TEXAS INSTRUMENTS INCORPORATED (NASDAQ:TXN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersITEM 5.02.Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 29, 2018, the Board of Directors of the Company terminated the Texas Instruments Executive Officer Performance Plan, as amended September 17, 2009 (the “Plan”), because the tax benefit of paying the Company’s named executive officer bonuses under the Plan was eliminated by changes in the tax laws.The Company’s executive officer compensation program is not affected by the termination of the Plan.
About TEXAS INSTRUMENTS INCORPORATED (NASDAQ:TXN)
Texas Instruments Incorporated designs, makes and sells semiconductors to electronics designers and manufacturers across the world. The Company operates through two segments: Analog and Embedded Processing. Its Analog segment’s product line includes High Volume Analog & Logic (HVAL), Power Management (Power), High Performance Analog (HPA) and Silicon Valley Analog (SVA). Its Embedded Processing segment’s product line includes Processor, Microcontrollers and Connectivity. It is also engaged in smaller product lines, such as DLP products (primarily used in projectors to create high-definition images), certain custom semiconductors known as application-specific integrated circuits (ASICs) and calculators. The Company has design, manufacturing or sales operations in over 30 countries. It also offers baseband products, and OMAP applications processors and connectivity products, which are sold into smartphones and consumer tablets.
