Removed: Net earnings (loss)
−Removed: Other comprehensive income
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 4,149 shares)
−Removed: Dividends declared ($ 0.10
−Removed: Stock compensation expense
−Removed: Repurchase of common stock held in treasury ( 577,325 shares)
−Removed: Balance at September 28, 2024
−Removed: Continues on following page.
−Removed: VISHAY INTERTECHNOLOGY, INC.
−Removed: Consolidated Condensed Statements of Equity (continued)
−Removed: (Unaudited - In thousands, except share and per share amounts)
−Removed: Excess of Par
+Added: Class B Convertible Common Stock
+Added: Capital in Excess of Par Value
+Added: Retained Earnings
Treasury Stock
−Removed: Comprehensive
−Removed: Income (Loss)
−Removed: Stockholders'
−Removed: Noncontrolling
+Added: Accumulated Other Comprehensive Income (Loss)
Balance at December 31, 2024
1 unchanged sentence
Other comprehensive income
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 506,430 shares)
+Added: Issuance of stock and related tax withholdings for vested restricted stock units ( 506,430
Dividends declared ($ 0.10 per share)
2 unchanged sentences
Balance at March 29, 2025
−Removed: Other comprehensive income
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 35,366 shares)
−Removed: Dividends declared ($ 0.10
−Removed: Stock compensation expense
−Removed: Balance at June 28, 2025
−Removed: Net earnings (loss)
−Removed: Other comprehensive income
−Removed: Issuance of stock and related tax withholdings for vested restricted stock units ( 4,453 shares)
−Removed: Dividends declared ($ 0.10
+Added: Balance at December 31, 2025
+Added: Other comprehensive income (loss)
+Added: Issuance of stock and related tax withholdings for vested restricted stock units ( 509,897
+Added: Dividends declared ($ 0.10 per share)
Stock compensation expense
−Removed: Balance at September 27, 2025
+Added: Balance at April 4, 2026
See accompanying notes.
4 unchanged sentences
(“Vishay” or the “Company”) have been prepared in
−Removed: accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for presentation of financial position, results of operations, and cash flows required by accounting principles generally accepted in
−Removed: the United States (“GAAP”) for complete financial statements.
−Removed: The information furnished reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair summary of the financial position, results of operations,
−Removed: and cash flows for the interim periods presented.
+Added: accordance with the instructions to Form 10-Q and therefore do not include all information and footnotes necessary for presentation of financial position, results of operations, and cash flows required by accounting principles generally accepted in the
+Added: United States (“GAAP”) for complete financial statements.
+Added: The information furnished reflects all normal recurring adjustments which are, in the opinion of management, necessary for a fair summary of the financial position, results of operations, and
+Added: cash flows for the interim periods presented.
The financial statements should be read in conjunction with the consolidated financial statements filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
−Removed: results of operations for the fiscal quarter and nine fiscal months ended September 27, 2025 are not necessarily indicative of the results to be expected for the full year.
+Added: The results of
+Added: operations for the three fiscal months ended April 4, 2026 are not necessarily indicative of the results to be expected for the full year.
The Company reports interim financial information for 13-week periods beginning on a Sunday and ending on a Saturday, except for the first fiscal quarter,
which always begins on January 1, and the fourth fiscal quarter, which always ends on December 31.
−Removed: The four fiscal quarters in 2025 end on March 29, 2025, June 28, 2025, September 27, 2025, and December 31, 2025, respectively.
−Removed: The four fiscal
−Removed: quarters in 2024 ended on March 30, 2024, June 29, 2024, September 28, 2024, and December 31, 2024, respectively.
−Removed: Selling, General, and Administrative Expenses
−Removed: Selling, general, and administrative expenses for the nine fiscal months ended September 27, 2025 include an $ 11,293 benefit recognized in the second fiscal quarter of 2025 upon the favorable resolution of a contingency.
+Added: The four fiscal quarters in 2026 end on April 4, 2026, July 4, 2026, October 3, 2026, and December 31, 2026, respectively.
+Added: The four fiscal quarters in
+Added: 2025 ended on March 29, 2025, June 28, 2025, September 27, 2025, and December 31, 2025, respectively.
