DRAFT Exhibit (c)(4) Project Sting Presentation to the Board of Directors of Sting July 25, 2023 STRICTLY PRIVATE & CONFIDENTIAL

DRAFT Presentation Basis ▪ This presentation was prepared on a confidential basis exclusively for the benefit and use of the Board of Directors of Sting (the “Company”). This presentation is subject to the assumptions, qualifications and limitations set forth herein. This presentation is for discussion purposes only. It is not a recommendation as to how any Board member should vote, and does not carry any right of publication or disclosure. Neither this presentation nor any of its contents may be used for any other purpose without the prior written consent of Needham & Company, LLC. ▪ The information contained in this material is based on information obtained from the Company and other sources. Needham & Company, LLC has relied upon the accuracy and completeness of the foregoing information and has neither attempted to verify independently nor assumed responsibility for verifying any of such information. Any financial estimates and projections contained herein have been prepared by management or are based upon such estimates and projections, and involve numerous and significant subjective determinations, which may or may not be correct, and we have assumed that such estimates and projections have been reasonably prepared on bases reflecting the best currently available estimates and judgments of management or represent reasonable estimates. No representation or warranty, expressed or implied, is made as to the accuracy or completeness of such information and nothing contained herein is, or shall be relied upon as, a promise or representation, whether as to the past or the future. This material was not prepared for use by readers not as familiar with the business and affairs of the Company as the Board of Directors of the Company and, accordingly, Needham & Company, LLC takes no responsibility for the accompanying material when used by persons other than the Board of Directors. ▪ Nothing contained herein should be construed as tax, accounting, or legal advice. NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 1

DRAFT Table of Contents Section 1 Selected Public Companies Analysis Section 2 Selected Transactions Analysis NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 2

DRAFT Selected Public Companies Analysis NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 3

DRAFT Selected Public Companies Analysis – Margin Data ($ in millions) Last Twelve Months LTM Margin Analysis '23E / '24E '24E / '25E CY '24E CY '25E Gross Adjusted Gross Adjusted Revenue Revenue Adj. EBITDA Adj. EBITDA Company Revenue Profit EBITDA Profit EBITDA Growth Growth Margin Margin Selected Companies (1) $ 1,104.8 $ 635.5 $ 327.2 57.5% 29.6% 9.8% 21.8% 30.2% 30.9% (2) 693.1 375.9 148.6 54.2% 21.4% 22.1% 20.9% 17.3% 20.0% (3) 3,569.4 1,296.9 627.6 36.3% 17.6% 26.9% 8.6% 24.9% 26.8% (4) 790.9 452.3 119.6 57.2% 15.1% 17.3% (11.2)% 18.5% NA (3) 1,037.1 640.6 223.4 61.8% 21.5% 10.9% 18.8% 19.7% 24.2% (1) 5,121.9 2,416.9 2,217.3 47.2% 43.3% 7.7% 4.5% 41.2% 46.3% (3) 16,829.0 7,786.0 6,667.0 46.3% 39.6% 3.3% 6.5% 35.9% 37.7% (5) 1,604.2 880.8 591.3 54.9% 36.9% 28.6% 3.0% 25.8% 30.1% (6) 653.9 321.5 176.2 49.2% 26.9% ( 0.2)% (0.9)% 19.2% 20.6% Mean 51.6% 28.0% 14.0% 8.0% 25.9% 29.6% Median 54.2% 26.9% 10.9% 6.5% 24.9% 28.4% Notes: Source: SEC filings; Company filings, Bloomberg consensus estimates Adjusted EBITDA excludes the impact of stock-based compensation expense, and one-time expenses 1. Last twelve month figures reflect the period ending March 31, 2023 2. Last twelve month figures reflect the period ending June 30, 2023 3. Last twelve month figures reflect the period ending April 1, 2023 4. Last twelve month figures reflect the period ending April 30, 2023 5. Last twelve month figures reflect the period ending March 25, 2023 6. Last twelve month figures reflect the period ending December 31, 2022 NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 4

