SEC Form 4 · accession 0001280452-15-000056
MONOLITHIC POWER SYSTEMS, INC. · MPWR
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael Hsing
Officer — CEO · Director
Period of report
Feb 3, 2015
Accepted (ET)
Mar 20, 2015 · 1:41 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001280452
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2 | Feb 3, 2015 | M | 110,000 | $0.00 | A | 1,004,213 | D | |
| Common Stock | Feb 17, 2015 | J | 567 | $37.451 | A | 927,891 | D | |
| Common StockF4 | Mar 18, 2015 | M | 110,000 | $0.00 | A | 1,037,891 | D | |
| Common Stock | holding | — | — | — | 29,000 | I | Hsing Fam Foundation | |
| Common Stock | holding | — | — | — | 133,040 | I | by M Hsing 04 Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Performance SharesF1,F5 | — | Feb 3, 2015 | M | 110,000 | D | — | — | Common Stock | 110,000 | 220,000 | D |
| Performance SharesF4,F5 | — | Mar 18, 2015 | M | 110,000 | D | — | — | Common Stock | 110,000 | 110,000 | D |
Explanation of responses
- F1Each performance share represents a contingent right to receive a restricted stock unit upon MPWR's common stock achieving a 20-day average closing price of $47.00 per share from January 1, 2014 through December 31, 2018 (the "Performance Period"). Credited performance units are still subject to an additional, quarterly, five-year time-based vesting schedule beginning January 1, 2019, subject to acceleration under certain circumstances.
- F2Reflects transactions exempted from Section 16.
- F3Acquired through the Company's qualified ESPP program.
- F4Each performance share represents a contingent right to receive a restricted stock unit upon MPWR's common stock achieving a 20-day average closing price of $52.00 per share from January 1, 2014 through December 31, 2018 (the "Performance Period"). Credited performance units are still subject to an additional, quarterly, five-year time-based vesting schedule beginning January 1, 2019, subject to acceleration under certain circumstances.
- F5Each performance unit will vest as follows: one share of MPWR common stock will be credited for each performance unit if the price of MPWR common stock achieves a 20-day average closing price of $40.00 per share from January 1, 2014 through December 31, 2018 (the "Performance Period"), and up to four additional shares will be credited for each performance unit if the 20-day average closing price reaches $43.00, $47.00, $52.00 and $56.00 (that is, one share per price level) during the Performance Period. Credited performance units are then subject to an additional, quarterly, five-year time-based vesting schedule beginning January 1, 2019, subject to acceleration under certain circumstances.