SMTC 8-K
Semtech Corp (SMTC)
8-K
2025-02-24
For: 2025-02-20
View Original
Added on
April 07, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 20, 2025
(Exact name of registrant as specified in its charter)
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| (Commission File Number) | (IRS Employer Identification No.) | ||||||||||
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Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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 February 20, 2025, Semtech Corporation, a Delaware corporation (“Semtech” or the “Company”), entered into a Separation and General Release Agreement (the “Separation Agreement”) with Mark P. Russell, the Company’s Senior Vice President, Global Sales and Marketing. The Separation Agreement provides that Mr. Russell’s last day of employment with the Company will be March 6, 2025 (the “Separation Date”). The Separation Agreement also provides that the Company will pay or reimburse Mr. Russell for his premiums to continue healthcare coverage under COBRA for up to 12 months following the Separation Date. In addition, the Separation Agreement provides that the Company will, subject to Mr. Russell providing a release of claims to the Company, provide Mr. Russell with (a) a lump sum cash severance payment of $175,000, and (b) a cash bonus for fiscal year 2025 to be determined and paid as though Mr. Russell had been employed with the Company through the date that the Company generally pays cash bonuses to its executive officers for fiscal year 2025.
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: | February 24, 2025 | /s/ Mark Lin | ||||||||||||
| Name: | Mark Lin | |||||||||||||
| Title: | Chief Financial Officer | |||||||||||||