Stephen V. Drehobl - Jan 2, 2024 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
Jan 2, 2024
Transactions value $
$0
Form type
4
Date filed
1/31/2024, 01:25 PM
Previous filing
Nov 17, 2023
Next filing
Feb 20, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding MCHP Common Stock 88.4K Jan 2, 2024 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 +2.64K $0.00 2.64K Jan 2, 2024 Common Stock 2.64K Direct F1, F2
transaction MCHP Performance Stock Units Award $0 +2.64K $0.00 2.64K Jan 2, 2024 Common Stock 2.64K Direct F3, F4
* 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 February 15, 2028 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 December 31, 2026. 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 42.0% 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 February 15, 2028 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.