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ALLEGRO MICROSYSTEMS INC

For the period ended Mar 29, 2024. Filed May 23, 2024.

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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed May 23, 2024

ALGM$28.17+5.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended March 29,2024

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _______________ to _______________

Commission File Number:001-39675

(Exact name of registrant as specified in its charter)

Delaware46-2405937
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
955 Perimeter RoadManchester, New Hampshire03103
(Address of principal executive offices)(Zip Code)

(603)626-2300

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTradingSymbol(s)Name of each exchange on which registered
Common Stock, par value $0.01 per shareALGMThe Nasdaq Global Select Market

Securities registered pursuant to Section 12(g) of the Act: None.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No☐

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☒Accelerated filer☐
Non-accelerated filer☐Smaller reporting company☐
Emerging growth company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☒

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐ No☒

As of September 29, 2023, the last business day of the registrant’s most recently completed second fiscal quarter, the aggregate market value of the voting and non-voting common equity held by non-affiliates was$2,567,653,518 based on the closing sale price as reported on the NASDAQ Global Select Market on such date.

As of May 20, 2024, the registrant had 193,748,130 shares of common stock, $0.01 par value per share, outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Portions of the registrant’s proxy statement for its 2024 Annual Meeting of Stockholders to be filed pursuant to Regulation 14A within 120 days of the end of the registrant’s fiscal year ended March 29, 2024 are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein.

TABLE OF CONTENTS

Page
Forward Looking Statements1
PART I.
Item 1.Business3
Item 1A.Risk Factors18
Item 1B.Unresolved Staff Comments32
Item 1C.Cybersecurity32
Item 2.Properties34
Item 3.Legal Proceedings34
Item 4.Mine Safety Disclosures35
PART II.
Item 5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities35
Item 6.Reserved36
Item 7.Management’s Discussion and Analysis of Financial Condition and Results of Operations37
Item 7A.Quantitative and Qualitative Disclosures About Market Risk48
Item 8.Financial Statements and Supplementary Data48
Item 9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure49
Item 9A.Controls and Procedures49
Item 9B.Other Information49
Item 9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections50
PART III.
Item 10.Directors, Executive Officers and Corporate Governance51
Item 11.Executive Compensation51
Item 12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters52
Item 13.Certain Relationships and Related Transactions, and Director Independence52
Item 14.Principal Accountant Fees and Services52
PART IV.
Item 15.Exhibit and Financial Statement Schedules53
Signatures58
Index to Consolidated Financial StatementsF-1
Reports of Independent Registered Public Accounting FirmsF-2
Consolidated Balance SheetsF-5
Consolidated Statements of OperationsF-6
Consolidated Statements of Comprehensive IncomeF-7
Consolidated Statements of Changes in Stockholders’ EquityF-8
Consolidated Statements of Cash FlowsF-9
Notes to Consolidated Financial StatementsF-11
ContentsView on SEC.gov

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