AGM 2020

Jun 11, 2020

Hello, and welcome to the Annual Meeting of Stockholders of Monolithic Power Systems. Please note that today's meeting is being recorded. During the Picon. It is now my pleasure to turn today's meeting over to Sarah Tang, General Counsel of Monolithic Power Systems. Nit Singh. The floor is yours. Thank you, operator. Good morning, ladies and gentlemen. My name is Sarah Yassin, and I'm General Counsel of Logistics Power Systems. I will ask the secretary of the meeting and report the It is a pleasure to welcome you to the MPS annual meeting of stockholders. The meeting is now called to order. People proceeding to the former business, I'd like to introduce the following participants. We have Bernie Blakeen, our Chief Financial Officer, on the line and also Evan Katz, who is a partner with our independent audit firm, Ernst Young, on the line 12. I have proof by affidavits sign by William Valentine, an employee of computer share that the annual mailing was completed on May 2020 to all registered stockholders of record at a close of business on April 20, 2020. Additionally, I have an affidavit signed by Angela Zetora, an employee of Broadridge Financial Solutions, that the annual meeting material milling to the beneficial stockholders was completed on May 8 2020. These F Davis together with progress of the annual meeting notice proxy statements and proxy cards will be filed with the minutes of the meeting. The Board of Directors has designated as Inspector Election. I have executed an oath to carry out their duties and partially and to the best of my ability. The oath of the inspection of Election, Inspector Election will be filed with the minutes of this meeting. We have present at proxy as a vision number of shares to constitute a courtroom, so I declare the meeting to the duty convene for purpose of the transaction in such business has made properly accounted for it. If you have already canceled votes, we have counted your votes. Those of you that have not yet voted and have registered with Computershare to attend this virtual meeting, you may vote during this webcast and your votes will be counted. First item of business is the nomination in the election of 2 directors to serve until the annual meeting in 2023 and until their successors are duly elected and qualified. The following 2 directors are nominated by Board of Directors Victor Lee and James Moyer. The second item of business is ratification of independent auditors. The Board of Directors has appointed Ernst And Young independent auditors to audit the company's financial statements for the fiscal year ending December 31, 2020. The stockholders are voting on whether to ratify disappointment. The serve item of business is an advisory vote on a 2019 compensation of the company executive officers, as disclosed in a compensation discussion and analysis in the proxy statements. This item is commonly referred to as a SAM Pay phone. The 4th item of business is the approval of the company's amended and restated 2014 equity incentive plan. I now declared a poll closed. As an Inspector of Election, I would like to report on a preliminary result of a vote cast I hereby report that there were 42,900,000 shares of common stock entitled to vote represented at this meeting either in person or by proxy, comprising 96 percent of the outstanding common stock of the company as of the record date of April 2020. In voting for directors, I hereby report that 30,800,000 shares were in favor of the appointment of Victor Lee representing 73% of the both cast and 24,600,000,000 shares were in favor of the appointment of James Moyer representing 59% of both casts. Both directors are therefore re elected. In voting for the ratification of the earnings and Young as auditors of the company. I hereby report that 42,900,000 shares were in favor of disappointment representing 100% of devote cash. The appointment of Irthing Young as the company's independent auditor is therefore ratified. In voting for the SAMPay proposal, I hereby report that 41,300,000 shares were in favor of this proposal representing 98% of the votes cast, the executive compensation is thereby approved. In voting for the approval, for the amended and restated 2014 equity incentive plan. I hereby report that 29,500,000 shares or in favor of the proposal, representing 70% of the votes cast. The plan is hereby approved. The final number of both will be included in a minute of the meeting and in an 8 K that will be filed with the SEC within 4 business days. This concludes the formal proceedings. Operator, are there any questions? So now the meeting is adjourned. Thank you so much. Ladies and gentlemen, this concludes the meeting. You may now disconnect and please have a pleasant day.