Company: AOSL
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001387467-25-000017
Chunk: 28

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 1
Chunk 28
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 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 $0.2 million and $0.4 million of expenses for MSUs during the three and six months ended December 31, 2024, respectively, and $0.3 million and $0.6 million ofexpenses during the three and six months ended December 31, 2023, respectively. The following table summarizes the Company’ MSUs activities for the six months ended December 31, 2024:

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

 Number of Market-based Performance-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(8,000)$48.44 Nonvested at December 31, 20241,449,000 $32.31 3.38$53,656,470 Performance-based Restricted Stock Units (“PRSUs”)In March of each year since year 2017, the Company granted PRSUs to certain personnel.  The number of shares to be earned under the PRSUs is determined based on the level of attainment of predetermined financial goals.  The PRSUs vest in four equal annual installments from the first anniversary date after the grant date if certain predetermined financial goals were met.  The Company recorded approximately $1.0 million and $1.9 million of expense for these PRSUs