On October 21, 2024, Monolithic Power Systems announced the resignation of James C. Moyer from its Board of Directors, prompting a reduction in board size from eight to seven members. The resignation was not due to any disagreements with the company or management.To achieve better balance among director classes, the Board restructured its composition by reducing Class II directors to two and increasing Class I directors to two. Jeff Zhou transitioned from Class II to Class I director, with his new term expiring at the 2026 annual meeting. His service is considered uninterrupted, and he maintains his positions on both the Compensation and Audit Committees.The restructured Board now comprises two Class I directors (term expires 2026), two Class II directors (term expires 2027), and three Class III directors (term expires 2025). Zhou's compensation and indemnification arrangements remain unchanged, with no additional restricted stock unit grant for the reappointment.

On October 21, 2024, Monolithic Power Systems announced the resignation of James C. Moyer from its Board of Directors, prompting a reduction in board size from eight to seven members. The resignation was not due to any disagreements with the company or management.To achieve better balance among director classes, the Board restructured its composition by reducing Class II directors to two and increasing Class I directors to two. Jeff Zhou transitioned from Class II to Class I director, with his new term expiring at the 2026 annual meeting. His service is considered uninterrupted, and he maintains his positions on both the Compensation and Audit Committees.The restructured Board now comprises two Class I directors (term expires 2026), two Class II directors (term expires 2027), and three Class III directors (term expires 2025). Zhou's compensation and indemnification arrangements remain unchanged, with no additional restricted stock unit grant for the reappointment.