SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or Section 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 13, 2023
(Exact name of registrant as specified in its charter)
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|Common Stock, par value $0.01 per share||SMTC||The Nasdaq Global Select Market|
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Emerging growth company ☐
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|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.
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.
|Date: September 14, 2023||By:|
|Name:||Emeka N. Chukwu|
|Title:||Chief Financial Officer|