DRAFT Selected Public Companies Analysis – Multiples Data ($ in millions, except per share values) Stock Enterprise Value / Price Market Enterprise Revenues Adj. EBITDA Company 7/24/2023 Value Value LTM CY '23E CY '24E CY '25E LTM CY '23E CY '24E CY '25E Selected Companies (1) $ 33.60 $ 3,039 $ 2,934 2.7x 3.6x 3.2x 2.7x 9.0x 14.9x 10.8x 8.6x (2) 14.37 2,780 2,528 3.6x 4.0x 3.2x 2.7x 17.0x 28.7x 18.7x 13.4x (3) 106.75 10,742 11,981 3.4x 3.7x 3.0x 2.7x 19.1x 40.7x 11.9x 10.2x (4) 27.58 1,812 3,027 3.8x 3.2x 2.7x 3.0x 25.3x 21.6x 14.6x NA (3) 155.85 5,180 4,558 4.4x 4.5x 4.1x 3.4x 20.4x 22.9x 20.7x 14.2x (1) 112.59 18,189 19,119 3.7x 4.0x 3.7x 3.6x 8.6x 10.0x 9.0x 7.7x (3) 50.60 46,302 44,514 2.6x 2.6x 2.5x 2.3x 6.7x 7.2x 6.9x 6.2x (5) 89.40 3,819 3,864 2.4x 3.7x 2.9x 2.8x 6.5x 17.9x 11.1x 9.2x (6) 108.95 809 725 1.1x 1.0x 1.0x 1.0x 4.1x 4.5x 5.0x 4.7x Mean 3.1x 3.3x 2.9x 2.7x 13.0x 18.7x 12.1x 9.3x Median 3.4x 3.7x 3.0x 2.7x 9.0x 17.9x 11.1x 8.9x Notes: Market statistics reflect closing stock prices on July 24,2023 Source: SEC filings; Company filings, Bloomberg consensus estimates Adjusted EBITDA excludes the impact of stock-based compensation expense, one-time expenses and restructuring expense Figures marked ‘NM’ correspond to amounts which are greater than 100x; figures marked ‘NEG’ correspond to amounts which are less than 0; figures marked ‘NA’ correspond to unavailable or insufficient data 1. Last twelve month figures reflect the period ending March 31, 2023 2. Last twelve month figures reflect the period ending June 30, 2023 3. Last twelve month figures reflect the period ending April 1, 2023 4. Last twelve month figures reflect the period ending April 30, 2023 5. Last twelve month figures reflect the period ending March 25, 2023 6. Last twelve month figures reflect the period ending December 31, 2022 NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 5

DRAFT Selected Transactions Analysis NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 6

DRAFT Selected Transactions Analysis ($ in millions) Announce Close Equity Enterprise Enterprise Value / Enterprise Value / NTM Revenue (1) Date Date Acquirer Target Value ($M) LTM Revenue NTM Revenue Growth Value ($M) (2) 9/30/2022 3/3/2023 $ 151 $ 101 1.1x 1.6x ( 33.2)% (3) 8/2/2022 1/12/2023 1,279 1,241 2.3x 1.8x 27.5% (4) 8/30/2021 12/2/2021 564 434 3.4x 3.0x 15.3% (5) 5/25/2021 8/26/2021 436 372 1.1x 1.0x 11.5% (5) 2/8/2021 8/30/2021 5,887 5,591 4.2x 3.9x 9.5% (6) 2/20/2020 6/29/2020 440 458 3.9x 3.2x 22.8% (7) 6/2/2019 4/16/2020 9,154 9,730 4.0x 4.4x ( 9.1)% (8) 3/27/2019 6/19/2019 1,053 917 4.2x 3.6x 15.8% 3/7/2019 5/31/2019 45 45 1.5x NA NA Mobile Communications Business (9) 9/10/2018 3/29/2019 6,667 6,817 7.8x 7.1x 9.5% 6/29/2018 9/14/2018 44 25 0.8x NA NA 5/9/2018 5/9/2018 35 35 2.7x NA NA High 7.8x 7.1x 2 7.5% Mean 3.1x 3.3x 7 .7% Median 3.1x 3.2x 1 1.5% Notes: Low 0.8x 1.0x ( 33.2)% Source: SEC filings, public filings, Company press releases, Bloomberg consensus estimates, 451 Research 1. Equity value used as a proxy for enterprise value when balance sheet information not available 6. Next twelve month figures reflect the period ending December 31, 2020 2. Next twelve month figures reflect the period ending September 30, 2023 3. Next twelve month figures reflect the period ending June 30, 2023 7. Next twelve month figures reflect the period ending March 31, 2020 4. Next twelve month figures reflect the period ending September 30, 2022 8. Next twelve month figures reflect the period ending December 31, 2019 9. Next twelve month figures reflect the period ending July 1, 2019 5. Next twelve month figures reflect the period ending December 31, 2021 NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 7

