SEC Form 4 · accession 0001280452-16-000329
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
Oct 28, 2016
Accepted (ET)
Nov 1, 2016 · 6:57 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 | Oct 28, 2016 | M | 26,817 | $0.00 | A | 1,198,393 | D | |
| 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 | — | Oct 28, 2016 | M | 26,817 | D | — | — | Common Stock | 26,817 | 111,926 | D |
Explanation of responses
- F1On December 31, 2015, the reporting person was granted a target of 138,743 shares of restricted stock units in four tranches subject to satisfaction of share price targets over the next four years. The vesting of restricted stock units in the second, third and fourth tranches is also subject to the satisfaction of certain operational goals, as determined by the Compensation Committee of the Company. All restricted stock units are subject to time based vesting. Once vested, one-third of shares have no sales restrictions and are sellable on January 1, 2020, one-third of the shares have sales restrictions until January 1, 2021 and one-third of the shares have sales restrictions until January 1, 2022.On October 28, 2016, the Compensation Committee of the Company determined that three of the five share price targets for the first tranche of restricted stock units had been satisfied, which resulted in 26,817 shares being granted, subject to time based vesting described above.