8-KShareholder MattersOther EventsExhibits & Filings

MONOLITHIC POWER SYSTEMS INC 8-K Report, Shareholder Vote Results (Jun 14, 2018)

Filed June 14, 2018For Securities:MPWR

Summary

Monolithic Power Systems, Inc. (MPWR) filed an 8-K report on June 14, 2018, detailing the outcomes of its 2018 Annual Meeting of Stockholders and announcing its second quarter cash dividend. The meeting saw the election of two Class II directors, Eugen Elmiger and Jeff Zhou, to serve until the 2021 Annual Meeting, with strong support from stockholders. Furthermore, the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2018 was overwhelmingly ratified, and the compensation of named executive officers was approved on an advisory basis. In addition to corporate governance matters, the company announced a second quarter cash dividend of $0.30 per share, payable on July 13, 2018, to stockholders of record as of June 29, 2018. This filing provides transparency on key shareholder decisions and the company's commitment to returning value to its shareholders through dividends.

Key Highlights

  • 1Two Class II directors, Eugen Elmiger and Jeff Zhou, were elected to the Board of Directors at the 2018 Annual Meeting.
  • 2The appointment of Deloitte & Touche LLP as the independent auditor for fiscal year 2018 was ratified with significant stockholder approval.
  • 3Stockholders approved, on an advisory basis, the compensation of the company's named executive officers.
  • 4Monolithic Power Systems announced a second quarter cash dividend of $0.30 per share.
  • 5The dividend is payable on July 13, 2018, to stockholders of record on June 29, 2018.
  • 6The filing includes Exhibit 99.1, a press release detailing the Annual Meeting results and the dividend announcement.

Frequently Asked Questions

The main outcomes included the election of two directors (Eugen Elmiger and Jeff Zhou), the ratification of Deloitte & Touche LLP as the independent auditor for FY2018, and advisory approval of named executive officer compensation.

The second quarter cash dividend is $0.30 per share. It will be paid on July 13, 2018, to shareholders of record as of the close of business on June 29, 2018.

Eugen Elmiger and Jeff Zhou were elected as Class II directors. They will serve until the Annual Meeting of Stockholders in 2021.

While all proposals received strong majority support, there were some 'against' votes and 'abstain' votes on the executive compensation proposal, and 'withheld' votes for director elections. The ratification of the auditor and the election of directors received overwhelming approval.