Silberstein Asaf 4

What Happened
Asaf Silberstein, Executive Vice President and Chief Operating Officer of Semtech (SMTC), received two grants of vested performance stock units totaling 23,138 shares on 2026-03-23 (9,755 and 13,383 shares). To satisfy tax withholding obligations, 11,774 shares were withheld/disposed at $76.52 per share, generating $379,845 and $521,101 respectively (total withheld value = $900,946). These transactions were awards (code A) and tax withholding/dispositions (code F), not open-market purchases.

Key Details

• Transaction date: 2026-03-23; Form filed 2026-03-25 (timely).
• Awards acquired: 9,755 and 13,383 shares (total 23,138) shown at $0.00 acquisition price (performance stock units vesting).
• Shares withheld/disposed for taxes: 4,964 and 6,810 shares (total 11,774) at $76.52 per share; proceeds reported $379,845 and $521,101 (total $900,946).
• Shares owned after the transactions: Not disclosed in the provided filing.
• Footnotes: F1 = FY2026 performance stock units vesting (first year of multi-year performance period); F2 = FY2025 performance stock units vesting (second year). Vesting depends on revenue, non-GAAP operating income, relative TSR, and service conditions.
• Transaction codes: A = award/grant; F = payment of exercise price or tax liability (share withholding/cashless sell-to-cover).

Context

• These were performance-based restricted stock/unit vestings, not purchases — the F transactions represent shares withheld to pay taxes (a common, routine practice).
• Performance stock units vest over multi-year targets; the filing shows partial vesting events for different grant years.
• For retail investors tracking insider trades: awards and tax-withholding disposals are typically administrative and do not necessarily signal a buying or selling decision by the insider.