Company: AOSL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001387467-25-000044
Chunk: 27

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 27
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 expenses for the nine months ended March 31, 2024 due to a $6.4 million of reversal of the prior recognized expenses.During the quarter ended September 30, 2018, the Company granted 1.3 million MSUs to certain personnel.  The number of shares to be earned at the end of performance period is determined based on the Company’s achievement of specified stock prices and revenue thresholds during the performance period from January 1, 2019 to December 31, 2021 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 the performance period.  The Company estimated the grant date fair values of its MSUs using a Monte-Carlo simulation model.  On August 31, 2020, the Compensation Committee of the Board approved a modification of the terms of MSU to (i) extend the performance period through December 31, 2022 and (ii) change the commencement date for the four-year time-based service period to January 1, 2023.  The fair value of these MSUs was recalculated to reflect the change as of August 31, 2020 and the unrecognized compensation amount was adjusted to reflect the increase in fair value.  The Company recorded $0.1 million and $0.5 million of expenses for MSUs during the three and nine months ended March 31, 2025, respectively, and $0.2 million and $0.8 million ofexpenses during the three and nine months ended March 31, 2024, respectively. The following table summarizes the Company’ MSUs activities for the nine months ended March 31, 2025:

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

 Number of Market-based Restricted StockUnitsWeighted AverageGrant Date FairValue Per ShareWeighted AverageRemainingContractual Term(Years)Aggregate Intrinsic ValueNonvested at June 30, 20241,727,000 $28.15 2.83$64,537,990 Vested(270,000)$5.17 Forfeited(21,000)$38.14 Nonvested at March 31, 20251,436,000 $32.32 3.14$35,698,960