Company: GSIT
Filing Date: 2025-07-17
Form Type: DEF 14A
Source: 0001104659-25-068655
Chunk: 42

Company: GSI TECHNOLOGY INC
Filing Date: 2025-07-17
Form: DEF 14A
Chunk 42
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100% on June 2, 2027. (8) Option vests 100% on June 2, 2028. (9) Option vested 100% on May 3, 2025 (10) Option vests 100% on May 3, 2026. (11) Option vests 100% on May 3, 2027. (12) Option vests 100% on May 3, 2028. Option Exercises and Stock Vested During Last Fiscal Year There were no options exercised by our named executive officers during the fiscal year ended March 31, 2025. We have not made any direct grants of stock awards to any of our employees. Accordingly, there was no vesting of restricted stock held by any named executive officers during the fiscal year ended March 31, 2025. Potential Payments Upon Change of Control Our executive officers, including our named executive officers, are eligible to participate in our Amended and Restated Executive Retention and Severance Plan (the “Restated Retention Plan”). Participants in the Restated Retention Plan are entitled to receive severance benefits upon an “involuntary termination” of their employment other than for “cause” or a voluntary termination for “good reason” during a period beginning two months prior to and ending two years following a “change in control,” as such terms are defined in the Restated Retention Plan. Benefits payable under the Restated Retention Plan consist of the following (in addition to all other compensation and benefits accrued at the time of the participant’s termination): • A lump sum cash payment equal to: (i) the greater of 18 months of base salary or one month’s salary for each full or partial year of service for the Chief Executive Officer; (ii) the greater of 12 months of base salary or one month’s salary for each full or partial year of service for other executive officers; and (iii) 12 months of base salary or such lesser amount as the Compensation Committee may specify for other participants. Service to the Company after September 30, 2024 will not factor into the calculation of a participant’s Base Salary Severance Period (as defined in the “Restated Retention Plan”). The participant’s Base Salary Severance Period will be fixed at the greater of (i) eighteen months for a Chief Executive Officer or twelve months for an Executive Officer, and (ii) the Base Salary Severance Period equal to one month for each full or partial year of the Participant’s employment