Paul H. Pickle - Mar 27, 2024 Form 4 Insider Report for SEMTECH CORP (SMTC)

Role: President and CEO, Director
Signature: /s/Paul H. Pickle by Mark Lin under Power of Attorney dated October 6, 2023 (Copy On File)
Stock symbol: SMTC
Transactions as of: Mar 27, 2024
Transactions value $: $0
Form type: 4
Date filed: 3/29/2024, 01:33 PM
Previous filing: Jan 3, 2024
Next filing: Apr 2, 2024

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SMTC	Restricted Stock Unit	Award	$0	+20.9K		$0.00	20.9K	Mar 27, 2024	Common Stock	20.9K		Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each stock unit represents the contingent right to receive one share of Semtech common stock.
F2	The reporting person was granted performance stock units by Semtech in Semtech's fiscal year 2024 that are eligible to vest based on Semtech's attainment of pre-established revenue and non-GAAP operating income targets over a period of one, two and three years, and the satisfaction of a service condition. This transaction represents the determination of the number of units eligible to vest based on the actual achievement of the performance condition with respect to the first year in the performance period. The vesting and payment of the award with respect to the first year in the performance period will occur on January 26, 2025, subject to the satisfaction of the service condition.

Content

Each stock unit represents the contingent right to receive one share of Semtech common stock.

The reporting person was granted performance stock units by Semtech in Semtech's fiscal year 2024 that are eligible to vest based on Semtech's attainment of pre-established revenue and non-GAAP operating income targets over a period of one, two and three years, and the satisfaction of a service condition. This transaction represents the determination of the number of units eligible to vest based on the actual achievement of the performance condition with respect to the first year in the performance period. The vesting and payment of the award with respect to the first year in the performance period will occur on January 26, 2025, subject to the satisfaction of the service condition.