UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On September 14, 2023, Semtech Corporation, a Delaware corporation (“Semtech” or the “Company”), announced that Gary Beauchamp, Semtech’s Executive Vice President and General Manager, Signal Integrity Products Group, will separate from employment with the Company on September 15, 2023. In connection with his separation, Mr. Beauchamp and Semtech entered into a Departure and Separation Agreement dated September 13, 2023 (the “Departure Agreement”).
Pursuant to the Departure Agreement, Mr. Beauchamp has agreed to provide transition consulting support to Semtech for a period of 12 months following his separation date and Semtech will pay Mr. Beauchamp separation benefits totaling $619,172 CAD over the consulting period. Mr. Beauchamp’s restricted stock units granted by the Company that are outstanding, subject to time/service-based (and not performance-based) vesting conditions, and scheduled to vest on or before March 31, 2024 will also accelerate and vest on Mr. Beauchamp’s separation date. The Departure Agreement also includes a general release of any claims by Mr. Beauchamp.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SEMTECH CORPORATION | ||||
Date: September 14, 2023 | By: | /s/ Emeka N. Chukwu | ||
Name: | Emeka N. Chukwu | |||
Title: | Chief Financial Officer |
Document and Entity Information |
Sep. 13, 2023 |
---|---|
Cover [Abstract] | |
Entity Registrant Name | SEMTECH CORP |
Amendment Flag | false |
Entity Central Index Key | 0000088941 |
Document Type | 8-K |
Document Period End Date | Sep. 13, 2023 |
Entity Incorporation State Country Code | DE |
Entity File Number | 001-06395 |
Entity Tax Identification Number | 95-2119684 |
Entity Address, Address Line One | 200 Flynn Road |
Entity Address, City or Town | Camarillo |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 93012-8790 |
City Area Code | 805 |
Local Phone Number | 498-2111 |
Written Communications | false |
Soliciting Material | false |
Pre Commencement Tender Offer | false |
Pre Commencement Issuer Tender Offer | false |
Security 12b Title | Common Stock, par value $0.01 per share |
Trading Symbol | SMTC |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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