Form 4: Microchip Technology COO Richard J. Simoncic Reports Stock Transactions
SEC Form 4
Richard J. Simoncic, Chief Operating Officer of Microchip Technology, reports transactions involving common stock and derivative securities, including the vesting and delivery of restricted stock units and performance stock units.
Summary
- On May 15, 2024, Richard J. Simoncic, the Chief Operating Officer of Microchip Technology, engaged in multiple transactions involving the company's common stock.
- These transactions included the vesting of restricted stock units (RSUs) and performance stock units (PSUs).
- The vested shares were delivered to Simoncic upon vesting.
- The transactions also involved the withholding of shares to cover tax obligations.
- Following these transactions, Simoncic indirectly holds 135,177 shares of Microchip Technology common stock through a trust.
- The reported transactions were executed at a price of $95.36 per share.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Future Outlook
Future vesting of restricted stock units is scheduled in quarterly installments, contingent upon continued service.
Industry Context
This filing is a routine disclosure of stock transactions by a company executive, which is common practice in publicly traded companies. It provides transparency into the executive's holdings and transactions in the company's stock.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in the executive's holdings, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| March 31, 2022 | End date for the two-year performance period for the Performance Stock Units (PSUs). |
| November 15, 2023 | Start date for the quarterly vesting installments of restricted stock units. |
| February 15, 2024 | Date of one quarterly installment of 704 shares. |
| May 15, 2024 | Date of the reported transactions, including vesting of RSUs and PSUs. |
| May 17, 2024 | Date of signature by Deborah L. Wussler, as Attorney-in-Fact. |
| November 15, 2024 | Date of one quarterly installment of 702 shares. |
| May 15, 2025 | Start date for six quarterly installments of 702 shares. |
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