Summary
Analog Devices Inc. (ADI) filed an 8-K report on February 8, 2005, detailing an amendment and restatement of its Deferred Compensation Plan. This action was taken on February 3, 2005, to ensure compliance with Section 409A of the Internal Revenue Code, a new provision that governs nonqualified deferred compensation plans. The amended plan is effective as of January 1, 2005. This filing primarily informs investors about the company's proactive steps to align its executive compensation and deferred compensation arrangements with new tax regulations. While no new material agreements or financial results are presented, investors should note that this is a regulatory compliance measure. The full details of the Amended and Restated Deferred Compensation Plan are available as an exhibit to this filing.
Key Highlights
- 1ADI amended and restated its Deferred Compensation Plan.
- 2The amendment was made to comply with Section 409A of the Internal Revenue Code.
- 3The Deferred Compensation Committee approved the amended plan on February 3, 2005.
- 4The Amended and Restated Deferred Compensation Plan is effective as of January 1, 2005.
- 5The full text of the Plan is filed as Exhibit 10.1 to the 8-K.
- 6This filing addresses a regulatory requirement concerning executive compensation.