+Added: Accounts Receivable
+Added: The Company sells certain of its non-U.S.
+Added: accounts receivable on a non-recourse
+Added: basis to third-party financial institutions.
+Added: These transactions are recognized as sales of receivables because effective control over, and risk related to, the receivables is transferred to the buyers.
+Added: The Company had $ 125,324 and $ 62,175 outstanding on its
+Added: revolving accounts receivable securitization program as of April 4, 2026 and December 31, 2025, respectively.
+Added: The cash proceeds are presented as cash provided by operating activities in the consolidated condensed statement of cash flows.
+Added: sale of the accounts receivable, the Company collects payment from the customers and remits it to the third-party financial institutions.
+Added: Recently Adopted Accounting Guidance
+Added: In July 2025, the FASB issued ASU No.
+Added: 2025-05, Measurement of Credit Losses for Accounts Receivable and
+Added: Contract Assets .
+Added: The ASU allows entities to elect a practical expedient that assumes the current conditions as of the balance sheet date do not change the remaining life of the asset when developing reasonable and supportable forecasts as
+Added: part of estimating expected credit losses.
+Added: The Company adopted the ASU effective January 1, 2026.
+Added: The Company elected the practical expedient made available by the ASU.
+Added: The adoption of the ASU did not impact the Company's financial position,
+Added: results of operations, or cash flows.
+Added: In September 2025, the FASB issued ASU No.
+Added: 2025-06, Targeted Improvements to the Accounting for Internal-Use
+Added: The ASU requires entities to capitalize software costs when management has authorized and committed to funding the software project and it is probable that the project will be completed and the software will be used to perform the
+Added: function intended.
+Added: The Company prospectively adopted the ASU effective January 1, 2026.
+Added: The adoption of the ASU did not impact the Company's financial position, results of operations, or cash flows.
Reclassifications
8 unchanged sentences
Foreign currency translation
−Removed: Balance at September 27, 2025
+Added: Balance at December 31, 2025
+Added: Foreign currency translation
+Added: Balance at April 4, 2026
Severance payment terms vary by country, but are generally paid in a lump sum at cessation of employment.
1 unchanged sentence
made over an extended period.
−Removed: Substantially all of the liability is current and is included in other accrued expenses in the accompanying consolidated condensed balance sheet.
−Removed: NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
−Removed: (dollars in thousands, except per share amounts)
−Removed: Note 3 – Leases
−Removed: The net right of use assets and lease liabilities recognized on the consolidated condensed balance sheets for the Company's operating leases were as
−Removed: September 27, 2025
−Removed: December 31, 2024
−Removed: Right of use assets
−Removed: Operating Leases
−Removed: Buildings and improvements
−Removed: Machinery and equipment
−Removed: Current lease liabilities
−Removed: Operating Leases
−Removed: Buildings and improvements
−Removed: Machinery and equipment
−Removed: Long-term lease liabilities
−Removed: Operating Leases
−Removed: Buildings and improvements
−Removed: Machinery and equipment
−Removed: Total lease liabilities
−Removed: Lease expense is classified in the statements of operations based on asset use.
−Removed: Total lease cost recognized on the consolidated condensed statements of
−Removed: operations is as follows:
−Removed: Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: Lease expense
−Removed: Operating lease expense
−Removed: Short-term lease expense
−Removed: Variable lease expense
−Removed: Total lease expense
−Removed: The Company paid $ 21,824 and $ 22,618 for its operating leases in the nine
−Removed: fiscal months ended September 27, 2025 and September 28, 2024, respectively, which are included in operating cash flows on the consolidated condensed statements of cash flows.
−Removed: The weighted-average remaining lease term for the Company's operating leases is
−Removed: 8.6 years and the weighted-average discount rate is 6.7 % as of September 27, 2025.
−Removed: The undiscounted future lease payments for the Company's operating lease liabilities are as follows:
−Removed: September 27, 2025
−Removed: 2025 (excluding the nine fiscal months ended September 27, 2025)
−Removed: The undiscounted future lease payments presented in the table above include payments through the term of the lease, which may include periods beyond the
−Removed: noncancellable term.
