Company: AOSL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001387467-25-000044
Chunk: 77

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 77
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,144 20284,276 191 20293,988 — Thereafter5,187 — Total minimum lease payments25,599 2,765 Less amount representing interest(2,991)(243)Total lease liabilities$22,608 $2,522 

22

ALPHA AND OMEGA SEMICONDUCTOR LIMITEDNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

9. Shareholders’ Equity and Share-based Compensation 

Time-based Restricted Stock Units (“TRSUs”)The following table summarizes the Company’ TRSU activities for the nine months ended March 31, 2025: Number of Time-based  Restricted StockUnitsWeighted AverageGrant Date FairValue Per ShareWeighted AverageRemainingContractualTerm (Years)Aggregate Intrinsic ValueNonvested at June 30, 20241,469,135 $29.13 1.66$54,901,575 Granted614,488 $29.82 Vested(522,441)$31.54 Forfeited(52,233)$28.39 Nonvested at March 31, 20251,508,949 $28.61 1.82$37,512,472 Market-based Restricted Stock Units (“MSUs”)In December 2021, the Company granted 1.0 million market-based restricted stock units (“MSUs”) to certain personnel.  The number of shares to be earned at the end of performance period was determined based on the Company’s achievement of specified stock prices and revenue thresholds during the performance period from January 1, 2022 to December 31, 2024 as well as the recipients remaining in continuous service with the Company through such period.  The MSUs vest in four equal annual installments after the end of performance period.  The Company estimated the grant date fair values of its MSUs using a Monte-Carlo simulation model.  In September 2023, the Company determined it was no longer probable that it would achieve the minimum revenue threshold specified in the awards. Therefore, the Company reversed all of the previously recognized expenses of $6.4 million for these MSUs.  In addition, on September 19, 2023, the Compensation Committee of the Board approved a modification of the terms of MSUs to extend the performance period through December 31, 2025, changed the commencement date for the four-year time-based