Summary
Analog Devices, Inc. (ADI) filed an 8-K on January 18, 2017, detailing changes to its Board of Directors and related compensation. Notably, Mark M. Little was elected to the Board and will serve on the Audit Committee, receiving both cash retainers and equity awards. The filing also announced the upcoming retirements of directors Richard M. Beyer and John C. Hodgson. Additionally, the company intends to appoint Robert Swanson, Executive Chairman of Linear Technology Corporation, to its Board, contingent on the completion of ADI's proposed acquisition of Linear Technology.
Key Highlights
- 1Mark M. Little elected to the Board of Directors, serving on the Audit Committee.
- 2Dr. Little to receive annual cash retainers of $70,000 for Board service and $10,000 for Audit Committee service.
- 3Dr. Little to be granted equity awards on February 15, 2017, including stock options and restricted stock units, with vesting tied to the next annual meeting or March 9, 2017.
- 4Richard M. Beyer and John C. Hodgson to retire from the Board at the 2017 Annual Meeting of Shareholders.
- 5Robert Swanson, Executive Chairman of Linear Technology Corp., is slated for appointment to the Board post-acquisition of Linear Technology.
- 6The filing incorporates by reference a press release dated January 18, 2017, announcing these board changes.