8-K - SiTime Corporation | StockGist

AI Analysis

AI-generated analysis. Always verify with the original filing.

SiTime Corporation entered into a lease agreement on March 23, 2026, with 3250 Jay Street Owner LLC for approximately 149,300 square feet in two Santa Clara buildings to serve as its new corporate headquarters starting April 1, 2027. The 156-month lease features base rent of $313,530 monthly for the first 12 months (abated for the first six months), escalating to $477,760 monthly for months 13-24 and 3% annually thereafter, plus landlord allowances up to $17.35 million.

Key Takeaways

1Entered lease on March 23, 2026, with 3250 Jay Street Owner LLC

2Leasing 149,300 square feet at 3250 Jay Street and 3260 Jay Street, Santa Clara, CA 95054

3156-month term from April 1, 2027, with two 60-month extension options

4Base rent months 1-12: $3,762,360 annual ($313,530 monthly, abated first 6 months)

5Base rent months 13-24: $5,733,120 annual ($477,760 monthly)

6Escalation of approximately 3% annually from month 25

7Landlord allowances: $16,049,750 for buildout + $1,300,000 for power upgrades

Current Report Details

Event Type

Material Agreement

Financing

Disclosure

Mandatory

Variant

8-K

Items Reported

1.01

. Entry into a Material Definitive Agreement. On March 23, 2026, SiTime Corporation (the "Company") entered into a lease agreement (the "Lease") with 3250 Jay S

Material Agreement

$3.8M$313.5K$5.7M$477.8K

2.03

Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 above

Financing

Transaction Details

Material Agreement

Agreement: Lease
Parties: SiTime Corporation, 3250 Jay Street Owner LLC

•Lease of approximately 149,300 square feet of space in two adjacent buildings located at 3250 Jay Street, Santa Clara, California, 95054 and 3260 Jay Street, Santa Clara, California 95054
•Buildings to serve as new corporate headquarters, expected occupancy by April 1, 2027 (Lease Commencement Date)
•Lease Term of 156 months commencing on Lease Commencement Date
•Option to extend for up to two consecutive 60-month terms
•Base rent months 1-12: $3,762,360 annual / $313,530 monthly (abated for first six full calendar months per Section 3.2)
•Base rent months 13-24: $5,733,120 annual / $477,760 monthly
•Base rent escalates by approximately 3% annually from month 25
•Landlord provides allowance up to $16,049,750 for initial buildout and $1,300,000 for power upgrades, reflected in base rent
•Company pays share of operating expenses, taxes, and other expenses

Exhibits (1)

8-K