Sector: Technology|Industry: Semiconductors|Market Cap: $14.48B|Employees: 10.1K
Skyworks Solutions is a leading developer and manufacturer of analog and mixed-signal semiconductor products. Their core business model revolves around providing solutions for various applications including aerospace, automotive, and consumer electronics. The company leverages its expertise in network technologies and strategic acquisitions to target high-growth markets and diversify its revenue streams. They operate globally with a significant presence in Asia, Europe, and North America.
The Compensation Committee's goals include ensuring the executive compensation program is competitive within the semiconductor industry, providing short-term variable compensation that motivates executives and rewards them for achieving Company financial performance targets, and providing long-term stock-based compensation that aligns the interest of our executives with stockholders by rewarding them for long-term increases in stockholder value.
The Compensation Committee values and actively considers the opinions expressed by our stockholders through the “say-on-pay" advisory vote at each annual stockholder meeting, as well as through our ongoing stockholder engagement efforts. Following the 2023 Annual Meeting and through December 2023, we engaged in formal stockholder outreach, soliciting feedback from more than 20 institutional stockholders representing approximately 51% of the Company's shares outstanding.
The Compensation Committee retained the discretion to make payments, upon consideration of recommendations by the Chief Executive Officer, even if the threshold performance goals were not met or if the nominal level of non-GAAP operating income was not met, or to make payments in excess of the maximum level if the Company's performance exceeded the maximum performance goals.