Gregg Lowe
SILICON LABORATORIESAbout Gregg Lowe
Gregg Lowe, 62, has served as an independent director of Silicon Laboratories Inc. since 2017. He is the former President and CEO of Wolfspeed, Inc. (2017–2024) and previously was President and CEO of Freescale Semiconductor; he spent 27 years at Texas Instruments across sales, marketing, and analog leadership. Lowe holds a B.S. in Electrical Engineering from Rose‑Hulman Institute of Technology and is a graduate of the Stanford Executive Program, bringing deep semiconductor operating expertise, global supply chain, and M&A experience to the SLAB board .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Wolfspeed, Inc. (NYSE: WOLF) | President & CEO | 2017–2024 | Led silicon carbide expansion and industry positioning |
| Freescale Semiconductor (merged with NXP) | President & CEO | 2012–2015 | Executed merger with NXP; prior automotive processing leadership at NXP |
| Texas Instruments (NASDAQ: TXN) | SVP & Analog Business GM; various leadership roles | 27 years | Directed acquisition of National Semiconductor; global sales/marketing leadership |
External Roles
| Organization | Role | Tenure/Status | Notes |
|---|---|---|---|
| Power Integrations Inc. (NASDAQ: POWI) | Director | Current | Public company directorship; power semiconductors adjacency (potential information flow) |
| North Carolina A&T University | Board | Current | Non-profit/academic governance |
| Rock & Roll Hall of Fame | Board | Current | Non-profit governance |
| St. Edward’s High School | Board | Current | Non-profit governance |
Board Governance
- Independence: Board determined Lowe is independent under Nasdaq rules .
- Committee assignments and chair roles (2024):
- Compensation Committee member; 5 meetings held .
- Nominating & Corporate Governance (NCG) Committee Chair; 4 meetings held .
- Attendance: All incumbent directors attended ≥75% of board/committee meetings in 2024; full board held 4 meetings. All directors in office attended the 2024 annual meeting .
- Executive sessions: Independent directors met in executive session 4 times in 2024; Lead Director is Sumit Sadana .
| Committee | Role | 2024 Meetings | Key Oversight |
|---|---|---|---|
| Compensation | Member | 5 | NEO pay design, equity plans, director comp; consultant independence |
| Nominating & Corporate Governance | Chair | 4 | Board composition, sustainability oversight, governance policies |
Fixed Compensation
| Component (Non-Employee Director, 2024) | Amount | Detail |
|---|---|---|
| Annual cash retainer | $55,000 | Standard director retainer |
| Compensation Committee member fee | $9,000 | Member (excl. chair) |
| NCG Committee chair fee | $10,000 | Chair premium |
| Total cash actually earned (Lowe) | $77,345 | Fees earned in FY2024 |
| RSU equity grant (standard) | 1,475 RSUs | Granted at 2024 annual meeting; $200,000 value divided by 30‑day avg price; vests at earlier of 1‑year or day before next AGM |
| Stock awards (Lowe) | $173,313 | Grant date fair value per ASC 718 |
| Director stock ownership guideline | 4x annual cash retainer | Applies to non‑employee directors |
Performance Compensation
The SLAB board’s Compensation Committee (of which Lowe is a member) uses performance-based pay for executives; directors receive time-based RSUs (no performance metrics). Key company metrics and outcomes under oversight:
| 2024 Annual Cash Bonus Metrics | Target/Weight | Result |
|---|---|---|
| Adjusted non-GAAP operating income % | 15% margin; 90% weight | –13.6%; below threshold; no payout |
| Sustainability scorecard (5 goals) | 10% weight | 60% achievement; committee exercised discretion to pay 0% |
| PSU Program Targets | Performance Period | Metrics & Targets | Notes |
|---|---|---|---|
| 2022 grants | FY2022–FY2024 | 3-yr Revenue CAGR (target 20%); OI Margin FY2023 (15.8%), FY2024 (19.5%) | Industry downturn → zero earned units; below thresholds |
| 2023 grants | FY2023–FY2025 | Same metrics; targets 20% CAGR; OI Margin 24.5% (FY2024), 27.7% (FY2025) | In-flight |
| 2024 grants | FY2024–FY2026 | Annual revenue growth (target 20% avg); dynamic OI margin tied to model | Averaged over 3 years; 0–200% payout; no discretionary adjustments |
Comp governance signals:
- No excise tax gross-ups; double-trigger CIC; clawback policy compliant with Nasdaq/Rule 10D-1; hedging/pledging prohibited for directors/officers/employees .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Public company boards | Power Integrations Inc. (POWI) |
| Committee interlocks | None; no insider participation conflicts disclosed |
| Potential interlocks/conflicts | Service at POWI creates adjacency in semis; SLAB policies require advance notice and conflict evaluation for additional boards . No related-party transactions disclosed involving Lowe . |
Expertise & Qualifications
- Core expertise: Semiconductor operations, analog/power, technology marketing/sales, global supply chain, and M&A .
- Education: B.S. EE (Rose‑Hulman); Stanford Executive Program; industry recognition including Rose‑Hulman Career Achievement Award .
- Board skill matrix alignment: Industry/market experience, hardware/software, public company leadership, finance/M&A, global business—all emphasized in SLAB’s competency framework .
Equity Ownership
| Holder | Shares Beneficially Owned | % Outstanding |
|---|---|---|
| Gregg Lowe | 10,676 | <1% (asterisk) |
Policy alignment:
- Director ownership guideline: 4x cash retainer .
- Insider trading policy: Prohibits hedging/pledging; pre-clearance required; blackout periods apply to directors .
Insider Trades
| Date | Filing | Summary |
|---|---|---|
| Apr 22, 2024 | Form 4 | Change in beneficial ownership reported (around 2024 AGM timing) |
| Apr 25, 2025 | Form 4 | Change in beneficial ownership reported (around 2025 AGM timing) |
Note: Director RSU grants and vesting mechanics are disclosed in the proxy; Form 4s typically reflect these award issuances and conversions .
Governance Assessment
- Board effectiveness: Lowe’s leadership as NCG Chair and Compensation Committee member is aligned with SLAB’s governance priorities, including sustainability oversight at the NCG and rigorous pay-for-performance (canceled 2024 cash bonus; 2022 PSU zero payout), supporting investor alignment .
- Independence/attendance: Independent status with robust engagement (committee and executive session participation; ≥75% attendance; 4 independent executive sessions), enhancing oversight quality .
- Compensation alignment: Director pay mix balanced with modest cash ($77k for Lowe in 2024) and equity RSUs ($173k), plus ownership guidelines (4x retainer), indicating skin-in-the-game while avoiding performance-linked equity for directors (reduces short-termism) .
- Potential conflicts: Current board role at POWI creates adjacency but no disclosed related-party transactions; SLAB policies require conflict disclosure and Audit Committee oversight of related-party transactions; hedging/pledging prohibited .
- Risk indicators: 2023 material weakness in inventory accounting noted by EY and subsequent auditor rotation to Deloitte in 2025; not directly tied to Lowe’s committees (Audit chaired by Bock), but board oversight strengthened; continued Audit Committee independence . Say‑on‑pay support ~93% in 2024 indicates shareholder confidence in compensation governance overseen by the committee including Lowe .
Overall, Lowe’s semiconductor CEO pedigree, governance leadership (NCG chair; comp committee), and independent status support board effectiveness. No red flags disclosed regarding related-party transactions, pledging, tax gross-ups, or compensation interlocks; oversight actions (no 2024 bonus; PSU zero payout; clawback policy; double-trigger CIC) are shareholder‑friendly signals .