−Removed: The difference between the total payments above and the lease liability balance is due to the discount rate used to calculate lease liabilities.
+Added: Substantially all of the liability is current and is included in other accrued expenses in the accompanying consolidated condensed balance sheets.
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
2 unchanged sentences
The provision for income taxes consists of provisions for federal, state, and foreign income taxes.
−Removed: The effective tax rates for the periods ended September 27, 2025 and September 28, 2024
+Added: The effective tax rates for the periods ended April 4, 2026 and March 29, 2025
reflect the Company’s expected tax rate on reported income before income tax and tax adjustments.
2 unchanged sentences
consolidated income tax rate is a composite rate reflecting the Company’s earnings and the applicable tax rates in the various jurisdictions where the Company operates.
−Removed: In December 2021, the Organization for Economic Co-operation and Development (“OECD”) issued model rules for a new global minimum tax (“Pillar Two”).
−Removed: Various jurisdictions around the world have passed legislation to enact Pillar Two and certain Pillar Two rules are in effect for 2025.
−Removed: The United States has not adopted Pillar Two.
−Removed: The Company does not anticipate a material increase in income tax
−Removed: expense for 2025 due to Pillar Two and the Company is continuing to monitor Pillar Two developments and the potential future impact on its operations and income tax expense.
−Removed: On July 4, 2025, H.R.
−Removed: 1 (“the Act”), a tax reconciliation act, was enacted into law in the United States.
−Removed: not change the U.S.
−Removed: federal tax rate and most of the provisions of the Act are effective for tax years beginning after December 31, 2025.
−Removed: The Company has recorded no change to the deferred U.S.
−Removed: taxes directly related to the Act.
−Removed: allows the deduction in tax year 2025, or in tax years 2025 and 2026, of previously capitalized research and development costs.
−Removed: The Company anticipates that these additional tax deductions will preclude the utilization of a U.S.
−Removed: credit ("FTC") that is due to expire in 2028.
−Removed: As an indirect result of this change in tax law, the Company recorded a valuation allowance of $ 9,420
−Removed: on the deferred tax asset related to this FTC.
−Removed: In the third fiscal quarter of 2025, the Federal Republic of Germany enacted tax legislation decreasing the federal tax rate beginning in 2028 by 1%
−Removed: per year for five years.
−Removed: T he Company recorded deferred tax expense of $ 4,237 to reduce the carrying
−Removed: amount of deferred tax assets in Germany based on these new rates.
−Removed: The Company repatriated $ 75,000
−Removed: of accumulated earnings to the United States in the second fiscal quarter of 2025 and paid withholding taxes, in Israel, of $ 9,375 .
−Removed: The withholding tax expense for the repatriation was recorded in prior years.
−Removed: During the nine fiscal months ended September 27, 2025, the liabilities for unrecognized tax benefits decreased $ 682 on a net basis, primarily due to statute expirations, settlements, and payments, partially offset by accruals and foreign currency adjustments for the current period.
+Added: During the three fiscal months ended April 4, 2026, the liabilities for unrecognized tax benefits decreased $ 908 on a net basis, primarily due to settlements and foreign currency adjustments, partially offset by accruals for the current period.
Note 4 – Long-Term Debt
Long-term debt consists of the following:
−Removed: September 27, 2025
+Added: April 4, 2026
December 31, 2025
1 unchanged sentence
Convertible senior notes, due 2030
−Removed: Convertible senior notes, due 2030
Deferred financing costs
Less current portion
−Removed: The following table summarizes some key facts and terms regarding the outstanding convertible senior notes due 2030 as of September 27, 2025:
+Added: The following table summarizes some key facts and terms regarding the outstanding convertible senior notes as of April 4, 2026:
Issuance date
2 unchanged sentences
September 15, 2030
−Removed: Principal amount as of September 27, 2025
+Added: Principal amount as of April 4, 2026
Cash coupon rate (per annum)
2 unchanged sentences
of the current effective conversion price (per share)
−Removed: The convertible senior notes due 2025 matured on June 15, 2025 .
−Removed: Upon maturity, $ 41,911 aggregate principal amount of the convertible senior notes due 2025 were settled in
−Removed: cash, funded by borrowings on the revolving credit facility.
