SMTC: Leadership change

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Compensatory Arrangements of Certain Officers. Amendment to the Executive Severance Plan Semtech Corporation (“Semtech” or the “Company”) maintains the Semtech Corporation Executive Severance Plan, formerly the Semtech Corporation Executive Change in Control Retention Plan (the “Executive Severance Plan”). On June 2, 2026, the Human Capital and Compensation Committee of the Company’s Board of Directors (the “Board”) approved an amendment and restatement of the Executive Severance Plan (the “Amended and Restated Executive Severance Plan”) to provide for severance benefits if a participant’s employment with the Company terminates in certain circumstances not in connection with a Change in Control (with the existing Executive Severance Plan provisions providing severance benefits for certain terminations of employment in connection with a Change in Control continuing in effect). If an Amended and Restated Executive Severance Plan participant’s employment is terminated by the Company other than for “Cause” or the participant resigns for “Good Reason”, in either case outside a “Change in Control Window” (as each such term is defined in the Amended and Restated Executive Severance Plan) and other than due to the participant’s death or disability, the participant will be entitled to receive the following benefits: • A severance benefit equal to (A) one times the sum of the participant’s annual base salary rate (at the highest annual rate during the six-month period prior to the date of the participant’s qualifying termination) and (B) a pro-rata target bonus (based on the portion of the year the participant was employed by the Company) for the fiscal year in which the p