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UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549SCHEDULE 14A (Rule 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENTSCHEDULE 14A INFORMATION

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☒ Definitive proxy statement☐ Definitive additional materials☐ Soliciting material pursuant to § 240.14a-12

VISHAY INTERTECHNOLOGY, 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):

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VISHAY INTERTECHNOLOGY, INC.63 LANCASTER AVENUE

MALVERN, PENNSYLVANIA 19355

March25,2020DearStockholder:

Youarecordiallyinvitedtoattendthe2020AnnualMeetingofStockholdersofVishayIntertechnology,Inc.,tobeheldat9:30a.m.,localtime,onTuesday,May19,2020,atVishayIntertechnology,Inc.WorldHeadquarters,63LancasterAve.,Malvern,PA19355.TheBoardofDirectorslooksforwardtogreetingyoupersonallyattheannualmeeting.

Duringtheannualmeeting,wewilldiscusseachitemofbusinessdescribedintheattachedNoticeofAnnualMeetingofStockholdersandproxystatementandprovideareportonVishay'sbusinessoperations.Wewillprovidetimeforquestions.

OnbehalfoftheBoardofDirectors,IwouldliketoexpressourappreciationforyourcontinuedinterestintheaffairsofVishay.Wehopeyouwillbeabletoattendtheannualmeeting.Whetherornotyouexpecttoattendtheannualmeeting,andregardlessofthenumberofsharesyouown,itisimportantthatyoursharesarerepresentedandvotedattheannualmeeting.Therefore,youareencouragedtosign,date,andreturntheenclosedproxycardinthereturnenvelopeprovided,orfollowtheinstructionstovoteonline,sothatyourshareswillberepresentedandvotedattheannualmeeting.

Sincerely,

MarcZandman Executive Chairman of the Board of Directors

ImportantNoticeRegardingtheAvailabilityofProxyMaterialsfortheAnnualMeetingofStockholderstobeHeldMay19,2020.Thefollowingmaterials,alsoincludedwiththisNotice,areavailableforviewingontheInternet:ProxyStatementforthe2020AnnualMeetingofStockholders

2019AnnualReporttoStockholdersToviewthesematerials,visitir.vishay.com.

VISHAY INTERTECHNOLOGY, INC. NOTICE OF 2020 ANNUAL MEETING OF STOCKHOLDERS TUESDAY, MAY 19, 2020Vishay Intertechnology, Inc. World Headquarters63 Lancaster Avenue, Malvern, PA 19355ITEMS OF BUSINESS:1.theelectionofthreedirectorstoholdofficeuntil2023andonedirectortoholdofficeuntil2021;2.theratificationofourindependentregisteredpublicaccountingfirm;3.theadvisoryvoteonexecutivecompensation;4.suchotherbusinessasmaybebroughtproperlybeforethemeeting.ADJOURNMENTS AND POSTPONEMENTS:AnyactionontheitemsofbusinessdescribedabovemaybeconsideredattheAnnualMeetingatthetimeandonthedatespecifiedaboveoratanytimeanddatetowhichtheAnnualMeetingmaybeproperlyadjournedorpostponed.

RECORD DATE:ThestockholdersofrecordatthecloseofbusinessonMarch23,2020willbeentitledtovoteattheAnnualMeetingoratanyadjournmentthereof.VOTING:Whetherornotyouexpecttoattendthemeetinginperson,pleasecomplete,date,andsigntheenclosedproxycardandreturnitwithoutdelayintheenclosedenvelopewhichrequiresnoadditionalpostageifmailedintheUnitedStates.IfyouareenrolledinourelectronicproxymaterialsdeliveryserviceandreceivedtheseproxymaterialsviatheInternet,youwillneedtofollowtheproceduresforonlinevotingtovoteyourshares.

ByOrderoftheBoardofDirectors,

PeterHenrici Corporate Secretary

Malvern,PennsylvaniaMarch25,2020

As part of our precautions regarding the coronavirus or

COVID-19, we are planning for the possibility that theannual meeting may be held solely by means of remotecommunication. If we take this step, we will announce

the decision to do so in advance, and details on how toparticipate will be available at Vishay.com.

This page left intentionally blank.

TABLE OF CONTENTSSECTION Summary 1

MeetingInformation 1VotingMatters 1

DirectorNominees 1 RatificationofAppointmentofIndependentRegisteredPublicAccountingFirm 2 ExecutiveCompensationAdvisoryVoteandItsFrequency 2 CorporateGovernanceBestPractices 3Directors 4 ClassIIDirectors-NomineesforTermsExpiring2023 5 ClassIIIDirector-NomineeforTermExpiring2021 6 ClassIIIDirectors-TermsExpiring2021 6 ClassIDirectors-TermsExpiring2022 7 OtherInformationConcerningDirectors 7Director Compensation 8 Director Stock Ownership Guidelines 9Governance of the Company 10 Whatiscorporategovernance? 10 WherecanIfindmoreinformationaboutthecorporategovernancepracticesofVishay? 10 WhatisthecompositionofourBoardofDirectors? 11 HowdoestheBoarddeterminewhichdirectorsareconsideredindependent? 11 HowoftendidtheBoardmeetingduring2019? 11 WhatistheroleoftheBoard'sCommitteesandwhatistheircomposition? 12 WhatistheBoard'sleadershipstructure? 13 WhatistheBoard'sroleinriskoversight? 14 HowdoestheBoardselectnomineesfortheBoard? 14 Whatqualificationsmustadirectorhave? 15 CanIrecommendanomineefordirector? 15 HowdostockholdersandotherscommunicatewiththeBoard? 16 Proposal One – Election of Directors 17 Report of the Audit Committee 18 Proposal Two – Ratification of Appointment of Independent Registered Public Accounting Firm 20 Security Ownership of Certain Beneficial Owners and Management 21 Section16(a)DelinquentReports 23 CompensationCommitteeInterlocksandInsiderParticipation 23 RestrictionsonHedgingandPledging 23 Executive Compensation 24 InformationConcerningExecutiveOfficers 24 CompensationDiscussionandAnalysis 26 EvaluationofAchievementsforCashPerformance-BasedIncentiveCompensation 36

OtherConsiderationsRegardingExecutiveCompensation 42 Report of the Compensation Committee 44

TABLE OF CONTENTSSECTION Compensation Tables 45 SummaryCompensationTable 45 2019GrantsofPlanBasedAwards 48 OutstandingEquityAwardsatFiscalYearEnd 49 2019StockVested 50 PensionandRetirementBenefits 50 2019PensionandRetirementBenefitsTable 51 Non-qualifiedDeferredCompensation 51 2019Non-qualifiedDeferredCompensationTable 52 PotentialPaymentsUponTerminationoraChangeinControl 52 MedianPayRatio 56 2020ExecutiveCompensation 56 AdditionalInformationonEquityCompensationPlans 58 Proposal Three – Advisory Vote on Executive Compensation 59 Certain Relationships and Related Transactions 60 About the Meeting 62 WhydidIreceivethesematerials? 62 Whatisaproxy? 62 Whatistherecorddateandwhyisitimportant? 62 Whatisthedifferencebetween"StockholdersofRecord"and"BeneficialOwners"? 62 Whocanattendthemeeting? 62 WhatproposalswillIbevotingonandhowdoestheBoardofDirectorsrecommendIvote? 62 DoesVishayhavemorethanoneclassofstockoutstanding? 62 Whatarethevotingrightsofeachclassofstock? 63 Whatconstitutesaquorum? 63 Howareabstentionsandbrokernon-votesconsidered? 63 Whatvoteisrequiredtoapproveeachproposal? 63 Whopaidtosendmetheproxymaterials? 64 HowdoIvotemyshares?CanIvoteelectronically? 64 CanIchangemyvoteafterIreturnmyproxycard? 65 WhatwillhappenifIprovidemyproxybutdonotvoteonaproposal? 65 WhatwillhappenifIdonotprovidemyproxy? 65 Whowillverifytheelectionresults? 65 Arethereanystockholderswhoownmorethan5%ofVishay'ssharesorvotingpower? 65 Other Matters 66 AvailabilityofAnnualReportandForm10-KtoStockholders 66

StockholderProposalsfor2021AnnualMeeting 66

2020 Proxy Statement | Summary Table of Contents

SummaryThissummaryhighlightsinformationcontainedelsewhereinthisproxystatement.Thissummarydoesnotcontainalloftheinformationthatyoushouldconsider,andyoushouldreadtheentireproxystatementcarefullybeforevoting.Meeting Information

Date andTime

MeetingLocation

Record Date

Voting

Tuesday,May19,2020at9:30a.m.

VishayIntertechnologyInc.WorldHeadquarters63LancasterAve.Malvern,PA19355

March23,2020

Each share of common stock will be entitledto one vote and each share of Class Bcommonstockwill beentitledto10voteswithrespect to each matter to be voted on at theannualmeeting.

Voting MattersPROPOSAL

BOARDRECOMMENDATION PAGE REFERENCE

①①Theelectionofthreedirectorstoholdofficeuntil2023andonedirectortoholdofficeuntil2021 FORALL 17

②② Theratificationofourindependentregisteredpublicaccountingfirm FOR 20

③③ Theadvisoryvoteonexecutivecompensation FOR 59

Director Nominees

NAME AGEDIRECTOR

SINCE TERM EXPIRING OCCUPATION QUALIFICATIONS INDEPENDENT

COMMITTEE OFTHE BOARD

E A NCG CC

MichaelJ.Cody 70 2018 2023RetiredVP-BusinessDevelopment,RaytheonCompany

Leadership,ComplementaryIndustry,Finance,M&A

✓✓ M

Dr.AbrahamLudomirski 68 2003 2023 FounderandManaging

DirectorofVitalifeFund

Leadership,ComplementaryIndustry,Finance,Global

✓✓ C M

RaananZilberman 59 2017 2023 FormerPresidentandCEO,Caesarstone,Ltd.

Leadership,ElectronicsIndustry,Company,Global

✓✓ M

JeffreyH.Vanneste 60 2019 2021 RetiredSVPandCFO,LearCorporation

Leadership,ComplementaryIndustry,Finance

✓✓ M(FE)

E ExecutiveCommitteeA AuditCommitteeNCG NominatingandCorporateGovernanceCommitteeCC CompensationCommitteeC CommitteeChairM CommitteeMember(FE) FinancialExpert

VishayIntertechnology,Inc.|2020 Proxy Statement1


Ratification of Appointment of Independent Registered Public Accounting Firm

TheAuditCommitteeoftheBoardofDirectorshasdeterminedtoreappointthepublicaccountingfirmofErnst&YoungLLPastheindependentregisteredpublicaccountingfirmtoauditourfinancialstatementsfortheyearendingDecember31,2020,aswellastoaudittheeffectivenessofourinternalcontroloverfinancialreporting.AlthoughstockholderapprovalfortheappointmentofErnst&YoungLLPisnotrequired,wearecontinuingourpracticeofsubmittingtheselectionoftheindependentregisteredpublicaccountingfirmtostockholdersfortheirratification.Executive Compensation Advisory Vote

AspartoftheDodd-FrankWallStreetReformandConsumerProtectionActof2010,CongressadoptedSection14AoftheSecuritiesExchangeActof1934,pursuanttowhichtheBoardisgivingourstockholdersanopportunitytoapproveonanadvisory,ornon-binding,basis,thecompensationofourNamedExecutiveOfficers,asdisclosedinthisproxystatement.

TheCompensationCommitteeoftheBoardofDirectorsisresponsibleforestablishingandapprovingthecompensationoftheChiefExecutiveOfficer,andtheotherNamedExecutiveOfficers,andadministeringVishay'sincentivecompensationandequity-basedplans.

Asdiscussedingreaterdetailin"ExecutiveCompensation–CompensationDiscussionandAnalysis,"Vishay'scompensationprogramsaredesignedtosupportourbusinessgoalsandpromotetheshort-andlong-termprofitablegrowthoftheCompany.Thecompensationprogramisstructuredtohelptorecruit,retain,andmotivatekeyemployeeswhocanfunctioneffectivelybothinperiodsofrecessionandeconomicupturn.Thecompensationarrangementsaredesignedtoprovideanincentiveforpositiveperformancewhileavoidingtheencouragementofinappropriaterisk-taking.ThecompensationarrangementsvaryamongourNamedExecutiveOfficers,butgenerallyinclude:

A market-competitivebase salary

Cash incentive compensationaportionofwhichisbasedonCompany-wideachievementsandanotherportionofwhichisbasedonpersonalachievements,withacapto

discourageinappropriaterisk-taking

Equity-based compensationofwhich75%vestsonlyupontheachievement

ofthree-yearperformancemetricsandthebalanceofwhichvestsonJanuary1ofthethird

yearfollowingthegrantdate

Deferred cash compensation andretirement benefits

generallypayableatretirement/terminationofemployment

Deferred equity compensation

intheformofphantomstockunitspayableatretirement/terminationofemploymentforcertainofourNamedExecutiveOfficers

Perquisites and other personalbenefits

Thisproxystatementincludesacomprehensive"SummaryCompensationTable"thatcalculatescompensationearnedbyourNamedExecutiveOfficersinaccordancewithSECrules.SomeofthecompensationreportedintheSummaryCompensationTable,includingcertainequity-basedcompensation,deferredcashcompensation,retirementbenefits,andphantomstockunits,hasnotyetbeenrealizedbytheexecutives,andinthecaseofequity-compensationmeasuredonthegrantdate,mightneverbefullyrealized.TheBoardofDirectorsbelievesthatourexecutivecompensationprogramisappropriatelydesignedtosupporttheCompany'slong-termsuccessbyachievingthefollowingobjectives:attractingandretainingtalentedseniorexecutives,tyingexecutivepaytoCompanyandindividualperformance,supportingourannualandlong-termbusinessstrategies,andaligningexecutives'interestswiththoseofthestockholders.Accordingly,theBoardofDirectorsrecommendsthatyouvoteFORapprovalofthecompensationofourNamedExecutiveOfficers(seeProposalThree).



Corporate Governance Best PracticesVishayunderstandsthatcorporategovernancepracticeschangeandareconstantlyevolving.Wecurrentlyemploythefollowingcorporategovernancebestpractices:

BoardGovernance • SeparateExecutiveChairmanoftheBoardandChiefExecutiveOfficer; • Alldirectorsattendatleast75%ofallmeetingsonanannualbasis; • Significantstockownershipguidelinesfordirectors, equaltofivetimesthevalueof their annualcashretainer(subjecttoafiveyearphase-in);

• Annualself-evaluationsofBoardasawhole; • Norestrictionsondirectors'accesstomanagementoremployees;and • BoardoverseestheCompany'sstrategicprioritiesandriskmanagement.

CommitteeGovernance

• AuditCommitteecomposedentirelyofindependentdirectors; • CompensationCommitteecomposedentirelyofindependentdirectors;and • NominatingandCorporateGovernanceCommitteecomposedentirelyofindependentdirectors.

ResponsibleCompensationandPlanning • Caponbonuses; • NominatingandCorporateGovernanceCommitteehasprimaryresponsibilityforChiefExecutiveOfficerandkeyexecutivesuccessionplanning;

• SuccessionandexecutivedevelopmentarediscussedwiththeChiefExecutiveOfficer,aswellaswithouttheChiefExecutiveOfficerpresentinexecutivesessions;

• FormalpolicyprohibitingdirectorsandofficersfromhedgingorpledgingofCompanyStock;and • Formalclawbackpolicyforincentive-basedcashandequityawardsintheeventofanaccountingrestatement.

IndependentExperience • Highly-experienceddirectorsinawiderangeofindustries; • AlldirectorspossessasignificantlevelofknowledgeregardingVishayandourindustry; • Allofourcurrentdirectorsreceivedamajorityofthevotescastbyholdersofcommonstockwhoare unaffiliated with the current Class B stockholders when they last stood for election at anannual meeting of stockholders, other than Mr. Vanneste, who has not previously stood forelection;

• Independent directors meet in regularly scheduled executive sessions; and when required, inspecialexecutivesessions;

• Onlyfourdirectorsservingontheboardsofotherpubliccompanies;and • Nodirectorservingonmorethanoneotherpubliccompanyboard.

AuditIntegrity • Auditorisindependent; • Non-auditfeesarereasonablerelativetoauditandaudit-relatedfees;and • Leadaudit partner must berotatedafter five years, whichprovidestheCompanythebenefit ofnewthinkingandapproaches.


2020 Proxy Statement | Directors Table of Contents

DIRECTORS

ThefollowingtablesummarizesthecurrentdirectorsasofMarch23,2020:

COMMITTEE OFTHE BOARD

NAME AGE

DIRECTORSINCE

CLASS /TERM

EXPIRING OCCUPATION

QUALIFICATIONS

INDEPENDENT

E A NCG CC

Michael J.Cody 70 2018 II / 2023* Retired VP - Corporate

Development, Raytheon Company Leadership,ComplementaryIndustry, Finance,M&A

✓✓ M

Dr. AbrahamLudomirski 68 2003 II / 2023* Founder and Managing Director of

Vitalife Fund Leadership,ComplementaryIndustry, Finance,Global

✓✓ C M

RaananZilberman 59 2017 II / 2023* Former President and CEO,

Caesarstone, Ltd. Leadership,ElectronicsIndustry,Company, Global

✓✓ M

Jeffrey H.Vanneste 60 2019 III / 2021* Retired SVP and CFO, Lear

Corporation Leadership,ComplementaryIndustry, Finance

✓✓ M(FE)

RonaldRuzic** 81 2009 II/2020** RetiredGroupPresident,BorgWarnerAutomotive,Inc.

Leadership,ComplimentaryIndustry,Global

✓ M M

MarcZandman 58 2001 III/2021 ExecutiveChairmanoftheBoard,ChiefBusinessDevelopmentOfficer,VishayIntertechnology,Inc.

Leadership,ElectronicsIndustry,Company,Global

C

RutaZandman 82 2001 III/2021 PrivateStockholder Leadership,ElectronicsIndustry,Company,Global

ZivShoshani 53 2001 III/2021 PresidentandCEO,VishayPrecisionGroup,Inc. Leadership,ElectronicsIndustry,Company,Global

Dr.GeraldPaul 71 1993 I/2022 PresidentandCEO,VishayIntertechnology,Inc. Leadership,ElectronicsIndustry,Company,Global

M

TimothyV.Talbert 73 2013 I/2022

RetiredSr.VPCreditandOriginations,LeaseCorporationofAmerica("LCA");RetiredPresident,LCABankCorporation

Leadership,Finance,Compliance

✓ C

ThomasC.Wertheimer 79 2004 I/2022

AccountingConsultant,previouslypartnerofPriceWaterhouseCoopersLLP

Leadership,Finance,Compliance

✓ C(FE) M

*: Nomineesforelectionat2020annualmeeting**: Mr.Ruzicisnotseekingre-electionE: ExecutiveCommitteeA: AuditCommittee

NCG: NominatingandCorporateGovernanceCommitteeCC: CompensationCommitteeC: CommitteeChairM: CommitteeMember

(FE): FinancialExpert

WhileholdersofourcommonstockandClassBcommonstockvotetogetherasasingleclassonmostmatters,includingtheelectionofdirectors,allofourcurrentdirectorsreceivedamajorityofthevotescastbyholdersofcommonstockwhoareunaffiliatedwiththecurrentClassBstockholderswhentheylaststoodforelectionatanannualmeeting

ofstockholders,otherthanMr.Vanneste,whohasnotpreviouslystoodforelection.



Class II Directors – Nominees for Terms Expiring 2023

Michael J. Cody was, from 2009 until his retirement in 2017, Vice President of CorporateDevelopment at Raytheon Company, a technology company specializing in defense, civilgovernment and cybersecurity solutions. At Raytheon, Mr. Cody was responsible foroverseeingallmergerandacquisitionactivity,whereheexecuted18transactionsaggregatingin excess of $4.3 billion in transaction value. From 2007-2009, Mr. Cody was a foundingpartner of MeadowoodCapital LLC, a private equity firmfocusedontechnologycompanies.From 1997 to 2007, Mr. Cody was Vice President of Corporate Development at EMCCorporation,adeveloperandproviderofinformationinfrastructuretechnology.Mr.CodyhaspreviouslyservedontheboardsofSafeguardScientific,Inc.,aNYSElistedprivateequityandventurecapitalfirm;andMTILtd.,aprivatecompanyintheUKspecializingincloud,security,and infrastructure. Mr. Cody brings to the Board extensive knowledge and experience withmergers and acquisitions as well as experience with technology and defense businesses.Additionally, Mr. Cody's experience as a director of publicly traded and private companiesallowshimtobringanimportantperspectivetotheBoard.

Dr. Abraham Ludomirski is the founder and, for more than the past five years, managingdirectorofVitalifeFund,aventurecapitalcompanyspecializinginhigh-techelectronicmedicaldevices.HeisalsotheChairmanoftheBoardofPOCAREDDiagnostics,Ltd.,anIsraelihigh-techcompanyspecializinginminiatureelectronicsandopticalandvideosystems,andservesontheboardofdirectorsofSensibleMedicalInnovationsLtd.,TrigMedical,ENDOSPANLtd.,and DIR Technologies. He previously served on the board of Recro Pharma, Inc. Dr.Ludomirski earnedhisM.D.at theSacklerTel-AvivUniversityMedical School, specializinginOBGYN and completed his fellowship at the University of Pennsylvania in maternal fetalmedicine. In addition to his general familiarity with corporate affairs and governance, Dr.Ludomirski's work in the high-tech venture capital and medical fields gives him a valuableperspectiveoninvestmentininnovativetechnologies.

Raanan Zilberman was Chief Executive Officer of Caesarstone Ltd., a NASDAQ-listedmanufacturerofhighqualityengineeredquartzsurfaces,fromFebruary2017toMarch2018.Priortothat,Mr.ZilbermanservedasChiefExecutiveOfficerofEdenSprings,aSwiss-basedleading provider of water and coffee services to European workplaces; Chief ExecutiveOfficer of Danone Springs, a joint venture between Danone and Eden Springs, with aEuropean-wide water production and distribution footprint; Chief Executive Officer of TedeaHuntleigh, a companylisted on the Tel Aviv Stock Exchangeengagedin the production andmarketingofelectromechanicalsensors;andChiefOperatingOfficerofTadiranAppliances,amanufacturerofairconditionersandrefrigerators.TedeaHuntleighwasacquiredbyVishayin2002,andMr.ZilbermanwasPresidentofVishay'stransducersbusinessfrom2002to2004.Mr. Zilberman's previous service as a Chief Executive Officer of publicly traded companieswillallowhimtobringanimportantperspectivetotheBoard.Additionally,hispastexperiencewithVishayprovideshimwithvaluableinsightofourbusinessandoperations.



