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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table

The following table sets forth the CAP to our PEO and average of our Non-PEO NEOs, serving in such capacity, along with certain measures of Company performance in each of the four years ended December 31, 2023, December 31, 2022, December 31, 2021 and December 31, 2020:

Summary

Average Summary

 

Average

 

Value of Initial Fixed

Compensation

Compensation

Compensation

Compensation

 

$100 Investment Based on

Table

Actually Paid

Table Total for

Actually Paid

 

Total Shareholder

Peer Group

Total

to the

Non-PEO

to Non-PEO

 

Return

Total Shareholder

(in thousands)

Year

for PEO

PEO (1) (2)

NEOs

NEOs (1) (3)

 

(TSR) - POWI

Return (4)

Net Income

Net Revenues

2023

$

8,218,982

$

6,836,603

$

2,503,959

$

2,415,342

 

$

171.35

$

238.72

$

55,735

$

444,538

2022

$

7,015,329

$

(13,137,041)

$

1,737,581

$

(725,064)

$

148.28

$

142.94

$

170,851

$

651,138

2021

$

6,564,685

$

16,724,842

$

1,784,763

$

3,351,766

 

$

190.35

$

219.51

$

164,413

$

703,277

2020

$

5,733,115

$

23,622,794

$

1,514,513

$

4,824,198

 

$

166.78

$

153.66

$

71,176

$

488,318

(1)See supplemental disclosures below for adjustments made to arrive at CAP for PEO and Non-PEO NEOs.
(2)For fiscal years 2023, 2022, 2021 and 2020, Balu Balakrishnan served as our President and Chief Executive officer.
(3)For fiscal years 2023, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Sunil Gupta and Yang Chiah Yee. For fiscal 2022 and 2021, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Mike Matthews and Yang Chiah Yee. For fiscal year 2020, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Mike Matthews and Ben Sutherland.
(4)Peer Group TSR is based on Philadelphia Stock Exchange Semiconductor Sector Index (SOX) (the “Industry Index”). SOX is a market cap weighted index of 30 US-listed semiconductor companies.
     
Company Selected Measure Name Net Revenues      
Named Executive Officers, Footnote
(2)For fiscal years 2023, 2022, 2021 and 2020, Balu Balakrishnan served as our President and Chief Executive officer.
(3)For fiscal years 2023, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Sunil Gupta and Yang Chiah Yee. For fiscal 2022 and 2021, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Mike Matthews and Yang Chiah Yee. For fiscal year 2020, Non-PEO NEOs were Sandeep Nayyar, Radu Barsan, Mike Matthews and Ben Sutherland.
     
Peer Group Issuers, Footnote
(4)Peer Group TSR is based on Philadelphia Stock Exchange Semiconductor Sector Index (SOX) (the “Industry Index”). SOX is a market cap weighted index of 30 US-listed semiconductor companies.
     
PEO Total Compensation Amount $ 8,218,982 $ 7,015,329 $ 6,564,685 $ 5,733,115
PEO Actually Paid Compensation Amount $ 6,836,603 (13,137,041) 16,724,842 23,622,794
Adjustment To PEO Compensation, Footnote

The below table shows the reconciliation between amounts reported in the Summary Compensation Table to arrive at CAP for our PEO.

Summary

Exclusion of

Exclusion of

Inclusion of

Inclusion of

Compensation

Compensation

Change in

Stock

 

Pension Service

Equity

Actually

Table Total for

Pension Value for

Awards for

 

Cost for

Values for

Paid to

Year

PEO

PEO

PEO

PEO

PEO (1)

PEO

2023

$

8,218,982

$

7,497,159

$

6,114,780

$

6,836,603

2022

$

7,015,329

$

6,310,294

$

(13,842,076)

$

(13,137,041)

2021

$

6,564,685

$

5,890,071

$

16,050,228

$

16,724,842

2020

$

5,733,115

$

5,080,867

$

22,970,546

$

23,622,794

(1)As calculated in table below for Total – Inclusion of Equity Values PEO.

The below table shows the changes in fair value of equity awards as reported in Inclusion of Equity Values for our PEO above.

 

Fair Value at

Fair Value of

Change in Value

Change in Value

 

Last Day of

Total -

Unvested Current Year

of Prior Year Awards

of Unvested Equity

 

Prior Year for Awards

Inclusion

Awards at FYE

Vesting During the Year

from Prior Years

 

forfeited during FYE

of Equity Values

Year

PEO

PEO

PEO

PEO

PEO

2023

$

3,894,839

$

1,295,231

$

924,710

$

6,114,780

2022

$

2,954,864

$

(1,405,458)

$

(8,508,705)

$

(6,882,777)

$

(13,842,076)

2021

$

10,403,680

$

936,780

$

4,709,768

$

16,050,228

2020

$

13,261,320

$

204,564

$

9,504,662

$

22,970,546

     
Non-PEO NEO Average Total Compensation Amount $ 2,503,959 1,737,581 1,784,763 1,514,513
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,415,342 (725,064) 3,351,766 4,824,198
Adjustment to Non-PEO NEO Compensation Footnote

The below table shows the reconciliation between amounts reported in the Summary Compensation Table to arrive at CAP on average for our Non-PEO NEOs.

