Stephen V. Drehobl - Oct 1, 2021 Form 4 Insider Report for MICROCHIP TECHNOLOGY INC (MCHP)

Role
Senior VP, MCU8/MCU16 BU
Signature
Deborah L. Wussler, as Attorney-in-Fact
Stock symbol
MCHP
Transactions as of
Oct 1, 2021
Transactions value $
$0
Form type
4
Date filed
10/5/2021, 05:35 PM
Previous filing
Sep 2, 2021
Next filing
Nov 17, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MCHP Common Stock 19.8K Oct 1, 2021 Direct

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 MCHP Restricted Stock Units Award $0 +973 $0.00 973 Oct 1, 2021 Common Stock 973 Direct F1, F2
transaction MCHP Performance Stock Units Award $0 +974 $0.00 974 Oct 1, 2021 Common Stock 974 Direct F3, F4
transaction MCHP Restricted Stock Units Award $0 +7.78K $0.00 7.78K Oct 1, 2021 Common Stock 7.78K Direct F1, F5
transaction MCHP Performance Stock Units Award $0 +3.9K $0.00 3.9K Oct 1, 2021 Common Stock 3.9K Direct F3, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each restricted stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock.
F2 The restricted stock units will vest in full on November 15, 2025 as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.
F3 Each performance stock unit represents a contingent right to receive one share of Microchip Technology Incorporated common stock.
F4 Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 12 quarters ending September 30, 2024. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 40.0% over the 12 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest on November 15, 2025 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.
F5 The restricted stock units vest in four quarterly installments of 974 shares beginning November 15, 2023, and eight quarterly installments of 486 shares beginning on November 15, 2024, as long as the individual remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.
F6 Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on Microchip's cumulative non-GAAP operating margin over a period of 12 quarters ending September 30, 2024. The target number of PSU shares that may be earned is reported in the table above and is based on Microchip achieving a cumulative non-GAAP operating margin of 40.0% over the 12 quarter measurement period. The actual number of shares that may be earned can be higher or lower than the target depending on Microchip's non-GAAP operating margin over the measurement period. Earned PSUs will vest ratably over eight quarters beginning on November 15, 2024 as long as the reporting person remains a service provider through the vesting date. Vested shares will be delivered to the reporting person upon vest.