Class III Director – Nominee for Term Expiring 2021

Jeffrey H. Vannesteserved,from2012untilhisretirementin2019,asSeniorVicePresidentand Chief Financial Officer of Lear Corporation, a global automotive technology leader inseating and electrical and electronic systems.Prior to joining Lear, Mr. Vanneste served asExecutiveVicePresidentandChiefFinancialOfficerforInternationalAutomotiveComponentsGroup ("IAC") from2011 to 2012 and as Chief Financial Officer for IACNorth America from2007 to 2012. Prior to joining IAC, Mr. Vanneste worked with Lear Corporation in financepositionsof increasingresponsibility over morethan15years. Mr. Vannestealsoservesonthe board of TI Fluid Systems, PLC, a leading global manufacturer of fluid storage, carryinganddeliverysystemslistedontheLondonStockExchange,whereheischairmanoftheAuditand Risk Committee. Our Board has determined that Mr. Vanneste qualifies as an AuditCommittee financial expert under the rules of the SEC. Mr. Vanneste’s experience as theChiefFinancialOfficerofamultinational,publicly-tradedcompanyandasaboardmemberofanotherpublicly-tradedcompanyallowshimtobringanimportantperspectivetotheBoardandtheAuditCommittee.

Class III Directors – Terms Expiring 2021

Marc Zandmanis Executive Chairman of the Board of Directors, the Chief BusinessDevelopmentOfficer,andPresidentofVishayIsraelLtd.Mr.ZandmanhasbeenPresidentofVishay Israel Ltd. since 1998 and a Director of Vishay since 2001. Mr. Zandman was ViceChairmanoftheBoardfrom2003toJune2011,ChiefAdministrationOfficerfrom2007toJune2011, and Group Vice President of Vishay Measurements Group from 2002 to 2004. Mr.Zandman has served in various other capacities with Vishay since 1984. Mr. Zandman hasserved as the non-executive Chairman of the Board of Directors of Vishay Precision Groupsincethespin-off fromVishayonJuly 6, 2010. Heis thesonof thelate Dr. Felix Zandman,founderandVishay'sformerExecutiveChairman.AsExecutiveChairmanandChiefBusinessDevelopment Officer, Mr. Zandman has a breadth of knowledge concerning the Company'sbusinesses, as well as close familiarity with the Company's Israel operations where theCompanyconductssignificantresearchanddevelopmentandmanufacturingactivities.

Ruta Zandmanis aprivatestockholderandthewifeof thelateDr. Felix Zandman,Vishay'sfounderandformerExecutiveChairman.Mrs.Zandmanhassoleorsharedvotingpoweroverapproximately42.9%oftheCompany'stotalvotingpower,forwhichitisdeemedappropriatethatsheserveasamemberoftheCompany'sBoard.Mrs.ZandmanwasemployedbyVishayasapublicrelationsassociatefrom1993toMay2011,andusuallyaccompaniedDr.ZandmanasarepresentativeofVishay;sheprovidestheBoardwithvaluableinsightintotheCompanyanditshistory,aswellasherunderstandingofDr.Zandman'svisionandtheevolutionofouroperations.

Ziv Shoshani isChiefExecutiveOfficerandPresident,andamemberoftheboardofdirectorsofVishayPrecisionGroup,Inc.,anindependent,publicly-tradedcompanyspunofffromVishayonJuly6,2010.Mr.ShoshaniwasChiefOperatingOfficerofVishayfromJanuary1,2007toNovember1,2009,andhadbeenExecutiveVicePresidentofVishayfrom2000untilthedateof the spin-off, with various areas of responsibility, including Executive Vice President of theCapacitors and the Resistors businesses, as well as heading the Measurements Group andFoilDivisions.Mr.ShoshaniwasemployedbyVishayIntertechnology,Inc.from1995to2010,

andhasbeenamemberoftheVishayIntertechnology,Inc.BoardofDirectorssince2001.Mr.Shoshani's long-standing dedication to our Company, exemplified by his extensivemanagementexperiencewithVishayIntertechnologypriortotheVPGspin-off,aswell ashisexperienceastheCEOofapublicly-tradedcompany,providehimwithvaluableinsightintoourbusinessandoperations, andmakeshimavaluableadvisortotheBoard. Mr. Shoshani is anephewofRutaZandman.



Class I Directors – Terms Expiring 2022

Dr. Gerald Paul wasappointedChiefExecutiveOfficereffectiveJanuary1,2005.Dr.Paulhasserved as a Director of the Company since 1993, and has been President of the Companysince March 1998. Dr. Paul also was Chief Operating Officer from 1996 to 2006. Dr. PaulpreviouslywasanExecutiveVicePresidentoftheCompanyfrom1996to1998,andPresidentof Vishay Electronic Components, Europe from 1994 to 1996. Dr. Paul has been ManagingDirector of Vishay Electronic GmbH, a subsidiary of the Company, since 1991. Dr. Paul hasbeen employed by Vishay and a predecessor company since 1978. Dr. Paul possessesextensive experience with the Company, has senior responsibilities for our overall business,andhasbeeninstrumentalinpromotingourstrategicadvances.Hisin-depthknowledgeofouroperationsincludestheintegrationofacquiredcompaniesandaprovenunderstandingofthechallengesfacingtheCompanyinallaspectsofthebusinesscycle.

Timothy V. Talbert retiredin2018fromhispositionsasSeniorVicePresidentofCredit andOriginationsforLeaseCorporationofAmerica("LCA"),anationalequipmentlessor(sinceJuly2000) and President of the LCA Bank Corporation, a bank that augments LCA's fundingcapacity (since its founding in January 2006). Previously, Mr. Talbert was Senior VicePresidentandDirectorofAssetBasedLendingandEquipmentLeasingofHuntingtonNationalBankfrom1997to2000;andpriortothat,servedinavarietyofpositionswithComericaBankfor more than 25 years. Mr. Talbert previously served on the board of directors and was amember of the audit committee of Siliconix incorporated, a NASDAQ-listed manufacturer ofpower semiconductors of which the Company owned an 80.4%interest, from2001 until theCompany acquired the noncontrolling interests in 2005. Mr. Talbert has also served on theboardofVishayPrecisionGroupsinceitwasspunofffromtheCompanyin2010.Mr.Talbert'spreviousandcurrentserviceasadirectorofpubliclytradedcompaniesallowshimtobringanimportant perspective to the Board. Additionally, Mr. Talbert's service as the president of afederally regulated institution gives him relevant understanding of compliance with complexregulationsandcurrentaccountingruleswhichaddinvaluableexpertisetoourBoard.

Thomas C. Wertheimer is an independent financial andaccounting consultant. Prior to hisretirement in 2000, he was a senior audit partner with the accounting firm ofPricewaterhouseCoopersLLPanditspredecessorCoopers&LybrandLLP.Inthiscapacity,Mr. Wertheimer was responsible for the audits of major U.S. and international publiccompaniesandwasalsoatechnicalconsultingpartnerinthefirm'snationaloffice.From2003until 2007, Mr. Wertheimer was a consultant for the Public Company Accounting OversightBoard. He was also a director of Fiserv, Inc., an information management and serviceprovider,untilMay2017,andwasalsopreviouslyadirectorofXinyuanRealEstateCo.,Ltd.,aresidentialrealestatedeveloperinChina,throughDecember31,2014.Mr.Wertheimerbringsto the Board extensive knowledge and experience in accounting, finance, risk managementandpubliccompanyoversight.

Other Information Concerning DirectorsMr. Ronald Ruzic will retire from the Board effective at the 2020 Annual Meeting of stockholders. The Companyexpresses its gratitude and appreciation for the many years of exemplary service that Mr. Ruzic provided to theCompanyanditsstockholders.


2020 Proxy Statement | Director Compensation Table of Contents

DIRECTOR COMPENSATION

Ournon-employeedirectorsarecompensatedasfollows: • Anannualizedcashretainerof$60,000,paidintwosemi-annualinstallments;

• Anadditional$10,000forserviceoneachoftheCompensationorAuditCommittees;

• Anadditional$5,000forserviceontheNominatingandCorporateGovernanceCommittee;

• Anadditional$15,000fortheAuditCommitteeChairandanadditional$5,000foreachoftheCompensationand

NominatingandCorporateGovernanceCommitteeChairs;and • An annual grant of RSUs on the first stock trading day of the year, determined as a total incentive value of

$165,000dividedbytheclosingstockpriceofthelasttradingdayofthepreviousfiscalyear,vestingin3yearsorratablyuponearliercessationofservice.

Boardmembersdonotreceiveaper-meetingfee.

Ouremployeedirectorsarenotseparatelycompensatedforservicesperformedasdirectors.

The following table provides information with respect to the compensation paid or provided to the Company's non-employeedirectorsduring2019:

NAME

FEES EARNEDAND PAID IN

CASH

STOCK

AWARDS(1)

TOTAL

MichaelJ.Cody(3) $ 68,398 $ 153,464 $ 221,862Dr.AbrahamLudomirski $ 80,000 $ 153,464 $ 233,464FrankDieterMaier(2) $ 37,500 $ 153,464 $ 190,964RonaldRuzic $ 75,000 $ 153,464 $ 228,464ZivShoshani $ 60,000 $ 153,464 $ 213,464TimothyV.Talbert $ 75,000 $ 153,464 $ 228,464JeffreyH.Vanneste(4) $ 8,055 $ - $ 8,055ThomasC.Wertheimer $ 95,000 $ 153,464 $ 248,464RutaZandman $ 210,000(5) $ 153,464 $ 363,464RaananZilberman(3) $ 64,199 $ 153,464 $ 217,663 (1) AmountsrepresentthefairvalueoftheRSUsgranted,determinedinaccordancewithFASBASCTopic718inthe

yearofgrantandtheassumptionssetforthinNote12ofourconsolidatedfinancialstatementsonForm10-KfiledonFebruary14,2020.Thegrant-datefairvalueisrecognizedforaccountingpurposesovertherespectivevestingperiods.

(2) Mr.MaierretiredfromtheBoardofDirectorseffectiveMay14,2019.Uponhisretirement,Mr.Maier'soutstandingrestricted stock units vested proportionally, and the unvested portion of such awards were forfeited. The grantdatefairvalueof2019stockawardsthatvestedwas$20,659.

(3) Committeefeesproratedbasedonrespectiveappointmentdates.(4) Mr.VannestewasappointedtotheBoardofDirectorsonNovember19,2019.(5) Effective January 1, 2012, Mrs. Ruta Zandman was appointed as the director responsible for preserving the

memory of the late Dr. Felix Zandmanandthe Company's corporate history. For her continuedservice on thisproject, Mrs. Zandman receives $150,000 per annum in addition to her Board of Directors cash retainer of$60,000.

TheBoardevaluatesdirectorcompensationannuallyandbelievesthatthisstructure,firstimplementedin2017,remainsappropriate.


2020 Proxy Statement | Director Stock Ownership Guidelines Table of Contents

DIRECTOR STOCK OWNERSHIP GUIDELINES

To further align the interests of the Company's directors with its stockholders, the Board adopted stock ownershipguidelines in 2016 applicable to the Company's directors (the "Stock Ownership Guidelines"). The Stock OwnershipGuidelinesareasfollows: • Eachnon-employeedirectorshouldownanamountofsharesofVishayCommonStockequalto5timesthevalue

ofthedirector'sannualcashretainer,subjecttoa5-yearphase-inperiod(i.e.,through2021,orlaterifelectedafterJanuary1,2017);

• Followingthe5-yearphase-inperiod,non-employeedirectorswhodonotmeettherequiredownershipthreshold

would receive shares in place of the director's annual cash retainer andbe subject to stock transfer restrictionsuntilsuchtimeastheownershipthresholdissatisfied;

• ForpurposesofanalyzingcompliancewithStockOwnershipGuidelines,onlyfullyvestedsharesareincludedina

director'sholdings(e.g.unvestedRSUsarenotincluded). Thefollowingtablesummarizesnon-employeedirectorcompliancestatuswiththeStockOwnershipGuidelines:DIRECTOR STATUS MichaelJ.Cody Compliantbyendofthephase-inperiod Dr.AbrahamLudomirski Compliant ZivShoshani Compliant TimothyV.Talbert Compliant JeffreyH.Vanneste Compliantbyendofthephase-inperiod ThomasC.Wertheimer Compliant RutaZandman Compliant RaananZilberman Compliantbyendofthephase-inperiod


2020 Proxy Statement | Governance of the Company Table of Contents

GOVERNANCE OF THE COMPANY

What is corporate governance?

Corporategovernanceistheprocessbywhichcompaniesgovernthemselves.

AtVishay,day-to-daybusinessactivitiesarecarriedoutbyouremployeesunderthedirectionandsupervisionofourChiefExecutiveOfficer("CEO").TheBoardofDirectorsoverseestheseactivities.Indoingso,eachdirectorisrequiredtousehisorherbusinessjudgmentinthebestinterestsofVishayanditsstockholders.TheBoard'sprimaryresponsibilitiesinclude:• ReviewofVishay'sperformance,strategies,andmajordecisions;

• OversightofVishay'scompliancewithlegalandregulatoryrequirementsandtheintegrityofitsfinancialstatements;

• Oversightofmanagement,includingreviewoftheCEO'sperformanceandsuccessionplanningforkeymanagementroles;

• Oversightofriskmanagement;and • Oversight of compensation for the CEO, key executives and the Board, as well as oversight of compensation

policiesandprogramsforallemployees.AdditionaldescriptionoftheBoard'sresponsibilitiesisincludedinourCorporateGovernancePrinciples,whichisavailabletostockholdersonourwebsiteandinprintuponrequest,asdescribedbelow.

Where can I find more information about the corporate governance practices of Vishay?

Variouscorporategovernancerelateddocumentsareavailableonourwebsite.Theseinclude:• CorporateGovernancePrinciples

• CodeofBusinessConductandEthics

• CodeofEthicsforFinancialOfficers • AuditCommitteeCharter • NominatingandCorporateGovernanceCommitteeCharter • CompensationCommitteeCharter • ClawbackPolicy • Hedging-PledgingPolicy • NominatingandCorporateGovernanceCommitteePolicyRegardingQualificationofDirectors • ProceduresforSecurityholders'SubmissionsofNominatingRecommendations • RelatedPartyTransactionsPolicy

• EthicsHelplineToviewthesedocuments,accessir.Vishay.comandclickon"CorporateGovernance."AnyofthesedocumentscanbeobtainedinprintbyanystockholderuponwrittenrequesttoVishay'sinvestorrelationsdepartment.

Weintendtopostanyamendmentstooranywaiversfrom,aprovisionofourCodeofBusinessConductandEthicsorCodeofEthicsforFinancialOfficersonourwebsite.



What is the composition of our Board of Directors?

VishayhasastaggeredBoardofDirectorsdividedintothreeclasses.ThenumberofdirectorsisfixedbytheBoardofDirectors,subjecttoaminimumofthreeandamaximumoffifteendirectorsasprovidedintheCompany'scharterdocuments.AsdescribedinProposalOne,threedirectorsarenominatedforelectionasClassIIdirectorsforatermexpiringattheannualmeetingofstockholdersin2023andonedirectorisnominatedforelectionasaClassIIIdirectorforatermexpiringattheannualmeetingofstockholdersin2021.Biographicalinformationoneachofthecurrentandnominateddirectorsisincludedundertheheading"Directors"onpage4.

How does the Board determine which directors are considered independent?

TheBoardhasadoptedaformalsetofdirectorqualificationstandardsusedtodeterminedirectorindependencewhichmeettheindependencerequirementsoftheNYSEcorporategovernancelistingstandards.TheBoardhasdeterminedthat,tobeconsideredindependent,adirectormaynothaveadirectorindirectmaterialrelationshipwiththeCompanyotherthanasadirector.Amaterialrelationshipisonewhichimpairsorinhibits,orhasthepotentialtoimpairorinhibit,adirector'sexerciseofcriticalanddisinterestedjudgmentonbehalfoftheCompanyanditsstockholders.ThematerialitystandardappliedbytheBoardincludes,butisnotlimitedto,thedisqualifyingrelationshipssetforthinthegovernancelistingstandardsoftheNYSE.Thestandardsspecifythecriteriafordeterminingdirectorindependence,includingstrictguidelinesfordirectorsandtheirimmediatefamiliesregardingemploymentoraffiliationwithusorourindependentregisteredpublicaccountingfirm.ThestandardsalsoprohibittheAuditCommitteemembersfromhavinganydirectorindirectfinancialrelationshipwithus. TheNominatingandCorporateGovernanceCommittee,withthehelpofcounsel,hasreviewedtheapplicablelegalstandardsforBoardandcommitteememberindependence,theCompany'sstandardsofindependenceandappliedthecriteriatodetermine"auditcommitteefinancialexpertstatus".TheCommitteehasalsoreviewedasummaryoftheanswerstoannualquestionnairescompletedbyeachdirector.OnthebasisofthisreviewtheCommitteehascommunicateditsfindingstothefullBoardandtheBoardhasaffirmativelyconcludedthatMichaelJ.Cody,Dr.AbrahamLudomirski,RonaldRuzic,TimothyTalbert,JeffreyH.Vanneste,ThomasC.Wertheimer,andRaananZilbermanqualifyasindependentdirectorsandFrankDieterMaierqualifiedasanindependentdirectorpriortohisretirement.EachoftheAuditCommittee,theNominatingandCorporateGovernanceCommittee,andtheCompensationCommitteeoftheBoardiscomposedentirelyofindependentdirectors.How often did the Board meet during 2019?

TheBoardofDirectorsmetsixtimesduringtheyearendedDecember31,2019.RegularlyscheduledexecutivesessionsoftheBoard'sindependentdirectorswerealsoheld.In2019,eachdirectorattendedatleast75%oftheaggregatenumberofmeetingsoftheBoardofDirectorsandanyCommitteeonwhichsuchdirectorserved.Vishay'spolicyondirectorattendanceatannualmeetingsofstockholdersisincludedinVishay'sCorporateGovernancePrincipleswhichmaybefoundonourwebsiteatir.Vishay.com.



What is the role of the Board's Committees and what is their composition?

TheBoardofDirectorsmaintainsanExecutiveCommittee,aNominatingandCorporateGovernanceCommittee,anAudit

Committee,andaCompensationCommittee.EachCommitteeisdescribedbelow.CopiesofallCommitteechartersareavailableonourwebsiteandinprintuponrequest.Thecompositionofthese

Committeesissummarizedunder"Directors"above.

Executive Committee-TheExecutiveCommitteeisauthorizedtoexerciseallfunctionsoftheBoardofDirectorsintheintervalsbetweenmeetingsoftheBoardtotheextentdelegatedbytheBoardandaspermittedbyDelawarelaw.ThecurrentchairmanoftheCommitteeisMr.Zandman.

Nominating and Corporate Governance Committee-ThefunctionsoftheNominatingandCorporateGovernanceCommitteeincludeidentifyingindividualsqualifiedtobecomemembersoftheBoard;selectingorrecommendingthattheBoardofDirectorsselectthedirectornomineesforthenextannualmeetingofstockholders;developingandrecommendingtotheBoardasetofcorporategovernanceprinciplesforVishay;overseeingtheevaluationoftheBoardandthemanagementofVishay;administeringVishay'sRelatedPartyTransactionsPolicy;andperformingotherrelatedfunctionsspecifiedintheCommittee'scharter.ThecurrentchairmanoftheCommitteeisDr.AbrahamLudomirski.

Audit Committee-ThefunctionsoftheAuditCommitteeincludeoverseeingVishay'saccountingandfinancialreportingprocesses;overseeingtheauditsofourconsolidatedfinancialstatementsandtheeffectivenessofourinternalcontroloverfinancialreporting;assistingtheBoardinitsoversightoftheintegrityofourfinancialstatements,ourcompliancewithlegalandregulatoryrequirements,theindependenceandqualificationsofourindependentregisteredpublicaccountingfirm,andtheperformanceofourinternalauditfunctionandindependentregisteredpublicaccountingfirm;andperformingotherrelatedfunctionsspecifiedintheCommittee'scharter.TheAuditCommitteeconsistsofatleastthreenon-managementdirectors,eachofwhomsatisfiestheindependencerequirementsoftherulesoftheSECandthegovernancelistingrequirementsoftheNYSE.AllofthemembersoftheCommitteealsosatisfythefinancialliteracyrequirementsoftheNYSEandourBoardhasdeterminedthatMr.ThomasC.Wertheimer,thechairmanoftheCommittee,andMr.JeffreyH.Vanneste,qualifyasAuditCommitteefinancialexpertsundertherulesoftheSEC.

Compensation Committee-ThefunctionsoftheCompensationCommitteeincludeevaluatingtheperformanceoftheChiefExecutiveOfficer;establishingandapprovingallcompensationforourExecutiveOfficers;makingrecommendationstotheBoardwithrespecttocompensationofnon-managementdirectors;makingrecommendationstotheBoardwithrespectto,andadministering,ourincentivecompensationplansandequitybasedcompensationplans;andperformingotherrelatedfunctionsspecifiedintheCommittee'scharter.TheCompensationCommitteeisauthorized,withinthelimitsofthe2007StockIncentiveProgramofVishay(the"2007Program"),todeterminetheindividualswhoaretoreceivegrants,includingstock,stockoptions,restrictedstockandrestrictedstockunits("RSUs"),andthevestingrequirementswithrespecttothosegrants,andtoadministerandinterprettheplan.ThecurrentchairmanoftheCommitteeisMr.TimothyTalbert.Alsosee"ExecutiveCompensation."ThechairmanoftheCompensationCommitteepresidesattheexecutivesessionsoftheBoard'sindependentdirectors.



Executive

Committee(1) Audit CommitteeNominating and Corporate

Governance CommitteeCompensation

CommitteeNumber of Meetings during 2019 - 6 4 5(1) The Executive Committee meets informally throughout the year to discuss various business issues. Informal

meetingsarenotincludedinthenumberofmeetingsdisclosedabove.What is the Board's leadership structure?

