Monolithic Power : Director Time Commitment Policy
April 26, 2024 at 10:36 am
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MONOLITHIC POWER SYSTEMS, INC.
DIRECTOR TIME COMMITMENT POLICY
(As Adopted by the Board of Directors on April 24, 2024)
The Board of Directors (the "Board") of Monolithic Power Systems, Inc. (the "Company") has adopted this policy to serve as a framework to establish Board time commitment expectations that it believes are in the best interests of the Company and its stockholders. This policy is not a binding set of legal obligations. The Board may modify or make exceptions to this policy in its discretion and consistent with its duties and responsibilities to the Company and its stockholders.
Directors are expected to devote the time and attention necessary to fully discharge their responsibilities as members of the Board and on each committee on which they serve. Each member of the Board is expected to ensure that other commitments do not materially interfere with his or her service as a director or member of a committee on which they serve.
The Company values the experience directors bring from other boards on which they serve, but recognizes that those boards may also present demands on a director's time and availability and may present conflicts or legal issues. In an effort to alleviate these concerns, directors should advise the Nominating and Corporate Governance Committee of any invitations to join the board of any other public company prior to accepting the directorship.
As a general policy:
No director may serve on more than five public company boards (including the Board);
No director who is an executive officer of a public company may serve on more than two public company boards (including the Board);
No director who is a chair of a public company board may serve on more than three public company boards (including the Board); and
In each case, subject to the waiver of such restrictions by a majority of non-affected members of the Board.
For purposes hereof, a "public company" is a company whose stock is traded on a national securities exchange, the OTCBB or the "pink sheets."
The Nominating and Corporate Governance Committee shall, on an annual basis and from time to time as it otherwise deems appropriate, review each director's ability to commit the necessary time and attention to discharge their responsibilities to the Company, the Board and each committee on which they serve, and shall reassess the adequacy of this policy and recommend any proposed changes to the Board for approval.
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MPS - Monolithic Power Systems Inc. published this content on
26 April 2024 and is solely responsible for the information contained therein. Distributed by
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26 April 2024 14:36:32 UTC.
Monolithic Power Systems, Inc. specializes in the design, manufacture and marketing of high-performance semiconductor-based power electronics solutions. The group's products include power modules, power management solutions (power converters, regulators, voltage supervisory systems, integrated circuits, Power over Ethernet, gate drivers, controllers, USB power systems, power distribution systems, etc.), AC/DC converters, analog components, sensors, inductors and battery management solutions. Net sales break down by market as follows:
- IT and data storage (30.8%): components and devices used in storage networks, computers, printers, servers and workstations;
- consumer electronics (23.4%): components for set-top boxes, monitors, game consoles, lighting systems, chargers, household appliances, mobile phones, wearables, GPS, TVs, stereos and cameras;
- automotive (16.9%): solutions for infotainment applications and advanced driver assistance and connectivity systems;
- industrial applications (15.3%): solutions for power generators, security systems, point-of-sale systems, smart meters and other industrial equipment;
- telecommunications (13.6%): components and devices used in network and telecommunications infrastructures, routers, modems and wireless applications.
At the end of 2021, the group had three production sites in China.
Net sales are distributed geographically as follows: the United States (3%), China (58%), Taiwan (14%), South Korea (7.7%), Europe (7.1%), Japan (5.7%) and South East Asia (4.5%).
MONOLITHIC POWER SYSTEMS, INC. 
