Business: Microchip Technology Inc Depositary Shares each representing a 1/20 interest in a share of the 7.50% Series A Mandatory Convertible Preferred Stock, liquidation preference $50 per Depositary share, not redeemable at the issuer's option on and maturing 03/15/2028. <p>The preferred shares are mandatorily convertible on 03/15/2028 into a variable number of Microchip Technology Inc (NYSE: (MCHP) common shares based on the then current price of the common shares for 20 consecutive trading days immediately prior to the conversion date. The conversion settlement rate will be 0.8003 shares per unit if the then current market price is equal to or greater than $62.4766 and 0.9804 shares per unit if the market price is equal to or less than $50.9996. For market prices between those values the settlement rate will be $50 divided by the market value. The last reported sale price of the common stock on (__) was $(__) per share. The preferred shares are convertible any time at the holder’s option into 0.8003 shares of common stock. <p> Cumulative distributions of 7.50% per annum ($3.75 per annum or $0.9375 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on 3/1, 6/1, 9/1 & 12/1 prior to the payment date (NOTE: the ex-dividend date is the record date). <p> Dividends paid by this preferred security are NOT eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions are taxed at normal rates, however are eligible for the dividends received deduction for corporate holders (see page S-72 of the prospectus for further information). <p> If a Fundamental Change occurs on or prior to 03/28/2028 holders of shares will have the right to convert into common stock at the fundamental change conversion rate plus a fundamental change dividend make-whole amount (see prospectus for further information). <p> This security was not rated by Moody’s or S&P at the time of its IPO. In regard to the payment of distributions and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.