On March 17, 2022, Steven J. Sharp, a director of Power Integrations, Inc. (the “Company”) notified the Company of his decision to retire from service on the Company's Board of Directors following the completion of his current term. Consequently, Mr. Sharp will not stand for re-election to the Board of Directors at the 2022 Annual Meeting of Stockholders, which is currently anticipated to be held on May 20, 2022. Mr. Sharp has served as a director of the Company since 1988 and served as Chairman of the Board from May 2006 to April 2011.