Silberstein Asaf 4

What Happened

• Asaf Silberstein, EVP and COO of Semtech (SMTC), had performance-based stock units vest on March 10, 2026. The filing shows 35,237 shares issued (combination of exercised/converted derivatives and awards) and shares withheld to cover tax obligations.
• Two withholding transactions disposed of 4,964 shares at $85.14 (value $422,635) and 5,053 shares at $87.58 (value $442,542), totaling about $865,177 in tax-withholding value. The filing also lists derivative exercise/conversion and grant entries tied to the vesting event.

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (appears timely under Form 4 rules).
• Reported entries: exercise/conversion (M) and awards/grants (A) that resulted in 35,237 shares being acquired/issued; 10,017 shares disposed (F) to satisfy tax withholding.
  • Disposed (tax withholding): 4,964 shares @ $85.14 = $422,635
  • Disposed (tax withholding): 5,053 shares @ $87.58 = $442,542
  • Acquired/issued (various entries): 9,755; 9,930; 15,552 shares (total 35,237)
• Footnotes: these were performance stock units granted in Semtech’s FY2024 that vest based on relative total stockholder return (F1). Each unit equals one share on settlement (F2). Portions of the related grants have specified vesting schedules (F3, F4).
• Shares owned after the transaction are not specified in the summary data provided in this request.

Context

• These entries reflect vesting/settlement of performance stock units and routine tax-withholding (code F). Withholding of shares to cover taxes is common and does not necessarily indicate a discretionary sale for cash or insider sentiment.
• The filing includes derivative (M) entries because performance units converted into shares; some shares were net-surrendered/withheld rather than open-market sales.