TheBoardbelievesthatitisimportantandintheCompany'sbestintereststoretaintheflexibilitytocombineorseparatetheresponsibilitiesoftheofficesofChairmanoftheBoardandChiefExecutiveOfficer,asdeterminedbytheBoardfromtimetotime.TheBoardseparatedthepositionsofChairmanandChiefExecutiveOfficerin2004whentheCompany'slatefounderandChairman,Dr.FelixZandman,steppeddownfromhispositionasourChiefExecutiveOfficertofocusmainlyontechnicalandbusinessdevelopmentissues.Mr.MarcZandmansucceededDr.ZandmanasExecutiveChairmanoftheBoardofDirectorsandChiefBusinessDevelopmentOfficeruponDr.Zandman'spassing.Mr.MarcZandmanissignificantlyinvolvedwiththeCompany'sstrategicdirectionasourExecutiveChairmanandChiefBusinessDevelopmentOfficer,overseeingouracquisitionstrategy.Accordingly,theCompanybelievesthatitisappropriatethatheserveasExecutiveChairman.Atthesametime,theactivemembershipofDr.Paul,ourChiefExecutiveOfficer,ontheBoardassuresourBoardofthebenefitofhiscomprehensiveknowledgeoftheCompany'sbusiness,operations,industryenvironmentandcompetitivechallenges.Atthecurrenttime,theBoardbelievesthisremainstheoptimalstructure.

Independentdirectorsandmanagementhavedifferentperspectivesandrolesinstrategydevelopment.OurindependentdirectorsbringoversightskillsandexperiencefromoutsidetheCompanyandtheindustry,whileourCEOandExecutiveChairmanbringCompany-specificexpertise.ThisstructurepermitsopendiscussionandassessmentoftheCompany'sabilitytomanagetherisksandchallengestheCompanyfacesandprovidestheappropriatebalancebetweenstrategydevelopmentandindependentoversightofmanagement.

Theindependentdirectorsmeetinregularlyscheduledexecutivesessionsandwhenrequired,inspecialexecutivesessions.



What is the Board's role in risk oversight?

ManagementcontinuallymonitorsthematerialrisksfacingtheCompany,includingfinancialrisk,strategicrisk,operationalrisk,andlegalandcompliancerisk.TheBoardofDirectorsisresponsibleforexercisingoversightofmanagement'sidentificationandmanagementof,andplanningfor,thoserisks.AlthoughtheBoardisultimatelyresponsibleforriskoversightattheCompany,theBoardhasdelegatedtocertainCommitteesoversightresponsibilityforthoserisksthataredirectlyrelatedtotheirareaoffocus. The Audit Committeereviewsourpoliciesandguidelineswithrespecttoriskassessmentandriskmanagement,includingourmajorfinancial

riskexposures,andoverseesthestepsmanagementhastakentomonitorandcontrol

thoseexposures.

The Compensation Committeeconsidersriskissueswhenestablishingandadministeringourcompensationprogramsforexecutiveofficers

andotherkeypersonnel.

The Nominating and Corporate Governance

Committeeoverseescorporategovernancerisks,includingmattersrelatingtothe

compositionandorganizationoftheBoardandrecommendstotheBoardhowits

effectivenesscanbeimprovedbychangesinitscompositionandorganization.

EachoftheseCommitteesroutinelyreportstotheBoardonthemanagementofthesespecificriskareas.TopermittheBoardanditsCommitteestoperformtheirrespectiveriskoversightroles,individualmembersofmanagementwhosupervisetheCompany'sriskmanagementreportdirectlytotheBoardortherelevantCommitteeoftheBoardresponsibleforoverseeingthemanagementofspecificrisks,asapplicable.

TheBoardbelievesthatfullandopencommunicationbetweenmanagementandtheBoardisessentialforeffectiveriskmanagementandoversight.MembersoftheCompany'sseniormanagementregularlyattendBoardandCommitteemeetingsandareavailabletoaddressanyquestionsorconcernsraisedonmattersrelatedtoriskmanagement.TheBoardanditsCommitteesexercisetheirriskoversightfunctionbycarefullyevaluatingthereportstheyreceivefrommanagementandbymakinginquiriesofmanagementwithrespecttoareasofparticularinteresttotheBoard. How does the Board select nominees for the Board?

Inselectingcandidatesfornominationattheannualmeetingofourstockholders,theNominatingandCorporateGovernanceCommitteebeginsbydeterminingwhethertheincumbentdirectorswhosetermsexpireatthemeetingdesireandarequalifiedtocontinuetheirserviceontheBoard.Weareoftheviewthattherepeatedserviceofqualifiedincumbentspromotesstabilityandcontinuityintheboardroom,givingusthebenefitofthefamiliarityandinsightintoouraffairsthatourdirectorshaveaccumulatedduringtheirtenureandcontributingtotheBoard'sabilitytoworkasacollectivebody.Accordingly,itisthepolicyoftheCommittee,absentspecialcircumstances,tonominatequalifiedincumbentdirectorswhocontinuetosatisfytheCommittee'scriteriaformembershipontheBoard,whotheCommitteebelieveswillcontinuetomakeimportantcontributionstotheBoard,andwhoconsenttostandforre-electionand,ifre-elected,tocontinuetheirserviceontheBoard.IfthereareBoardpositionsforwhichtheCommitteewillnotbere-nominatingaqualifiedincumbent,theCommitteewillsolicitrecommendationsfornomineesfrompersonswhotheCommitteebelievesarelikelytobefamiliarwithqualifiedcandidates,includingmembersoftheBoardandseniormanagement.

TheCommitteemayalsoengageanindependentsearchfirmtoassistinidentifyingqualifiedcandidates.Wheresuchasearchfirmisengaged,theCommitteewillsetthefeesandscopeofengagement.TheCommitteewillreviewandevaluateeachcandidatewhoitbelievesmeritsseriousconsideration,takingintoaccountallavailableinformationconcerningthecandidate,thequalificationsforBoardmembershipestablishedbytheCommittee,theexistingcompositionandmixoftalentandexpertiseontheBoardandotherfactorsthatitdeemsrelevant.Inconductingitsreviewandevaluation,theCommitteemaysolicittheviewsofmanagementandothermembersoftheBoardandmay,ifdeemedhelpful,conductinterviewsofproposedcandidates.TheCommitteewillevaluatecandidatesrecommendedbystockholdersinthesamemannerascandidatesrecommendedbyotherpersons,exceptthattheCommitteemayconsider,asoneofthefactorsinitsevaluationofstockholderrecommendedcandidates,thesizeanddurationoftheinterestoftherecommendingstockholderorstockholdergroupintheequityofVishayandwhetherthestockholdersorstockholdergroupintendtocontinueholdingitsinterestthroughtheannualmeetingdate.



What qualifications must a director have?

CandidatesfornominationtoourBoardareselectedbytheNominatingandCorporateGovernanceCommitteeinaccordancewiththeCommittee'scharter,ourAmendedandRestatedArticlesofIncorporation,ourBylawsandourCorporateGovernancePrinciples.UnderourNominatingandCorporateGovernanceCommitteePolicyRegardingQualificationsofDirectors,whichcanbefoundonourwebsite,werequirethatallcandidatesfordirector(includingthecontinuedserviceofexistingmembers)bepersonsofintegrityandsoundethicalcharacter;beabletorepresentallstockholdersfairly;havenointereststhatmateriallyconflictwiththoseofVishayanditsstockholders;havedemonstratedprofessionalachievement;havemeaningfulmanagement,advisoryorpolicymakingexperience;haveageneralappreciationofthemajorbusinessissuesfacingtheCompany;andhaveadequatetimetodevotetoserveontheBoardofDirectors.Whenconsideringnominees,theCommitteemayalsoconsiderwhetherthecandidatepossessesthequalifications,experienceandskillsitconsidersappropriateinthecontextoftheBoard'soverallcompositionandneeds.Alimitedexceptiontosomeoftheserequirements,otherthantherequirementsofintegrityandethicsandtheabsenceofmaterialconflict,maybemadeforaholderofsubstantialvotingpower.Additionally,directorsmaynotstandforre-electionaftertheageof75unlesstheBoardmakesanaffirmativedeterminationthat,becauseoftheimportanceandvalueofthecontinuedserviceofadirector,theretirementpolicyshouldbewaived,andinnoeventmayadirectorstandforre-electionaftertheageof85.Thispolicydoesnotapplytoanypersonwhocontrolsmorethan20%ofthevotingpoweroftheCompany.Wealsorequirethatamajorityofdirectorsbeindependent;atleastthreeofthedirectorshavethefinancialliteracynecessaryforserviceontheAuditCommitteeandatleastoneofthesedirectorsqualifiesasanAuditCommitteefinancialexpert;atleastsomeoftheindependentdirectorshaveservedasseniorexecutivesofpublicorsubstantialprivatecompanies;andatleastsomeoftheindependentdirectorshavegeneralfamiliaritywiththeindustriesinwhichweoperate.Additionally,whiletheCompanydoesnothaveaformalpolicywithrespecttotheconsiderationofdiversityinidentifyingdirectorcandidates,thebenefitsofboarddiversityareconsideredinthenominationsprocess,includingdiversityofbackgroundandexperience.Adetaileddescriptionofthequalificationsrequiredofcandidatesfordirector,aswellasthespecificqualitiesorskillswebelieveshouldbepossessedbyoneormoredirectors,canbefoundonourwebsiteunderourNominatingandCorporateGovernanceCommitteePolicyRegardingQualificationsofDirectors.Toassistitwithitsevaluationofthedirectornomineesforelectionatthe2020annualmeetingofstockholders,theNominatingandCorporateGovernanceCommitteetookintoaccountallofthefactorslistedabove.Inthesection"Directors",undertheheadings"NomineesforTermsExpiring2023"and"NomineeforTermExpiring2021"weprovideanoverviewofeachnominee'sprincipaloccupation,togetherwiththequalifications,keyattributesandskillsthattheCommitteeandtheBoardbelieveswillbestservetheinterestsoftheBoard,theCompanyandourstockholders.

Can I recommend a nominee for director?

Yes.TheNominatingandCorporateGovernanceCommitteewillconsiderrecommendationsfordirectornominationssubmittedbystockholdersentitledtovotegenerallyintheelectionofdirectors.SubmissionsmustbemadeinaccordancewiththeCommittee'sprocedures,asoutlinedbelowandsetforthonourwebsite.Foreachannualmeetingofourstockholders,theCommitteewillacceptforconsiderationonlyonerecommendationfromanystockholderoraffiliatedgroupofstockholders.TheCommitteewillonlyconsidercandidateswhosatisfyourminimumqualificationsfordirector,assummarizedinthisproxystatementandassetforthonourwebsite.Inconsideringastockholderrecommendation,theCommitteewilltakeintoaccount,amongotherfactors,thesizeanddurationoftherecommendingstockholder'sownershipinterestinVishayandwhetherthestockholderintendstocontinueholdingthatinterestthroughtheannualmeetingdate.Stockholdersshouldbeaware,asdiscussedabove,thatitisourgeneralpolicytore-nominatequalifiedincumbentdirectorsandthat,absentspecialcircumstances,theCommitteewillnotconsiderothercandidateswhenaqualifiedincumbentdirectorconsentstostandforre-election.

AstockholderwishingtorecommendtotheNominatingandCorporateGovernanceCommitteeacandidateforelectionasdirectormustsubmittherecommendationinwriting,addressedtotheCommittee,careofourCorporateSecretary,atVishayIntertechnology,Inc.,63LancasterAvenue,Malvern,PA19355.Submissionsmustbemadebymail,courier,orpersonaldelivery.E-mailedsubmissionswillnotbeconsidered.Submissionsrecommendingcandidatesforelectionatanannualmeetingofstockholdersmustgenerallybereceivednolaterthan120calendardayspriortothefirst

anniversaryofthedateoftheproxystatementforthepriorannualmeetingofstockholders.Intheeventthatthedateofanannualmeetingofstockholdersismorethan30daysfollowingthefirstanniversarydateoftheannualmeetingofstockholdersfortheprioryear,thesubmissionmustbemadeareasonabletimeinadvanceofthemailingofourproxystatementforthecurrentyear.Eachnominatingrecommendationmustbeaccompaniedbytheinformationcalledforbyour"ProceduresforSecurityholders'SubmissionofNominatingRecommendations,"whichispostedonourwebsite.Thisincludesspecifiedinformationconcerningthestockholderorgroupofstockholdersmakingtherecommendationandtheproposednominee,anyrelationshipsbetweentherecommendingstockholderorstockholdersandtheproposednomineeandthequalificationsoftheproposednomineetoserveasdirector.TherecommendationmustalsobeaccompaniedbytheconsentoftheproposednomineetoserveifnominatedandelectedandtheagreementofthenomineetobecontactedbytheCommittee,iftheCommitteedecidesinitsdiscretiontodoso.



How do stockholders and others communicate with the Board?

VishaystockholdersmaycommunicatewiththeBoardofDirectors,anyCommitteeoftheBoardoranyindividualdirector,andanyinterestedpartymaycommunicatewiththeindependentdirectorsoftheBoardasagroup,bydeliveringsuchcommunicationseitherinwritingaddressedorbye-mailto:

By Mail By e-mail

Corporate SecretaryVishayIntertechnology,Inc.63LancasterAvenueMalvern,PA19355

[email protected],000words

Allcommunicationsmustbeaccompaniedbythefollowinginformation:(i)ifthepersonsubmittingthecommunicationisasecurityholder,astatementofthetypeandamountofthesecuritiesofVishaythatthepersonholds;(ii)ifthepersonsubmittingthecommunicationisnotasecurityholderandissubmittingthecommunicationtotheindependentdirectorsasaninterestedparty,thenatureoftheperson'sinterestinVishay;(iii)anyspecialinterest,meaninganinterestnotinthecapacityasasecurityholderofVishay,ofthepersoninthesubjectmatterofthecommunication;and(iv)theaddress,telephonenumberande-mailaddress,ifany,ofthepersonsubmittingthecommunication.Communicationsaddressedtodirectorsmay,atthedirectionofthedirectors,besharedwithVishay'smanagement.


2020 Proxy Statement | Proposal One Table of Contents

PROPOSAL ONE

ELECTION OF DIRECTORS

OurstockholderswillbeaskedtoconsiderthreenomineesforelectiontoourBoardtoserveasClassIIdirectorsforatermexpiringattheannualmeetingofstockholdersin2023,andonenomineeforelectiontoourBoardtoserveasaClassIIIdirectorforatermexpiringattheannualmeetingofstockholdersin2021,anduntiltheirsuccessors,ifany,areelectedorappointed,ortheirearlierdeath,resignation,retirement,disqualificationorremoval.Thenomineesare:Class II nominees:

MichaelJ.Cody Dr.AbrahamLudomirski

RaananZilberman

Class III nominee: JeffreyH.Vanneste

Eachnominees'currentpositionsandoffices,tenureasaVishaydirector,theirrespectivecommitteememberships,andtheirqualificationsaresetforthunder"Directors"beginningonpage4.AllofthenomineesarecurrentVishaydirectors.TheNominatingandCorporateGovernanceCommitteereviewedthequalificationsofeachofthenomineesandrecommendedtoourBoardthateachnomineebesubmittedtoavoteofourstockholdersattheAnnualMeeting.TheBoardapprovedtheCommittee'srecommendationatitsmeetingonFebruary25,2020.

Eachofthenomineeshasagreedtobenamedandtoserveifelected.Ifanynomineefordirectorbecomesunavailableforelection,theproxieswillbevotedforsuchsubstitutenominee(s)astheBoardofDirectorsmaypropose.Ifyouvotedfortheunavailablenominee,yourvotewillbecastforhisorherreplacement.Wehavenoreasontobelievethatanyofthenomineeswillbeunableorunwillingtoserveifelected.UndertheCompany'sCorporateGovernancePrinciples,directorsmaynotstandforelectionorre-electionaftertheageof75,unlesstheBoardmakesanaffirmativedeterminationthat,becauseoftheimportanceandvalueofthecontinuedserviceofadirector,theretirementpolicyshouldbewaived.Innoeventmayadirectorstandforre-electionaftertheageof85.Thispolicydoesnotapplytoanypersonwhocontrolsmorethan20%ofthevotingpoweroftheCompany.

The Board of Directors recommends that you vote "FOR ALL" the nominees

for election as Class II and Class III directors.


2020 Proxy Statement | Report of the Audit Committee Table of Contents

REPORT OF THE AUDIT COMMITTEE

Managementisresponsibleformaintainingeffectiveinternalcontroloverfinancialreporting,forassessingtheeffectivenessofinternalcontroloverfinancialreporting,andforpreparingourconsolidatedfinancialstatements.Ourindependentregisteredpublicaccountingfirmisresponsiblefor,amongotherthings,performinganindependentauditofourconsolidatedfinancialstatementsinaccordancewithstandardsofthePublicCompanyAccountingOversightBoard(UnitedStates)("PCAOB")andissuingareportthereon.OurindependentregisteredpublicaccountingfirmisalsoresponsibleforauditingtheeffectivenessofourinternalcontroloverfinancialreportinginaccordancewithstandardsofthePCAOB,andissuingareportthereon.ItistheresponsibilityoftheAuditCommitteetomonitorandoverseetheseprocesses.

Infulfillingitsoversightduties,theAuditCommitteereviewedanddiscussedthefollowingwithmanagementandourindependentregisteredpublicaccountingfirm,Ernst&YoungLLP:(a)theauditedfinancialstatementsforthefiscalyearendedDecember31,2019;(b)theeffectivenessofourinternalcontroloverfinancialreporting;and(c)discussedwiththeindependentregisteredpublicaccountingfirmmattersrequiredtobediscussedunderPCAOBstandards.Theserequiredcommunicationsaddressed,amongothertopics,overallauditstrategy,timingoftheaudit,andsignificantrisksidentifiedandanychangesthereto;theindependentregisteredpublicaccountingfirm'sresponsibilityunderthestandardsofthePCAOB;goingconcern;significantandcriticalaccountingpoliciesandpractices;criticalaccountingestimates;significantunusualtransactions;difficultorcontentiousmatterssubjecttoconsultationoutsideoftheauditteam;newaccountingpronouncements;materialalternativeaccountingtreatments;correctedmisstatements;uncorrectedmisstatementsconsideredbymanagementtobeimmaterial;significantdeficienciesandmaterialweaknessesininternalcontroloverfinancialreporting;otherinformationindocumentscontainingauditedfinancialstatements;management'sSection302disclosuresaboutchangesininternalcontrol;additionalinformationincludedinmanagement'sreportoninternalcontrol;fraudandillegalacts;informationrelevanttotheaudit;feesandrelatedSECdisclosures;significantissuesdiscussedwithmanagementinconnectionwiththeauditor'sretention;significantdifficultiesencounteredinperforminganaudit;disagreementswithmanagement;management'sconsultationswithotheraccountants;othermaterialwrittencommunicationswithmanagement;andAICPAethicsrulingregardingthird-partyserviceproviders.TheAuditCommitteereceivedfromtheindependentregisteredpublicaccountingfirmwrittendisclosuresregardingthefirm'sindependencerequiredbyPCAOBEthicsandIndependenceRule3526,Communication with Audit Committees Concerning Independence,andhasdiscussedwiththeindependentregisteredpublicaccountingfirm,thefirm'sindependence.TheAuditCommitteealsoconsideredthecompatibilityofnon-auditservicesprovidedtoVishaybyErnst&YoungLLP,andthefeesandcostsbilledortobebilledfortheseservices,withthemaintenanceoftheindependentregisteredpublicaccountingfirm'sindependence.TheCommitteehasconcludedthattheprovisionofthenon-auditservicesbyErnst&YoungLLPin2019didnotimpairtheindependentregisteredpublicaccountingfirm'sindependence.(Thefeesandcostsbilledbytheindependentregisteredpublicaccountingfirmforauditandnon-auditservicesin2019and2018areshownunderProposalTwo.)UndertheAuditandNon-AuditServicesPre-ApprovalPolicythatwasadoptedbytheAuditCommitteeinMay2003(whichwasamendedandrestatedinOctober2010),theAuditCommitteemustpre-approveallauditandnon-auditservicesprovidedtoVishaybytheindependentregisteredpublicaccountingfirm.Thepolicysetsforththeproceduresandconditionsforpre-approvaloftheseservices.Alloftheauditandnon-auditservicesprovidedbytheindependentregisteredpublicaccountingfirmsinceadoptionoftheAuditandNon-AuditServicesPre-ApprovalPolicywerepre-approvedbytheCommitteeinaccordancewithsuchpolicy.TheAuditCommitteeconsistsofatleastthreenon-managementdirectors,eachofwhomsatisfiestheindependencerequirementsoftherulesoftheSECandthegovernancelistingrequirementsoftheNYSE.AllofthemembersoftheCommitteealsosatisfythefinancialliteracyrequirementsoftheNYSEandourBoardhasdeterminedthatMr.ThomasC.Wertheimer,thechairmanoftheCommittee,andMr.JeffreyH.Vanneste,qualifyasAuditCommitteefinancialexpertsundertherulesoftheSEC.

TheAuditCommitteeisresponsibleforappointment,compensationandoversightoftheindependentregisteredpublicaccountingfirm.TheCommitteeannuallyreviewsindependentregisteredpublicaccountingfirm'sperformanceandindependenceindecidingwhethertoretainthefirmorengageadifferentindependentregisteredpublicaccountingfirm.Inthecourseofthesereviews,theCommitteeconsiders,amongotherthings,thequalityandefficiencyofthefirm's

historicalandrecentauditplansandperformanceontheCompany'saudit;thefirm'scapabilityandexpertiseinhandlingthebreadthandcomplexityoftheCompany'sworldwideoperations.


2020 Proxy Statement | Report of the Audit Committee Table of Contents

Ernst&YoungLLPhasservedastheCompany'sindependentregisteredpublicaccountingfirmsince1968.TheAuditCommitteebelievesthattheknowledgeoftheCompany'sbusinessgainedbyErnst&YoungLLPthroughthisperiodofserviceisvaluableandthatretainingErnst&YoungLLPisinthebestinterestsoftheCompanyanditsstockholders.PursuanttoSECrules,theleadpartnermustberotatedafterfiveyears,whichprovidestheCompanythebenefitofnewthinkingandapproaches.TheAuditCommitteeisinvolvedintheselectionoftheleadpartnerfromErnst&YoungLLPtoservicetheCompany.

Basedupontheabovereviewanddiscussionswithmanagementandtheindependentregisteredpublicaccountingfirm,theAuditCommitteerecommendedtotheBoardofDirectorsthatourauditedfinancialstatementsbeincludedinourAnnualReportonForm10-KforthefiscalyearendedDecember31,2019forfilingwiththeSecuritiesandExchangeCommission.TheAuditCommitteehasappointedErnst&YoungLLPasourindependentregisteredpublicaccountingfirmforfiscalyear2020,buttheCommitteehasdeterminedinaccordancewithourhistoricalpracticestosubmittheappointmentforratificationbystockholders(SeeProposalTwo).

Respectfullysubmitted,

TheAuditCommitteeoftheBoardofDirectors

ThomasC.Wertheimer,ChairmanMichaelJ.CodyRonaldRuzicJeffreyH.VannesteNotwithstanding anything to the contrary set forth in any of our previous or future filings under the Securities Act or theExchange Act that might incorporate this proxy statement or future filings with the SEC, in whole or in part, the abovereport shall not be deemed to be "soliciting material" or "filed" with the SEC and shall not be deemed to be incorporatedby reference into any such filing.


