Note 8 - Related Party Transactions

9 Months Ended

Jan. 01, 2017

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 8. RELATED PARTY TRANSACTIONS

Alonim Investments Inc.

Alonim Investments Inc. (“Alonim”) through its wholly-owned affiliate, Rodfre Holdings LLC, owns approximately

7.6

 million shares, or approximately

16%,

of our outstanding common stock as of

January

1,

2017.

As such, Alonim is our largest stockholder. Future Electronics Inc. (“Future”) is also an affiliate of Alonim and our largest distributor. One of our directors is an executive officer of Future. Our related party transactions primarily involved sales to Future.

Related party net sales as a percentage of our total net sales for the periods indicated below were as follows:

	Three Months Ended				Nine Months Ended
	January 1,		December 27,		January 1,		December 27,
	2017		2015		2017		2015
Future and affiliates of Alonim		31%		33%		28%		25%

Related party receivables as a percentage of our net accounts receivables were as follows as of the dates indicated below:

	January 1,		March 27,
	2017		2016
Future and affiliates of Alonim		28%		17%

Related party expenses for marketing promotional materials reimbursed were not significant for the

three

months and

nine

months ended

January

1,

2017

or

December

27,

2015.

FusionOps, Inc.

The former CEO of FusionOps, Inc. is a member of the Board of Directors for Exar. For the

three

and

nine

months ended

December

27,

2015,

we paid

$28,200

and

$81,400,

respectively to FusionOps, Inc. to build an application for internal data analysis. Through

July

2016

in fiscal year

2017,

we paid

$82,200

to FusionOps, Inc. We recorded these amounts as expenses in the periods in which such costs were incurred. Our board member who was previously affiliated with FusionOps, Inc., resigned from FusionOps, Inc. in

July

2016.

Interim President and Chief Executive Officer (“Interim CEO”)

Richard Leza served as our interim CEO through

May

31,

2016

when the Board of Directors appointed him as Executive Chairman and Technology Advisor. For the

nine

months ended

January

1,

2017

we paid

$0.1

million and issued

8,000

fully vested restricted stock units with a grant date fair value of

$52,600

for his services provided. On

June

30,

2016,

Mr. Leza resigned as our Executive Chairman and Technology Advisor.