−Removed: No shares were issued to settle the convertible senior notes due 2025.
−Removed: Deferred financing costs are recognized as non-cash interest expense.
−Removed: Non-cash interest expense was $ 1,195 and $ 3,613 for the fiscal quarter and nine fiscal months ended September 27, 2025,
−Removed: respectively, and $ 1,249 and $ 3,675
−Removed: for the fiscal quarter and nine fiscal months ended September 28, 2024.
+Added: financing costs are recognized as non-cash interest expense.
+Added: Non-cash interest expense was $ 1,195 and $ 1,223 for the fiscal quarters ended April 4, 2026 and March 29, 2025, respectively.
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
1 unchanged sentence
Note 5 – Stockholders' Equity
−Removed: In 2022, the Company's Board of Directors adopted a Stockholder Return Policy that will remain in effect until such time as the Board votes to amend or
−Removed: rescind the policy.
−Removed: The Stockholder Return Policy calls for the Company to return a prescribed amount of cash flows on an annual basis.
−Removed: The Company intends to return such amounts directly, in the form of dividends, or indirectly, in the form of
−Removed: stock repurchases.
−Removed: The following table summarizes activity pursuant to this policy:
+Added: The following table summarizes activity pursuant to the Company's Stockholder Return Policy:
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Dividends paid to stockholders
Stock repurchases
−Removed: The repurchased shares are being held as treasury stock.
−Removed: The number of shares of common stock being held as treasury stock was 10,662,155 and 9,933,595 as of September 27, 2025 and December 31, 2024, respectively.
+Added: There were no shares of common stock
+Added: held as treasury stock as of April 4, 2026 and December 31, 2025.
Note 6 – Revenue Recognition
1 unchanged sentence
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Beginning balance
3 unchanged sentences
Ending balance
+Added: See disaggregated revenue information in Note 10.
Note 7 – Accumulated Other Comprehensive Income (Loss)
2 unchanged sentences
Other comprehensive income (loss) before reclassifications
−Removed: Other comprehensive income before reclassifications, net of tax
+Added: Other comprehensive income (loss) before reclassifications, net of tax
Amounts reclassified out of AOCI
1 unchanged sentence
Net other comprehensive income (loss)
−Removed: Balance at September 27, 2025
+Added: Balance at April 4, 2026
Reclassifications of pension and other post-retirement actuarial items out of AOCI are included in the computation of net periodic benefit cost.
3 unchanged sentences
Note 8 – Pensions and Other Postretirement Benefits
−Removed: The Company maintains various retirement benefit plans.
−Removed: The service cost component of net periodic pension cost is classified in costs of products sold or
−Removed: selling, general, and administrative expenses on the consolidated condensed statements of operations based on the respective employee's function.
−Removed: The other components of net periodic pension cost are classified as other expense on the consolidated
−Removed: condensed statements of operations.
+Added: The service cost component of net periodic pension cost is classified in costs of products sold or selling, general, and administrative expenses on the
+Added: consolidated condensed statements of operations based on the respective employee's function.
+Added: The other components of net periodic pension cost are classified as other expense on the consolidated condensed statements of operations.
