Form 4: SiTime Executive Fariborz Assaderaghi Reports Acquisition of Common Stock

Fariborz Assaderaghi, an executive at SiTime Corp, reported the acquisition of common stock through restricted stock units and performance-based restricted stock units.

Summary

• On March 15, 2024, Fariborz Assaderaghi, Executive Vice President, Engineering & Technology at SiTime Corp, acquired 10,946 shares of common stock through a restricted stock unit award.
• An additional 5,473 shares were acquired through performance-based restricted stock units (PRSUs) tied to a two-year relative total stockholder return performance period.
• Another 5,473 shares were acquired through PRSUs tied to a three-year relative total stockholder return performance period.
• All shares were acquired at a price of $0.
• Following these transactions, Assaderaghi beneficially owns 112,779 shares of SiTime Corp common stock, including 105,892 shares issuable pursuant to previously reported restricted stock units and performance-based restricted stock units that have not vested.

Sentiment

Score: 6

Explanation: The document is neutral in tone, reporting a standard executive stock transaction. The acquisition of shares by an executive is generally viewed as a slightly positive signal.

Positives

• The acquisition of shares by an executive could be seen as a positive sign, indicating confidence in the company's future performance.

Future Outlook

The vesting schedule of the restricted stock units and the performance-based vesting of the PRSUs suggest a continued focus on long-term performance and stockholder value.

Industry Context

Executive stock ownership is a common practice in the semiconductor industry to align management's interests with those of shareholders.

Comparison to Industry Standards

• Stock-based compensation is a standard practice among publicly traded technology companies like SiTime, Analog Devices, and Microchip Technology.
• The vesting schedules and performance metrics associated with restricted stock units and PRSUs are generally aligned with industry norms for executive compensation.

Stakeholder Impact

• The stock acquisition could have a minor positive impact on shareholder sentiment.

Key Dates