Silicon Laboratories Inc 8-K/A, filed Jan 31, 2024
Silicon Laboratories Inc. (SLAB)
About this 8-K/A
Silicon Laboratories Inc filed this 8-K/A on January 31, 2024, reporting on events of December 5, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM
(Amendment No. 1)
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
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Explanatory Note
On December 11, 2023, Silicon Laboratories Inc. (“the Company”) filed a Current Report on Form 8-K (the “Original Report”) to report the promotion of Mark Mauldin to Interim Chief Financial Officer. As of the date of the Original Report, the terms of Mr. Mauldin’s compensation in connection with such promotion had not been determined. This Amendment No. 1 to the Original Report is being filed solely for the purpose of providing the terms of such compensation.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 5, 2023, John Hollister, the Chief Financial Officer and Senior Vice President of Silicon Laboratories Inc. (the “Company”), delivered his notice of resignation effective as of February 2, 2024. The Company appointed Mark Mauldin, the Company’s Chief Accounting Officer, to serve as the Company’s interim Chief Financial Officer beginning on February 2, 2024.
On January 25, 2024, the Compensation Committee of the Board of Directors of Silicon Laboratories approved the terms of compensation for Mr. Mauldin. The Committee approved the following incremental compensation for Mr. Mauldin in connection with his appointment as interim Chief Financial Officer: a cash bonus of $50,000 effective February 2, 2024, and a grant of restricted stock units effective as of February 15, 2024 with a grant date value of $500,000 (which shall vest in three equal annual installments contingent upon Mr. Mauldin’s continued service through each such date). Such compensation is in addition to his normal annual salary of $335,000, target bonus of 40% of his annual salary, and grant of restricted stock units effective as of May 15, 2024 with a grant date value of $500,000 (which shall vest in three equal annual installments contingent upon Mr. Mauldin’s continued service through each such date).
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
104 Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
SIGNATURE
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.
| SILICON LABORATORIES INC. | ||
| January 31, 2024 | /s/ Néstor Ho | |
| Date | Néstor Ho | |
| Vice President and | ||
| Chief Legal Officer |