Semtech Corp

1. 1

   Election of Directors

   ManagementBoard: FOR

   Elect nine directors nominated by the Board to hold office until the next annual meeting and until their successors are elected and qualified.

2. 2

   Ratification of Appointment of Independent Registered Public Accounting Firm

   ManagementBoard: FOR

   Ratify Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal year 2027.

3. 3

   Advisory (Non-Binding) Vote on Executive Compensation (Say-on-Pay

   ManagementBoard: FOR

   An advisory, non-binding vote to approve the compensation of the Company’s Named Executive Officers as disclosed in the proxy statement, including the Compensation Discussion and Analysis and compensation tables.

   More detail

   This non-binding 'say-on-pay' proposal asks stockholders to approve the disclosure and structure of compensation paid to the Company’s Named Executive Officers as presented in the proxy statement. Management is seeking approval to reaffirm its compensation philosophy that mixes annual cash incentives tied to financial goals (net sales and non-GAAP adjusted operating income) with long-term equity awards that contain performance- and time-based vesting to align management and stockholder interests. The Company emphasizes pay-for-performance safeguards—multi-year vesting, performance-based PSUs with TSR modifiers, clawback policy, no repricing without shareholder approval, and stock ownership guidelines—that the Board cites as reasons to support the program. Management notes prior strong stockholder backing (approximately 87.3% support in 2025) and ongoing stockholder engagement; because the vote is advisory, the Board will consider the outcome but is not legally bound by it. From a governance perspective, the proposal signals whether investors accept the balance between short-term incentives and longer-term performance metrics and the specific measures used; the program’s reliance on both absolute financial metrics and relative TSR is intended to limit gaming and to align pay with market-relative performance. The advisory nature means a negative result would generally trigger enhanced engagement and potential design changes rather than immediate legal consequences. Key risks for investors include dilution from equity awards and the complexity of multi-metric PSUs, which can make causal attribution between pay and firm performance harder to parse; however, management highlights controls such as discretion in payouts and the mix of cash/equity to manage these trade-offs. In sum, the proposal is a vote of confidence in compensation design and governance practices, and the Board recommends FOR while committing to consider stockholder feedback in future design choices.

4. 4

   Approval of the Amendment and Restatement of the Semtech Corporation 2017 Long-Term Equity Incentive Plan

   ManagementBoard: FOR

   Approve an amendment and restatement of the Semtech Corporation 2017 Long-Term Equity Incentive Plan to increase the aggregate number of shares available for awards by 4,300,000 and to make related updates described in the proxy statement and Exhibit B.

   More detail

   This management proposal asks shareholders to approve an amendment and restatement of the Company’s 2017 Long-Term Equity Incentive Plan to add 4,300,000 shares to the Plan’s share reserve. Management seeks approval because it believes the existing share pool does not provide adequate flexibility to continue granting equity awards used for recruiting, retention and incentive purposes; the filing states the incremental shares plus existing availability should cover roughly three years of awards under anticipated grant levels. The filing includes detailed share-counting and anti-dilution mechanics (including a 2.17:1 counting ratio for full-value awards granted after the 2022 amendment), per-participant and non-employee director limits, minimum vesting rules, no-repricing protections absent shareholder approval, and procedural guardrails around assumed awards in M&A. For investors evaluating dilution, the proxy provides burn-rate history, outstanding awards, and an illustration of non-employee director annual grant impacts; management discloses the weighted-average shares outstanding and historical issuance rates so investors can assess overhang and dilution. The Board frames the requested increase as prudent for sustaining incentive programs—particularly performance-linked PSUs—while retaining governance safeguards to limit excessive dilution, including per-person caps and premium share-counting for full-value awards. From a governance analytics perspective, the proposal raises tradeoffs: the increase supports talent and alignment but raises potential dilution and overhang; the plan text and supporting disclosure aim to mitigate these through structural design and limits. If approved, the amendment will permit continued use of equity to deliver multi-year, performance-based compensation (including the Financial Metric/TSR hybrid PSUs described in the proxy), but investors should monitor future grant practices, actual dilution, and the Company’s disclosure on how awards translate into realized pay relative to performance. The Board recommends FOR, emphasizing necessity for ongoing recruitment and retention, while documenting controls to limit inappropriate dilution.

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When is the Semtech Corp 2026 annual meeting?

Semtech Corp (SMTC) holds its 2026 annual shareholder meeting on Thursday, June 4, 2026.

What is the record date for the Semtech Corp 2026 meeting?

The record date for the Semtech Corp 2026 meeting is Thursday, April 9, 2026. Shareholders of record on or before that date are eligible to vote.

Who are the director nominees for Semtech Corp's 2026 meeting?

The board is presenting 9 director nominees at the Semtech Corp 2026 meeting, listed with their independence status and background.

What proposals will shareholders vote on at the Semtech Corp 2026 meeting?

Shareholders will vote on 4 proposals at the Semtech Corp 2026 meeting, each tagged with who proposed it and the board's recommendation.