On July 8, 2024, Microchip Technology Incorporated announced that it has received a shareholder proposal from Presbyterian Mission, Portico Benefit Services, Friends Fiduciary, requesting the Company to commission an independent 3rd party report, at reasonable expense and excluding proprietary information, on Company's due diligence process to determine whether its customers' use of its products contribute or are linked to violations of international humanitarian law. In addition, the Company recommended the shareholders to vote against the proposal at the 2024 annual meeting of shareholders scheduled to be held on August 20, 2024.