Summary
Analog Devices Inc. (ADI) announced a change to its Board of Directors on December 5, 2023. The Board's size was expanded to thirteen members with the appointment of Dr. Peter B. Henry as an independent director. Dr. Henry's appointment is effective immediately and will continue until the company's next annual shareholder meeting. In addition to his board service, Dr. Henry has been appointed to the Audit Committee. His compensation will include an annual cash retainer of $90,000 for board service and an additional $15,000 for his role on the Audit Committee. He will also receive a prorated restricted stock unit (RSU) award valued at approximately $57,945, which will vest in early 2024. This filing provides transparency on executive and director compensation and governance changes.
Key Highlights
- 1Analog Devices Inc. appointed Dr. Peter B. Henry as an independent director.
- 2The size of the Board of Directors was increased to thirteen members.
- 3Dr. Henry has been appointed as a member of the Audit Committee.
- 4Dr. Henry will receive an annual cash retainer of $90,000 for board service.
- 5An additional cash retainer of $15,000 will be paid to Dr. Henry for his Audit Committee service.
- 6Dr. Henry will be granted a restricted stock unit (RSU) award valued at approximately $57,945.
- 7The RSU award is prorated for fiscal year 2023 and will vest in early 2024.