Ravi Vig
POWER INTEGRATIONSAbout Ravi Vig
Ravi Vig, age 64, is an independent director of Power Integrations (POWI) who has served on the Board since April 2023. He is the former president and CEO—and a director—of Allegro MicroSystems, Inc. (retired June 2022), with a 38-year career across Allegro and Sanken North America that culminated in leading Allegro’s transformation to a fabless, asset‑light, high‑growth semiconductor company and taking it public in 2020. He holds a B.S. in Electrical Engineering (Rutgers), an M.S. in Electrical Engineering (Dartmouth), an MBA (Southern New Hampshire University), and a leadership certificate (Yale SOM), and is named on more than 60 patents in semiconductor and sensor domains .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Allegro MicroSystems, Inc. | President & CEO; Director | CEO 2017–Jun 2022; Board through retirement | Led private equity investment (2017), transformed to fabless, IPO (2020), accelerated revenue and improved gross margins; Inc. Magazine Best Led Companies recognition |
| Allegro MicroSystems / Sanken North America | Senior leadership incl. sensor BU, business development | 38-year career | Strategic, technical, and operational leadership in power and sensing semiconductors |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Anokiwave (private, fabless semi) | Director | Through successful sale in Feb 2024 | Assisted in a successful sale process |
| Committee for Economic Development (Conference Board) | Board of Trustees | Current as of Mar 17, 2025 | Trustee responsibilities |
| Endicott College | Trustee; Finance Committee Member | Current as of Mar 17, 2025 | Finance committee oversight |
Board Governance
| Item | Detail |
|---|---|
| Independence | The Board determined all directors other than the CEO are independent under Nasdaq standards; Mr. Vig is independent . |
| Committee Memberships | Audit Committee member; the 2024 Audit Committee comprised Iyer (Chair), Ganti, Vig . |
| Committee Meetings (2024) | Audit: 5; Compensation: 6; Nominating & Governance: 4 . |
| Audit Committee Oversight | Oversees accounting and reporting; auditor appointment/oversight; related-person transactions; internal control effectiveness; major financial risk exposures; whistleblower procedures . |
| Executive Sessions | Non‑management directors meet in executive session presided over by the Lead Director at least twice per year . |
| Lead Independent Director | Balakrishnan S. Iyer serves as Lead Independent Director (since May 2023) . |
| Annual Meeting Attendance | All seven directors then in office attended the 2024 annual meeting of stockholders . |
Fixed Compensation
| Component | FY 2024 Amount | Notes |
|---|---|---|
| Fees Earned or Paid in Cash | $55,000 | Annual director and committee fees earned in 2024 . |
| Restricted Stock Unit (RSU) Awards (Grant-date Fair Value) | $119,936 | Annual RSU grant value under the Directors Equity Compensation Program . |
| Total | $174,936 | Sum of cash fees and RSU fair value . |
- Effective July 1, 2025, cash fees per quarter are set at: Audit Chair $6,250; Compensation Chair $5,000; Nominating Chair $2,500; non‑chair members: Audit $2,500; Compensation $2,250; Nominating $1,250; Lead Director – Cybersecurity $1,875; 2025 total director compensation is expected to range $252,500–$310,000 based on roles and equity changes .
- CEO/Chairman receives no additional director compensation; only non‑employee directors are compensated .
Performance Compensation
| Item | FY 2024 | FY 2025 Program (subject to approval) |
|---|---|---|
| Annual RSU Grant Value | $120,000 | $200,000 (RSUs) beginning with the first trading day of July 2025 (“Regular Grant Date”), subject to Amended 2016 Plan approval |
| Grant Timing | Annual grant; FY24 at approved $120k level | First trading day of July each year beginning 2025 |
| Vesting | Vests in full immediately prior to the Company’s first annual meeting of stockholders following the grant year, contingent on service as director | Same vest schedule |
| Change-of-Control Treatment | 100% of RSUs deemed fully vested upon a “Change of Control” as defined in the 2016 Plan | Same |
| Performance Metrics | No director performance metrics disclosed; RSUs are time‑based awards |
Other Directorships & Interlocks
| Company | Role | Status | Sector/Interlock Considerations |
|---|---|---|---|
| Allegro MicroSystems, Inc. | Director (while serving as CEO) | Past; retired June 2022 | Semiconductors; industry adjacency to POWI but the Board affirmatively determined Mr. Vig has no material or disqualifying relationship with POWI under Nasdaq independence standards . |
Expertise & Qualifications
- Semiconductor/electronics industry experience; engineering training; public‑company senior management; corporate finance/accounting; human capital; supply chain/manufacturing; sales/marketing; automotive industry exposure, per Board Skills Matrix .
- Strategic, technical, and operational leadership across power and sensing semiconductors; extensive global customer engagement; more than 60 patents in semiconductor/sensor design, applications, packaging .
Equity Ownership
| Holder | Shares Beneficially Owned | Percent of Total | As of |
|---|---|---|---|
| Ravi Vig | 3,342 | <1% (asterisked as less than 1%) | March 17, 2025 |
- The proxy presents director stock ownership but does not disclose any share pledging or hedging for Mr. Vig; Board guidelines address director stock ownership practices generally .
Governance Assessment
- Independence and engagement: Mr. Vig is an independent director and active Audit Committee member; the Audit Committee met five times in 2024, overseeing auditor independence, related‑party transaction review, internal controls, and major financial risks .
- Attendance signal: All directors attended the 2024 annual meeting; non‑management directors hold executive sessions at least twice annually—supportive of robust independent oversight .
- Compensation alignment: 2024 mix was $55k cash and $119,936 RSUs (time‑based). In 2025, director pay is increasing and shifting to larger time‑based RSUs ($200k) plus higher committee fees; vesting accelerates on change‑of‑control, reducing at‑risk elements for directors and warranting monitoring of alignment with shareholder outcomes .
- Ownership: Mr. Vig’s beneficial ownership is modest (3,342 shares, <1%), limiting “skin in the game” but consistent with independent director norms; the Board’s Corporate Governance Guidelines include director stock ownership practices, though specific multiples are not disclosed in the proxy .
- Conflicts: The Board’s independence determination found no material or disqualifying relationships for any non‑management director; Mr. Vig’s prior Allegro role is industry‑adjacent but not identified as a related‑party issue; the Audit Committee has explicit authority to review and approve related‑person transactions .