DRAFT Selected Transactions Premiums Analysis Announce Close Offer Offer Price Premium to VWAP: Date Date Acquirer Target Price 1-Day 5-Days 30-Days 45-Days (1) 9/30/2022 3/3/2023 FNOF Precious Honour Ltd. O2Micro International $ 5.00 46.5% 38.3% 24.9% 23.0% (2) 8/2/2022 1/12/2023 Semtech Sierra Wireless 39.88 26.4% 38.1% 29.3% 30.9% (3) 8/30/2021 12/2/2021 Synaptics DSP Group 22.00 19.6% 24.6% 35.9% 38.3% (4) 5/25/2021 8/26/2021 DBAY Advisors Telit Communications 2.30 28.7% 28.7% 29.3% 28.9% (5) 2/8/2021 8/30/2021 Renesas Electronics Dialog Semiconductor 67.50 21.9% 25.1% 34.7% 40.7% (6) 2/20/2020 6/29/2020 Dialog Semiconductor Adesto Technologies 12.55 59.5% 62.2% 53.6% 54.2% (7) 6/2/2019 4/16/2020 Infineon Technologies Cypress Semiconductor 23.85 55.2% 54.4% 46.3% 47.9% (8) 3/27/2019 6/19/2019 ON Semiconductor Quantenna Communications 24.50 17.9% 18.6% 26.0% 33.6% (9) 9/10/2018 3/29/2019 Renesas Electronics Integrated Device Technology 49.00 29.7% 29.7% 36.8% 38.9% (10) 6/29/2018 9/14/2018 Adesto Technologies Echelon 8.50 103.7% 102.0% 101.0% 101.1% 75th Quartile 53.1% 50.4% 43.9% 46.1% Mean 40.9% 42.2% 41.8% 43.7% Median 29.2% 33.9% 35.3% 38.6% 25th Quartile 23.1% 26.0% 29.3% 31.6% Notes: Source: Company Press Releases, FactSet Research Systems Offer price premium calculated as the percentage difference of the offer price over the volume weighted average price over the 1-, 5-, 30- and 45- and trading day periods before the last unaffected trading day of the stock’s price 1. O2Micro’s last unaffected full-day of trading is March 11, 2022 2. Sierra Wireless’ last unaffected full-day of trading is July 29, 2022 3. DSP Group’s last unaffected full-day of trading is August 27, 2021 4. Telit Communications’ last unaffected full-day of trading is November 2, 2020 5. Dialog’s last unaffected full-day of trading is February 5, 2021 6. Adesto’s last unaffected full-day of trading is February 19, 2020 7. Cypress’ last unaffected full-day of trading is May 28, 2019 8. Quantenna’s last unaffected full day of trading March 27, 2019 9. Integrated Device Technologies last unaffected full-day of trading is August 30, 2018 10. Echelon’s last unaffected full-day of trading is June 28, 2018 NEEDHAM & COMPANY STRICTLY PRIVATE & CONFIDENTIAL 8