Who is José E. Almeida and why was he appointed to the Board?

José E. Almeida has been elected to the Board of Directors of Analog Devices, Inc. While the filing doesn't detail his specific background, his appointment suggests the company sought to strengthen its board with new expertise. His expected role on the Nominating and Corporate Governance Committee indicates a focus on governance and director selection processes.

What is the compensation package for Mr. Almeida as a new director?

Mr. Almeida will receive an annual cash retainer of $60,000 for his service as a director, paid quarterly. He will also receive an additional annual cash retainer of $3,000 for his service on the Nominating and Corporate Governance Committee, also paid quarterly. He will be granted stock options and restricted stock units which vest by March 12, 2015.

When will Mr. Almeida's stock options and restricted stock units vest?

Mr. Almeida will be automatically granted a non-qualified stock option to purchase 1,490 shares and 230 restricted stock units. These awards are scheduled to vest on the earlier of the date of Analog Devices' next annual shareholder meeting or March 12, 2015.

Are there specific conditions that accelerate the vesting of director equity awards?

Yes, director equity awards, including those granted to Mr. Almeida, vest in full upon a Change in Control Event or the director's death. Vesting may also be affected by disability or retirement after age 60, with provisions for continued vesting or exercisability depending on the circumstances.

ADI 8-K: Leadership Changes

Summary

Analog Devices Inc. (ADI) announced a significant change to its Board of Directors on January 20, 2015, with the election of José E. Almeida. Mr. Almeida's appointment is effective immediately, with his term extending to the company's next annual shareholder meeting in March 2015. He is also slated to join the Nominating and Corporate Governance Committee upon his formal election by shareholders. Mr. Almeida's compensation as a director includes an annual cash retainer of $60,000, plus an additional $3,000 for his committee service, both paid quarterly. Furthermore, he will receive equity awards, including stock options and restricted stock units, which will vest by March 12, 2015, or at the next annual shareholder meeting. These appointments and compensation structures are standard for non-employee directors and reflect the company's commitment to attracting experienced leadership to its board.

Key Highlights

1José E. Almeida elected to the Board of Directors, effective January 20, 2015.
2Mr. Almeida's term as director will continue until the company's next annual shareholder meeting in March 2015.
3He is expected to join the Nominating and Corporate Governance Committee.
4Annual cash retainer for director service is $60,000, plus $3,000 for committee service.
5Mr. Almeida will receive equity awards, including stock options and restricted stock units, vesting by March 12, 2015, or the next annual meeting.
6Standard director compensation and vesting terms are detailed, including provisions for change in control, death, disability, and retirement.
7A press release regarding Mr. Almeida's election is filed as an exhibit.

ANALOG DEVICES INC 8-K Report, Executive Changes (Jan 21, 2015)

Summary

Key Highlights

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