Steve Sanghi has been a key figure at Microchip Technology since 1990, where he played various roles including CEO and Executive Chair. Under his leadership, the company grew significantly, particularly during his three decades as CEO. He has an Engineering...

Number of Employees

22.3K

Year

2021

Total Compensation

$4.28M

Salary

$484.88K

Board Justification

Microchip's compensation philosophy is based on a pay-for-performance approach, aligning executive compensation with company performance and individual contributions.

Bonus

$38.13K

Board Justification

The bonus for Mr. Sanghi was calculated based on a percentage of his salary under the Management Incentive Compensation Plan (MICP), which was set at 120% of his salary for the fiscal year 2022.

Other

$18.27K

Board Justification

Other compensation includes company-matching contributions under the 401(k) retirement savings plan and life insurance premiums paid by Microchip for Mr. Sanghi.

Restricted Stock

$3.74M(3.74M RSU)

Board Justification

The vested stock for Mr. Sanghi consists of RSUs that were granted in prior years and vested during fiscal 2022.

Performance Metrics

The performance metrics for the MICP included various financial targets based on Microchip's overall performance, including revenue growth and profitability.

SEC Filing

From July 14, 2022