2020 Proxy Statement | Proposal Two Table of Contents

PROPOSAL TWO

RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

TheAuditCommitteeoftheBoardofDirectorsisresponsiblefortheselectionofourindependentregisteredpublicaccountingfirm.TheCommitteehasdeterminedtoreappointthepublicaccountingfirmofErnst&YoungLLPasindependentregisteredpublicaccountingfirmtoauditourfinancialstatementsforthefiscalyearendingDecember31,2020,aswellastoaudittheeffectivenessofourinternalcontroloverfinancialreporting.Althoughstockholderapprovalfortheappointmentoftheindependentregisteredpublicaccountingfirmisnotrequired,wearecontinuingourpracticeofsubmittingtheselectionoftheindependentregisteredpublicaccountingfirmtostockholdersfortheirratification.

Ernst&YoungLLPhasservedasourindependentregisteredpublicaccountingfirmcontinuouslysince1968.TheAuditCommitteebelievesthattheknowledgeoftheCompany'sbusinessgainedbyErnst&YoungLLPthroughthisperiodofserviceisvaluable.PursuanttotheSECrules,theleadpartnermustberotatedafterfiveyears,whichprovidestheCompanythebenefitofnewthinkingandapproaches.

RepresentativesofthefirmofErnst&YoungLLPareexpectedtobepresentattheAnnualMeetingandwillhaveanopportunitytomakeastatementiftheysodesireandwillbeavailabletorespondtoappropriatequestionsfromstockholders.

UndertheAuditandNon-AuditServicesPre-ApprovalPolicythatwasadoptedbytheAuditCommitteeinMay2003(whichwasamendedandrestatedinOctober2010),theAuditCommitteemustpre-approveallauditandnon-auditservicesprovidedtoVishaybytheindependentregisteredpublicaccountingfirm.Thepolicysetsforththeproceduresandconditionsforpre-approvaloftheseservices.TheAuditCommitteehaspre-approvedgenerallytheengagementoftheindependentregisteredpublicaccountingfirmforservicesrelatingtoourfilingswiththeSEC(includingcomfortlettersandconsentsforsecuritiesofferings),acquisitionordispositionrelateddiligenceactivities,internalcontrolreviewandcompliance,interpretationandcompliancewithaccountingandaccounting-relateddisclosurerulesandstandards,certainattestservices,domesticandinternationaltaxplanningandcompliance,andriskmanagement.

ThefollowingtablesetsforththeaggregatefeesbilledbyErnst&YoungLLPforauditandnon-auditservicesrenderedtoVishayin2019and2018.Thesefeesarecategorizedasauditfees,audit-relatedfees,taxfees,andallotherfees.Thenatureoftheservicesprovidedineachcategoryisdescribedfollowingthetable. 2019 2018

Auditfees $ 5,900,000 $ 6,100,000Audit-relatedfees 100,000 200,000

Taxfees 700,000 800,000Allotherfees 100,000 100,000

Totalfees$ 6,800,000 $ 7,200,000Audit fees.ThesefeesgenerallyconsistofprofessionalservicesrenderedfortheauditsoftheconsolidatedfinancialstatementsofVishayanditsinternalcontroloverfinancialreporting,quarterlyreviews,statutoryaudits,issuanceofconsents,andassistancewithandreviewofdocumentsfiledwiththeSEC.

Audit-related fees.ThesefeesgenerallyconsistofassuranceandotherservicesrelatedtotheperformanceoftheauditorreviewofVishay'sfinancialstatementsorthataretraditionallyperformedbytheindependentregisteredpublicaccountingfirm,andconsultationsconcerningfinancialaccountingandreportingstandards.

Tax fees.Thesefeesgenerallyrelateprimarilytotaxcompliance,includingreviewandpreparationofcorporateandexpatriatetaxreturns,assistancewithtaxaudits,reviewofthetaxtreatmentforcertainexpenses,extra-territorialtaxanalysis,andtaxduediligencerelatingtoacquisitions.Theyalsoincludefeesforstateandlocaltaxplanningandconsultationswithrespecttovariousdomesticandinternationaltaxmatters.

All other fees.Thesefeesgenerallyconsistofreviewsforcompliancewithvariousgovernmentregulations,risk

managementandtreasuryreviewsandassessmentsandauditsofvariouscontractualarrangements.

Vishaydidnotmakeusein2019oftherulethatwaivespre-approvalrequirementsfornon-auditservicesincertaincasesifthefeesfortheseservicesconstitutelessthan5%ofthetotalfeespaidtotheindependentregisteredpublicaccountingfirmduringtheyear.

The Audit Committee and the Board of Directors recommend that you vote "FOR"

the ratification of the appointment of Ernst & Young LLP as our independent registered publicaccounting firm for the year ending December 31, 2020.


2020 Proxy Statement | Security Ownership of Certain Beneficial Owners andManagement Table of Contents

SECURITY OWNERSHIP OF CERTAIN

BENEFICIAL OWNERS AND MANAGEMENT

OnMarch23,2020,Vishayhadoutstanding132,547,608sharesofcommonstock,eachofwhichentitlestheholdertoonevote,and12,097,409sharesofClassBcommonstock,eachofwhichentitlestheholdertotenvotes.ClassBsharesaretransferableonlytocertainpermittedtransfereeswhilethecommonstockisfreelytransferable.ClassBsharesareconvertibleonaone-for-onebasisatanytimeintosharesofcommonstock.TransfersofClassBsharesotherthantopermittedtransfereesresultintheautomaticconversionoftheClassBsharesintocommonstock.Votingisnotcumulative.ThepercentageoftotalvotingpowerbelowrepresentsvotingpowerwithrespecttoallsharesofcommonstockandClassBcommonstock,asasingleclass,calculatedonthebasisoftenvotespershareofClassBcommonstockandonevotepershareofcommonstock.

ThefollowingtableshowsthenumberofsharesofVishaycommonstockandClassBcommonstockbeneficiallyownedby(a)eachdirectoranddirectornominee,(b)each"ExecutiveOfficer"identifiedunder"ExecutiveCompensation,"(c)thedirectors,directornominees,andexecutiveofficersofVishayasagroup,and(d)anypersonowningmorethan5%ofVishaycommonstockortheClassBcommonstock.Unlessotherwisenoted,theinformationisstatedasofMarch23,2020,andthebeneficialownersexercisesolevotingordispositivepowerovertheirshares.

COMMON STOCK CLASS B COMMON

STOCK

NAME SHARES OF

STOCK PERCENTOF CLASS

SHARES OFSTOCK

PERCENTOF CLASS

VOTINGPOWER

Directors and Executive Officers MarcZandman 34,826 * 8,618,334(2) 71.2% 34.0%MichaelJ.Cody 2,000 * - - *WernerGebhardt 2,431 * - - *LoriLipcaman 40,828 * - - *Dr.AbrahamLudomirski 86,232 * - - *Dr.GeraldPaul 157,076 * - - *RonaldRuzic 97,077 ZivShoshani 24,916 * 8,616,834(3) 71.2% 34.0%JoelSmejkal - * - - *TimothyV.Talbert 43,030 * - - *ClarenceTse 9,421 * - - *DavidValletta 36,071 * - - *JohanVandoorn 32,055 * - - *JeffreyH.Vanneste - * - - *ThomasC.Wertheimer 47,477 * - - *RutaZandman 250,868 * 10,849,383(1) 89.7% 42.9%RaananZilberman 10,185 * - - *All Directors and Executive Officers asa group (17 Persons) (4)

874,493

*

10,850,883

89.7%

43.1%

EugeniaAmes(6) - * 2,232,549 18.5% *(5)DeborahS.Larkin(7) - * 706,755 5.8% 2.8%BlackRock,Inc.(8) 15,613,254 11.8% - - 6.2%DimensionalFundAdvisors,LP(9) 9,661,828 7.3% - - 3.8%TheVanguardGroup,Inc.(10) 12,714,773 9.6% - - 5.0%DNBAssetManagementAS(11) 7,962,254 6.0% - - 3.1%



(1) Includes 8,616,834 shares of Class B common stock held in a family trust, of which Mrs. Ruta Zandman, Mr. Marc

ZandmanandMr.ZivShoshaniareco-trustees,andhavesharedvotingpower.Pursuanttoanagreementrelatedtothatfamily trust, eachof Mrs. ZandmanandMessrs. ZandmanandShoshani is requiredtocausesharescontrolledbythetrusttobevotedinsupportoftheelectionofeachoftheco-trusteesasdirectorsoftheCompany.Additionally,includes2,232,549sharesofClassBcommonstockthataresubjecttoavotingagreementpursuanttowhichMrs.Zandman,asVotingRepresentative,maydirectthevotingofsuchshares.

(2) Includesthesame8,616,834sharesofClassBcommonstockheldinafamilytrust,ofwhichMrs.RutaZandman,Mr.

MarcZandmanandMr.ZivShoshaniareco-trustees,andhavesharedvotingpower.Pursuanttoanagreementrelatedtothatfamilytrust,eachofMrs.ZandmanandMessrs.ZandmanandShoshaniisrequiredtocausesharescontrolledbythe trust to be voted in support of the election of each of the co-trustees as directors of the Company. Additionally,includes750sharesofClassBcommonstockdirectlyownedbyMr.MarcZandman;and750sharesofClassBcommonstockownedbyoneofMr.MarcZandman'schildren.

(3) Includesthesame8,616,834sharesofClassBcommonstockheldinafamilytrust,ofwhichMrs.RutaZandman,Mr.

MarcZandmanandMr.ZivShoshaniareco-trustees,andhavesharedvotingpower.Pursuanttoanagreementrelatedtothatfamilytrust,eachofMrs.ZandmanandMessrs.ZandmanandShoshaniisrequiredtocausesharescontrolledbythetrusttobevotedinsupportoftheelectionofeachoftheco-trusteesasdirectorsoftheCompany.

(4) Thebusinessaddressforalldirectorsandofficersis:c/oVishayIntertechnology,Inc.,63LancasterAvenue,Malvern,PA

19355. (5) Suchsharesaresubject toavotingagreementpursuanttowhichMrs. RutaZandman,asVotingRepresentative, may

directthevotingofsuchshares,andareincludedinthe2,232,549sharesofClassBcommonstockreportedasbeingbeneficiallyownedbyMrs.ZandmaninFootnote1.Ms.Ameshasdispositivepowerofsuchshares.Ms.Amesistherecord holder of 506,216 of these shares; the balance of the shares are held by trusts for the benefit of Ms. Ames'schildrenandotherfamilymembers.

(6) ThebusinessaddressforEugeniaAmesisJanneyMontgomeryScott, 780Route37West,Suite130,TomsRiver,NJ

08755,c/oMr.LeroyRachlin. (7) ThebusinessaddressforDeborahS.LarkinisWorldFinancial,270MadisonAvenue,Suite1503,NewYork,NY10016,

c/oMr.BruceAuerbach.(8) Based on information provided in a Schedule 13G/A filed on February 10, 2020 by BlackRock, Inc. According to the

Schedule13G/A,BlackRock,Inc.maybedeemedtohavesolepowertovoteordirectthevotewithrespectto15,290,082shares of common stock; and sole power to dispose or direct the disposition with respect to 15,613,254 shares.BlackRock,Inc.islocatedat55East52ndStreet,NewYork,NewYork10055.

(9) Based on information provided in a Schedule 13G/A filed on February 12, 2020 by Dimensional Fund Advisors, LP.

AccordingtotheSchedule13G/A,DimensionalFundAdvisors,LPmaybedeemedtohavesolepowertovoteordirectthe vote with respect to 9,514,443 shares of common stock; and sole power to dispose or direct the disposition withrespect to 9,661,828 shares. Dimensional Funds Advisors, LP is located at Palisades West, Building One, 6300 BeeCaveRoad,Austin,Texas78746.

(10) BasedoninformationprovidedinaSchedule13G/AfiledonFebruary12,2020byTheVanguardGroup,Inc.According

to the Schedule 13G/A, TheVanguardGroup, Inc. maybedeemedto havesole power to vote or direct the vote withrespect to 129,753shares of commonstock; sharedpower to vote or direct the vote with respect to 20,506shares ofcommonstock;solepowertodisposeordirectthedispositionwithrespectto12,583,314shares;andsharedpowertodisposeordirectthedispositionwithrespectto131,459shares.TheVanguardGroup,Inc.islocatedat100VanguardBlvd.,Malvern,PA19355.

(11) BasedoninformationprovidedinaSchedule13GfiledonJanuary16,2020byDNBAssetManagementAS.According

totheSchedule13G,DNBAssetManagementASmaybedeemedtohavesolepowertovoteordirect thevotewithrespect to 7,962,254 shares of common stock; and sole power to dispose or direct the disposition with respect to7,962,254 shares. DNB Asset Management AS is located at Dronning Aufemias Gate 30, Bygg M-12N, 0191 Oslo,

Norway.



Section 16(a) Delinquent Reports

Section16(a)oftheSecuritiesExchangeActof1934,asamended,requiresourdirectorsandexecutiveofficersandpersonswhobeneficiallyownmorethantenpercentofourcommonstocktoreporttheirownershipofandtransactionsinourstockinfilingswiththeSEC.Vishaybelieves,basedsolelyonareviewofourrecordsandotherpubliclyavailableinformation,thatourdirectorsandexecutiveofficersandpersonswhobeneficiallyownmorethantenpercentofourcommonstockcompliedwithallapplicableSection16(a)reportingrequirementsduringtheyearendedDecember31,2019,exceptthataForm4forMr.Maier'ssaleofsharesonMarch4,2019wasfiledtwodayslate.

Compensation Committee Interlocks and Insider Participation

NomemberoftheCompensationCommitteewasatanytimeduring2019anofficeroremployeeofVishayoranyoftheCompany'ssubsidiariesnorwasanysuchpersonaformerofficerofVishayoranyoftheCompany'ssubsidiaries.Inaddition,noCompensationCommitteememberisanexecutiveofficerofanotherentityatwhichoneoftheCompany'sexecutiveofficersservesontheboardofdirectors.

Restrictions on Hedging and Pledging

TheBoardconsidersitinappropriateforpersonsemployedbyorassociatedwiththeCompanytoengageincertaintransactionsrelatedtothesecuritiesoftheCompanywhichcouldresultintheirinterestsnolongerbeingalignedwiththesameinterestsandobjectivesasotherstockholdersoftheCompany.Therefore,aspartofitsSecuritiesTradingPolicy,werestrictthesepersonsfromhedging,engaginginshort-sales,transactinginpubliclytradedoptions,andpledgingsecuritiesoftheCompany.

Therestrictionsapplytoalldirectors,officers,employees,andconsultantsoftheCompanyoritssubsidiaries(“serviceproviders”)aswellasfamilymembersandanyothersthatresidewithaserviceprovider.Familymemberswhodonotresidewithaserviceprovideraresubjecttotherestrictionsifaserviceproviderdirects,influences,orcontrolstheirtransactionsinsecuritiesoftheCompany.Thisincludes,forexample,parentsorchildrenofaserviceproviderwhoconsultwiththeserviceproviderregardingtheirtrades.Lastly,entitiesthataserviceproviderinfluencesorcontrols,suchascorporations,partnershipsortrusts,aresubjecttotherestrictions(collectively,the“coveredpersons”).

Hedging.Certainhedgingandmonetizationtransactions,suchaszero-costcollarsandforwardsalecontracts,involvetheestablishmentofashortpositioninsecuritiesoftheCompanyandlimitoreliminatethecoveredperson’sabilitytoprofitfromanincreaseinthevalueofsecuritiesoftheCompany.Accordingly,thesetransactionscancauseacoveredperson’sintereststobemisalignedwithotherstockholdersoftheCompany.TheCompanythereforeprohibitsallhedgingandmonetizationtransactionsinvolvingsecuritiesoftheCompany.ShortsalesofsecuritiesoftheCompany(salesofsecuritiesthatarenotthenowned),includinga“saleagainstthebox”(asalewithdelayeddelivery),andtransactionsinpubliclytradedoptionsinsecuritiesoftheCompany,suchasputs,callsandotherderivativesecurities,arealsoprohibited.

Pledging.SecuritiesoftheCompanyheldinamarginaccountorpledgedascollateralforaloanmaybesoldwithoutthecoveredperson’sconsentifheorshefailstomeetamargincallordefaultsonaloan,whichmayoccuratatimewhenthecoveredpersonisawareofmaterialnonpublicinformationorisotherwisenotpermittedtotradeinCompanysecurities.Therefore,theseactivitiesareprohibited.


2020 Proxy Statement | Executive Compensation Table of Contents

EXECUTIVE COMPENSATION

Information Concerning Executive Officers

ThisExecutiveCompensationsectiondescribestheoverallcompensationpracticesatVishayandspecificallydescribesthetotalcompensationofourExecutiveOfficers.TheExecutiveOfficersofVishayalongwiththeirrespectiveagesandpositionswithVishay,asofMarch23,2020,areasfollows:

NAME AGE POSITION MarcZandman* 58 ExecutiveChairmanoftheBoard,ChiefBusinessDevelopmentOfficer,President–

VishayIsraelLtd.Dr.GeraldPaul* 71 ChiefExecutiveOfficer,PresidentandDirectorLoriLipcaman 62 ExecutiveVicePresidentandChiefFinancialOfficerJohanVandoorn 63 ExecutiveVicePresidentandChiefTechnicalOfficerDavidValletta 59 ExecutiveVicePresident–WorldwideSalesClarenceTse 61 ExecutiveVicePresidentBusinessHeadSemiconductorsJoelSmejkal 53 ExecutiveVicePresidentBusinessHeadPassiveComponentsWernerGebhardt 61 ExecutiveVicePresidentGlobalHumanResources

* BiographyisprovidedwiththeDirectors'biographiesundertheheading"Directors".

Lori Lipcaman was appointed Executive Vice President and Chief Financial Officer of theCompany effective September 1, 2011. Ms. Lipcaman had been appointed Executive VicePresident and Chief Accounting Officer in September 2008. Previously, she served asVishay's Corporate Senior Vice President, Operations Controller, from March 1998 toSeptember2008.Prior tothat, sheservedinvariouspositionsof increasingresponsibility infinanceandcontrollingsincejoiningtheCompanyinMay1989.

Johan Vandoornwas appointed Executive Vice President and Chief Technical OfficereffectiveAugust1,2011.Mr.VandoornisresponsibleforVishay'stechnicaldevelopmentandinternalgrowthprograms.Mr.Vandoornhasheldvariouspositionsofincreasingresponsibilitysince Vishay's acquisition of BCcomponents Holdings BV ("BCcomponents") in 2002,includingExecutiveVicePresident–PassiveComponents(2006–2012).Mr.VandoornhadbeenVicePresident–GlobalOperationsofBCcomponentsfrom2000untilitsacquisitionbyVishay,andpreviouslyworkedforPhilipsComponents("Philips")from1980untilPhilipssoldtheBCcomponentsbusinesstoaprivateequityfirmin1998.



David Vallettawas appointed as Vishay's Executive Vice President – Worldwide SaleseffectiveJanuary1,2007.Mr.Vallettahasheldvariouspositionsofincreasingresponsibilitysince Vishay's acquisition of Vitramon in 1994. Prior to joining Vitramon, Mr. Valletta alsoworkedforAVXCorporation.HisexperiencewithVishayincludesvariouspositionswithintheAmericas region in direct anddistribution sales management andglobal sales responsibilityfortheCompany'skeystrategiccustomers.

Clarence TsewasappointedExecutiveVicePresidentandBusinessHeadSemiconductorseffective January 1, 2017. Mr. Tse has held various positions of increasing responsibilitysince Vishay's acquisition of Siliconix/Telefunken in 1998, including Senior Vice President,DiodesDivision(2008- 2016), Senior Vice President, Power DiodesDivision(2002- 2008)andVicePresident,FinanceandAdministrationAsia(1998-2001).Mr.TsewasfirsthiredbySiliconixin1985.

Joel Smejkalwas appointed Executive Vice President and Business Head PassiveComponentseffectiveJanuary1,2017.Mr.SmejkalhasheldvariouspositionsofincreasingresponsibilitysincejoiningVishayin1990includingSeniorVicePresidentGlobalDistributionSales(2012-2016).Mr.Smejkal'sexperiencewithVishayincludesworldwideanddivisionalleadershiprolesinengineering,marketing,operationsandsales.Hewasaproductdeveloperof 18 U.S. Patents for the Power Metal Strip® resistor technology and brings significantbusinessdevelopment,marketingandsalesexperience.

Werner Gebhardtwas appointed Executive Vice President Global HumanResourceseffectiveJanuary1,2017.Mr.Gebhardthasheldvariouspositionsofincreasingresponsibility since Vishay's acquisition of Draloric Electronic GmbH ("Draloric") in 1987,including Senior Vice President Global HumanResources (2011- 2014) andAdministrativePresident Europe(2006- 2011). Mr. Gebhardt's experiencewithVishayincludesleadershiprolesinAdministrationandHumanResources.Mr.GebhardthadbeenemployedbyDraloricsince1975.

Officersserve,atthediscretionoftheBoardofDirectors,untilthemeetingoftheBoardofDirectorsnextfollowingeachannualmeetingofstockholders,subjecttotheirrightsunderanycontractsofemploymentdescribedunder

"CompensationDiscussionandAnalysis."



Compensation Discussion and Analysis Overview

TheCompensationCommitteeoftheBoardofDirectorsestablishesandapprovesallcompensationforallExecutiveOfficersandadministersVishay'sincentiveandequity-basedcompensationplan.SECdisclosurerulesrequiretabularpresentationregardingthecompensationoftheregistrant'sprincipalexecutiveofficer("PEO"),principalfinancialofficer("PFO"),andtheregistrant'sthreemostlyhighlycompensatedexecutiveofficersotherthanthePEOandPFO.BecausetheCompensationCommitteedeterminescompensationforallExecutiveOfficers,thisCompensationDiscussionandAnalysisdiscussescompensationofalleightofourExecutiveOfficers.Therequired"CompensationTables"beginningonpage45includeonlythefiveexecutivesrequiredtobedisclosedinthismannerbySECrules.Compensation Philosophy Generally

Vishay'scompensationprogramsaredesignedtosupportourbusinessgoalsandpromotetheshort-andlong-termprofitablegrowthoftheCompany.Vishay'sequityplansaredesignedtoensurethatexecutivecompensationprogramsandpracticesarealignedwiththelong-terminterestsofVishay'sstockholders.TotalcompensationofeachindividualvarieswithindividualperformanceandVishay'soverallperformanceinachievingfinancialandnon-financialobjectives.

