Allegro Microsystems Inc. (Name of Registrant As Specified in Its Charter)

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Allegro Microsystems Inc. (Name of Registrant As Specified in Its Charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box: ☐ Preliminary Proxy Statement ☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) ☒ Definitive Proxy Statement ☐ Definitive Additional Materials ☐ Soliciting Material under §240.14a-12 Allegro MicroSystems Inc. (Name of Registrant as Specified in its Charter) (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): ☒ No fee required. ☐ Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. (1) Title of each class of securities to which transaction applies: (2) Aggregate number of securities to which transaction applies: (3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): (4) Proposed maximum aggregate value of transaction: (5) Total fee paid: ☐ Fee paid previously with preliminary materials. ☐ Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing: (1) Amount previously paid: (2) Form, Schedule or Registration Statement No.: (3) Filing Party: (4) Date Filed: LETTER TO THE STOCKHOLDERS Manchester, NH July 1, 2021 Dear Stockholder, You are cordially invited to attend the 2021 Annual Meeting of Stockholders (the “Annual Meeting”) of Allegro MicroSystems, Inc. at 8:30 a.m. EDT on Thursday, August 5, 2021. In light of the continued public health impact of the COVID-19 pandemic and to support the health and well-being of our stakeholders, the Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. Holders of record of the Company’s outstanding shares of common stock, as of the close of business on June 9, 2021 are entitled to notice of and to vote at the Annual Meeting, or any continuation, postponement or adjournment of the Annual Meeting. The Annual Meeting may be continued or adjourned from time to time without notice other than by announcement at the Annual Meeting. Every stockholder vote is important. Whether or not you attend the Annual Meeting online, it is important that your shares of common stock be represented and voted at the Annual Meeting. Therefore, I urge you to promptly vote and submit your proxy by phone, via the Internet, or by signing, dating and returning the enclosed proxy card. Instructions regarding how you can vote are contained on the proxy card. If you decide to attend the Annual Meeting, you will be able to vote online, even if you have previously submitted your proxy. Thank you for your support. Sincerely, Yoshihiro (Zen) Suzuki Chairman of the Board of Directors INNOVATION WITH PURPOSE ALLEGRO MICROSYSTEMS, INC. NOTICE OF 2021 ANNUAL MEETING OF STOCKHOLDERS Date and Time Location Who Can Vote August 5, 2021 Online at: Stockholders as of June (Thursday) 8:30 a.m. meetings.computershare.com/MX5ZJPF 9, 2021 are eligible to EDT vote. Time 8:30 a.m., EDT on Thursday, August 5, 2021 Place Virtually at meetings.computershare.com/MX5ZJPF. In order to attend, if you hold your shares through an intermediary, such as a bank or broker, you must register in advance prior to the deadline of 5:00 p.m. EDT on August 2, 2021. Please refer to the accompanying proxy statement for information on how to register. The password for the meeting, if requested, is ALGM2021. There is no physical location for the Annual Meeting. Items of Business 1. To elect Noriharu Fujita, Reza Kazerounian, Joseph Martin and Ravi Vig as Class I Directors to serve until the 2024 Annual Meeting of Stockholders, and until each such director’s respective successor is elected and qualified; 2. To ratify the appointment of Grant Thornton LLP as the Company’s independent registered public accounting firm for the fiscal year ending March 25, 2022; and 3. To transact such other business as may properly come before the Annual Meeting or any continuation, postponement, or adjournment of the Annual Meeting. Voting Whether or not you attend the Annual Meeting online, it is important that your shares of common stock be represented and voted at the Annual Meeting. Please refer to the accompanying proxy statement for information on how to vote prior to the Annual Meeting. The enclosed proxy card contains voting instructions. If you decide to attend the Annual Meeting, you will be able to vote online, even if you have previously voted. Who Can Vote Only stockholders of record at the close of business on June 9, 2021 are entitled to notice of and to vote at the Annual Meeting. A list of stockholders entitled to vote at the Annual Meeting will be available for inspection at