Company: COHU
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001437749-25-004612
Chunk: 122

Company: COHU INC
Filing Date: 2025-02-20
Form: 10-K
Item: Item 1
Chunk 122
---
			30.52

			969

			$
			24.55

Equity-Based 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 majority of 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 annualized TSR of certain peer companies for the performance period. PSUs granted vest 100% on the third anniversary of their grant, assuming achievement of the applicable performance criteria.

We estimated 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. New shares of our common stock or treasury shares will be 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.

72

			COHU, INC.

			NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

PSU activity under our share-based compensation plans was as follows:

			2024

			2023

			2022

			Wt. Avg.

			Wt. Avg.

			Wt. Avg.

			(in thousands, except per share data)

			Units

			Fair Value

			Units

			Fair Value

			Units

			Fair Value

			Outstanding, beginning of year

			408

			$
			45.65

			403

			$
			28.64

			384

			$
			22.22

			Granted

			203

			$
			33.78

			270

			$
			39.97

			151

			$
			33.22

			Released

			(63
			)
			 
			$
			57.39

			(258
			)
			 
			$
			13.18

			(55
			)
			 
			$
			14.11

			Cancelled

			(9
			)