Defined Benefit Pension Plans
−Removed: The following table shows the components of the net periodic pension cost for the third fiscal quarters of 2025 and 2024 for the Company’s defined benefit pension plans:
+Added: The following table shows the components of the net periodic pension cost for the first fiscal quarters of 2026 and 2025 for the Company’s defined benefit pension plans:
Fiscal quarter ended
−Removed: September 27, 2025
+Added: April 4, 2026
Fiscal quarter ended
−Removed: September 28, 2024
−Removed: Net service cost
−Removed: Interest cost
−Removed: Expected return on plan assets
−Removed: Amortization of prior service cost
−Removed: Amortization of losses (gains)
−Removed: Curtailment and settlement losses
−Removed: Net periodic benefit cost
−Removed: The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 27, 2025 and September 28, 2024 for the Company’s defined benefit pension plans:
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: Nine fiscal months ended
−Removed: September 28, 2024
+Added: March 29, 2025
Net service cost
2 unchanged sentences
Amortization of prior service cost
−Removed: Amortization of losses (gains)
+Added: Amortization of losses
Curtailment and settlement losses
Net periodic benefit cost
−Removed: NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
−Removed: (dollars in thousands, except per share amounts)
Other Postretirement Benefits
−Removed: The following table shows the components of the net periodic benefit cost for the third fiscal quarters of 2025 and 2024 for the Company’s other postretirement benefit plans:
+Added: The following table shows the components of the net periodic benefit cost for the first fiscal quarters of 2026 and 2025 for the Company’s other postretirement benefit plans:
Fiscal quarter ended
−Removed: September 27, 2025
+Added: April 4, 2026
Fiscal quarter ended
−Removed: September 28, 2024
−Removed: Interest cost
−Removed: Amortization of losses (gains)
−Removed: Net periodic benefit cost
−Removed: The following table shows the components of the net periodic pension cost for the nine fiscal months ended September 27, 2025 and September 28, 2024 for the Company’s other postretirement benefit plans:
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: Nine fiscal months ended
−Removed: September 28, 2024
+Added: March 29, 2025
Interest cost
6 unchanged sentences
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Restricted stock units ("RSUs")
Phantom stock units
−Removed: The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at September 27, 2025 (amortization periods in years) :
+Added: The following table summarizes unrecognized compensation cost and the weighted average remaining amortization periods at April 4, 2026 (amortization periods in years) :
Restricted stock units
3 unchanged sentences
Restricted Stock Units
−Removed: RSU activity under the Company's stock incentive programs as of September 27, 2025
−Removed: and changes during the nine fiscal months then ended are presented below (number of RSUs in thousands) :
+Added: RSU activity as of April 4, 2026 and
+Added: changes during the three fiscal months then ended are presented below (number of RSUs in thousands) :
Fair Value per
1 unchanged sentence
Cancelled or forfeited
−Removed: Outstanding at September 27, 2025
−Removed: Expected to vest at September 27, 2025
−Removed: * Employees in certain countries are granted equity-linked awards that will be
−Removed: settled in cash and are accounted for as liability awards.
−Removed: The liability awards are not material.
−Removed: The number of RSUs granted excludes these awards.
+Added: Outstanding at April 4, 2026
+Added: Expected to vest at April 4, 2026
* The number of RSUs vested includes
shares that the Company withheld on behalf of employees to satisfy the statutory tax withholding requirements.
−Removed: The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance and market criteria between
−Removed: the established target and maximum levels.
−Removed: RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in
+Added: The number of performance-based RSUs that are scheduled to vest increases ratably based on the achievement of defined performance and market criteria
+Added: between the established target and maximum levels.
+Added: RSUs with performance-based and market-based vesting criteria are expected to vest as follows (number of RSUs in thousands) :
January 1, 2027
3 unchanged sentences
Phantom Stock Units
−Removed: Phantom stock unit activity as of September 27, 2025
−Removed: and changes during the nine fiscal months then ended are presented below (number of phantom stock units in thousands) :
+Added: The following table summarizes the Company's phantom stock units activity (number of phantom stock units in thousands) :
Fair Value per
1 unchanged sentence
Dividend equivalents issued
−Removed: Outstanding at September 27, 2025
+Added: Outstanding at April 4, 2026
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
1 unchanged sentence
Note 10 – Segment Information
−Removed: The following tables set forth business segment information:
+Added: The following tables set forth reportable business segment
Optoelectronic
−Removed: Fiscal quarter ended September 27, 2025 :
+Added: Fiscal quarter ended April 4, 2026 :
Cost of products sold (excluding depreciation)
2 unchanged sentences
