Monolithic Power Systems (MPWR) AGM 2024 summary

Opening remarks and agenda

• Meeting called to order with introductions of key participants, including VP of Finance and independent auditors.

• Proof of notice mailing to stockholders and confirmation of quorum were provided.

Shareholder proposals

• Stockholder John Chevedden presented a proposal to elect each director annually, arguing that annual elections improve accountability and board performance.

• Concerns were raised about the current classified board structure and its impact on executive pay oversight.

• The proposal highlighted shareholder dissatisfaction with executive compensation and board accessibility.

Overview of voting outcomes

• Three directors (Eugen Elmiger, Eileen Wynne, Jeff Zhou) were reelected with strong support.

• Ernst & Young was ratified as independent auditors for the next fiscal year.

• Executive compensation was approved by a majority of shares.

• The stockholder proposal for annual director elections was approved.