Company: AOSL
Filing Date: 2025-09-18
Form Type: DEF 14A
Source: 0001387467-25-000054
Chunk: 74

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-09-18
Form: DEF 14A
Chunk 74
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AAP earnings per share and revenue goals over the period January 1, 2024 to December 31, 2024 and the participant’s continued service over a four-year period measured from March 15, 2024. The applicable performance conditions were (i) non-GAAP earnings per share of at least $0.02 per share as the qualifying criterion which if not met would lead to the award vesting at 0% (regardless of level of attainment of revenues) and (ii) increase in the Company’s revenue over the threshold revenue of $590 million up to a target revenue of $650 million with a range of payout based on actual increase in revenue and earnings per share. In February 2025, based on revenue and non-GAAP earnings per share for the performance period of $666.4 million and $0.34, respectively, the Compensation Committee determined that the performance goals had been attained at 100% of target.

Vesting of 2018 Market Performance Restricted Share Unit Grants : In 2018, the Compensation Committee approved a special grant of market performance-based restricted share unit awards to provide significant long-term incentives to directly align the interests of the executive officers with those of shareholders and at the same time to further enhance retention. Performance vesting was tied to share price performance over a 4-year period and revenue achieved in calendar year 2022. The number of earned shares is then subject to a 4-year service vesting commencing January 1, 2023. Accordingly, there is a 7-year combined performance and service vesting period applicable to each award.

The number of shares earned was to be determined upon completion of the performance period based on the highest average price of the Company’s common shares for any period of 20 consecutive trading days (“Average Company Price”) attained during the period January 1, 2019 to December 31, 2022, with $26.24 at threshold performance (representing an increase of 83% from the Average Company Price on the grant date) to $45.00 at target performance (representing a 214% increase from the Average Company Price on the grant date) and a multiplier based on the Company’s revenue for calendar year 2022 ranging from 0.5 at threshold revenue of $550 million and 1 for target revenue of $600 million.

In February 2023, based on the Average Company Price of $45.237 during the performance period and revenue of $794 million for 2022, the