HOU HONG Q 4

What Happened

• Hou Hong Q, President, CEO and a director of Semtech (SMTC), converted/exercised 6,483 stock units into common shares on April 1, 2026. To satisfy tax withholding, 3,299 of those shares were surrendered at an assigned value of $76.89 per share, totaling $253,660. The net shares delivered to Hou were approximately 3,184 (6,483 - 3,299). These transactions reflect a conversion/settlement of equity awards and a routine tax-withholding disposition, not an open-market sale or purchase.

Key Details

• Transaction date: 2026-04-01; Form 4 filed 2026-04-02 (appears timely).
• Conversion/exercise: 6,483 shares (transaction code M) reported at $0.00 per share (derivative conversion).
• Tax withholding/surrender: 3,299 shares disposed (transaction code F) at $76.89/share, total $253,660.
• Net shares received: ~3,184 (6,483 converted less 3,299 withheld).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: F1—each stock unit represents the contingent right to receive one share; F2—the grant vested one-third on July 1, 2025, with the remainder vesting in eight quarterly installments beginning Oct 1, 2025.

Context

• This was a conversion/settlement of vested equity units with broker/issuer withholding of shares to cover tax obligations (common practice). Transaction codes: M indicates exercise/conversion of a derivative (stock unit) and F indicates shares surrendered to cover tax liability. Because this was not an open-market purchase or voluntary sale of shares for cash, it should be viewed as routine equity settlement rather than a direct signal of trading intent.