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MCRL > SEC Filings for MCRL > Form 8-K on 1-Apr-2009All Recent SEC Filings

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Form 8-K for MICREL INC


1-Apr-2009

Other Events


Item 8.01 Other Events.

On March 27, 2009, the Board of Directors (the "Board") of Micrel, Incorporated (the "Company") voted unanimously to amend the Company's Corporate Governance Guidelines (as amended, the "Guidelines") to add a director resignation policy in uncontested elections. The Guidelines now provide that, in an uncontested election, any director who is nominated for election to the Board at a shareholder meeting who receives more votes "withheld" from than votes "for" his or her election, but who is nevertheless elected under the plurality vote standard of the California General Corporation Law, must promptly tender his or her resignation to the Board after the certification of the shareholder vote at such meeting. The Board's Nominating and Corporate Governance Committee (the "Governance Committee") would then consider the director's resignation and recommend to the Board whether to accept or reject the tendered resignation. The Board would then act on the Governance Committee's recommendation within 90 days following certification of the shareholder vote and publicly disclose its decision-making process and its decision regarding whether to accept the directors resignation offer (and the reasons for not accepting the resignation offer if applicable). The Board may amend the Guidelines in its discretion at any time. A copy of the Guidelines, as amended, will be made available shortly on the Company's website at http://www.micrel.com. No portion of this website is incorporated by reference into this Current Report.

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