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      Form 8-K 041907
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      AND EXCHANGE COMMISSION</strong></font></div>
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      8-K</strong></font></div>
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      REPORT PURSUANT TO SECTION&#160;13 OR 15(d) OF</strong></font></div>
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      SECURITIES EXCHANGE ACT OF 1934</strong></font></div>
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      of
      Report (Date of earliest event reported)</font></div>
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      15, 2007</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><img src="mich4c.jpg" alt=""></div>
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                TECHNOLOGY INCORPORATED</strong></font></div>
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                Name Of Registrant As Specified In Its
                Charter)</font></div>
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                Or Other Jurisdiction Of Incorporation)</font></div>
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                File No.)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                Employer Identification No.)</font></div>
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                West Chandler Boulevard, Chandler, Arizona
                85224-6199</strong></font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
                Of Principal Executive Offices</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">)</font></div>
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                792-7200</strong></font></div>
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                Telephone Number, Including Area
                Code)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
                the appropriate box below if the Form 8-K filing is intended to
                simultaneously satisfy the filing obligation of the registrant under
                any
                of the following provisions:</font></div>
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                Written communications pursuant to Rule 425 under the Securities
                Act (17
                CFR 230.425)</font></div>
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                Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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                Pre-commencement communications pursuant to Rule 14d-2(b) under the
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                Pre-commencement communications pursuant to Rule 13e-4(c) under the
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 491.1pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 491.1pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item
      5.02 Departure of Directors or Certain Officers; Election of Directors;
      Appointment of Certain Officers; Compensatory Arrangements of Certain
      Officers</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Executive
      Management Incentive Compensation Plan</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
      2006,
      the&#160;Board of Directors and stockholders of Microchip Technology
      Incorporated (the &#8220;Company&#8221;) approved the Executive Management Incentive
      Compensation Plan (the &#8220;Executive Plan&#8221;).&#160; The Executive Plan&#160;provides
      for the payment of cash bonuses to the Company&#8217;s executive officers based upon
      the objectives set by the Compensation Committee of the Company&#8217;s Board of
      Directors after receipt of recommendations from the Company&#8217;s CEO. At the end of
      each fiscal quarter, the Compensation Committee will determine whether the
      objectives were met and determine the amount of payout to each participant.
      The
      CEO may make recommendations regarding awards to be made, other than those
      for
      himself. The purpose of the Executive Plan is to motivate the Company&#8217;s
      executive officers to achieve performance objectives and to reward them when
      those objectives are satisfied. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      performance objectives for each fiscal quarter for fiscal 2008 are based upon
      the following areas: quarterly sequential sales growth (overall and in the
      Company&#8217;s 16-bit and analog product divisions), gross margin percentage,
      operating expense percentage, operating profit percentage and earnings per
      share. The quarterly payments in fiscal 2008 for the Company&#8217;s CEO and the four
      other mostly highly paid executive officers participating in the Executive
      Plan
      are targeted at an aggregate of approximately&#160;$305,000 for all such
      officers. Because the amount of cash bonuses are dependent upon satisfaction
      of
      the performance objectives, the exact amount of the payout (if any) to an
      executive officer under the program cannot be determined at this time. Actual
      bonuses may be higher or lower than the targets depending upon the level of
      performance achieved by the Company. The maximum payment that any participant
      may receive under the Executive Plan in any Company fiscal year is
      $2,500,000.</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
      copy of
      the Executive Plan&#160;was filed as an exhibit to the Company's&#160;current
      report on Form 8-K dated August&#160;18, 2006</font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>SIGNATURES</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 36pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Dated:
                April 19, 2007</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Microchip
                Technology Incorporated</font></div>
              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant)</font></div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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[{"type": "8-K", "sequence": "1", "filename": "form8-k.htm", "description": "FORM 8-K 041907", "secsgml_size_bytes": 25702}]
{"company-data": {"conformed-name": "MICROCHIP TECHNOLOGY INC", "cik": "0000827054", "assigned-sic": "3674", "irs-number": "860629024", "state-of-incorporation": "DE", "fiscal-year-end": "0331"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-21184", "film-number": "07775489"}, "business-address": {"street1": "2355 W CHANDLER BLVD", "city": "CHANDLER", "state": "AZ", "zip": "85224-6199", "phone": "4807867200"}, "mail-address": {"street1": "2355 WEST CHANDLER BLVD", "city": "CHANDLER", "state": "AZ", "zip": "85224-6199"}}
Form 8-K 041907
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, 2007
MICROCHIP
                TECHNOLOGY INCORPORATED
(Exact
                Name Of Registrant As Specified In Its
                Charter)
Delaware
0-21184
86-0629024
(State
                Or Other Jurisdiction Of Incorporation)
(Commission
                File No.)
(IRS
                Employer Identification No.)
2355
                West Chandler Boulevard, Chandler, Arizona
                85224-6199
(Address
                Of Principal Executive Offices
)
(480)
                792-7200
(Registrant's
                Telephone Number, Including Area
                Code)
Check
                the appropriate box below if the Form 8-K filing 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
      5.02 Departure of Directors or Certain Officers; Election of Directors;
      Appointment of Certain Officers; Compensatory Arrangements of Certain
      Officers
Executive
      Management Incentive Compensation Plan
In
      2006,
      the Board of Directors and stockholders of Microchip Technology
      Incorporated (the "Company") approved the Executive Management Incentive
      Compensation Plan (the "Executive Plan").  The Executive Plan provides
      for the payment of cash bonuses to the Company's executive officers based upon
      the objectives set by the Compensation Committee of the Company's Board of
      Directors after receipt of recommendations from the Company's CEO. At the end of
      each fiscal quarter, the Compensation Committee will determine whether the
      objectives were met and determine the amount of payout to each participant.
      The
      CEO may make recommendations regarding awards to be made, other than those
      for
      himself. The purpose of the Executive Plan is to motivate the Company's
      executive officers to achieve performance objectives and to reward them when
      those objectives are satisfied.
The
      performance objectives for each fiscal quarter for fiscal 2008 are based upon
      the following areas: quarterly sequential sales growth (overall and in the
      Company's 16-bit and analog product divisions), gross margin percentage,
      operating expense percentage, operating profit percentage and earnings per
      share. The quarterly payments in fiscal 2008 for the Company's CEO and the four
      other mostly highly paid executive officers participating in the Executive
      Plan
      are targeted at an aggregate of approximately $305,000 for all such
      officers. Because the amount of cash bonuses are dependent upon satisfaction
      of
      the performance objectives, the exact amount of the payout (if any) to an
      executive officer under the program cannot be determined at this time. Actual
      bonuses may be higher or lower than the targets depending upon the level of
      performance achieved by the Company. The maximum payment that any participant
      may receive under the Executive Plan in any Company fiscal year is
      $2,500,000.
A
      copy of
      the Executive Plan was filed as an exhibit to the Company's current
      report on Form 8-K dated August 18, 2006
-2-
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.
Dated:
                April 19, 2007
Microchip
                Technology Incorporated
(Registrant)
By:
/s/
                Gordon W. Parnell
Gordon
                W. Parnell
Vice
                President, Chief Financial Officer
(Principal
                Accounting and Financial Officer)
-3-