TheCompensationCommitteeandVishay'smanagementbelievethatcompensationshouldhelptorecruit,retain,andmotivatekeyemployeeswhocanfunctioneffectivelybothinperiodsofrecessionandeconomicexpansion.Ordinarilyanexecutiveofficer'stotalcompensationshouldconsistofacombinationofcashpaymentsandequityawards,toachievetherightbalancebetweenshort-andlong-termperformance.Equity-basedcompensationshouldservetoaligntheinterestsofmanagementwiththoseofstockholders.Severanceprotectionandretirementbenefitsshouldprovideexecutiveswithanappropriatelevelofjobsecurity,commensuratewiththeircontributionstotheCompanyandtheirtenure.TheCompensationCommittee,inconsultationwithDr.PaulinhiscapacityasChiefExecutiveOfficer,undertakesanannualreviewofthecompensationarrangementsofVishay'sotherexecutiveofficers.

Performance Philosophy

TheCompany'scompensationphilosophyisintendedtointegratewithitsphilosophyofevaluatingoperatingperformance.TheCompanyutilizesseveralmeasuresandmetricstoevaluateitsperformance,asfurtherdescribedin"PerformanceMeasuresandMetrics"below,andinturn,theCompensationCommitteeutilizessimilarmeasuresinevaluatingexecutiveofficercompensation.

TheCompensationCommitteebelievesthattheelementsofcompensationfortheCompany'sseniorexecutivesrewardintrinsicallysoundmanagementdecisionsanddonotencouragerisktakingtoenhanceshort-termprofitabilityattheexpenseofthelong-termhealthandviabilityoftheenterprise.Whilethedesignofourexecutivecompensationprogramisprimarilyperformance-based,wedonotbelievethatitencouragesexcessiverisk-taking.TheCommitteebelievesthattheCompany'sseniorexecutiveshavetakenaprudentapproachtocorporateriskmanagement.Inaddition,theCompanyhasinplaceariskmanagementprogramdesignedtoidentify,evaluateandcontrolrisks.Throughthisprogram,wetakeacompany-wideviewofrisksandhaveanetworkofsystemsandoversighttoinsurethatrisksarenotviewedinisolationandareappropriatelycontrolledandreported,includingasystemofreportingtothefullBoardanditsCommittees.Webelievethatourcompensationprogramsworkwithinthissystem.Inresponsetocurrenttrendsinexecutivecompensationpractices,aswellasSECrulesencouragingmoreexplicitfocusonrisksarisingfromcompensationpolicies,Vishayhascommencedapracticeofmoredeliberatelyfocusingontherisks,ifany,arisingfromitsexecutivecompensationarrangements,andmodifyingsucharrangementstotheextentnecessarytominimizeanysuchrisks.



ThefactorsconsideredbytheCompensationCommitteeinevaluatingtherisksarisingfromcompensationarrangements,whichhavebeenincorporatedintothetermsandconditionsofsuchcompensationarrangements,include,innoparticularweightingororderofprominence:• Minimumbasesalarylevelsarefixedinamount;

• While annual cash bonuses focus on the achievement of short-term or annual goals and short-term goals may

encouragerisk-taking,annualcashbonusesforExecutiveOfficersarecappedinordertobalancetherisk;and

• AsignificantportionofourRSUscarrybothserviceandperformanceconditionswhicharetiedtooperatingresultsoverathree-yearperiod.

Furthermore,withrespecttoMr.ZandmanandDr.Paul:• a meaningful portion of compensation is deferred until retirement or termination of employment under our non-

qualifieddeferredcompensationplan;and • phantomstockunitsareonlysettleduponretirementorterminationofemployment,thusprovidinganincentivefor

thecreationoflong-termstockholdervalue.Eachofthesefactorsisintendedtoencourageanappropriatelong-termfocus,andtoalignthelong-terminterestsofseniormanagementwiththoseofourstockholders.

Executive Officer Employment Agreements TheCompany'semploymentagreementswithitsExecutiveOfficerscanbecategorizedintotwogeneraltypes.Thefirsttypearebasedonemploymentagreementsenteredin2004.Suchagreementshavebeenamendedfromtime-to-timesince2004,butthebasicframeworkhasremainedinplace.OurExecutiveChairman,Mr.Zandman,andourChiefExecutiveOfficer,Dr.Paul,havethistypeofagreement.TheCompensationCommitteebelievesthatthecompensationarrangementwithMr.ZandmaniscommensuratewithhisresponsibilitiesandrolesasExecutiveChairmanandChiefBusinessDevelopmentOfficer.Dr.Paulhasseniorresponsibilitiesforouroverallbusiness,andhasbeeninstrumentalaswellinpromotingourstrategicadvances.ThecompensationofDr.Paulreflectshispositionandresponsibilitiesatthemostseniorexecutivelevel.ThesecondtypeareagreementswithMs.LipcamanandMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardteffectivein2017andformalizedinagreementssignedin2018.TheemploymentagreementsforMs.LipcamanandMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardtaregenerallysimilarinformandsubstance,butfeaturecertainvariationsbasedupontherespectiverolesandresponsibilities,locationsofresidence,andtenureswiththeCompany.Thespecificarrangementsincorporatedintotheemploymentagreementsaredescribedin"CompensationComponents"below.



Role of the Compensation Consultant The Compensation Committee reviews the total compensation level of our Executive Officers each year, consideringindividual performance, prior years' compensation level, recent operating results, operating results of competitors,projectionsforthefuture,othercomponentsoftheexecutivepaypackages,perceivedsalarytrendsinexecutivebasesalary among the peer group of Vishay and input on executive performance from the Chief Executive Officer. ThedeterminationissubjectiveandtheCompensationCommitteedoesnotassignanyquantitativeweighttothesefactors.During 2019, the Compensation Committee engaged Radford to advise it regarding executive compensation. TheCompensation Committee assessed the independence of Radford based on NYSEListing Standards and SECrulesandconcludedthatitsworkdoesnotraiseanyconflictofinterest.

Inthecourseofitsengagement,Radforddeveloped,andtheCompensationCommitteeapproved,acustompeergroupofpubliccompaniesthatweresubstantiallysimilartoVishayintermsofindustry,revenues,andscopeofinternationaloperations.The2019peergroupconsistedofthefollowingcompanies:

• AVXCorp. • MKSInstruments,Inc.• Cree,Inc. • ONSemiconductorCorp.• KLACorporation • Qorvo,Inc.• MarvellTechnologyGroupLtd. • SkyworksSolutions,Inc.• MaximIntegratedProducts,Inc. • Teradyne,Inc.• MicrochipTechnology,Inc. • Xilinx,Inc.

Basedondataderivedfrompeergroupcompanies’filings,RadfordpresentedastudytotheCompensationCommitteethat assessed the competitiveness of our executive compensation practices, structures, pay mix and pay levels. Thestudy indicated that we are generally at the market median with respect to total direct compensation payable to ourexecutive officers, even though our allocation betweenvarious compensation elements diverges fromour peers. TheCompensationCommitteeconsideredthisstudyasoneofseveralfactors,alongwithindividualperformance,contractualentitlements,andpastpaypractices,insettingthecompensationpackagesforourexecutiveofficers.

Additionally, the Compensation Committee is working with Radford to consider redesigning certain elements of thecompensationprogramforourExecutiveOfficersin2020.In addition to the information provided by Radford, the Compensation Committee considered the roles that eachexecutiveplaysandisexpectedtoplayinVishay'soperations, development, andstrategicplanning. OursuccessionplanprovidesforthetransitionofMr.ZandmanintotheroleofChiefExecutiveOfficerupontheeventualretirementofDr.Paul.IfDr.PaulwereunexpectedlyunabletocontinueasChiefExecutiveOfficer,itisanticipatedthatMr.Zandmanwould serve in that position. Mr. Zandman was appointed to the roles of Executive Chairman and Chief BusinessDevelopmentOfficerafterthepassingofDr.FelixZandman.



Performance Measures and Metrics

Likeitspeersintheelectronicsindustry,theCompanyhashistoricallygaugeditsoverallperformanceinaccordancewithwhatitterms"adjustednetearnings."TheCompanyusesthistermtomeannetearningsdeterminedinaccordancewithU.S.generallyacceptedaccountingprinciples("GAAP")adjustedforvariousitemsthatmanagementbelievesarenotindicativeoftheintrinsicoperatingperformanceoftheCompany'sbusiness,asdetailedbelow.Non-GAAPmeasuressuchas"adjustednetearnings"donothaveuniformdefinitionsandmaynotbecomparabletosimilarlytitledmeasuresusedbyothercompanies.Reconcilingitemstoarriveatadjustednetearningsrepresentsignificantchargesorcreditsthatareimportanttounderstandingourintrinsicoperations.ThebonusesfortheExecutiveOfficersundertheCompany'scashbonusplansdiscussedbelow,includingtheVishayIntertechnologySection162(m)CashBonusPlan,werebasedprimarilyonthisperformancemetric.Adjustednetearningsand/oradjustedearningspershare,foramulti-yearperiod,arealsousedinconnectionwithperformance-basedRSUsforallExecutiveOfficers.

AdjustednetearningsfortheyearsendedDecember31,2019,2018and2017wereasfollows(in thousands, exceptper share): YEARS ENDED DECEMBER 31, 2019 2018 2017 GAAPnetearnings(loss)attributabletoVishaystockholders $ 163,936 $ 345,758 $ (20,344) Reconcilingitemsaffectingoperatingincome: Restructuringandseverancecosts $ 24,139 $ - $ 11,273 Reconcilingitemsaffectingotherincome(expense): Lossonearlyextinguishmentofdebt $ 2,030 $ 26,583 $ -Lossondisposalofequityaffiliate - - 6,112 Reconcilingitemsaffectingtaxexpense(benefit): Effectsoftax-basisforeignexchangegain $ 7,554 $ - $ -EnactmentofTCJA - 25,496 234,855Effectsofcashrepatriationprogram (9,583) (10,047) (5,802)Changesindeferredtaxesduetoearlyextinguishmentofdebt (1,601) (54,877) -Effectsofchangesinuncertaintaxpositions 2,831 - 1,565Taxeffectsofpre-taxitemsabove (6,211) (5,812) (3,331) Adjustednetearnings $ 183,095 $ 327,101 $ 224,328 Adjustedweightedaveragedilutedsharesoutstanding 145,136 154,622 157,010 Adjustedearningsperdilutedshare $ 1.26 $ 2.12 $ 1.43



TheCompanyalsomeasuresitsoverallperformancebasedon"freecash."TheCompanyusesthistermtomeanthecashflowsgeneratedfromcontinuingoperationslesscapitalexpendituresplusnetproceedsfromthesaleofassets.ThismetricisacomponentoftheincentivecompensationstructuresforMs.LipcamanandMessrs.Vandoorn,Valletta,andGebhardt.Thissamemetric,foramulti-yearperiod,isalsousedinconnectionwithperformance-basedRSUsgrantedforallExecutiveOfficers.Althoughtheterm"freecash"isnotdefinedinGAAP,eachoftheelementsusedtocalculate"freecash"ispresentedasalineitemonthefaceofourconsolidatedstatementofcashflowspreparedinaccordancewithGAAPasfollows: YEARS ENDED DECEMBER 31, 2019 2018 2017 Netcashprovidedbycontinuingoperatingactivities $ 296,444 $ 258,506 $ 368,777Proceedsfromsaleofpropertyandequipment 577 55,561 1,685Less:Capitalexpenditures (156,641) (229,899) (170,432)Freecash $ 140,380 $ 84,168 $ 200,030 Atthegrantdate,theCompensationCommitteemayprovideforcertainpre-definedadjustmentstothismetric.Fortheperformance-basedRSU'sgrantedin2019,thefreecashtargetmeasurewasadjustedbyaddingthetotalcashpaidpursuanttorestructuringprogramsdisclosedinthenotestotheCompany'sconsolidatedfinancialstatements.

The2019incentivecompensationstructuresforMs.LipcamanandMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardtweretailoredtotheirspecificresponsibilities.ThefollowingmeasuresandmetricswereutilizedindeterminingtheincentivecompensationpayabletotheseExecutiveOfficersfor2019:

• adjustednetearnings;• thirdpartynetsales;• variablemargin;• grossprofitmargin;• freecash;• segmentoperatingincome;and• divisionalcashflow.

ThirdpartynetsalesisanamountdeterminedinaccordancewithGAAPwhichisreportedinourconsolidatedfinancialstatements,includedinourannualreportonForm10-KfortheyearendedDecember31,2019.

Variablemarginisacostaccountingmetricwhichrepresentsthirdpartynetsaleslessmanufacturingcostswhichvaryinadirectrelationshipwithvolume(inotherwords,excludingfixedmanufacturingcostssuchasdepreciationandoverhead).

Grossprofitmarginiscomputedasgrossprofitasapercentageofnetrevenues.Grossprofitisgenerallynetrevenueslesscostsofproductssold,butalsodeductscertainotherperiodcosts,particularlylossesonpurchasecommitmentsandinventorywrite-downs.Grossprofitmarginisclearlyafunctionofnetrevenues,butalsoreflectsourcostmanagementprogramsandourabilitytocontainfixedcosts.Segmentoperatingincomeiscomputedasoperatingincomelessitemssuchasrestructuringandseverancecosts,assetwrite-downs,goodwillandindefinite-livedintangibleassetimpairments,inventorywrite-downs,gainorlossesonpurchasecommitments,globaloperations,salesandmarketing,informationsystems,financeandadministrativegroups,andotheritems.Divisionalcashflowisgenerallycomputedasthesegmentoperatingincomeplusdepreciationandlesscapitalexpenditures.Adjustmentsarealsomadeforcertainnon-cashitemssuchasforeigncurrencyeffects.



Compensation Components

Thediscussionthatfollowsinthissectionaddressestheexecutivecompensationpackagesineffectin2019.Thecomponentsof2019compensationforourExecutiveOfficerswereconsistentwiththeiremploymentagreementsandconsistedof:

SHORT TERM MEDIUM TERM LONG TERM• Basesalary • Equity-based

compensation • Retirementbenefits

• Cashperformance-basedincentivecompensation

• Contributionstothe

Company'sdeferredcompensationplan*

• Perquisitesandotherpersonalbenefits

*ForDr.Paul,Mr.Zandman,andMr.Valletta

ThecompensationpackagesforDr.PaulandMr.Zandman,asmentionedabove,reflecttheirpositionsandtenureasexecutiveofficersoftheCompany.Assuch,theseagreementsincludecompensationcomponentsotherthanbasesalary,cashperformance-basedincentivecompensation,andequity-basedcompensation,whicharenotavailabletoourotherExecutiveOfficers.Theseothercomponentsincludedeferredcompensation,certainadditionalseverancebenefits,annualgrantsofphantomstockunits,andcustomarywelfareandretirementbenefits.Base SalaryTheminimumbasesalarylevelsfortheExecutiveOfficersarefixedintheirrespectiveemploymentagreements.TheCompensationCommitteedeterminedtheminimumbasesalaries,basedupontheexecutives'salarylevel,presentresponsibilities,expectationswithrespecttofutureresponsibilitiesandacomparisontopeergroupexecutivesalaries.TheCompensationCommitteeselectedthegroupofpeergroupcompaniesontheadviceofitspreviouscompensationconsultant.CompensationpracticesinthepeergroupwereonlyoneofthefactorsconsideredbytheCompensationCommittee.ThebasesalariesofDr.Paul,Ms.Lipcaman,andMessrs.VandoornandGebhardtaredenominatedineuro,thebasesalaryofMr.ZandmanisdenominatedinIsraelishekels,andthebasesalaryofMr.TseisdenominatedinTaiwanesedollars.AportionofthechangeinthesalariesfortheseExecutiveOfficersexpressedintermsofU.S.dollarsreflectsthefluctuationsofthedollaragainstthecurrenciesofthehomejurisdictionoftheseexecutives.Theapprovedbasesalariesfor2019aresetforthbelow:

NAME 2019 BASE SALARYMarcZandman ILS3,748,954(approximately$1,051,000)(1)Dr.GeraldPaul €1,039,464(approximately$1,164,000)(2)LoriLipcaman €435,200(approximately$487,000)(2)JohanVandoorn €488,769(approximately$547,000)(2)DavidValletta $532,916ClarenceTse TWD18,320,880(approximately$592,000)(3)JoelSmejkal $407,141WernerGebhardt €252,452(approximately$283,000)(2)(1)PaidinIsraelishekels.(2)Paidineuro.

(3)PaidinTaiwandollars.



Incentive compensationTheCompanymaintainsacashbonusplan,theVishayIntertechnologySection162(m)CashBonusPlan(the"CashBonusPlan").

TheCashBonusPlanwasintendedtoqualifyasa"performance-based"planunderSection162(m)oftheInternalRevenueCode.ToqualifyunderSection162(m),stockholderapprovalwasrequiredforanymaterialamendmenttotheCashBonusPlanandtheplangenerallyhadtobere-approvedbythestockholderseveryfiveyears.TheamendedandrestatedCashBonusPlanwaslastapprovedbystockholdersatthe2017annualmeeting.TheTaxCutsandJobsAct("TCJA")wasenactedonDecember22,2017.IncludedintheTCJAaremanychangesintaxlawsregardingexecutivecompensation,includingtheremovaloftheexemptionfor"qualifiedperformance-basedcompensation"previouslyincludedinSection162(m).Nonetheless,theexecutiveofficerscontinuetoreceiveaportionoftheirincentivecompensationthroughtheCashBonusPlan.

TheincentivecompensationundertheCashBonusPlanprovidesanannualcashbonusasapercentageofour"adjustednetearnings,"asdescribedbelow.Overmanyyears,wehaveviewedadjustednetearningsastheprimaryindicatoroftheperformanceofourexecutivemanagementteam.Asmorespecificallyaddressedbelow,adjustednetearningsreferstonetearningsdeterminedinaccordancewithGAAP,adjustedtoeliminatetheaftertaxeffectsofitems,positiveornegative,thatdonotrelatetoourintrinsicoperations.Theseitemsinclude,amongothers,goodwillandlong-livedassetimpairmentcharges,severanceandrestructuringcosts,specialtaxitems,andotheritems,suchasunusualgainsorlossesthatimpactGAAPnetearnings,notreflectingon-goingoperatingactivities.ThecalculationofadjustednetearningsissetforthinourannualreportonForm10-Kaswellasundertheheading"PerformanceMeasuresandMetrics"inthisproxystatement.Weutilizethismeasureinpartbecauseiteliminatesfactorsthatmasktheactualperformanceofon-goingoperationsandbecauseofitscurrencywithotherpubliccompaniesinourindustry.Accordingly,theCompensationCommitteedeterminedthattheincentivecompensationofDr.PaulandMr.Zandmanshouldbeprimarilyintheformofapercentageofadjustednetearnings,withacap(threetimessalary)toavoidcompensationthatinfactorinappearancemightbedeemedexcessive.Thereisnominimumadjustednetearningsthreshold,andaccordingly,thebonusesforDr.PaulandMr.Zandmanbegintoaccruewiththefirstdollarofadjustednetearnings.Dr.Paul'sbonusisequalto1.25%ofadjustednetearnings.Mr.Zandman'sannualbonusisequalto1.0%ofadjustednetearnings.Undertheirrespectiveemploymentagreements,Ms.Lipcaman,andMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardtareeacheligibletoreceiveaperformancebonus,basedontheCompany'soverallandtheirindividualperformances.Ms.Lipcaman,andMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardteachhaveamaximumannualbonusopportunityof100%oftheirrespectivebasesalaries.OneelementoftheannualbonusesforExecutiveOfficers,otherthanDr.PaulandMr.Zandman,isastraightpercentageofadjustednetearningspursuanttotheCashBonusPlan,andotherelementsofsuchbonusesareexpressedasapercentageofbasesalary,measuredagainstspecificperformancegoals.PerformancegoalsforpurposesoftheannualbonusawardarerecommendedbytheChiefExecutiveOfficerandapprovedbytheCompensationCommittee.TheportionsofsuchbonusesthatareastraightpercentageofadjustednetearningsfortheseExecutiveOfficersareincludedintheCashBonusPlan.ThebonusesearnedforeachExecutiveOfficerin2019undertheCashBonusPlanwereasfollows:

NAME PERCENTAGE OF ADJUSTED NET

EARNINGS DOLLAR VALUE

($) MarcZandman 1.00% 1,830,950Dr.GeraldPaul 1.25% 2,288,688LoriLipcaman 0.15% 274,643JohanVandoorn 0.10% 183,095DavidValletta 0.05% 91,548ClarenceTse 0.07% 128,167

JoelSmejkal 0.07% 128,167WernerGebhardt 0.05% 91,548 TheperformanceoftheExecutiveOfficersotherthanDr.PaulandMr.ZandmanisreviewedbytheChiefExecutiveOfficerandtheCompensationCommitteefollowingtheendoftheyear,andeachexecutiveisassignedaperformancescoreforseveralcategories.Foradiscussionof2019goalsandachievedresultsfortheotherExecutiveOfficers,see"EvaluationofAchievementsforCashPerformance-BasedIncentiveCompensation."



Equity-Based CompensationThe2007Programpermitsthegrantofupto6,500,000sharesofrestrictedstock,unrestrictedstock,restrictedstockunits("RSUs"),stockoptions,andphantomstockunitstoofficers,employees,andnon-employeedirectors.

The2007Program,asamendedandrestated,wasapprovedatthe2014AnnualMeetingofStockholders.

TheCompensationCommitteebelievesthatthegrantofequityawardsistheprimarytoolforaligninginterestsoftheexecutiveofficerswiththelong-terminterestsoftheCompany'sstockholders.Accordingly,theCompensationCommitteeincludesalong-termincentive("LTI")componentintheformofequity-basedcompensationineachoftheexecutives'employmentagreements.

Inestablishingtheamountofequityawards,theCompensationCommitteeutilizedthemarket-competitiverangeofequityawardsgrantedtosimilarlysituatedexecutiveofficersofthepeergroupcompanies.TheCompensationCommitteeconcludedthatagrantofequityawardswithinsuchmarket-competitiverangewasappropriatetorewardandincentivizeourexecutiveofficers.TheemploymentagreementsoftheExecutiveOfficersprovideforannualgrantsofequitybasedcompensationintheformofRSUs.OfthetotalRSUsgranted,25%areintheformoftime-vestedRSUsthatcarryonlyaservicecondition.Theremaining75%areintheformofperformance-basedRSUs("PBRSUs"),whichalsoincludeaservicecondition.ThePBRSUswillvestattheconclusionofthethree–yearperformanceperiodsifcertaindefinedperformancecriteriaestablishedbytheCompensationCommittee(basedonadjustednetearnings,adjustedearningspershare,and/orfreecashoverathreeyearperiod)arerealized.50%ofthePBRSUswillvestif80%oftheapplicableobjectiveismet,andtheproportionofPBRSUssubjecttosuchcriterionwillincreaseby2.5%foreachadditional1%oftheapplicableobjective(between80%and100%).For2019,thegrantsweresizedbaseduponapercentageofbasesalary,asofthedateofgrant,asfollows:NAME LTI VALUEMarcZandman 125%ofbasesalaryDr.GeraldPaul 150%ofbasesalaryLoriLipcaman 40%ofbasesalaryJohanVandoorn 40%ofbasesalaryDavidValletta 40%ofbasesalaryClarenceTse 30%ofbasesalaryJoelSmejkal 30%ofbasesalaryWernerGebhardt 30%ofbasesalaryThenumberofRSUsgrantedannuallytoeachexecutiveisdeterminedbymultiplyingtheexecutive'sbasesalaryfortheapplicableyearbytherespectivepercentagesetforthaboveanddividingbytheclosingpriceofthecommonstockontheNewYorkStockExchangeonthelasttradingdayprecedingJanuary1oftheapplicableyear.Thetime-vestedRSUscarryonlyaserviceconditionandvestonJanuary1ofthethirdyearfollowingthegrant.ThePBRSUsincludeperformanceconditionsagreedtowiththeCompensationCommitteeinitsroleasadministratorofthe2007Program(basedonadjustednetearnings,adjustedearningspershare,and/orfreecashoverathreeyearperiod).Performance-basedtargetsrelatedtothePBRSUsaresetatlevelsintendedtobeattainablewithouttheneedtotakeinappropriaterisks.ThePBRSUscontainathree-yearserviceperiodandaresubjecttotheCompensationCommitteecertifyingthatallperformancecriteriahavebeensatisfied.In2019,theCompensationCommitteeawardedthefollowingRSUs(includingPBRSUs)toourexecutiveofficers:

NAME

TIME-VESTED

RSUs PBRSUs TOTAL MarcZandman 18,108 54,323 72,431

Dr.GeraldPaul 25,562 76,687 102,249LoriLipcaman 2,854 8,562 11,416JohanVandoorn 3,205 9,616 12,821DavidValletta 2,959 8,877 11,836ClarenceTse 2,530 7,592 10,122JoelSmejkal 1,451 4,354 5,805 WernerGebhardt 1,242 3,725 4,967



WithrespecttoourExecutiveOfficers,time-basedvestingconditionswillbedeemedsatisfied,andperformance-basedvestingconditionswillremainineffect,upontheexecutive'sdeath,disability,terminationwithoutcause,resignationwith"goodreason;"orresignationforanyreasonfollowingtheattainmentofage62(exceptwherecauseexists).Intheeventofvoluntaryterminationbytheexecutivebeforeage62(without"goodreason")orterminationforcause,theexecutive'soutstandingRSUs(includingPBRSUs)willbeforfeited.Forfinancialaccountingpurposes,thegrant-datefairvalueisdeterminedonthedatethattheCompensationCommitteeapprovesthenumberofRSUstobegrantedunderthisprovision.Accordingly,thevalueofthegrantonthatdatewillbedifferentthantheLTIvaluedescribedinthetableabove.AnyRSUsgrantedtosuchexecutiveofficersthatremainoutstandingatthetimeofsuchexecutiveofficer'sretirementafterage62inaccordancewiththetermsofhisorheremploymentagreementwiththeCompanyshall,inthecaseoftime-vestedRSUs,becomefullyvesteduponsuchretirementand,inthecaseofPBRSUs,vestifandtotheextenttheapplicableperformancecriteriaaremetinaccordancewithcurrentvestingschedules.Thesemodificationsareincludedinamendedandrestatedemploymentagreementsoftheseexecutiveofficers.ThePBRSUawardsgrantedin2016and2017fullyvestedin2019and2020,respectively.Theperformancemeasureforbothyearswasbasedontheaggregateadjustednetincomeandfreecashflowforthethreeyearperiod.Thecalculationofadjustednetincomeandfreecashflowisdescribedundertheheading“PerformanceMeasuresandMetrics”.Fortheboththe2016-2018period(vestingin2019)andthe2017-2019period(vestingin2020),thetargetwas$700million.Theactualachievementforthe2016-2018periodwas165%ofthetarget,andtheactualachievementforthe2017-2019periodwas169%ofthetarget. Phantom stock units

Aphantomstockunitistherighttoreceiveashareofcommonstockuponterminationofemployment.Pursuanttotheiremploymentagreements,Dr.PaulandMr.Zandmanreceiveannualgrantsof5,000phantomstockunits.Thegrantsaremadeunderthe2007Program.

Dr.PaulandMr.ZandmanreceivedividendequivalentsintheformofadditionalphantomstockunitseachtimetheCompanypaysadividendonitscommonstock.

Similartothedeferredcashcompensationdescribedbelow,theCompensationCommitteeconsidersthegrantofphantomstockunitsinthenatureofaretirementbenefitandaninducementtoloyaltytoVishayovertime.Thenumberofunitstobegrantedannuallywasdeterminedattheinceptionofthe2004agreements.Thecumulativeincreaseinthenumberofphantomstockunitsheldbytheexecutivesovertimealsoisintendedtostrengthenthealignmentofexecutiveandstockholderinterestsinthelong-termappreciationofVishay'sequityvalue.

NootherExecutiveOfficercurrentlyreceivesphantomstockunits.TheCompensationCommitteealsoconsiderstheawardofextra-contractualequity-basedcompensation,whenappropriate.However,nosuchadditionalequityawardsweregrantedtoanyExecutiveOfficerin2019.Deferred compensation

Executivesareeligibletoparticipateinanon-qualifieddeferredcompensationplan,whichisavailabletoallemployeeswhomeetcertaincriteriaundertheInternalRevenueCode.Vishayannuallycontributes$100,000foreachofDr.PaulandMr.Zandman,pursuanttotheirrespectiveemploymentagreements.Mr.Vallettaiseligibleforcontributionspursuanttothedeferredcompensationplan,similartoalleligibleplanparticipantswhoformerlyparticipatedinthefrozenVishayNon-qualifiedRetirementPlan.TheremainingExecutiveOfficersdonotparticipateinthedeferredcompensationplan.

AmountscontributedtotheseplanspriortoJanuary1,2005weredeemeddeferreduntilretirementorterminationofemployment.AmountscontributedbyemployeesafterJanuary1,2005mayhaveshorterdeferralperiods.Amounts

contributedbytheCompanyafterJanuary1,2005aregenerallydeferreduntilretirementorterminationofemployment.Totheextentrequiredtoavoidtaxpenalties,thedeferredamountsarenotpaiduntilsixmonthsaftertheterminationofemployment.Asnoted,Dr.PaulandMr.Zandmaneachhavealong-standingrelationshipwiththeCompany,andweexpectthateachwillcontinuetoserveVishayforsolongastheirservicesaredesiredandtheycanmakeeffectivemanagementcontributions.TheCompensationCommitteethereforeconsidersthisdeferredcompensationinthenatureofaretirementbenefitandananticipatoryrewardforloyaltytoVishayovertime.Whiledeferred,amountsarecreditedwith"earnings"basedontheperformanceofnotionalinvestmentoptionsavailableundertheplan.Noportionoftheearningscreditedduring2019was"abovemarket"or"preferential."



Retirement benefits

TheCompensationCommitteebelievesthatprovidingadequatepostretirementbenefitscommensuratewithpositionisessentialtoretainingqualifiedindividualsforlong-termemployment.Vishaymaintainspensionandretirementprogramsfor,ormakescertaingovernmentretirementprogramsavailableto,mostofitsemployeesaroundtheworld,includingitsExecutiveOfficers.TheretirementbenefitsforExecutiveOfficerspursuanttotheseprogramsarenotmateriallypreferentialtothoseofotheremployeesinthoserespectivecountries.

AspartoftheamendmentstotheemploymentagreementsforDr.PaulandMr.Zandmanin2010,theCompensationCommitteedeterminedtoextendtheseverancebenefitsfortheseexecutivestoalsoincludeanytermination(otherthanforcause)afterage62.Thisprovisionwasaddedinlightofthelong-standingtenureoftheseexecutivesandtoensureasmoothtransitionupontheirretirement.

Perquisites

WeprovideexecutiveofficerswithperquisitesandotherpersonalbenefitsthatVishayandtheCompensationCommitteebelievearereasonableandconsistentwithouroverallcompensationprogram.Theseperquisitesarenotintended,however,toconstituteamaterialportionoftheexecutive'scompensationpackage.Ingeneral,theperquisites,whilenotintegraltotheperformanceofanexecutive'sduties,mustbearsomerelationshiptotheexecutive'semploymentandbeofperceivedbenefittoVishay.TheCompensationCommitteeperiodicallyreviewsthelevelsofperquisitesandotherpersonalbenefitsprovidedtoExecutiveOfficers.

Severance TheCompensationCommitteebelievesthatseverancepaymentsintheeventofaninvoluntaryterminationofemploymentarepartofastandardcompensationpackageforseniorexecutives.Thetermsoftheseseveranceprovisionsarediscussedin"PotentialPaymentsUponTerminationoraChangeinControl."Special BonusesIncertainsituations,theBoardofDirectorswillawardspecial,one-timebonuses.Nospecialbonuseswereawardedin2019.



Evaluation of Achievements for Cash Performance-Based Incentive CompensationThefollowingsectionsdescribetheincentivecompensationstructureandachievementsfor2019forMs.Lipcaman,andMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardt(eachelementisexpressedasapercentageofbasesalaryattargetandatmaximum). Ms. Lipcaman

For2019Ms.Lipcaman'sincentivecompensationwascomprisedofoneelementequalto0.15%ofadjustednetearningsandotherelementsexpressedasapercentageofbasesalary,measuredagainstperformancegoals.Theseotherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM

RELATIVEACHIEVEMENT VS.

BUDGET/EXPECTATION

ACHIEVEMENT (AS APERCENTAGE OFBASE SALARY)

Freecash(2) 12.5% 12.5% 77% 3.1%Fixedcosts(2) 7.5% 7.5% >100% 7.5%Personalobjectives(3) 10.0% 10.0% 90% 9.0%Total 30.0% 30.0% 19.6%(1) The percentage at "Target" in this table represents the bonus payable at achievement of 100% of budget /

expectation. (2) Totheextentactualwaslessthanthebudget,thedeterminationofanappropriatepartialbonuspercentagewould

bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Ms. Lipcaman's individual performance goals for 2019 (with related bonus opportunity as a percentage of base

salary in parentheses) included: amending the revolving credit facility (3.0%); realigning the structure of certaindepartmentswithinthefinanceorganization(2.0%);implementingastrategytorefinancecertaindebtinstruments(1.0%); overseeing an in-depth reviewof certain insurance coverages (1.0%); overseeing the implementation ofcertainfinance-relatedtrainingcourses(1.0%);servingasexecutivesponsorofafinance-relatedITproject(1.0%);andrealigningafive-yearplanforcertainfinance-relatedITprojects(1.0%).Theachievementofthesegoalswasevaluatedandmeasuredintheaggregate.



Mr. Vandoorn

For2019,Mr.Vandoorn'sincentivecompensationwascomprisedofoneelementequalto0.1%ofadjustednetearningsandotherelementsexpressedasapercentageofbasesalary,measuredagainstperformancegoals.Theseotherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM


BUDGET/EXPECTATION


VariablemarginofdefinedR&Dprojects(4)

15.0%

15.0%

86%

12.9%

ThirdpartynetsalesofdefinedR&Dprojects(4)

10.0%

10.0%

84%

8.4%



bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Mr. Vandoorn's individual performance goals for 2019 (with related bonus opportunity as a percentage of base

salaryinparentheses)included:meetingR&Dmilestones(2.0%);definingnewinnovationtargetstoachievesalestarget (1.5%); fostering acquisition plans (1.5%); completing certain strategic projects (4.0%); and supportinginvestor relations, including participation in investor conferences (1.0%). The achievement of these goals wasevaluatedandmeasuredintheaggregate.

(4) Partialachievementrecognizedratably.



Mr. Valletta

For2019,Mr.Valletta'sincentivecompensationwascomprisedofoneelementequalto0.05%ofadjustednetearningsand other elements expressed as a percentage of base salary, measured against performance goals. These otherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM


BUDGET/EXPECTATION


Thirdpartynetsales(4) 5.0% 15.0% 90% 0.0%Standardvariablemarginonactualsales(2)(5)

12.5%

12.5%

75%

9.4%



bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Mr.Valletta'sindividualperformancegoalsfor2019(withrelatedbonusopportunityasapercentageofbasesalary

in parentheses) included: supportingthegrowthplan, particularly in Asia, includingspecific performancemetrics(2.0%);initiatingaprogramtoselectavendorforacustomerrelationshipmanagementsystem(1.5%);developinga process to manage tariff adders (1.0%); achieving accounts receivable aging targets (1.0%); securingqualificationofidentifiedproductsatcertainstrategiccustomers(1.0%);andmaintainingconsignmentinventoriesatspecificinventoryturnovertargets(1.0%).Theachievementofthesegoalswasevaluatedandmeasuredintheaggregate.

(4) Mr.Vallettawouldnotbeeligibletoreceiveabonusifactualperformancewerelessthan90%ofbudget.Ifactual

thirdpartynetsaleswerebetween90%and100%ofbudget,applicablebonusincreasesratablyfrom0%to5%ofbasesalary.If actualthirdpartynetsaleswerebetween100%and120%ofbudget, applicablebonusincreasesratablyfrom5%to15%ofbasesalary.

(5) Theuseofstandardvariablemarginbasedonactualsales(ratherthanactualvariablemargin)allowsMr.Valletta's

profitabilityachievementtobemeasuredindependentofproductionefficiencies/inefficienciesoverwhichhehasnocontrol.



Mr. Tse

For2019,Mr.Tse'sincentivecompensationwascomprisedofoneelementequalto0.07%ofadjustednetearningsandotherelementsexpressedasapercentageofbasesalary,measuredagainstperformancegoals.Theseotherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM


BUDGET/EXPECTATION


Adjustedoperatingmargin,Semiconductorsegments(4)

9.0%

15.0%

<85%

0.0%

Divisionalfreecash-Semiconductorsegments(2)

7.0%

7.0%

72%

1.4%

VariablemarginofdefinedR&Dprojects(2)

5.0% 5.0% 88% 4.4%

VariablemarginonSemiconductorsegments'sales(2)

5.0%

5.0%

<85%

0.0%

Definedgoalsfororganicgrowth-Semiconductorsegments(2)

8.0%

8.0%

75%

6.0%

Personalobjectives(3) 10.0% 10.0% 70% 7.0%Total 44.0% 50.0% 18.8%(1) The percentage at "Target" in this table represents the bonus payable at achievement of 100% of budget /


bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Mr.Tse'sindividualperformancegoalsfor2019(withrelatedbonusopportunityasapercentageofbasesalaryin

parentheses) included: achieving quality targets and implementing certain improvement programs (4.0%);achievingtransferofcertainproduction(2.0%);managingtariff activities(2.0%);andoverseeingcertainstrategicoperations andexpansionprojects (2.0%). Theachievement of thesegoals wasevaluatedandmeasuredin theaggregate.

(4) Mr. Tse would not be eligible to receive a bonus if actual performance were less than 85%of budget. If actual

adjustedoperatingmarginswerebetween85%and100%ofbudget,applicablebonusincreasesratablyfrom0%to9%of basesalary. If adjustedoperatingmarginswerebetween100%and130%of budget, applicable bonusincreasesratablyfrom9%to15%ofbasesalary.



Mr. SmejkalFor2019,Mr.Smejkal'sincentivecompensationwascomprisedofoneelementequalto0.07%ofadjustednetearningsandotherelementsexpressedasapercentageofbasesalary,measuredagainstperformancegoals.Theseotherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM


BUDGET/EXPECTATION


Adjustedoperatingmargin,PassiveComponentssegments(4)

9.0%

15.0%

86%

1.1%

Divisionalfreecash-PassiveComponentssegments(2)

7.0%

7.0%

89%

2.5%

VariablemarginofdefinedR&Dprojects(2) 5.0% 5.0% 86% 4.3%

VariablemarginonPassiveComponentssegments'sales(2)

5.0%

5.0%

93%

2.8%

Definedgoalsfororganicgrowth-PassiveComponentssegments(2)

8.0%

8.0%

96%

7.7%

Personalobjectives(3) 10.0% 10.0% 67% 6.7%Total 44.0% 50.0% 24.9%(1) The percentage at "Target" in this table represents the bonus payable at achievement of 100% of budget /


bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Mr.Smejkal'sindividualperformancegoalsfor2019(withrelatedbonusopportunityasapercentageofbasesalary

in parentheses) included: defining improved strategic plans for certain product lines (2.5%); achieving definedinventory turnover targets (2.0%); establishing a detailed restructuring plan for certain product lines (2.0%);achievingqualitytargets(1.5%);achievingservicetargets(1.0%);andoverseeingcertainstrategicoperationsandexpansionprojects(1.0%).Theachievementofthesegoalswasevaluatedandmeasuredintheaggregate.

(4) Mr.Smejkalwouldnotbeeligibletoreceiveabonusifactualperformancewerelessthan85%ofbudget.Ifactual

adjustedoperatingmarginswerebetween85%and100%ofbudget,applicablebonusincreasesratablyfrom0%to9%of basesalary. If adjustedoperatingmarginswerebetween100%and130%of budget, applicable bonusincreasesratablyfrom9%to15%ofbasesalary.



Mr. GebhardtFor2019,Mr.Gebhardt'sincentivecompensationwascomprisedofoneelementequalto0.05%ofadjustednetearningsandotherelementsexpressedasapercentageofbasesalary,measuredagainstperformancegoals.Theseotherelementswerestructuredasfollows:

CATEGORY

TARGET(1)

MAXIMUM


BUDGET/EXPECTATION




bemadebytheCompensationCommitteeinconsultationwiththeCEO. (3) Mr. Gebhardt's individual performance goals for 2019 (with related bonus opportunity as a percentage of base

salary in parentheses) included: enhancing HR's role as a business partner with operations (4.0%); overseeingprojectstoanalyzeworldwideHRplans(3.0%);harmonizingHRsystems(1.5%);andadministeringanemployeedevelopmentprogram(1.5%).Theachievementofthesegoalswasevaluatedandmeasuredintheaggregate.



Other Considerations Regarding Executive Compensation Israeli benefits

Mr.ZandmanisemployedbyVishayIsraelLtd.,anIsraelisubsidiaryofVishayIntertechnology,Inc.,andisaresidentofIsrael.Asaresult,heisentitledtocertainbenefitsthataregenerallyavailabletoemployeesinIsraelonanon-discriminatorybasis,butarenotaffordedtotheotherExecutiveOfficers,including:• advancedtrainingfund,7.5%ofbasesalary • severancefund,8.33%ofbasesalary • disabilityinsurance,2.5%ofbasesalary • pensionfund,5%ofbasesalary

ThesebenefitsarerequiredbyIsraelilaworemploymentpracticesgenerally,andweretakenintoaccountbytheCompensationCommitteeinformulatingtheoverallcompensationpackageforourexecutiveofficers.

Foreign currency considerations

Dr.PaulandMr.GebhardtareemployedbyGermansubsidiariesofVishay,VishayEuropeGmbHandVishayElectronicGmbH,respectively,andareGermancitizens.Accordingly,ouremploymentagreementswithDr.PaulandMr.Gebhardtprovidefortheirbasesalariestobedenominated(andpaid)ineuro.Ms.LipcamanisalsoemployedbyVishayEuropeGmbH,andheremploymentagreementprovidesforherbasesalarytobedenominated(andpaid)ineuro.Mr.VandoornisemployedbyVishayCapacitorsBelgiumNVandisacitizenofBelgium.Hisrespectiveemploymentagreementprovidesforhisbasesalarytobedenominated(andpaid)ineuro.Mr.Zandman,asaresidentofIsrael,hashisbasesalarydenominated(andpaid)innewIsraelishekels.Mr.TseisemployedbyVishaySingaporePte.Ltd.andisaresidentoftheRepublicofChina(Taiwan),withhisbasesalarydenominated(andpaid)inTaiwandollars.TheamountsreportedinU.S.dollarsascompensationfortheseexecutivesfluctuatebasedonchangesinexchangerates."Jubilee" Long-Service Awards AllemployeesofcertainVishaysubsidiariesinEuropereceiveaspecialawarduponachievingcertaindefinedyears-of-servicemilestones.During2018,Dr.Paulachievedhis40years-of-servicemilestone,whichisincludedin2018"AllOtherCompensation"ontheaccompanyingsummarycompensationtableonpage45.

Tax deductibility of executive compensationOnDecember22,2017,theTaxCutsandJobsAct("TCJA")wasenactedintheUnitedStates.

PriortotheenactmentoftheTCJA,Section162(m)oftheInternalRevenueCodelimitedtheannualtaxdeductionforcompensationpaidtoeachoftheChiefExecutiveOfficerandanyofthethreeotherhighestpaidexecutiveofficers,otherthantheChiefFinancialOfficer,to$1million.However,compensationthatqualifiedasperformance-basedcompensationwasdeductibleeveninexcessof$1million.PriortotheenactmentoftheTCJA,Vishaybelievedthatthecompensationitpaidtoitsexecutiveofficersgenerallywasdeductibleforfederalincometaxpurposes.TheannualbonusesundertheCashBonusPlanarebasedonVishay'searnings,andthereforequalifiedasperformance-basedcompensation.AwardsofPBRSUswerealsointendedtoqualifyasperformance-basedcompensation,asvestingwassubjecttotheCompany'sachievementofperformancetargetsofatypecontemplatedbyaplanapprovedbystockholders.

TheTCJAcontinuesthe$1millionlimitationontheannualtaxdeductionforcompensationpaidto"coveredemployees,"

andexpandstheofficersconsidered"coveredemployees."TheChiefFinancialOfficerisnowalsoconsidereda"coveredemployee."Inaddition,anyexecutivewhoisidentifiedasacoveredemployeeforataxyearafterDecember31,2016,remainsacoveredemployeeforallfutureyears.



TheTCJAremovestheexemptionfor"qualifiedperformance-basedcompensation"andalsoremovestheexemptionforcompensationpaidafterterminationineachcase,exceptforcompensationpayableunderawrittenbindingcontractineffectonNovember2,2017,solongasthecontractisnotmateriallymodifiedafterthatdate.

Aspartofitsrole,theCompensationCommitteereviewsandconsidersthetaxdeductibilityofexecutivecompensation.Theexemptionsforperformance-basedcompensationhadasignificantinfluenceonthehistoricaldesignofourexecutivecompensationprograms.Although,theCompanywillnotreceivethebenefitofdeductibilityfornewawardsofperformance-basedcompensationthatareinexcessofthe$1milliondeductibilitycap,theCompensationCommitteecontinuestoviewpayforperformanceasanimportantpartofourexecutivecompensationpolicy.Certain covenants

Underthetermsoftheiremploymentarrangements,theExecutiveOfficersaresubjecttocustomarynon-competition,non-solicitation,non-disparagementandconfidentialitycovenants(or,inthecaseofMs.LipcamanandMr.Gebhardt,aresubjecttogardenleaveprovisionsthatwouldhaveasimilareffect).Thenon-competitionandnon-solicitationcovenantsforexecutivesremaininforcethroughthefirstorsecondanniversaryofthedateofterminationoftheexecutive'semploymentwiththeCompanydependingontheexecutive'sposition.

Clawback Policy OnNovember19,2019,theCompensationCommitteeadoptedandtheBoardratifiedaformalclawbackpolicythatallowsVishaytorecovererroneouslyawardedcompensationfromexecutiveofficersincaseofarestatementofVishay'sfinancialstatements.

TheclawbackpolicyisadministeredbytheCompensationCommittee,whichhasthesolediscretioninmakingalldeterminationsundertheclawbackpolicy.

Executive Compensation Advisory Vote and Its Frequency OurBoardincludedanadvisorystockholdervoteonexecutivecompensation(commonlyreferredtoas"say-on-pay")inits2019proxymaterials.TheCompensationCommitteeappreciatesthatover98%ofthevotescastonsuchproposalapprovedtheexecutivecompensationdiscussedanddisclosedintheCompensationDiscussionandAnalysis,thecompensationtables,andthenarrativeexecutivecompensationdisclosurecontainedinour2019ProxyStatement.OurCompensationCommitteeinterpretstheresultsofthisvoteasanendorsementofexistingprogramsandtherefore,wehavenotmadematerialchangestoourapproachtoexecutiveofficercompensationbasedonsuchvote.

Inaddition,ourBoardincludedinits2019proxymaterialsanadvisorystockholdervoteonhowfrequentlyitshouldconducta“say-on-pay”vote.InlinewiththeBoard’srecommendation,amajorityofthesharesvotingrecommendedthattheCompanyconducta“say-on-pay”voteannually.Therefore,ourBoardofDirectorsisagainthisyearsubmittingforanon-bindingstockholdervoteourexecutivecompensationasdescribedinthisproxystatement.


2020 Proxy Statement | Report of the Compensation Committee Table of Contents

REPORT OF THE COMPENSATION COMMITTEE

ToOurStockholders:

WehavereviewedanddiscussedwithmanagementtheCompensationDiscussionandAnalysis.Basedonthatreviewanddiscussion,wehaverecommendedtotheBoardofDirectorsandtheBoardhasapproved,thattheCompensationDiscussionandAnalysisbeincludedinthisproxystatementandincorporatedbyreferenceintotheCompany'sAnnualReportonForm10-KfortheyearendedDecember31,2019.

Respectfullysubmitted,

TheCompensationCommitteeoftheBoardofDirectors

TimothyV.Talbert,ChairmanDr.AbrahamLudomirskiThomasC.Wertheimer

Notwithstanding anything to the contrary set forth in any of our previous or future filings under the Securities Act or theExchange Act that might incorporate this proxy statement or future filings with the SEC, in whole or in part, the abovereport shall not be deemed to be "soliciting material" or "filed" with the SEC and shall not be deemed to be incorporatedby reference into any such filing.


2020 Proxy Statement | Compensation Tables Table of Contents

COMPENSATION TABLES

Summary Compensation Table Thefollowingtablesummarizesinformationregardingcompensationearned,heldby,orpaidtoourprincipalexecutiveofficer("PEO"),principalfinancialofficer("PFO"),andourthreemostlyhighlycompensatedexecutiveofficersotherthanthePEOandPFO.Theinformationincludedinthetableshouldbereadinconjunctionwiththefootnoteswhichfollow,thedescriptionsoftheemploymentarrangementswitheachExecutiveOfficerdescribedin"CompensationDiscussionandAnalysis,"andtheadditionaltablesonthepageswhichfollow.TheCompensationCommitteeoftheBoardofDirectorsestablishesandapprovesallcompensationforallExecutiveOfficersandadministersVishay'sincentiveandequity-basedcompensationplan.BecausetheCompensationCommitteedeterminescompensationforallExecutiveOfficers,the"CompensationDiscussionandAnalysis"sectiondiscussescompensationofalleightofourExecutiveOfficers.ThecompensationtableswhichfollowincludeonlythefiveexecutivesrequiredtobedisclosedinthismannerbySECrules("NamedExecutiveOfficers").

SALARY

BONUS

STOCK

AWARDS

NON-

EQUITYINCENTIVE

PLANCOMP.

CHANGE

INPENSION

VALUEAND NON-QUALIFIEDDEFERRED

COMP.EARNINGS

ALL

OTHERCOMP.

(1) (2) (3)(4)(5) (6) (7)(8)(9) (10) TOTAL NAME AND PRINCPALPOSITION YEAR ($) ($) ($) ($) ($) ($) ($)

(a) (b) (c) (d) (e) (g) (h) (i) (j) MarcZandman 2019 $ 1,051,010$ -$ 1,606,030 $ 1,830,950 $ 913,201 $487,271 $5,888,462ExecutiveChairmanoftheBoard, 2018 1,003,442 - 1,211,224 3,010,325 45,799 506,391 5,777,181

ChiefBusinessDevelopmentOfficer,

2017 961,769 - 1,162,265 2,243,280 933,944 480,333 5,781,591

andPresident-VishayIsraelLtd.

Dr.GeraldPaul 2019 1,164,144 - 2,230,717 2,288,688 185,738 204,842 6,074,129PresidentandChiefExecutiveOfficer

2018 1,180,448 - 1,597,657 3,541,342 340,855 445,810 7,106,112

2017 1,081,890 - 1,609,815 2,804,100 647,689 191,553 6,335,047 LoriLipcaman 2019 487,401 - 239,165 370,295 209,758 27,151 1,333,770ExecutiveVicePresidentand 2018 494,227 - 166,455 471,415 154,613 28,568 1,315,278

ChiefFinancialOfficer 2017 452,963 - 170,658 357,997 297,239 27,069 1,305,926 JohanVandoorn 2019 547,395 - 268,600 389,463 - 155,289 1,360,747ExecutiveVicePresidentand 2018 555,061 - 186,948 555,061 - 152,017 1,449,087

ChiefTechnicalOfficer 2017 508,718 - 191,672 457,349 - 135,561 1,293,300 ClarenceTse 2019 592,385 - 212,056 239,476 - 147,406 1,191,323

ExecutiveVicePresident 2018 584,278 - 153,257 505,334 15,829 136,593 1,395,291

BusinessHeadSemiconductors 2017 556,043 - 146,214 412,308 - 117,248 1,231,813



(1) Column(c)reflectsbasesalaryearnedduringtherespectiveyears.TheemploymentagreementsforDr.Paul,Mr.

Vandoorn, and Ms. Lipcaman specify that their salaries be denominated and paid in euro. The employmentagreement for Mr. Zandman provides for his salary to be denominated and paid in Israeli shekels. TheemploymentagreementforMr.TsespecifiesforhissalarytobedenominatedandpaidinnewTaiwandollars.TheamountspresentedhavebeenconvertedintoU.S.dollarsattheweightedaverageexchangeratefortheyear.

(2) Column(d)reflectsbonusesearnedbyourNamedExecutiveOfficersduringtherespectiveyears. (3) Column(e)representsthegrant-datefairvalueofRSUsandPBRSUsgrantedintherespectiveyearsdetermined

in accordance with FASB ASC Topic 718 in the year of grant and the assumptions set forth in Note 12 of ourconsolidatedfinancialstatementsincludedinourForm10-KfiledonFebruary14,2020.Thegrant-datefairvalueisrecognizedforaccountingpurposesovertheperiodtherecipientisrequiredtoprovideserviceinexchangeforthe respective awards. At the grant date, the Company expected all performance-based vesting criteria to beachieved. Accordingly, Column (e) includes the grant-date fair value for the PBRSUs. The common stockunderlying the RSUand PBRSUawards is not received until the awards are vested (in somecases, subject tosatisfactionofperformanceconditions)andaccordingly,therecanbenoassurancethatthegrant-datefairvalueoftheseawardswilleverberealized.

(4) Theperformance-basedcriteriaforthe2017PBRSUawardsweremet. (5) Column (e) also includes the grant-date fair value of 5,000 phantom stock units awarded annually to certain

NamedExecutiveOfficerspursuanttothetermsoftheiremploymentagreements.Thecommonstockunderlyingtheseawardsisnotreceiveduntilterminationofemployment,andaccordingly,therecanbenoassurancethatthegrant-datefairvalueoftheseawardswilleverberealized.

(6) Column (g) reflects non-equity incentive compensation earned by our executive officers during the respective

years,translatedattheweightedaverageexchangeratefortheyear.Theincentivecompensationfor2018forDr.Paul and Messrs. Zandman and Vandoorn was limited by the caps set by the Compensation Committee andincludedintheirrespectiveemploymentagreements.

(7) Column(h)reflectsthechangeintheactuarialpresentvalueoftheNamedExecutiveOfficer'spensionandother

postemploymentbenefitsunderrespectivedefinedbenefitretirementplans,fromtheplanmeasurementdateusedinpreparingtheprioryearconsolidatedfinancialstatementstotheplanmeasurementdateusedinpreparingthecurrent year consolidated financial statements, determined using the same interest rate, mortality, and otheractuarialassumptionsusedinourconsolidatedfinancialstatementsassetforthinNote11thereof.Mr.Vandoorndoesnotparticipateinanydefinedbenefitretirementplans.

(8) The Company includes in these pension and post employment benefits certain termination benefits for Dr. Paul

andMr.ZandmanwhicharepayableatnormalretirementifsuchexecutivesareemployedbytheCompanyatage62.See"PensionandRetirementBenefits"beginningonpage50.

(9) Dr. Paul and Mr. Zandman also receive annual contributions to our non-qualified deferred compensation plan

underwhichamountsdeferredarecreditedwithearningsbasedontheperformanceofnotionalinvestmentoptionsavailableundertheplan.Noportionoftheearningscreditedduring2019,2018,or2017was"abovemarket"or"preferential." Consequently, no deferred compensation plan earnings are included in the amounts reported incolumn(h). Seethe "Non-qualified Deferred Compensation" table for more information on the benefits payableunderthenon-qualifieddeferredcompensationplan.



(10) AllothercompensationincludesamountsdepositedonbehalfofeachNamedExecutiveOfficerintoVishay'snon-

qualifieddeferredcompensationplanpursuanttotheemploymentagreementswitheachExecutiveOfficer,Jubileeserviceawards,personaluseofcompanycar,CompanycontributionstodefinedcontributionplansoutsideoftheUnitedStates, benefitsgenerallyavailabletoemployeesinIsrael, medical benefitsinexcessofnormalgrouporgovernment health insurance in country of residence, additional units of phantom stock granted as a result ofdividendsdeclaredbytheCompany,andotherperquisites,asdescribedbelow(asteriskdenotesamountspaidinforeigncurrencyandtranslatedataverageexchangeratesfortheyear):

2019 2018 2017 MarcZandman

$ 100,000 $ 100,000 $ 100,000Companycontributiontonon-qualifieddeferredcompensationplan

45,650 45,550 45,880 PersonaluseofCompanycar*

246,149 260,946 243,893StatutoryIsraeliemploymentbenefits*

61,963 72,838 70,738

Medicalandprescriptiondruginsurancepremiums(BlueCross/BlueShield)

33,509 27,057 19,822

Phantomstock-dividendequivalents

$ 487,271 $ 506,391 $ 480,333 Total Dr.GeraldPaul

$ $100,000 $ 100,000 $ 100,000Companycontributiontonon-qualifieddeferredcompensationplan

43,438 44,788 42,553 PersonaluseofCompanycar* 27,895 28,035 29,178 Company-paidmedicalcosts* - 245,930 - Jubileeserviceaward*

33,509 27,057 19,822Phantomstock-dividendequivalents

$ 204,842 $ 445,810 $ 191,553 Total LoriLipcaman $ 14,212 $ 14,988 $ 14,285 PersonaluseofCompanycar* 12,939 13,580 12,784 Company-paidmedicalcosts* $ 27,151 $ 28,568 $ 27,069 Total JohanVandoorn $ 8,843 $ 4,694 $ 4,781 PersonaluseofCompanycar*

142,215 142,867 126,541

Contributiontodefinedcontributionretirementplanandrelatedlifeinsurance*

199 204 186 Company-paidmedicalcosts* 4,032 4,252 4,053 Allowances* $ 155,289 $ 152,017 $ 135,561 Total ClarenceTse $ 60,614 $ 61,319 $ 49,853 PersonaluseofCompanycar*

59,555 38,323 39,042

Contributiontodefinedcontributionretirementplanandrelatedlifeinsurance*

14,676 6,870 4,643 Company-paidmedicalcosts* 9,852 10,298 14,450 Childrentuitionsubsidy* 696 9,618 9,260 Travelexpenses* 2,013 10,165 - Accountingservices* $ 147,406 $ 136,593 $ 117,248 Total



2019 Grants of Plan Based Awards

ThefollowingtableprovidesinformationwithregardtoplanbasedawardsgrantedtoeachNamedExecutiveOfficerduring2019.TheinformationincludedinthetableshouldbereadinconjunctionwiththefootnoteswhichfollowandthedescriptionofVishay's2007Programdescribedin"CompensationDiscussionandAnalysis."

ESTIMATED FUTURE PAYOUTSUNDER NON-EQUITY INCENTIVE

PLAN AWARDS

EQUITY INCENTIVE PLANAWARDS: NUMBER OF SHARES

OF STOCK OR UNITS

ALL OTHERSTOCK

AWARDS:NUMBER OFSHARES OFSTOCK OR

UNITS

GRANTDATEFAIR

VALUE OFSTOCK

AWARDS

(1) (2) (3) (4) GRANT THRESHOLD TARGET MAXIMUMTHRESHOLD TARGET MAXIMUM NAME DATE ($) ($) ($) (#) (#) (#) (#) ($)MarcZandman

1/1/2019 - 3,060,0003,153,030 - - - 5,000 88,600

2/28/2019 - - - 27,162 54,323 54,323 18,108 1,517,430 Dr.GeraldPaul

1/1/2019 - 3,492,4323,492,432 - - - 5,000 88,600

2/28/2019 - - - 38,344 76,687 76,687 25,562 2,142,117 LoriLipcaman

1/1/2019 - 487,401 487,401 - - - - -

2/28/2019 - - - 4,281 8,562 8,562 2,854 239,165 JohanVandoorn

1/1/2019 - 547,395 547,395 - - - - -

2/28/2019 - - - 4,808 9,616 9,616 3,205 268,600 ClarenceTse

1/1/2019 - 592,385 592,385 - - - - -

2/28/2019 - - - 3,796 7,592 7,592 2,530 212,056

(1) Amounts in these columns represent the threshold, target and maximum bonus levels for each NamedExecutiveOfficer.

(2) Included in this columns are PBRSUs granted pursuant to the respective employment agreements of the

NamedExecutiveOfficers.ThenumberofRSUsshowninthe"threshold"columnarethosethatwouldvestif80%oftheapplicableperformancecriteriaareachieved.

(3) IncludedinthiscolumnareawardsofphantomstockgrantedtoDr.PaulandMr.Zandmanandannualawards

ofRSUsgrantedpursuanttotherespectiveemploymentagreementsoftheNamedExecutiveOfficers. (4) Amountsinthiscolumninclude:

•thegrant-datefairvalueoftheRSUs.TheamountiscalculatedusingtheclosingpriceofVishaystockonthe date of grant of $21.92 adjusted for the present value of expected dividends. The common stockunderlying these awards is not received until the awards are vested (in some cases, subject to thesatisfactionofperformanceconditions)andaccordingly,therecanbenoassurancethatthegrant-datefairvalueoftheseawardswilleverberealized.

•the grant-date fair value of 5,000 phantom stock units awarded annually to certain executive officers

pursuanttothetermsoftheiremploymentagreements.TheamountiscalculatedusingtheclosingpriceofVishaystockonthegrantdateof$17.72.Thecommonstockunderlyingtheseawardsisnotreceiveduntilterminationof employment, andaccordingly, therecanbenoassurancethat thegrant-date fair valueoftheseawardswilleverberealized.



Outstanding Equity Awards at Fiscal Year EndThefollowingtableprovidesinformationregardingunvestedstockawards(RSUs)heldbyourNamedExecutiveOfficersasofDecember31,2019. STOCK AWARDS

NAME

GRANT DATE(1)(2)

NUMBER OFSHARES OR UNITS

OF STOCK THATHAVE NOT VESTED

(#)

MARKETVALUE OF

SHARES OFUNITS OF

STOCK THATHAVE NOT

VESTED($)(3)

EQUITY INCENTIVEPLAN AWARDS:

NUMBER OFUNEARNED

SHARES, UNITSOR OTHER RIGHTS

THAT HAVE NOTVESTED

(#)

EQUITY INCENTIVEPLAN AWARDS:

MARKET ORPAYOUT VALUE OF

UNEARNEDSHARES, UNITS OR

OTHER RIGHTSTHAT HAVE NOT

VESTED($)(3)

MarcZandman 2/23/2017 17,413 370,723 52,240 1,112,190 3/6/2018 15,064 320,713 45,191 962,116 2/28/2019 18,108 385,519 54,323 1,156,537Total 50,585 1,076,955 151,754 3,230,843 Dr.GeraldPaul 2/23/2017 24,622 524,202 73,868 1,572,650 3/6/2018 20,334 432,911 61,003 1,298,754 2/28/2019 25,562 544,215 76,687 1,632,666Total 70,518 1,501,328 211,558 4,504,070 LoriLipcaman 2/23/2017 2,749 58,526 8,247 175,579 3/6/2018 2,270 48,328 6,811 145,006 2/28/2019 2,854 60,762 8,562 182,285Total 7,873 167,616 23,620 502,870 JohanVandoorn 2/23/2017 3,087 65,722 9,263 197,209 3/6/2018 2,550 54,290 7,649 162,847 2/28/2019 3,205 68,234 9,616 204,725Total 8,842 188,246 26,528 564,781 ClarenceTse 2/23/2017 2,355 50,138 7,066 150,435 3/6/2018 2,090 44,496 6,271 133,510 2/28/2019 2,530 53,864 7,592 161,634Total 6,975 148,498 20,929 445,579

(1) RSUsgrantedFebruary23,2017cliff-vestedonJanuary1,2020. (2) 75%of the RSUs granted in each of 2017, 2018, and 2019 include performance-based vesting criteria. These

performance-basedRSUsareshowninthecolumnentitled"EquityIncentivePlanAwards:NumberofUnearnedShares,UnitsorOtherRightsThatHaveNotVested."

(3) BasedontheclosingpriceofVishaycommonstockonDecember31,2019of$21.29.



2019 Stock Vested

ThefollowingtableprovidesinformationwithregardtoamountspaidtoorreceivedbyourNamedExecutiveOfficersduring2019asaresultofvestingofrestrictedstockunits.

STOCK AWARDS

NUMBER OF SHARES

ACQUIRED ON VESTING VALUE REALIZED ON

VESTING NAME (#) ($) (a) (d) (e) MarcZandman 89,833 1,869,426Dr.GeraldPaul 128,795 2,680,223LoriLipcaman 14,380 299,248JohanVandoorn 15,122 314,691ThetableaboveexcludesRSUswithavestingdateofJanuary1,2020.

Pension and Retirement Benefits

Vishaymaintainsvariousretirementbenefitplansandarrangements.

Vishay'sGermansubsidiarieshaveanoncontributorydefinedbenefitplangovernedbyGermanlawcoveringitsmanagementandexecutiveemployees.Dr.PaulandMs.Lipcamanparticipateinthisplan.Dr.PaulalsohasanindividualcontractualpensionarrangementwithVishayEuropeGmbHthatwillpayanannualbenefituponretirementatage65basedonhisyearsofservice(upto25)andaveragesalaryandbonusinthethreehighestofhisfinaltenyearsofemployment("finalaveragecompensation").Theretirementbenefitwillnotexceed40%ofsuchfinalaveragecompensation,andtheindividualcontractualpensionamountwillbereducedbypensionamountspayableunderthenoncontributorydefinedbenefitplanofVishayEuropeGmbHanditssubsidiaries.Dr.Paulhasvoluntarilyagreedtoamaximumlimitof€180,000peryearwithrespectofsuchfinalaveragecompensation.TheCompensationCommitteemay,however,initssolediscretion,electtoincreasethe€180,000limitationtoreflectDr.Paul'sactualsalaryandbonus,totakeintoaccountcostoflivingadjustments,orasitmayotherwisedeemappropriate.In2010,Dr.Paul'sandMr.Zandman'semploymentarrangementsweremodifiedsuchthatuponanytermination(otherthanforcause)afterattainingage62,theexecutivewouldbeentitledtothesamepaymentsandbenefitshewouldhavereceivedifhisrespectiveemploymentwasterminatedbyVishaywithoutcauseorbytherespectiveexecutiveforgoodreason.ThesemodificationswereincludedinformalamendmentssignedonAugust8,2010.TheexpenseassociatedwiththemodificationstotheemploymentarrangementsofDr.PaulandMr.Zandmaneffectivelyrepresentsadefinedretirementbenefitthatwillberecognizedforfinancialaccountingpurposesovertheremainingserviceperiodoftheindividuals.Messrs.VandoornandTsedonotparticipateinanydefinedbenefitretirementplans.



2019 Pension and Retirement Benefits Table

Thefollowingtableprovidesinformationregardingthepresentvalueofbenefitsaccruedundertheseretirementbenefitplansandarrangements:

NAME(a)

PLAN NAME(b)

NUMBEROF YEARSCREDITEDSERVICE

(#)(c)

PRESENT VALUEOF

ACCUMULATEDBENEFIT (1)

($)(d)

PAYMENTS DURINGLAST FISCAL YEAR

($)(e)

MarcZandman Individualcontractualpost-employmentmedicalarrangement

n/a 235,536 -

Individualcontractualterminationbenefits(3)

n/a 7,197,233 -

Dr.GeraldPaul(2) VishayEuropeGmbHPensionPlanandindividualcontractualarrangement

n/a 3,009,655 -

Individualcontractualpost-employmentmedicalarrangement

n/a 192,790 -

Individualcontractualterminationbenefits(3)

n/a 8,164,072 -

LoriLipcaman(2) VishayEuropeGmbHPensionPlan 30 1,743,619 -

(1) These amounts have been calculated using interest rate, mortality, and other actuarial assumptions consistentwiththoseusedforfinancialreportingpurposessetforthinNote11toVishay'sconsolidatedfinancialstatementsincludedinour2019AnnualReportonForm10-K.