Segment operating expenses
−Removed: Segment operating income (loss)
+Added: Segment operating income
Total depreciation expense
Capital expenditures
−Removed: Total assets as of September 27, 2025:
−Removed: Fiscal quarter ended September 28, 2024:
+Added: Total assets as of April 4, 2026:
+Added: Fiscal quarter ended March 29, 2025:
Cost of products sold (excluding depreciation)
5 unchanged sentences
Capital expenditures
−Removed: Total assets as of September 28, 2024 :
+Added: Total assets as of March 29, 2025:
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
(dollars in thousands, except per share amounts)
−Removed: Optoelectronic
−Removed: Nine fiscal months ended September 27, 2025 :
−Removed: Cost of products sold (excluding depreciation)
−Removed: Depreciation expense in costs of products sold
−Removed: Total costs of products sold
−Removed: Segment operating expenses
−Removed: Segment operating income (loss)
−Removed: Total depreciation expense
−Removed: Capital expenditures
−Removed: Nine fiscal months ended September 28, 2024:
−Removed: Cost of products sold (excluding depreciation)
−Removed: Depreciation expense in cost of products sold
−Removed: Total cost of products sold
−Removed: Segment operating expenses
−Removed: Segment operating income
−Removed: Total depreciation expense
−Removed: Capital expenditures
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Reconciliation:
Segment Operating Income
−Removed: Restructuring and Severance Costs
Unallocated Selling, General, and Administrative Expenses
−Removed: Consolidated Operating Income (Loss)
+Added: Consolidated Operating Income
Unallocated Other Income (Expense)
Consolidated Income (Loss) Before Taxes
−Removed: NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
−Removed: (dollars in thousands, except per share amounts)
−Removed: The Company has a broad line of products that it sells to original equipment manufacturers ("OEMs"), electronic manufacturing services ("EMS") companies,
−Removed: and independent distributors.
−Removed: The distribution of sales by channel is shown below:
+Added: The Company has a broad line of products that it sells to OEMs, EMS companies, and independent distributors.
+Added: The distribution of sales by customer type is
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
EMS companies
2 unchanged sentences
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Total Revenue
−Removed: The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, telecommunications, computing,
−Removed: consumer products, power supplies, military and aerospace, and medical end markets.
+Added: The Company generates substantially all of its revenue from product sales to end customers in the industrial, automotive, military and aerospace,
+Added: healthcare, power supplies, telecommunications, consumer products, and computing end markets.
Sales by end market are presented below:
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Military and Aerospace
Total Revenue
+Added: *Power supplies, telecommunications, consumer products, and computing.
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
1 unchanged sentence
Note 11 – Earnings Per Share
−Removed: The following table sets forth the computation of basic and diluted earnings (loss) per share attributable to Vishay stockholders (shares in thousands) :
+Added: The following table sets forth the computation of basic and diluted earnings (loss) per share (shares in thousands) :
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: Net earnings (loss) attributable to Vishay stockholders
+Added: April 4, 2026
+Added: March 29, 2025
+Added: Net earnings (loss)
Denominator for basic earnings (loss) per share:
1 unchanged sentence
Outstanding phantom stock units
−Removed: Adjusted weighted average shares
+Added: Adjusted weighted average shares - basic
Effect of dilutive securities:
3 unchanged sentences
Adjusted weighted average shares - diluted
−Removed: Basic earnings (loss) per share attributable to Vishay stockholders
−Removed: Diluted earnings (loss) per share attributable to Vishay stockholders
+Added: Basic earnings (loss) per share
+Added: Diluted earnings (loss) per share
Diluted earnings (loss) per share for the periods presented do not reflect the following weighted average potential common shares that would have an
1 unchanged sentence
Fiscal quarters ended
−Removed: Nine fiscal months ended
−Removed: September 27, 2025
−Removed: September 28, 2024
−Removed: September 27, 2025
−Removed: September 28, 2024
+Added: April 4, 2026
+Added: March 29, 2025
Restricted stock units
−Removed: If the average market price of Vishay common stock is less than the effective
−Removed: conversion price of the convertible senior notes due 2030, no shares are included in the diluted earnings per share computation for the convertible senior notes due 2030.
−Removed: Pursuant to the indenture governing the convertible senior notes due 2030, Vishay will satisfy its conversion obligations by paying $1 cash per $1 principal amount of converted notes and settle any additional amounts due in cash
−Removed: and/or common stock.
−Removed: In connection with the issuance of the convertible senior notes due 2030, the Company entered into capped call transactions, which were not included in the
−Removed: calculation of diluted earnings per share as their effect would have been anti-dilutive.
