MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

As previously disclosed, on April 6, 2019, Robert J. McMullan resigned from his position as Senior Vice President and Chief Financial Officer of MACOM Technology Solutions Holdings, Inc. (the “Company”). On July 1, 2019, Mr. McMullan executed a General Release Agreement (the “Release Agreement”) regarding his departure from the Company in consideration for certain severance payments and benefits from the Company described in a Letter Regarding Benefits on Termination from the Company attached thereto, including (i) 52 weeks of base salary equaling $414,574.94 and (ii) acceleration of the vesting of 10,000 restricted stock units that were granted to Mr. McMullan on November 6, 2018 under the Company’s 2012 Omnibus Incentive Plan, as amended and restated. In exchange for such severance, Mr. McMullan also executed an Employee Confidentiality and Invention Assignment Agreement in Connection with Severance attached to the General Release to which he agreed to certain restrictive covenants, including confidentiality, invention assignment, non-solicitation and non-interference.
This summary of the Release Agreement and attachments thereto does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement, a copy of which the Company intends to file with its Quarterly Report on Form 10-Q for the quarter ended June 28, 2019.
About MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI)

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MACOM Technology Solutions Holdings, Inc. is a provider of high-performance analog semiconductor solutions that enable Internet applications, the cloud-connected applications economy, and the networked battlefield across the radio frequency (RF), microwave, millimeterwave and photonic spectrum. It has multiple design centers, silicon, gallium arsenide and indium phosphide fabrication, manufacturing, assembly and test, and operational facilities throughout North America, Europe, Asia and Australia. It also offers foundry services. It offered a portfolio of over 4,500 standard and custom devices, which include integrated circuits, multi-chip modules, power pallets and transistors, diodes, amplifiers, switches and switch limiters, passive and active components and complete subsystems, across more than 40 product lines serving three primary markets, as of September 30, 2016. The Company’s products are RF Power Products, Optoelectronics and Photonic Solutions, among others.

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