Cohu (COHU) Proxy filing summary
Event summary combining transcript, slides, and related documents.
Proxy filing summary
28 Oct, 2026Executive summary
Special meeting scheduled for December 15, 2026, online; October 28, 2026 is the voting record date. Proposals address uncertainty from annual-meeting record dates set 53–56 days before meetings, exceeding the bylaws’ 50-day limit.
The Board recommends FOR Proposals 1–6. Ratifications are separate and, if effective, validate the specified historical actions retroactively; they do not change their substantive terms or create new director terms.
If a ratification fails, the identified authorization uncertainty remains; the Board may consider next steps, including seeking relief under DGCL Section 205.
Voting matters and shareholder proposals
Proposals 1–4 seek ratification of the officer-liability charter amendment, authorized-share amendment, 2026 Equity Incentive Plan and amended ESPP; each of nine prior director elections is a separate item under Proposals 5(a)–5(i).
Proposal 6 seeks authority for one or more adjournments, if needed to solicit proxies or obtain a quorum; approval does not approve any ratification or other substantive business.
Proposals 1 and 2 require a majority of outstanding shares; Proposals 3, 4 and 6 require more FOR than AGAINST; each director ratification requires a majority of shares present or represented and entitled to vote on that item.
Proposals 1, 3, 4 and 5(a)–5(i) are expected to be non-routine for brokers; Proposals 2 and 6 are routine. A majority of outstanding shares must be represented online or by proxy for a quorum.
The prior elections cover Andrew M. Caggia, Yon Y. Jorden and Luis A. Müller through the 2027 annual meeting; Steven J. Bilodeau, James A. Donahue and Andreas W. Mattes through 2028; and William E. Bendush, Karen M. Rapp and Nina L. Richardson through 2029.
Board of directors and corporate governance
The nine-member Board has seven independent directors (78%); Audit, Compensation and Nominating and Governance committee members meet applicable independence requirements.
CEO Luis A. Müller and Chair James A. Donahue hold separate roles; Steven J. Bilodeau serves as Lead Independent Director, linking independent directors with the Chair and CEO and leading independent sessions.
Ratifications preserve the directors’ original classes and scheduled term endpoints. Prior post-age-75 approvals for Andrew M. Caggia, James A. Donahue and William E. Bendush remain applicable to their same terms; no new term or policy waiver is created.
Fiscal 2025 Board activity included 10 meetings; each director attended at least 75% of applicable Board and committee meetings. Independent-director executive sessions are held at least three times annually.
Latest events from Cohu
- Bookings surged 126% as Q3 sales rose 37% and FY2026 HPC outlook reached ~$120M.COHU
Q3 2026 - HPC and AI opportunities support a recurring-revenue-led path to $600–800M mid-term sales.COHU
Investor presentation - Q2 2026 revenue up 38% year-over-year to $149M, led by strong AI and HPC demand.COHU
Q2 2026 - All proposals passed amid strong growth, with a focus on AI and recurring revenue expansion.COHU
AGM 2026 - Q1 2026 revenue rose 29% to $125.1M, with strong AI/HPC demand and improved margins.COHU
Q1 2026 - Annual meeting covers director elections, compensation, share increase, equity plans, and ESG progress.COHU
Proxy filing - Shareholders will vote on directors, compensation, equity plans, and auditor, focusing on growth and ESG.COHU
Proxy filing - Q4 2025 revenue up 30% year-over-year to $122.2 million; cash jumps, margin dips on one-time charges.COHU
Q4 2025 - Q2 revenue was $104.7M with a $15.8M net loss; recurring sales and new wins provided support.COHU
Q2 2024