8-KThe WireRoutine
Reg FD Disclosure · Company Update
Filed Dec 3, 2024 · 1y ago · Accession 0000103730-24-000128
Plain English
Material event — a significant development the company must disclose promptly.
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Filing text
View original ↗UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported) December 3, 2024
Vishay Intertechnology, Inc.
(Exact name of registrant as specified in its charter)
Delaware
1-7416
38-1686453
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification Number)
63 Lancaster Avenue
Malvern , PA
19355 -2143
(Address of Principal Executive Offices)
Zip Code
Registrant's telephone number, including area code 610 - 644-1300
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2
of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to
Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of exchange on which registered
Common stock, par value $0.10 per share
VSH
New York Stock Exchange
Item 7.01 – Regulation FD Disclosure
Conversion Ratio Adjustments for Dividends
The quarterly cash dividend program of Vishay Intertechnology, Inc. ("the Company" or "Vishay") results in adjustments to the conversion rate and
effective conversion price for each issuance of the Company's convertible senior notes, specifically, the 2.25% Convertible Senior Notes due 2025 (the "2025 Notes"). As required by the indentures governing the terms of each issuance of convertible
senior notes, the Company has delivered a notice and officers' certificate to the trustees regarding these adjustments.
Pursuant to the indentures governing the terms of each issuance of convertible senior notes, effective December 3, 2024 (the ex-dividend date), the
adjusted conversion rate and adjusted effective conversion price are as follows (subject to the conditions applicable to conversion set forth in the indentures):
Convertible Senior Notes
Due 2025
Conversion Rate (shares of common stock per $1,000 principal amount)
32.2205
Effective conversion price (per share)
$
31.04
The conversion rate and effective conversion price of Vishay's 2.25%
Convertible Senior Notes due 2030 were not impacted by the quarterly cash dividend.
Item 8.01 – Other Events
In February 2022, the Board of Directors of Vishay approved, and
Vishay announced a Stockholder Return Policy ("SHRP"), which set forth the intention of Vishay to annually return to stockholders at least 70% of free cash flow, net of scheduled principal payments of long-term debt, directly in the form of
dividends, or indirectly, in the form of stock repurchases.
To enable the operation of the SHRP, Vishay's Board of Directors approves the repurchase of a stated number of shares of common stock from time-to-time. As of
September 28, 2024, approximately 1.2 million shares remained from the previous repurchase authorization of 8.5 million shares.
On December 3, 2024, Vishay's Board of Directors approved the repurchase
of an additional 3.0 million shares of common stock, to enable the operation of the SHRP for the foreseeable future.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
Date: December 3, 2024
VISHAY INTERTECHNOLOGY, INC.
By:
/s/ David L. Tomlinson
Name:
David L. Tomlinson
Title:
Senior Vice President – Chief Accounting Officer
Filing details
- Company
- VISHAY INTERTECHNOLOGY INC
- Ticker
- VSH
- CIK
- 103730
- Form type
- 8-K
- Filing date
- Dec 3, 2024
- Report date
- Dec 3, 2024
- Document
- form8-k.htm
- Size
- 169 KB