Power Integrations, Inc. (NASDAQ:POWI) Files An 8-K Submission of Matters to a Vote of Security HoldersItem 5.07 thereof, Power Integrations, Inc.’s decision regarding how frequently it will hold an advisory vote on the compensation of the Power Integrations named executive officers, which is included at the end of Item 5.07 below. No other changes have been made to the Original Report.
Item 5.07. Submission of Matters to a Vote of Security Holders
Power Integrations, Inc. (“Power Integrations”) held its 2017 Annual Meeting of Stockholders (the “Annual Meeting”) on May 19, 2017. The following is a brief description of each matter voted upon at the Annual Meeting, as well as the final tally of the number of votes cast for or against each matter, and the number of abstentions and broker non-votes with respect to each matter.
1. Power Integrations’ stockholders elected each of the directors proposed by Power Integrations for re-election; to serve until Power Integrations’ 2018 Annual Meeting of Stockholders or until his or her respective successor has been elected and qualified. The tabulation of votes on this matter was as follows:
|
Nominee |
Shares Voted For |
Shares Withheld |
|
Wendy Arienzo |
25,885,495 |
740,826 |
|
Balu Balakrishnan |
25,847,955 |
778,366 |
|
Alan D. Bickell |
23,678,185 |
2,948,136 |
|
Nicholas E. Brathwaite |
24,598,909 |
2,027,412 |
|
William L. George |
25,680,052 |
946,269 |
|
Balakrishnan S. Iyer |
25,485,821 |
1,140,500 |
|
E. Floyd Kvamme |
24,498,805 |
2,127,516 |
|
Steven J. Sharp |
25,771,263 |
855,058 |
There were 1,533,500 broker non-votes for this proposal.
|
Shares voted for: |
23,185,634 |
|
Shares voted against: |
2,715,404 |
|
Shares abstaining: |
725,283 |
|
Broker non-votes: |
1,533,500 |
|
Shares voted for oneyear: |
20,268,661 |
|
Shares voted for twoyears: |
284,058 |
|
Shares voted for threeyears: |
5,278,759 |
|
Shares abstaining: |
730,725 |
|
Broker non-votes: |
1,597,618 |
4. Power Integrations’ stockholders ratified the selection of Deloitte & Touche LLP as the independent registered public accounting firm of Power Integrations for its fiscal year ending December31, 2017. The tabulation of votes on this matter was as follows:
|
Shares voted for: |
26,966,391 |
|
Shares voted against: |
391,738 |
|
Shares abstaining: |
801,692 |
|
Broker non-votes: |
On August 13, 2017, the Board of Directors of Power Integrations determined, in light of and consistent with the vote of the Power Integrations stockholders as to the preferred frequency of stockholder advisory votes on the compensation of the Power Integrations named executive officers, to include a stockholder advisory vote on the compensation of the Power Integrations named executive officers in its annual meeting proxy materials each year until the next advisory vote on the frequency of stockholder votes on the compensation of the Power Integrations named executive officers.
About Power Integrations, Inc. (NASDAQ:POWI)
Power Integrations, Inc. designs, develops and markets analog and mixed-signal integrated circuits (ICs) and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use. Its alternating current (AC)-direct current (DC) power conversion products are TinySwitch, LinkSwitch and Hiper families. Its Insulated-gate bipolar transistor drivers products are the SCALE and SCALE-2 product-families. Its High-voltage DC-DC products are DPA-Switch family, which is monolithic high-voltage DC-DC power conversion IC designed for use in distributed power architectures. Its power supplies are used with electronic products, including mobile phones, computers, electronic utility meters, industrial controls and light emitting diodes lights. It sells products to original equipment manufacturers and merchant power supply manufacturers.
