Semtech: Other Events
The following excerpt is from the company's SEC filing
Mohan Maheswaran, President, Chief Executive Officer and a Director of Semtech Corporation (the Company), has informed the Company that he has entered into a written stock trading plan in accordance with Rule 10b5-1 under the Securities Exchange Act of 1934.
Under the plan, Mr. Maheswaran will execute same-day sales covering a total of 48,000 non-qualified stock options and resulting shares of the Companys common stock. The plan provides for the exercise and sales of specified numbers of shares at specified times beginning in April, 2014 and ending in January, 2015. Shares acquired via the exercise of the underlying stock options will be sold under the plan on the open market at prevailing prices on the applicable trading days specified under the plan, subject to a minimum price threshold as specified in the plan. Mr. Maheswarans trading plan covers the exercise of options that would otherwise expire in February, 2015.
The plan also provides for the sale of 61,000 shares of the Companys common stock. The plan provides for sales of specified numbers of shares at specific times beginning in April, 2014 and ending in March, 2015.
The plan is consistent with, and will follow, a similar plan entered into by Mr. Maheswaran in January, 2013, which expires following the final trade under that plan in March, 2014.
Except as may be required by law, the Company does not undertake to report Rule 10b5-1 trading plans established by any other Company employees, officers or directors, nor to report modifications, terminations, or other activities under any publicly announced trading plan.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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Other recent filings from the company include the following:
Semtech Corporation's President and CEO just disposed of 2,500 shares - April 16, 2014