secwatch.observer — SEC 8-K summary
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Issuer:     SEMTECH CORP (SMTC)
CIK:        0000088941
Form:       8-K
Filed at:   2023-05-30T23:59:59+00:00
Accession:  0001193125-23-156620
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Semtech appoints Paul H. Pickle as President & CEO effective June 2023
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- Pickle to become President & CEO between June 9-30, 2023, succeeding Mohan Maheswaran who will serve as consultant up to 16 months.
- Pickle previously CEO of Lantronix (revenue grew ~3x, market cap doubled); also former President/COO at Microsemi.
- Compensation: $650k base salary, annual bonus target 100% (max 200%) of salary, and $5M equity grant (half RSUs, half PSUs).
- Maheswaran's retirement effective day before transition; he also retires from board on that date.
- Pickle appointed to board effective on transition date, filling seat vacated by Maheswaran.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/88941/000119312523156620/0001193125-23-156620-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/88941/000119312523156620/d406852d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-156620

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