---
schema_version: "secwatch.filing_event.v1"
accession: "0001451809-23-000085"
form_type: "8-K"
ticker: "SITM"
cik: "0001451809"
company_name: "SITIME Corp"
filed_at: "2023-11-01T23:59:59+00:00"
generated_at: "2026-06-09T02:23:18.474930+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# SiTime enters $148M asset purchase & IP license with Aura; appoints new CFO

## Summary
- Agreed to buy certain Aura timing assets and license IP for ~$148M cash, plus potential $120M earnout through 2028.
- Closing expected within five business days after conditions met, no later than March 31, 2024.
- CFO Arthur Chadwick to retire effective Nov 7, 2023; Elizabeth Howe appointed as EVP & CFO starting Nov 8.
- Howe receives base salary $441K, 75% target bonus, $5.4M in RSUs vesting over 4 years, and $400K signing bonus.
- SiTime restricted from selling licensed IP products to PRC entities for 5 years after closing.

## SEC filing metadata
- accession: 0001451809-23-000085
- form_type: 8-K
- ticker: SITM
- cik: 0001451809
- company_name: SITIME Corp
- filed_at: 2023-11-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1451809/000145180923000085/0001451809-23-000085-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1451809/000145180923000085/sitm-20231030.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001451809-23-000085
- JSON: https://secwatch.observer/filing/0001451809-23-000085.json
- Plain text: https://secwatch.observer/filing/0001451809-23-000085.txt

## Key facts
- Executive change
  Elizabeth Howe was appointed as Executive Vice President and Chief Financial Officer at SITIME Corp.
  - Action: appointed
  - Role: Executive Vice President and Chief Financial Officer
  source text: On November 1, 2023, the Company announced that Elizabeth Howe, 53, will join the Company and become Executive Vice President and Chief Financial Officer on November 8, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451809/000145180923000085/0001451809-23-000085-index.htm
- Executive change
  Arthur Chadwick resigned as Executive Vice President and Chief Financial Officer at SITIME Corp.
  - Action: resigned
  - Role: Executive Vice President and Chief Financial Officer
  source text: On October 30, 2023, Arthur Chadwick, Executive Vice President and Chief Financial Officer of the Company, notified us of his decision to retire and resign from all of his officer positions with the Company and all of its subsidiaries, effective November 7, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451809/000145180923000085/0001451809-23-000085-index.htm
- Material Agreements
  SITIME Corp entered into Master Framework Agreement with Ningbo Aura Semiconductor Co., Ltd., Aura Semiconductor Pvt. Ltd., Shaoxing Yuanfang Semiconductor Co Ltd., Aura Semiconductor Limited, and Aim Core Holdings Limited valued at approximately $148 million in cash (effective 2023-10-30).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Ningbo Aura Semiconductor Co., Ltd., Aura Semiconductor Pvt. Ltd., Shaoxing Yuanfang Semiconductor Co Ltd., Aura Semiconductor Limited, and Aim Core Holdings Limited
  - Value: approximately $148 million in cash
  - Effective: 2023-10-30
  source text: On October 30, 2023, SiTime Corporation (the “Company”) entered into a Master Framework Agreement (the “Master Framework Agreement”) with Ningbo Aura Semiconductor Co., Ltd., a limited liability company incorporated under the laws of People’s Republic of China, Aura Semiconductor Pvt. Ltd., a company incorporated under the laws of India, Shaoxing Yuanfang Semiconductor Co Ltd., a limited liability company incorporated under the laws of People’s Republic of China (“PRC”), Aura Semiconductor Limited, a limited company incorporated and existing under the laws of Hong Kong, and Aim Core Holdings Limited, a company organized and existing under the laws of British Virgin Islands (each an “Aura Entity” and collectively, the “Aura Entities”), pursuant to which the Company agreed to purchase certain assets of the Aura Entities and license certain intellectual property of the Aura Entities relating to the timing products of the Aura Entities.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1451809/000145180923000085/0001451809-23-000085-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.