Stephen V. Drehobl - May 15, 2024 Form 4 Insider Report for MICROCHIP TECHNOLOGY INC (MCHP)

Signature
Deborah L. Wussler, as Attorney-in-Fact
Stock symbol
MCHP
Transactions as of
May 15, 2024
Transactions value $
-$254,551
Form type
4
Date filed
5/17/2024, 05:03 PM
Previous filing
May 10, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MCHP Common Stock Options Exercise $361K +3.79K +4.61% $95.36 86K May 15, 2024 Direct
transaction MCHP Common Stock Tax liability -$108K -1.13K -1.32% $95.36 84.9K May 15, 2024 Direct
transaction MCHP Common Stock Options Exercise $138K +1.45K +1.7% $95.36 86.3K May 15, 2024 Direct
transaction MCHP Common Stock Tax liability -$37K -388 -0.45% $95.36 85.9K May 15, 2024 Direct
transaction MCHP Common Stock Options Exercise $186K +1.95K +2.27% $95.36 87.9K May 15, 2024 Direct
transaction MCHP Common Stock Tax liability -$50K -524 -0.6% $95.36 87.3K May 15, 2024 Direct
transaction MCHP Common Stock Sale -$744K -7.83K -8.97% $95.06 79.5K May 16, 2024 Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MCHP Restricted Stock Units Options Exercise $0 -3.79K -100% $0.00* 0 May 15, 2024 Common Stock 3.79K $95.36 Direct F1
transaction MCHP Performance Stock Units Options Exercise $0 -3.79K -100% $0.00* 0 May 15, 2024 Common Stock 3.79K $95.36 Direct F2
transaction MCHP Restricted Stock Units Options Exercise $0 -1.95K -16.69% $0.00 9.72K May 15, 2024 Common Stock 1.95K $95.36 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The restricted stock units vested in full on May 15, 2024. Vested shares were delivered to the reporting person upon vest.
F2 Each Performance Stock Unit (PSU) granted under the Microchip Technology Incorporated (Microchip) 2004 Equity Incentive Plan represents a contingent right to receive shares of Microchip common stock based on the relative total shareholder return (TSR) of Microchip common stock compared to a peer group of twenty companies over a two-year period ending on March 31, 2022. The target number of PSU shares that may be earned is reported in the table above, the minimum number of shares that may be earned is zero if Microchip's TSR is at or lower than the 25th percentile of the peer group and the maximum number of shares that may be earned is 200% of the target if Microchip's TSR is at or higher than the 75th percentile of the peer group. Earned PSUs vested on May 15, 2024. Vested shares were delivered to the reporting person upon vest.
F3 The restricted stock units vest in four quarterly installments of 1,948 shares beginning November 15, 2023, and eight quarterly installments of 972 shares beginning on November 15, 2024, as long as the individual remains a service provider through the vesting date. Vested shares were delivered to the reporting person upon vest.