Synaptics Tells Its Own Employees To Vote For $123-A-Share onsemi Cash Deal
Staff who got stock as pay will receive $123.00 per share in cash if the onsemi merger closes, the company told them Monday.
Synaptics, which designs chips and software for touch, wireless connectivity and on-device AI, e-mailed its employees Monday urging them to vote for its sale to onsemi, reminding staff paid in stock that their shares convert to $123.00 each in cash at closing.
A direct pitch to staff shareholders
The message says the board unanimously recommends voting FOR every proposal at a special shareholder meeting on November 17, 2026. It calls the vote a critical step in completing the transaction with onsemi.
The company told employees their vote counts regardless of how many shares they own. Many hold stock through E*TRADE, and the e-mail said they should already have received voting instructions from E*TRADE, or from their broker if they moved the shares.
Staff may also get phone calls from MacKenzie Partners, the proxy solicitor Synaptics hired to chase votes. The company described that as appropriate outreach and said employees can vote by phone.
Three proposals on the ballot
Shareholders will decide the merger agreement itself, an advisory proposal on compensation tied to the deal, and a proposal to adjourn the meeting. Details are in the definitive proxy statement, which Synaptics filed with the SEC on October 19, 2026, and which the e-mail urged employees to read.
The business and the backdrop
Synaptics sells Astra processors, Wi-Fi and Bluetooth connectivity, touch controllers, fingerprint sensors and display connectivity to makers of phones, PCs, cars and smart-home and industrial devices. Its 10-K for the fiscal year ended June 27, 2026 showed about 1,700 employees as of June 2026. The company's market value was $4.7 billion.
Shareholders already met once this month. At the annual meeting on October 27, they elected eight directors and approved an amended equity plan.
The investor-rights firm Halper Sadeh said it is investigating whether the onsemi sale is fair to Synaptics shareholders.
The vote comes at the November 17 special meeting, where the board is asking for approval of all three proposals.
Sources
- Synaptics — DEFA14A (2026-11-02) — SEC EDGAR
- Synaptics Shareholders Back Board, Auditor and Equity Plan - The Globe and Mail — theglobeandmail.com
- Synaptics Inc. (NASDAQ:SYNA) : Cases :: Law360 — law360.com
- Halper Sadeh LLC is Investigating Whether SRGY, CSR, SYNA — globenewswire.com
