Microchip Technology stockholders approved an amendment to the 2004 Equity Incentive Plan, increasing authorized shares by 12,000,000. The company also elected seven directors—Ellen L. Barker, Rick Cassidy, Matthew W. Chapman, Mitch Little, Victor Peng, Karen M. Rapp, and Steve Sanghi—to serve until the next annual meeting. Additionally, shareholders ratified Ernst & Young LLP as the independent auditor and approved executive compensation on an advisory basis. Microchip Technology Inc. operates in the semiconductor industry, designing and manufacturing microcontroller, mixed-signal, analog, and Flash-IP integrated circuits.