The company said its board approved a nonqualified deferred compensation plan for senior officers, effective July 1, 2024. The plan covers all named executive officers. The board approved it on May 17, 2024.

1. 01

   The company said its board approved a nonqualified deferred compensation plan for senior officers, effective July 1, 2024. The plan covers all named executive officers. The board approved it on May 17, 2024.

2. 02

   ON Semiconductor said eligible officers may defer up to 40% of short-term incentive awards earned for July 1, 2024 to December 31 based on 2024 performance, and up to 80% each of base salary and short-term incentive awards in later years. Payouts can be made in a lump sum or in up to ten annual installments, but all deferred amounts will be paid in a single lump sum upon a participant’s death.

3. 03

   The company said the plan is administered by the Human Capital and Compensation Committee of the board and that it does not currently intend to make discretionary or employer matching contributions. It said the company’s obligations under the plan are general unsecured obligations payable from its general assets.

4. 04

   ON Semiconductor said shareholders elected directors, approved an advisory resolution on executive compensation, and ratified PricewaterhouseCoopers LLP as its auditor at its annual meeting on May 16, 2024. The compensation resolution received 336,152,956 votes for and 28,994,656 votes against.

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AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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