SiTime Corporation Enters into Lease Agreement for New Corporate Headquarters

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The lease will serve as the Company's new corporate headquarters, with an expected commencement date of April 1, 2027. The lease term is 156 months, commencing on the Lease Commencement Date, with options to extend for up to two consecutive terms of 60 months each. The base rent obligations escalate by approximately 3% annually from the 25th month of the Lease Term. The Company will also be responsible for its share of operating expenses, taxes, and other expenses under the lease. The Landlord will provide allowances towards the initial buildout and power upgrades, which are reflected in the base rent.

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About SiTime Corporation

SiTime Corporation, a technology enterprise, is renowned for its pioneering work in the design and manufacture of silicon-based timing devices. These devices are crucial in electronic systems, where they function by providing stable and precise clock signals necessary for synchronous operation. Through its innovative MEMS (Micro-Electro-Mechanical Systems) technology, SiTime delivers timing solutions that offer significant advantages over traditional quartz-based products, including higher reliability, smaller size, and greater robustness against environmental challenges such as temperature and shock. The company's products are integral to a broad spectrum of applications across various sectors, including consumer electronics, automotive, industrial equipment, and communications. SiTime's solutions enable the seamless performance of devices from smartphones to advanced automotive systems. This positioning underscores its significant role in enhancing the functionality and reliability of modern electronic systems. By spearheading the transition from quartz to silicon-based timing technologies, SiTime is pivotal in driving advancements in timing reliability and performance within the global electronics industry.