Green Jason Elliot 4

What Happened
Jason Elliot Green, EVP and Chief Commercial Officer of Semtech (SMTC), converted/exercised derivative awards and received a new equity award on March 10, 2026. The filing shows conversion/exercise activity for 10,043 derivative units (recorded as acquired) and a contemporaneous tax-related disposition of 2,497 shares at $85.14 each (totaling $212,595) to cover withholding. In addition, Green was granted 11,520 stock units (restricted stock units/contingent rights to shares) in the same filing.

Key Details

• Transaction date: March 10, 2026; Form 4 filed March 12, 2026 (timely).
• Exercise/conversion: 10,043 derivative units converted/acquired (code M).
• Tax withholding: 2,497 shares surrendered/withheld (code F) at $85.14/share = $212,595.
• Award: 11,520 stock units granted (code A); each stock unit equals the contingent right to one Semtech common share (footnote F1).
• Vesting notes: Portions of the award vest over time — one‑third vests on March 10, 2026 with the remainder in eight quarterly installments beginning June 10, 2026 (footnote F2); another tranche vests one‑third on March 10, 2027 with the remainder in eight quarterly installments beginning June 10, 2027 (footnote F3).
• Shares owned after the transaction: not specified in the filing.
• Filing timeliness: filed within the standard Form 4 window (not marked late).

Context and interpretation
The 2,497‑share disposition was a tax‑withholding event (common when equity awards vest or are converted), not an open‑market sale — proceeds reflect withholding to satisfy tax obligations. The conversion/exercise and concurrent withholding indicate routine award settlement rather than a directional market trade. The new 11,520 stock units are subject to multi‑period vesting, so they will become company stock over time if vesting conditions are met.