Company: COHU
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001437749-25-024281
Chunk: 35

Company: COHU INC
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 35
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 not have voting rights and the shares underlying the RSUs are not considered issued and outstanding. Shares of our common stock or treasury shares will be issued on the date the RSUs vest net of the minimum statutory tax withholding requirements to be paid by us on behalf of our employees. As a result, the actual number of shares issued will be fewer than the number of RSUs outstanding on June 28, 2025.

In the first six months of fiscal 2025, we awarded 886,577 RSUs and issued 350,839 shares of our common stock on vesting of previously granted awards and 52,669 RSUs were forfeited. On June 28, 2025, we had 1,371,281 RSUs outstanding with an aggregate intrinsic value of approximately $26.6 million and the weighted average remaining vesting period was approximately 1.3 years.

Performance Stock Units 

We grant performance stock units (“PSUs”) to certain senior executives as a part of our long-term equity compensation program. The number of shares of common stock that will ultimately be issued to settle PSUs granted ranges from 0% to 200% of the number granted and is determined based on certain performance criteria over a three-year measurement period. The performance criteria for the PSUs are based on a combination of our annualized Total Shareholder Return (“TSR”) for the performance period and the relative performance of our TSR compared with the Russell 2000 Index (RUT) for the performance period. PSUs granted vest 100% on the third anniversary of their grant, assuming achievement of the applicable performance criteria.

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Cohu, Inc.

Notes to Unaudited Condensed Consolidated Financial Statements

June 28, 2025

We estimate the fair value of the PSUs using a Monte Carlo simulation model on the date of grant. Compensation expense is recognized over the requisite service period. To the extent applicable performance conditions are satisfied, shares of our common stock or treasury shares are issued on the date the PSUs vest net of the minimum statutory tax withholding requirements to be paid by us on behalf of our employees. As a result, the actual number of shares issued will be fewer than the actual number of PSUs outstanding on June 28, 2025.

In the first six months of fiscal 2025, we awarded 385,548 PSUs, we issued 70,004 shares of our common stock on vesting of previously granted awards and 118,847 shares were