Company: GSIT
Filing Date: 2025-07-17
Form Type: DEF 14A
Source: 0001104659-25-068655
Chunk: 32

Company: GSI TECHNOLOGY INC
Filing Date: 2025-07-17
Form: DEF 14A
Chunk 32
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 2022, Mr. Lasserre accepted a 10% reduction in payment of his annual base salary. Since December 1, 2022, the actual annual salary paid to Mr. Lasserre has been $290,441. 2025 Variable Compensation Plan Under our compensation policy, a significant component of each executive officer’s potential annual compensation takes the form of a performance-based cash bonus. On May 28, 2024, the Compensation Committee adopted the 2025 Variable Compensation Plan, which was similar in structure to previous variable compensation plans for the Company’s executive officers. The 2025 Variable Compensation Plan was designed to encourage performance and retention of eligible employees by providing cash bonus awards based on the achievement of performance criteria based on net SRAM revenues and a target for Associative Processing Unit (APU) net revenue and/or R&D funding recorded as offset to R&D expense, all determined in accordance with United States generally accepted accounting principles. Each of our executive officers was eligible to participate in the 2025 Variable Compensation Plan. Certain non-executive officers were also eligible to participate. Under the 2025 Variable Compensation Plan, each participant had a designated target bonus. The target bonus for Lee-Lean Shu, our President, Chief Executive Officer and Chairman, was $275,000, and the target bonus for each of our other executive officers was $137,500. If the target financial goals were exceeded, actual bonus awards payable to participants in the 2025 Variable Compensation Plan could have been up to two times their target bonuses. There was no threshold or minimum amount payable under the 2025 Variable Compensation Plan. The Compensation Committee considered the critical role of Mr. Shu, our President and Chief Executive Officer, in our long-term success when determining his target bonus amount. The use of the same target bonus amount for each of our other named executive officers reflected the Compensation Committee’s desire to encourage a team approach by treating our executive officers equally

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with respect to bonus opportunities. The target for APU net revenue and/or R&D funding recorded as offset to R&D expense was not met in fiscal 2025. For fiscal 2025, our net SRAM revenues were 99.7% of the target in the 2025 Variable Compensation Plan. The net SRAM revenues bonus earned by our executive officers in fiscal 2025 was 99.7% of the net SRAM revenues target bonus under the 2025 Variable Compensation Plan. Original target bonus amounts for