Monolithic Power Systems Announces Results of Annual Meeting of Stockholders and Second Quarter Dividend
June 16 2017 - 9:00AM
Monolithic Power Systems (MPS) (Nasdaq:MPWR), a leading company in
high performance analog solutions, today announced the final
results of the 2017 Annual Meeting of Stockholders held on June 15,
2017 (the “Annual Meeting”). Stockholders re-elected the two
director nominees with 94% and 99% of the votes cast for their
election, ratified the appointment of MPS’ independent auditors for
2017 with 97% of the votes cast for ratification, approved the 2016
compensation of executive officers with 98% of the votes cast for
approval, and recommended to have future advisory votes on the
compensation of executive officers with 85% of the votes cast in
favor of annual frequency.
In accordance with the Board’s recommendation as set forth in
MPS’ proxy statement for the Annual Meeting and consistent with the
advisory vote of the stockholders, MPS will conduct future advisory
votes on the compensation of executive officers on an annual basis,
until the next advisory vote on this matter is held.
“On behalf of the Board and management, I sincerely thank our
stockholders for their overwhelming support for our proposals,
including our executive compensation program,” said Michael Hsing,
CEO and founder of MPS.
Second Quarter Dividend
MPS also announced today its second quarter dividend of $0.20
per common share to all stockholders of record as of the close of
business on June 30, 2017. The dividend will be paid on July 14,
2017.
Safe Harbor Statement
This news release includes “forward-looking statements” intended
to qualify for the safe harbor from liability established by the
Private Securities Litigation Reform Act of 1995. These
forward-looking statements are based on our current expectations,
estimates and projections about our business and industry,
management's beliefs, and certain assumptions made by us, all of
which are subject to change. Forward-looking statements can
often be identified by words such as “anticipates,” “expects,”
“forecasts,” “intends,” “believes,” “plans,” “may,” “will,” or
“continue,” and similar expressions and variations or negatives of
these words. All such statements are subject to certain risks,
assumptions and uncertainties, including those described in our
most recent Quarterly Report on Form 10-Q and in other documents
that we file or furnish with the Securities and Exchange
Commission. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect,
actual results may vary materially and adversely from those
projected, and may affect our future operating
results, financial position and cash flows. Accordingly,
you are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date they
are made. Except to the extent required by law, MPS does not
undertake, and expressly disclaims, any duty or obligation to
update publicly any forward-looking statement after the initial
distribution of this release, whether as a result of new
information, future events, changes in assumptions or
otherwise.
About Monolithic Power Systems, Inc.
Monolithic Power Systems, Inc. (MPS) provides small, highly
energy efficient, easy-to-use power solutions for systems found in
industrial applications, telecom infrastructures, cloud computing,
automotive, and consumer applications. MPS' mission is
to reduce total energy consumption in its customers' systems
with green, practical, compact solutions. The company was founded
by Michael Hsing in 1997 and is headquartered in San Jose, CA. MPS
can be contacted through its website at
www.monolithicpower.com or its support offices around the
world.
Monolithic Power Systems, MPS, and the MPS logo
are registered trademarks of Monolithic Power Systems, Inc. in the
U.S. and trademarked in certain other countries.
Contact:
Bernie Blegen
Chief Financial Officer
Monolithic Power Systems, Inc.
408-826-0777
investors@monolithicpower.com
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