Average

Average

Average

Average

Average

Average

Summary

Exclusion of

Exclusion of

Inclusion of

Inclusion of

Compensation

Compensation

Change in

Stock

 

Pension Service

Equity

Actually

Table Total

Pension Value for

Awards for

 

Cost for

Values for

Paid to

Year

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs (1)

Non-PEO NEOs

2023

$

2,503,959

$

2,080,893

$

1,992,276

$

2,415,342

2022

$

1,737,581

$

1,325,853

$

(1,136,792)

$

(725,064)

2021

$

1,784,763

$

1,415,573

$

2,982,576

$

3,351,766

2020

$

1,514,513

$

1,145,772

$

4,455,457

$

4,824,198

(1)As calculated in table below for Total - Average Inclusion of Equity Values Non-PEO NEOs.

The below table shows the changes in fair value of equity as reported in Average Inclusion of Equity Values for Non-PEO NEOs above.

Average

Average

Average

Average

Fair Value at

Fair Value of

Change in Value

Change in Value

 

Last Day of

Total -

Unvested Current Year

of Prior Year Awards

of Unvested Equity

 

Prior Year for Awards

Average Inclusion

Awards at FYE

Vesting During the Year

from Prior Years

 

forfeited during FYE

of Equity Values

Year

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs

Non-PEO NEOs

2023

$

1,539,065

$

244,169

$

209,042

$

1,992,276

2022

$

871,398

$

(272,164)

$

(1,141,604)

$

(594,422)

$

(1,136,792)

2021

$

2,148,662

$

153,008

$

680,906

$

2,982,576

2020

$

2,627,706

$

48,406

$

1,779,345

$

4,455,457

     
Equity Valuation Assumption Difference, Footnote

The fair value of our equity awards is determined in accordance with the provisions of ASC 718-10, Stock Compensation. Time-vested restricted stock unit grant date fair values are calculated using the stock price as of date of grant. Adjustments have been made using the stock price as of year end and as of each date of vest to reflect the change in fair value. Performance-based restricted stock unit grant date fair values are calculated using the stock price as of date of grant assuming target performance. Adjustments have been made using the stock price and performance expectations as of year end and as of the date of vest to reflect the change in fair value.

     
Compensation Actually Paid vs. Total Shareholder Return

The following graph shows the relationship between CAP and TSR for both the Company and Industry Index, as represented by the Philadelphia Stock Exchange Semiconductor Sector Index. TSR shows the cumulative total return on an investment of $100 in cash on December 31, 2019, through December 31, 2023, in our common stock and the Industry Index, assuming that all dividends were reinvested. The return shown on the graph below is not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns.

Graphic

     
Compensation Actually Paid vs. Net Income

The following graph shows the relationship between CAP and Net Income:

Graphic

     
Compensation Actually Paid vs. Company Selected Measure

The following graph shows the relationship between CAP and Net Revenues:

Graphic

     
Total Shareholder Return Vs Peer Group

The following graph shows the relationship between CAP and TSR for both the Company and Industry Index, as represented by the Philadelphia Stock Exchange Semiconductor Sector Index. TSR shows the cumulative total return on an investment of $100 in cash on December 31, 2019, through December 31, 2023, in our common stock and the Industry Index, assuming that all dividends were reinvested. The return shown on the graph below is not necessarily indicative of future performance, and we do not make or endorse any predictions as to future stockholder returns.

Graphic

     
Tabular List, Table

The following are the Company’s three most important performance measures for determining NEO compensation for 2023:

2023 Performance Measures

Net Revenues

Non-GAAP Operating Income

Relative Revenue (1)

(1)Relative Revenue refers to the Company’s Revenue CAGRs as compared to the Revenue CAGR of the analog semiconductor industry over similar periods. See section “Mechanics of 2023 Performance-based Equity Incentive Awards” above for further details.
     
Total Shareholder Return Amount $ 171.35 148.28 190.35 166.78
Peer Group Total Shareholder Return Amount 238.72 142.94 219.51 153.66
Net Income (Loss) $ 55,735,000 $ 170,851,000 $ 164,413,000 $ 71,176,000
Company Selected Measure Amount 444,538,000 651,138,000 703,277,000 488,318,000
PEO Name Balu Balakrishnan      
Measure:: 1        
Pay vs Performance Disclosure        
Name Net Revenues      
Measure:: 2        
Pay vs Performance Disclosure        
Name Non-GAAP Operating Income      
Measure:: 3        
Pay vs Performance Disclosure        
Name Relative Revenue      
PEO | Exclusion of Stock Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (7,497,159) $ (6,310,294) $ (5,890,071) $ (5,080,867)
PEO | Inclusion of Equity Values        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 6,114,780 (13,842,076) 16,050,228 22,970,546
PEO | Fair Value of Unvested Current Year Awards at FYE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 3,894,839 2,954,864 10,403,680 13,261,320
PEO | Change in Value of Prior Year Awards Vesting During the Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,295,231 (1,405,458) 936,780 204,564
PEO | Change in Value of Unvested Equity from Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 924,710 (8,508,705) 4,709,768 9,504,662
PEO | Fair Value at Last Day of Prior Year for Awards forfeited during FYE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (6,882,777)    
Non-PEO NEO | Exclusion of Stock Awards        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,080,893) (1,325,853) (1,415,573) (1,145,772)
Non-PEO NEO | Inclusion of Equity Values        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,992,276 (1,136,792) 2,982,576 4,455,457
Non-PEO NEO | Fair Value of Unvested Current Year Awards at FYE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,539,065 871,398 2,148,662 2,627,706
Non-PEO NEO | Change in Value of Prior Year Awards Vesting During the Year        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 244,169 (272,164) 153,008 48,406
Non-PEO NEO | Change in Value of Unvested Equity from Prior Years        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ 209,042 (1,141,604) $ 680,906 $ 1,779,345
Non-PEO NEO | Fair Value at Last Day of Prior Year for Awards forfeited during FYE        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   $ (594,422)