Short answer
SEMTECH CORP (SMTC) filed an 8-K current report with the SEC on June 8, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers), Item 5.07 (Submission of Matters to a Vote of Security Holders). Expanded severance coverage beyond change-in-control events, increasing potential termination-related costs for Semtech.
SEMTECH CORP 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Expanded severance coverage beyond change-in-control events, increasing potential termination-related costs for Semtech
- Eligible executives receive 1× salary plus pro-rata target bonus after qualifying termination without Cause or for Good Reason
- COBRA healthcare premiums covered for up to 12 months, alongside accelerated Nonqualified Excess Plan vesting
- Benefits conditioned on a general release and compliance with restrictive covenants
- Filing also references an amendment to the 2017 Long-Term Equity Incentive Plan, indicating additional executive compensation changes
Item 5.07 · Submission of Matters to a Vote of Security Holders
- Nine director nominees elected to serve until the 2027 Annual Meeting
- Deloitte & Touche ratified as independent auditor for fiscal 2027, with 84,825,309 votes for
- Executive compensation approved on an advisory basis, with 79,073,683 votes for
- Amended and Restated 2017 Long-Term Equity Incentive Plan approved, supporting continued equity-based compensation
- 85,271,516 shares represented, equal to 91.57% of outstanding shares and a valid quorum
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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