our executive offices. INNOVATION WITH PURPOSE TABLE OF CONTENTS PROXY STATEMENT SUMMARY 1 FISCAL YEAR 2021 BUSINESS HIGHLIGHTS 3 CORPORATE RESPONSIBILITY AND SUSTAINABILITY HIGHLIGHTS 4 QUESTIONS AND ANSWERS ABOUT THE 2021 ANNUAL MEETING OF STOCKHOLDERS 7 PROPOSALS TO BE VOTED ON 11 REPORT OF THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS 24 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FEES AND OTHER MATTERS 25 EXECUTIVE OFFICERS 26 CORPORATE GOVERNANCE 28 COMMITTEES OF THE BOARD 33 EXECUTIVE AND DIRECTOR COMPENSATION 36 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 44 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 46 STOCKHOLDERS’ PROPOSALS 51 OTHER MATTERS 51 SOLICITATION OF PROXIES 51 ANNUAL REPORT ON FORM 10-K 52 INNOVATION WITH PURPOSE PROXY STATEMENT This proxy statement is furnished in connection with the solicitation by the Board of Directors (the “Board”) of Allegro MicroSystems, Inc. (“we,” “us,” “our,” the “Company” or “Allegro”) of proxies to be voted at our Annual Meeting of Stockholders to be held on Thursday, August 5, 2021 (the “Annual Meeting”), at 8:30 a.m. EDT, and at any continuation, postponement, or adjournment of the Annual Meeting. In light of the COVID-19 pandemic, the Annual Meeting will be a completely virtual meeting, which will be conducted via live webcast. You will be able to attend and participate in the Annual Meeting online, vote your shares electronically and submit your questions during the Annual Meeting by visiting: meetings.computershare.com/MX5ZJPF at the meeting date and time. In order to attend, if you hold your shares through an intermediary, such as a bank or broker, you must register in advance prior to the deadline of 5:00 p.m. EDT on August 2, 2021. Please refer to “How can I attend the Annual Meeting?” for information on how to register. The password for the meeting, if requested, is ALGM2021. There is no physical location for the Annual Meeting. Holders of record of outstanding shares of common stock, $0.01 par value per share, as of the close of business on June 9, 2021 (the “Record Date”), will be entitled to notice of and to vote at the Annual Meeting and any continuation, postponement, or adjournment of the Annual Meeting, and will vote as a single class on all matters presented at the Annual Meeting. As of the Record Date, there were 189,589,991 shares of common stock outstanding and entitled to vote at the Annual Meeting. Each share of common stock is entitled to one vote on any matter presented to stockholders at the Annual Meeting. This proxy statement and the Company’s Annual Report to Stockholders for the fiscal year ended March 26, 2021 (the “2021 Annual Report”) will be released on or about July 1, 2021 to our stockholders on the Record Date. IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE STOCKHOLDER MEETING TO BE HELD ON AUGUST 5, 2021 This Proxy Statement and our 2021 Annual Report to Stockholders are available at investors.allegromicro.com/financials/annual-reports. Proposals At the Annual Meeting, our stockholders will be asked: Board Vote For Further Proposals Recommendation Details To elect Noriharu Fujita,Reza Kazerounian, Joseph Martin and Ravi Vig as Class I Directors to serve “FOR” each director Page 11 until the 2024 Annual Meeting of Stockholders, and until each such director’s respective successor is nominee elected and qualified To ratify the appointment of Grant Thornton LLP as our independent registered public accounting firm “FOR” Page 23 for the fiscal year ending March 25, 2022 To transact such other business as may properly come before the Annual Meeting or any continuation, postponement, or adjournment of the Annual Meeting. We know of no other business that will be presented at the Annual Meeting. If any other matter properly comes before the stockholders for a vote at the Annual Meeting, however, the proxy holders named on the Company’s proxy card will vote your shares in accordance with their best judgment. Recommendations of the Board The Board recommends that you vote your shares as indicated below. If you return a properly completed proxy card, or vote your shares by telephone or Internet, your shares of common stock will be voted on your behalf as you direct. If not otherwise specified, the shares of common stock represented by the proxies will be voted, and the Board recommends that you vote: a. FOR the election of each of Noriharu Fujita, Reza Kazerounian, Joseph Martin and Ravi Vig as Class I Directors; and b.
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