d8k04152010.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 


 


FORM 8-K
 
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
 
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): April 15, 2010


 
 
 

TEXAS INSTRUMENTS INCORPORATED
(Exact name of registrant as specified in charter)
 
         
DELAWARE
  
001-03761
  
75-0289970
(State or other jurisdiction of incorporation)
  
(Commission file number)
  
(I.R.S. employer identification no.)
 
12500 TI BOULEVARD
P.O. BOX 660199
DALLAS, TEXAS 75266-0199
(Address of principal executive offices)
 
Registrant’s telephone number, including area code: (972) 995-3773
 




 
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 
 
 

ITEM 5.07.  Submission of Matters to a Vote of Security Holders.

At the annual meeting of stockholders held on April 15, 2010, the stockholders elected TI’s Board of Directors and voted upon one Board proposal contained within our Proxy Statement dated March 4, 2010.

The Board nominees were elected with the following vote:

Nominee
  
 
 
For
    
 
 
Against
    
Abstentions
    
 
Broker-Non
Votes
  
                         
Ralph W. Babb
     916,925,799       6,443,670       2,166,407       120,391,301  
David L. Boren
     897,024,580       27,053,474       1,457,822       120,391,301  
Daniel A. Carp
     905,825,426       17,533,450       2,177,000       120,391,301  
Carrie S. Cox
     915,152,070       8,289,382       2,094,424       120,391,301  
David R. Goode
     905,974,083       17,261,930       2,299,863       120,391,301  
Stephen P. MacMillan
     917,157,141       6,233,688       2,145,047       120,391,301  
Pamela H. Patsley
     902,008,869       21,397,290       2,129,717       120,391,301  
Wayne R. Sanders
     908,819,762       14,,420,466       2,295,648       120,391,301  
Ruth J. Simmons
     879,798,670       43,484,383       2,252,823       120,391,301  
Richard K. Templeton
     894,995,483       28,692,867       1,847,526       120,391,301  
Christine Todd Whitman
     911,538,069       11,877,614       2,120,193       120,391,301  

The Board proposal was approved with the following vote:

Proposal
  
For
    
Against
    
Abstentions
  
                   
Board proposal to ratify the appointment of Ernst & Young LLP as the company's independent registered public accounting firm for 2010
     1,033,217,323       10,446,177       2,263,675  

 

 
 
 

“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This report includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements in this report that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
 
We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of TI or its management:

 
 
•
Market demand for semiconductors, particularly in key markets such as communications, entertainment electronics and computing;
 
 
 
•
TI’s ability to maintain or improve profit margins, including its ability to utilize its manufacturing facilities at sufficient levels to cover its fixed operating costs, in an intensely competitive and cyclical industry;
 
 
 
•
TI’s ability to develop, manufacture and market innovative products in a rapidly changing technological environment;
 
 
 
•
TI’s ability to compete in products and prices in an intensely competitive industry;
 
 
 
•
TI’s ability to maintain and enforce a strong intellectual property portfolio and obtain needed licenses from third parties;
 
 
 
•
Expiration of license agreements between TI and its patent licensees, and market conditions reducing royalty payments to TI;
 
 
 
•
Economic, social and political conditions in the countries in which TI, its customers or its suppliers operate, including security risks, health conditions, possible disruptions in transportation networks and fluctuations in foreign currency exchange rates;
 
 
 
•
Natural events such as severe weather and earthquakes in the locations in which TI, its customers or its suppliers operate;
 
 
 
•
Availability and cost of raw materials, utilities, manufacturing equipment, third-party manufacturing services and manufacturing technology;
 
 
 
•
Changes in the tax rate applicable to TI as the result of changes in tax law, the jurisdictions in which profits are determined to be earned and taxed, the outcome of tax audits and the ability to realize deferred tax assets;
 
 
 
•
Changes in laws and regulations to which TI or its suppliers are or may become subject, such as those imposing fees or reporting or substitution costs relating to the discharge of emissions into the environment or the use of certain raw materials in our manufacturing processes;
 
 
 
•
Losses or curtailments of purchases from key customers and the timing and amount of distributor and other customer inventory adjustments;
 
 
 
•
Customer demand that differs from our forecasts;
 
 
 
•
The financial impact of inadequate or excess TI inventory that results from demand that differs from projections;
 
 
 
•
The ability of TI and its customers and suppliers to access their bank accounts and lines of credit or otherwise access the capital markets;
 
 
 
•
Impairments of our non-financial assets;
 
 
 
•
Product liability or warranty claims, claims based on epidemic or delivery failure or recalls by TI customers for a product containing a TI part;
 
 
 
•
TI’s ability to recruit and retain skilled personnel; and
 
 
 
•
Timely implementation of new manufacturing technologies, installation of manufacturing equipment and the ability to obtain needed third-party foundry and assembly/test subcontract services.
 

For a more detailed discussion of these factors, see the "Risk Factors" discussion in Item 1A of the Company's most recent Form 10-K.  The forward-looking statements included in this report on Form 8-K are made only as of the date of this report, and the Company undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
         
 
  
TEXAS INSTRUMENTS INCORPORATED
     
Date: April 15, 2010
  
By:
  
/s/ Joseph F. Hubach
 
  
  
  
Joseph F. Hubach
 
  
  
  
Senior Vice President, Secretary and General Counsel