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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported)
February 2, 2024
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MICROCHIP TECHNOLOGY INCORPORATED
(Exact Name Of Registrant As Specified In Its Charter)
Delaware0-2118486-0629024
(State Or Other Jurisdiction Of Incorporation)(Commission File No.)(IRS Employer Identification No.)

2355 West Chandler Boulevard, Chandler, Arizona 85224-6199
(Address Of Principal Executive Offices, Including Zip Code)

(480) 792-7200
(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading SymbolName of Each Exchange on Which Registered
Common Stock
$0.001 par value per share		MCHPNASDAQ Stock Market LLC
(Nasdaq Global Select Market)
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). 
Emerging growth company ☐ 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ 


Item 5.02.    Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

In connection with other expense reduction actions being taken by the management team of Microchip Technology Incorporated (“Microchip”), on February 2, 2024, the Compensation Committee of Microchip’s Board of Directors (the “Compensation Committee”) approved a 20% salary reduction for Microchip’s Chief Executive Officer and President (Ganesh Moorthy) and other executive staff members (including Microchip’s other named executive officers, Steve Sanghi, Rich Simoncic, Eric Bjornholt and Steve Drehobl) effective February 19, 2024. In addition, the Compensation Committee approved and recommended that the Microchip Board of Directors approve a 20% reduction in the cash compensation of the non-employee members of the Board of Directors.



SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 MICROCHIP TECHNOLOGY INCORPORATED
  
Date: February 5, 2024
By: /s/ J. Eric Bjornholt
 J. Eric Bjornholt
 Senior Vice President and Chief Financial Officer
 (Principal Financial and Accounting Officer)

v3.24.0.1
COVER PAGE
Feb. 02, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Feb. 02, 2024
Entity Registrant Name MICROCHIP TECHNOLOGY INCORPORATED
Entity Central Index Key 0000827054
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 0-21184
Entity Tax Identification Number 86-0629024
Entity Address, Address Line One 2355 West Chandler Boulevard
Entity Address, City or Town Chandler
Entity Address, State or Province AZ
Entity Address, Postal Zip Code 85224-6199
City Area Code 480
Local Phone Number 792-7200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock$0.001 par value per share
Trading Symbol MCHP
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
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