Item 8.01 Other Events.
On June 2, 2022, Techpoint, Inc. ("Techpoint") announced that on June 1, 2022,
its board of directors declared the second installment payment of its cash
dividend of an aggregate of $0.50 per share for fiscal 2022, of which $0.25 per
share was paid to stockholders in February 2022. The second installment on
shares of its common stock (including common stock underlying its Japanese
Depositary Shares ("JDS")) will be paid on or around July 18, 2022 to
stockholders of record as of June 30, 2022. The timing for receipt of the
dividend payments by individual holders of Techpoint's common stock and JDS will
vary due to the payment process for JDS holders. The amount paid to JDS holders
will be reduced by any applicable U.S. withholding income tax, and then
converted into Japanese Yen. Once the dividend is converted into Japanese Yen, a
distribution payment fee and any additional local taxes will be paid from the
distribution amount. As a result, the net amount of the second dividend
installment that is ultimately received by JDS holders will be less than $0.25
per JDS. Techpoint anticipates that JDS holders will be paid the second
installment of the fiscal 2022 dividend on or around August 23, 2022.
The payment will be made in accordance with and subject to the terms of the
Trust Agreement dated August 31, 2017 between Techpoint; Mizuho Securities Co.,
Ltd.; Mitsubishi UFJ Trust and Banking Corporation; and The Master Trust Bank of
Japan, Ltd., which agreement governs the rights of JDS holders.
A copy of the press release announcing the cash dividend is attached as Exhibit
99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
99.1 Press Release issued on June 2, 2022
Cover Page Interactive Data File (formatted as Inline XBRL and contained
104 in Exhibit 101).
Although we believe that the expectations reflected in the Press Release are
reasonable, we cannot guarantee future results, level of activity, performance
or achievements. The Press Release only as of the date on which it is made. We
disclaim any duty to update any of the Press Release after the date of the Press
Release, except as required by law.
1
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses