Summary
Analog Devices Inc. (ADI) announced a significant operational change on March 13, 2012, with the approval by its Board of Directors to voluntarily delist its common stock from the New York Stock Exchange (NYSE) and transfer its listing to The NASDAQ Global Select Market (NASDAQ). This strategic move is expected to be effective around April 2, 2012, with trading ceasing on the NYSE at the close of market on March 30, 2012. The company will retain its current trading symbol, 'ADI'. In addition to the listing change, the company also reported the results of its Annual Meeting of Shareholders held on March 13, 2012. Key outcomes include the election of nine directors to the Board for a one-year term, an advisory vote approving the compensation of named executive officers, and the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year ending November 3, 2012. These shareholder votes indicate broad support for the current board and financial oversight.
Key Highlights
- 1Voluntary delisting from the New York Stock Exchange (NYSE) and transfer to The NASDAQ Global Select Market (NASDAQ) approved by the Board of Directors.
- 2Common stock is expected to commence trading on NASDAQ on or about April 2, 2012, under the symbol 'ADI'.
- 3Trading on the NYSE is expected to cease effective at the close of market on March 30, 2012.
- 4Nine nominees were elected to the Board of Directors for a one-year term at the Annual Shareholder Meeting.
- 5Shareholders provided advisory approval for the compensation of named executive officers.
- 6Ernst & Young LLP was ratified as the independent registered public accounting firm for the fiscal year ending November 3, 2012.