−Removed: The capped calls are intended to reduce the potential dilution to the Company's common stock in the event that at the time of conversion of the convertible senior notes due 2030 the Company's common stock price exceeds the conversion price of the convertible senior notes due 2030.
+Added: If the average market price of Vishay common stock is less than the effective conversion price of the convertible senior notes due 2030, no shares are
+Added: included in the diluted earnings (loss) per share computation for the convertible senior notes due 2030.
+Added: Pursuant to the indenture governing the convertible senior notes due 2030, Vishay will satisfy its conversion obligations by paying $1 cash
+Added: per $1 principal amount of converted notes and settle any additional amounts due in cash and/or common stock.
+Added: Similarly, the convertible senior notes due 2025 were considered, but not included, in the diluted earnings per share computation for any
+Added: period presented or any period they were outstanding.
+Added: In connection with the issuance of the convertible senior notes due 2030, the Company entered into capped call transactions, which were not included in
+Added: the calculation of diluted earnings per share as their effect would have been anti-dilutive.
+Added: The capped calls are intended to reduce the potential dilution to the Company's common stock in the event that at the time of conversion of the
+Added: convertible senior notes due 2030 the Company's common stock price exceeds the conversion price of the convertible senior notes due 2030 .
NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
2 unchanged sentences
The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis:
−Removed: September 27, 2025
+Added: April 4, 2026
Assets held in rabbi trusts
21 unchanged sentences
The fair value measurement of the contingent consideration payments is considered a Level 3 measurement within the fair value
−Removed: The fair value of the long-term debt, excluding the derivative liabilities and deferred financing costs, at September 27, 2025 and December 31, 2024 is approximately $ 874,800 and $ 850,600 , respectively,
−Removed: compared to its carrying value, excluding the deferred financing costs, of $ 939,000 and $ 927,911 , respectively.
+Added: The fair value of the long-term debt, excluding deferred financing costs, at April 4, 2026 and December 31, 2025 is approximately $ 978,000 and $ 896,100 , respectively,
+Added: compared to its carrying value, excluding deferred financing costs, of $ 1,000,000 and $ 969,000 , respectively.
The Company estimates the fair value of its long-term debt using a combination of quoted market prices for similar financing arrangements and expected
2 unchanged sentences
(dollars in thousands, except per share amounts)
−Removed: At September 27, 2025 and December 31, 2024, the Company’s short-term investments were comprised of time deposits with financial institutions that have maturities that exceed 90
+Added: At April 4, 2026 and December 31, 2025, the Company’s short-term investments were comprised of time deposits with financial institutions that have maturities that exceed 90
days from the date of acquisition;
10 unchanged sentences
Interest on the securities is recognized as interest income when earned.
−Removed: At September 27, 2025 and December 31, 2024, the Company’s cash and cash equivalents were comprised of demand deposits, time deposits with maturities of three months or less when
+Added: At April 4, 2026 and December 31, 2025, the Company’s cash and cash equivalents were comprised of demand deposits, time deposits with maturities of three months or less when
purchased, and money market funds.
2 unchanged sentences
to maturity, the fair value of the Company's cash, cash equivalents, and held-to-maturity short-term investments approximate the carrying amounts reported in the consolidated condensed balance sheets.
−Removed: The Company enters into forward contracts with highly-rated financial institutions to mitigate the foreign currency risk associated with intercompany loans
−Removed: denominated in a currency other than the legal entity's functional currency.
−Removed: The notional amount of the forward contract was $ 25,000 as of
−Removed: September 27, 2025.
−Removed: The Company has not designated the forward contract as a hedge for accounting purposes, and as such the change in the fair value of the contract is recognized in the consolidated condensed statements of operations as a component
−Removed: of other income (expense).
−Removed: The Company estimates the fair value of the forward contract based on applicable and commonly used pricing models using current market information and is considered a Level 2 measurement within the fair value hierarchy.
−Removed: Due to the timing of the forward contract, the value of the forward contract was immaterial as of September 27, 2025.
−Removed: The Company does not utilize derivatives or other financial instruments for trading or other speculative purposes.
The Company’s financial instruments also include accounts receivable and accounts payable.
2 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.