UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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Maxim Integrated Products, Inc.
(Name of Registrant as Specified in Its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
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*** Exercise Your Right to Vote ***
Important Notice Regarding the Availability of Proxy Materials for the
Stockholder Meeting to Be Held on November 9, 2016.
MAXIM INTEGRATED PRODUCTS, INC.
MAXIM INTEGRATED PRODUCTS, INC. ATTN: MARK CASPER 160 RIO ROBLES SAN JOSE, CA 95134 |
Meeting Information | |||||
Meeting Type: Annual Meeting | ||||||
For holders as of: September 16, 2016 | ||||||
Date: November 9, 2016 Time: 10:00 AM Pacific Time | ||||||
Location: Maxim Integrated Products, Inc. Event Center 160 Rio Robles San Jose, California 95134
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NOTICE AND PROXY STATEMENT ANNUAL REPORT ON FORM 10-K | ||||
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October 3, 2016
Dear Maxim Integrated Stockholders:
We are pleased to provide you with the enclosed Proxy Statement for our 2016 Annual Meeting and Annual Report on Form 10-K for our fiscal year ended June 25, 2016.
In fiscal year 2016, we achieved strong growth in our Automotive business and continued to diversify our customer base. We completed the reorganization of our Company to enable our business units and sales teams to be more flexible and more responsive to customers, while simultaneously lowering our costs by refocusing R&D. We also completed the transformation of our manufacturing, which has improved gross margins and reduced our capital spending. Our employees continued to develop innovative, differentiated technology, and this is providing a high return on our R&D investment.
Finally, we returned approximately 80% of free cash flow to our stockholders in the form of dividends and share repurchases during fiscal year 2016. We recently increased the quarterly dividend by 10%, reflecting our confidence in our ability to continue improving profitability and free cash flow growth and to maintain leadership in the return of cash to our stockholders.
In this Proxy Statement, we are asking for your support for various proposals, including a modest share increase for our 2008 Employee Stock Purchase Plan, the establishment of a maximum annual limit on non-employee director compensation, and an amendment to our bylaws to provide that the courts located within the State of Delaware will serve as the exclusive forum for the adjudication of certain legal disputes.
Thank you for your continuing support, and we look forward to seeing you at the 2016 Annual Meeting.
Sincerely,
Tunç Doluca
President and Chief Executive Officer
Maxim Integrated