Monolithic Power Systems management check
MPWR · Information Technology · Semiconductors · CEO Michael Hsing
Filings as of
4 good · 1 to watch · 2 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $257, against $253 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.88 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Flag
What does the CEO cost owners?
3.2% of net income$19.9m of reported pay in fiscal 2025, against $621.5m of net income.
- Watch
Do they own the stock?
CEO stake ≈ 58 years of payThe CEO holds 847,668 shares, directly or through trusts (unvested awards not counted): about 58 years of pay. 9 insiders sold $233.0m in the last six months and none bought. 38 of 79 sales ran on pre-arranged 10b5-1 plans.
- Good
Are owners being diluted?
Share count shrinkingDiluted shares changed -0.5% a year over the last three fiscal years. Stock-based pay was 8.2% of revenue in the latest year.
- Good
Is leadership stable?
2 leadership filings in 3 yearsCEO in the pay table: Mr. Hsing. 2 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Flag
Are the books clean?
Red flags on file1 restatement notice (8-K 4.02) since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Information Technology.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 52 | 33 | |
| Pay for performance | 94 | 87 | |
| CEO cost | 8 | 35 | |
| Skin in the game | 80 | 47 | |
| Dilution | 56 | 56 | |
| Stable leadership | 100 | 85 | |
| Clean books | 30 | 100 |
Closest peers
Others in Semiconductors, by management score. Monolithic Power Systems is 40th of 73 in its sector.
- 20NVDANvidia86
- 101ONON Semiconductor76
- 112AVGOBroadcom75
- 117MUMicron Technology75
- 132FSLRFirst Solar73
- 235MRVLMarvell Technology66
- 236QCOMQualcomm65
- 314ADIAnalog Devices60
- 319MPWRMonolithic Power Systems60
- 373TXNTexas Instruments56
Pay versus performance
From the proxy statement filed April 30, 2026. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Mr. Hsing | $19.9m | $250.2m | $8.5m | $257 | $253 | $621.5m |
| 2024 | — | $19.0m | $21.9m | $8.1m | $166 | $178 | $1.6bn |
| 2023 | — | $14.6m | $138.3m | $5.9m | $176 | $149 | $427.4m |
| 2022 | — | $20.7m | −$66.6m | $8.6m | $98 | $91 | $437.7m |
| 2021 | — | $20.3m | $114.1m | $7.2m | $135 | $141 | $242.0m |
The board says pay is tied most to non-GAAP operating income. Its other key measures: Revenue growth rate, Non-GAAP operating income, Relative TSR, Manufacturing capacity, Revenue generated from EV manufacturers, Revenue generated from products for EV powertrains and 48-volt electrical systems.
Insiders and the CEO's stake
Michael Hsing (CEO) held 847,668 shares directly after their latest Form 4 on Sep 28, 2026, roughly $1.2bn at that filing's price.
9 insiders sold $233.0m in the last six months and none bought. 38 of 79 sales ran on pre-arranged 10b5-1 plans.
- SoldMichael HsingCEO$99.7mSep 28, 2026
- SoldDeming XiaoEVP, Global Operations$49.6mMay 6, 2026
- SoldMaurice SciammasEVP, WW Sales & Marketing$39.8mAug 3, 2026
- SoldSaria TsengEVP & General Counsel$20.8mMay 27, 2026
Leadership and governance on file
- Feb 27, 2026Restatement notice8-K 4.02
- Feb 5, 2026Leadership change8-K 5.02
- Oct 22, 2024Leadership change8-K 5.02
- Jun 15, 2023Leadership change8-K 5.02
- Feb 8, 2023Leadership change8-K 5.02
Latest shareholder vote results: Jun 12, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $1.6bn returned to owners in buybacks and dividends, 48% of net income, and $867.3m of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $1.2bn | $1.8bn | $1.8bn | $2.2bn | $2.8bn |
| Net income | $242.0m | $437.7m | $427.4m | $1.6bn | $621.5m |
| Stock-based pay | $123.5m | $161.0m | $149.7m | $205.6m | $227.5m |
| Buybacks | $0 | $0 | $3.7m | $636.2m | $6.6m |
| Dividends | $109.4m | $138.0m | $185.8m | $240.6m | $284.8m |
| Diluted shares | 48m | 48m | 49m | 49m | 48m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.