(2) Dr.Paul'sandMs.Lipcaman'sbenefitsaredenominatedineuro.TheU.S.dollaramountsshowninthetableis

basedontheweightedaverageconversionratefor2019. (3) Theseterminationbenefitsarepayableuponnormalretirementandaccordinglythepresentvalueisincludedin

thistable.See"PotentialPaymentsUponTerminationoraChangeinControl."Non-qualified Deferred CompensationTheExecutiveOfficersparticipateinanon-qualifieddeferredcompensationplan,whichisavailabletoallemployeeswhomeetcertaincriteriaundertheInternalRevenueCode.CertainexecutiveofficersareentitledundertheirrespectiveemploymentagreementstoannualcontributionstothisplanbyVishay,lesscertainapplicabletaxes.TheExecutiveOfficersarealsoeligibletoelecttodeferadditionalamountsofcompensation,subjecttocertainlimitations.

AmountscontributedtotheseplanspriortoJanuary1,2005weredeemeddeferreduntilretirementorterminationofemployment.EffectiveJanuary1,2005,allemployeesthatparticipateintheplanweregiventheoptiontochooseshorterdeferralperiodsforalloraportionoftheirdeferredcompensation.AlloftheExecutiveOfficershaveelectedtodeferallamountsofcompensationuntilretirementorterminationofemployment,atwhichtime,theamountswouldbepaidinalumpsum.Totheextentrequiredtoavoidtaxpenalties,thedeferredamountsarenotpaiduntilsixmonthsaftertheterminationofemployment.

Whiledeferred,amountsarecreditedwith"earnings"basedontheperformanceofnotionalinvestmentoptionsavailableundertheplan.



2019 Non-qualified Deferred Compensation Table

Thefollowingtablesetsforthinformationrelatingtotheactivityinthenon-qualifieddeferredcompensationplanaccountsoftheExecutiveOfficersduring2019andtheaggregatebalanceoftheaccountsasofDecember31,2019:

NAME(a)

EXECUTIVECONTRIBUTIONSIN LAST FISCAL

YEAR($)(b)

REGISTRANTCONTRIBUTIONSIN LAST FISCAL

YEAR(1)($)(c)

AGGREGATEEARNINGS

IN LASTFISCALYEAR

($)(d)

AGGREGATEWITHDRAWALS/DISTRIBUTIONS

($)(e)

AGGREGATEBALANCEAT LASTFISCAL

YEAR END($)(f)

MarcZandman

- 100,000 564,779 - 2,958,803

Dr.GeraldPaul

- 100,000 29,882 - 1,719,447

(1) Theseamountsareincludedincolumn(i) ofthe"SummaryCompensationTable"asacomponentof"All Other

Compensation." No portion of the earnings credited during 2019 was "above market" or "preferential."Accordingly, no amounts related to earnings on deferred compensation have been included in the "SummaryCompensationTable."

Potential Payments Upon Termination or a Change in Control

OuremploymentagreementswithourExecutiveOfficersprovideincrementalcompensationintheeventoftermination,asdescribedbelow.Generally,VishaydoesnotprovideanyincrementalseveranceorotherbenefitsspecificallyuponachangeincontrolotherthanacceleratedvestingofRSUsandPBRSUs.Terminationofemploymentalsoimpactsphantomstockunitsandnon-qualifieddeferredcompensationbalances. Mr. Zandman and Dr. Paul

TheexecutiveemploymentcontractsofDr.PaulandMr.Zandmancontainseveranceprovisionsprovidinggenerallyforthreeyearsofcompensationinthecaseofaterminationwithoutcause,avoluntaryterminationbytheexecutivefor"goodreason"(asdefinedintheemploymentagreement),oranytermination(otherthanforcause)afterattainingage62.AsDr.Paulhasalreadyattainedage62,anyvoluntaryterminationofhisemploymentwouldresultinhisreceivingtheseverancedescribedbelow.Specifically,severanceitemsinclude:• salarycontinuationforthreeyears,payableoverthreeyears; • 5,000sharesof commonstockannually for threeyears. Becausethesesharesaregrantedafter terminationof

employment,actualshares–ratherthanphantomstockunits–aregranted; • bonusfortheyearoftermination; • paymentofanyearnedbutunpaidbonusforthepreviouslycompletedyear; • $1,500,000lumpsumcashpayment. Thispaymentreplacestheannual deferredcompensationcredits andthe

annualbonusforthe3-yearseveranceperiod; • lifetime continuation of executive's life insurance benefit. In lieu of insurance, the Company has assumed this

obligation;

• theimmediatevestingoftheexecutive'soutstandingRSUsandtheoutstandingPBRSUsshallvestontheirnormal

vestingdatetotheextentapplicableperformancecriteriaarerealized(providedthatuponachangeincontrol,theoutstandingPBRSUswouldimmediatelyvestasiftheperformancecriteriahadbeensatisfied);and

• continuationofexecutive'smedicalbenefitforamaximumofthreeyearsiftheterminationoccursbeforeattaining

age62andlifetimecontinuationupto$15,000annualpremiumvalueiftheterminationoccursafterattainingage62.

Inaddition,Dr.Paulwillreceivepaymentofhisindividualcontractualpensionintheeventofaterminationforanyreason,aswellasaccruedbenefitsundertheVishayEuropeGmbHpensionplan.



Other Executives

TheemploymentagreementsofMs.LipcamanandMessrs.VandoornandTseprovidethatuponaterminationwithoutcauseorresignationwith"goodreason"(asdefinedintherespectiveagreements),andsubjecttotheexecutionofageneralrelease,theexecutiveswillbeentitledtoreceive:• continuationofbasesalaryfor36months; • paymentofanyearnedbutunpaidbonusforthepreviouslycompletedyear;and • paymentofapro-ratabonusfortheyearoftermination,basedonthatyear'sactualperformance.

Uponaterminationwithoutcauseorresignationwithgoodreasonwithin16monthsfollowingachangeincontrol,the36monthsofbasesalarycontinuationwillbepaidasalumpsumpayment.Inaddition,duringthe12monthperiodbeginning4monthsfollowingachangeincontrol,theseexecutivesmayvoluntarilyresignandreceivetheseverancebenefitsdescribedabove(includingthelumpsumpaymentofthesalarycontinuationelement)providedthatinMs.Lipcaman'scase,thenoticeandpaymenttimingareslightlydifferentduetolocallawconsiderations.

Intheeventofterminationduetodeathordisability,theexecutiveortheirestatewillreceivepaymentofanyearnedbutunpaidbonusforthepreviouslycompletedyear;andpaymentofapro-ratabonusfortheyearoftermination,basedonthatyear'sactualperformance.

Regardingequityawards,time-basedvestingconditionswillbedeemedsatisfied,andperformance-basedvestingconditionswillremainineffect,upontheexecutive'sdeath,disability,terminationwithoutcause,resignationwith"goodreason;"orresignationforanyreasonfollowingtheattainmentofage62(exceptwherecauseexists).Equityawardsimmediatelyvestuponachangeincontrol.



Summary of Potential Payments Upon Termination or a Change in ControlThefollowingtablesetsforththecompensationthatwouldhavebeenreceivedbyeachoftheCompany'sexecutiveofficershadtheybeenterminatedwithoutcauseorfor"goodreason"asofDecember31,2019.Asdescribedabove,theamountoftheseverancepaymentstoMs.LipcamanandMessrs.VandoornandTsearethesameuponterminationwithoutcauseorresignationwith"goodreason"anduponterminationfollowingachangeofcontrol,thoughthetimingofsuchpaymentsdiffer.

SALARYCONT.

(1) BONUS

(2)

STOCKGRANTS

(3)(4)

LUMP SUMTERMINATION

PAYMENT PENSION

(5)

MEDICALBENEFIT

(5)

NON-QUALIFIEDDEFERRED

COMPENSATION(6)

MarcZandman $ 3,153,030$1,830,950$4,627,148$ 1,500,000$ -$ 235,536$ 2,958,803Dr.GeraldPaul 3,492,432 2,288,688 6,324,748 1,500,000 3,009,655 192,790 1,719,447LoriLipcaman 1,462,203 - 670,486 - 1,743,619 - -JohanVandoorn 1,642,185 - 753,027 - - - -ClarenceTse 1,777,155 - 594,076 - - - -(1) Equals3timesU.S.dollarvalueofthe2019salary. (2) Consistsofnon-equityincentiveplancompensationfor2019asreflectedinthe"SummaryCompensationTable." (3) ForMr.ZandmanandDr.GeraldPaul,includes15,000shares,multipliedby$21.29,whichwastheclosingprice

ofVishay'scommonstockonDecember31,2019.Thesharesaretobepaidoutoverthreeyears. (4) Includes the value of RSUs outstanding as of December 31, 2019, including PBRSUs, and assumes all

performancecriteriawillbemet. (5) Presentvalueofaccumulatedbenefitreflectedinthe"PensionBenefits"table,paidannuallyuntildeath,exclusive

ofcontractualterminationpaymentsforDr.PaulandMr.Zandman. (6) Aggregatebalanceatyearendasreflectedinthe"Non-qualifiedDeferredCompensation"table.

ThetableabovedoesnotincludetheamountsthatwouldbereceivedforthereimbursementofexcisetaxesforMr.ZandmanandDr.Paul,asfurtherdescribedinthesection"GoldenParachuteGross-up"below.TheCompanyself-insuresitsobligationtoprovidecontinuinglifeinsurancebenefitstoMr.ZandmanandDr.Paul.Pursuanttotheiremploymentcontracts,Mr.ZandmanandDr.Paulhavelifeinsurancebenefitsequaltothree-timesbasesalarywhileemployed,andone-timesbasesalaryuponretirement.TheamountstobepaidbytheCompanyintheeventofterminationbyreasonofdeathwouldincreasebythree-timesthebasesalaryofMr.ZandmanandDr.Paul,respectively.

Golden Parachute Gross-up

Section4999oftheInternalRevenueCodeimposesa20%excisetaxoncertaincompensationpaiduponachangeincontrolifthecompensationexceedsthreetimestheexecutive'saverageannualcompensation.Vishaydoesnotprovideanyseveranceorothernon-equitybenefitsspecificallyuponachangeincontrol,butundertheInternalRevenueServiceinterpretationsoftheSection4999rules,ifaterminationofemploymentoccurredinconnectionwithachangeincontrol,theseverance,othercompensation,orbenefitspayablecouldbesubjecttotheexcisetaxdependinguponseveralfactors(includingtheamountofseverance,theaveragecompensationoftheaffectedExecutiveOfficer,andcertainothercompensationamountsthatvestorarepaidinconnectionwithachangeofcontrol).TheemploymentagreementsofMr.ZandmanandDr.PaulprovideforVishaytoreimbursesuchExecutiveOfficersforanyexcisetax.The

CompensationCommitteebelievedin2004,whensuchemploymentagreementswereentered,thatitwouldbeunfairfortheexecutivetobetaxedinsuchacasebecausethepaymentsarenotintendedtobemadeexclusivelywithrespecttoachangeincontrol.Currentpracticeamongourpeergroupcompaniesistonotprovidesuchbenefits.Accordingly,theemploymentagreementsforMs.LipcamanandMessrs.Vandoorn,Valletta,Tse,Smejkal,andGebhardtdonotprovidesuchaprovision.

IfachangeincontrolhadoccurredonDecember31,2019andifMr.ZandmanandDr.Paulhadbeenterminatedonthatdate,weestimatethattheCompanywouldberequiredtopayapproximately$5.6millionand$6.9million,respectively,toinsulateMr.ZandmanandDr.Paulfromtheeffectsoftheexcisetax.Intheeventofanactualtermination,theactualamountsthattheCompanywouldberequiredtopaywouldbebasedonspecificfactsandcircumstancesatthetime.



Impact on Non-qualified Deferred Compensation Balances

Asdescribedabove,certainExecutiveOfficersparticipateinanon-qualifieddeferredcompensationplan.AlloftheExecutiveOfficershaveelectedtodefersuchcompensationuntilretirementorterminationofemployment,atwhichtimetheamountswouldbepaidinalumpsum. Impact on RSUs

WithrespecttoourExecutiveOfficers,time-basedvestingconditionswillbedeemedsatisfied,andperformance-basedvestingconditionswillremainineffect,upontheexecutive'sdeath,disability,terminationwithoutcause,resignationwith"goodreason,"orresignationforanyreasonfollowingtheattainmentofage62(exceptwherecauseexists).Intheeventofvoluntaryterminationbytheexecutivebeforeage62(without"goodreason")orterminationforcause,theexecutive'soutstandingRSUs(includingPBRSUs)willbeforfeited.AtDecember31,2019,unvestedtime-vestedRSUsandPBRSUswereasfollows:

NAME

UNVESTEDTIME-VESTED

RSUs UNVESTED

PBRSUs MarcZandman 50,585 151,754Dr.GeraldPaul 70,518 211,558LoriLipcaman 7,873 23,620JohanVandoorn 8,842 26,528ClarenceTse 6,975 20,929Thetableaboveexcludesthe2020annualgrantforthecurrentExecutiveOfficersandincludestheRSUsthatvestedJanuary1,2020.Impact on Phantom Stock Units

Certainexecutiveofficersreceiveanannualgrantof5,000phantomstockunitspursuanttotheirrespectiveemploymentagreements.Additionally,thoseexecutivesreceivedividendequivalentsintheformofadditionalphantomstockunitseachtimetheCompanypaysadividendonitscommonstock.Uponterminationofemployment,eachexecutivewillreceiveoneshareofVishaycommonstockforeachphantomstockunitheld.

ThetablebelowshowsthetotalphantomstockunitsheldbycertainexecutiveofficersandthevalueoftheunderlyingcommonstockatDecember31,2019:

NAME

PHANTOMSTOCKUNITS VALUE

MarcZandman 91,657 $ 1,951,378Dr.GeraldPaul 91,657 $ 1,951,378Thetableaboveexcludesthe2020annualgranttocertainexecutiveofficersof5,000phantomstockunitsanddividendequivalentsreceivedin2020.



Median Pay Ratio InAugust2015,theSECadoptedRegulationS-KItem402(u),requiringtheCompanytodisclosetheratioofthecompensationofitsCEOtothecompensationofitsmedianemployee,annuallybeginningonJanuary1,2017. Themedianemployeewaschosenin2017fromapopulationofthetotal2017annualsalaryandwagesforallglobalemployees,excludingourCEO,asofDecember1,2017.Allemployeesregardlessoffull-time,part-time,orseasonalstatuswereincludedwithinthesampledpopulationandtherewerenoadjustmentsorassumptionsmadewithrespecttothesalariesandwagesmetricutilized.Annualsalariesandwageswereusedastheidentifyingmetricforallemployeesasitisaconsistentmeasureamongstallemployees.For2019,weusedthesamemedianemployeethatwasidentifiedin2017becausetherehasbeennosignificantchangeinouremployeepopulationoremployeecompensationarrangementsthatwebelievewouldsignificantlyimpactourpayratiodisclosure.Wedeterminedthemedianemployee'stotalcompensationinaccordancewithSECregulations.ThetotalcompensationofthemedianemployeewasthencomparedtothetotalcompensationoftheCEO.For2019,theratiooftheCEOtotalcompensationtothemedianemployeetotalcompensationwas$6,074,129:$19,489or312:1.2020 Executive CompensationBase Salaries TheCompensationCommitteeoftheBoardofDirectorsapprovedthe2020basesalariesforourExecutiveOfficers,asfollows:NAME 2020 BASE SALARY(1)

MarcZandman ILS3,861,423(approximately$1,080,000)(2)Dr.GeraldPaul €1,070,648(approximately$1,200,000)(3)LoriLipcaman €448,256(approximately$500,000)(3)JohanVandoorn €503,432(approximately$570,000)(3)DavidValletta $548,903ClarenceTse TWD18,870,506(approximately$610,000)(4)JoelSmejkal $461,966WernerGebhardt €260,026(approximately$290,000)(3)(1) TheamountsshownhavebeenconvertedintoU.S.dollarsattheweightedaverageexchangeratefor2019.(2) PaidinIsraelishekels.(3) Paidineuro.(4) PaidinTaiwandollars.



Long-term Equity IncentivesTheemploymentagreementsoftheexecutiveofficersprovideforannualgrantsofequity-basedcompensationintheformofRSUs.Theparametersutilizedtodeterminethenumberofunitsgrantedwerethesameasutilizedin2019,asdescribedonpage33,exceptthatMs.Lipcaman'sLTIvaluewasincreasedto60%ofbasesalary.Thegrantsfor2020undertheseequitycompensationarrangementsareasfollows:

NAME TIME-

VESTED RSUs(1) PBRSUs(2) TOTALMarcZandman 15,890 47,669 63,559Dr.GeraldPaul 21,120 63,361 84,481LoriLipcaman 3,537 10,611 14,148JohanVandoorn 2,648 7,945 10,593DavidValletta 2,578 7,735 10,313ClarenceTse 2,149 6,449 8,598JoelSmejkal 1,627 4,883 6,510WernerGebhardt 1,026 3,078 4,104(1) VestonJanuary1,2023.(2) Vestattheconclusionofthethree-yearperiodifcertaindefinedperformancecriteriaarerealized,asdetermined

bytheCompensationCommittee.



Additional Information on Equity Compensation Plans

ThefollowingtableprovidescertaininformationconcerningourequitycompensationplansasofDecember31,2019.

NUMBER OFSHARES OF

COMMONSTOCK TO BEISSUED UPONEXERCISE OF

OUTSTANDINGOPTIONS,

WARRANTSAND RIGHTS

WEIGHTED-AVERAGEEXERCISEPRICE OF

OUTSTANDINGOPTIONS,

WARRANTSAND RIGHTS

NUMBER OFSHARES OF

COMMON STOKREMAINING

AVAILABLE FORFUTURE

ISSUANCEUNDER EQUITY

COMPENSATIONPLANS

(EXCLUDINGSHARES

REFLECTED INTHE FIRSTCOLUMN)

Equity compensation plans approved bystockholders (1)

2007StockIncentiveProgram(2) RestrictedStockUnits(3) 842,000 n/a (2)PhantomStockUnits(4) 183,000 n/a (2)Total2007StockIncentiveProgram 1,025,000 2,580,000 Totalapprovedbystockholders 1,025,000 2,580,000 Equity compensation plans not approved bystockholders - -Total equity compensation plans 1,025,000 2,580,000(1) Additional information about these plans is presented in Note 12 to the Company's consolidated financial

statements,whichareincludedintheCompany'sAnnualReportonForm10-KfortheyearendedDecember31,2019.

(2) The2007Programprovides for the grant of stock options, restricted stock, unrestricted stock, RSUs(including

PBRSUs),andphantomstockunits.Thereforethesharesavailableforfutureissuancearepresentedonlyintotalfortheprogram.

(3) Each RSU entitles the recipient to receive a share of Vishay common stock. Because these awards have no

exerciseprice,thereisnocalculationofweightedaverageexerciseprice. (4) Each phantom stock unit entitles the recipient to receive a share of Vishay common stock at the individual's

termination of employment or any other future date specified in the employment agreement. Because theseawardshavenoexerciseprice,thereisnocalculationoftheweightedaverageexerciseprice.


2020 Proxy Statement | Proposal Three Table of Contents

PROPOSAL THREE

ADVISORY VOTE ON EXECUTIVE COMPENSATION

TheCompanyispresentingthefollowingproposal,whichgivesyouasastockholdertheopportunitytoendorseornotendorseourpayprogramforNamedExecutiveOfficersbyvotingfororagainstthefollowingresolution.Thisresolutionis requiredpursuant to Section14Aof theSecurities ExchangeAct. While our Boardof Directors intendsto carefullyconsider the stockholder vote resulting from the proposal, the final vote will not be binding on us and is advisory innature. Nonetheless, the Compensation Committee and the Board value the opinions of the stockholders and willconsidertheoutcomeofthevotewhenmakingfuturecompensationdecisions.As described in the Compensation Discussion and Analysis section of this proxy statement, we believe that ourexecutivecompensationprogramisdesignedtosupport theCompany's long-termsuccessbyachievingthefollowingobjectives: attracting and retaining talented senior executives, tying executive pay to Company and individualperformance,supportingourannualandlong-termbusinessstrategies,andaligningexecutives'interestswiththoseofthe stockholders. The Compensation Committee continually reviews the compensation program for our NamedExecutiveOfficerstoensuretheyachievethedesiredgoalsofaligningourexecutivecompensationstructurewiththeinterestsofourstockholdersandcurrentmarketpractices.Accordingly,thefollowingresolutionwillbesubmittedforastockholdervoteatthe2020AnnualMeeting:"RESOLVED, that the stockholders approve the compensation of the Company's Named Executive Officers, asdisclosedintheCompensationDiscussionandAnalysis,thecompensationtables,andtherelateddisclosurecontainedintheproxystatementsetforthunderthecaption'CompensationDiscussionandAnalysis'ofthisproxystatement."

The Board of Directors recommends that you vote FOR approval of the compensation of ourNamed Executive Officers as disclosed in the Compensation Discussion and Analysis, the

compensation tables, and the related disclosure contained in the proxy statement.


2020 Proxy Statement | Certain Relationships and Related Transactions Table of Contents

CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

OurBoardhasadoptedawrittenRelatedPartyTransactionPolicythatgovernsthereview,approval,orratificationofrelatedpartytransactions.Relatedpartiesincludeourdirectorsandexecutiveofficers,oranypersonwhoisanimmediatefamilymemberofanydirectororexecutiveofficer;astockholderowninginexcessof5%ofanyclassofoursecurities;andanyentityinwhichanyoftheforegoingisemployedorisapartner,principalorownerofa5%ormoreownershipinterest.AcopyoftheRelatedPartyTransactionPolicyisavailabletostockholdersonourwebsiteandinprintuponrequest.TheNominatingandCorporateGovernanceCommitteehastheresponsibilityofadministeringthepolicy.MembersoftheCommitteemaynotparticipateinanyreview,consideration,orapprovalofanytransactioninvolvingsuchmember,anyfamilymemberofsuchmember,oranyentitywithwhichsuchmemberisaffiliated.AlltransactionswithrelatedpartiesmeetingthedisclosurethresholdsestablishedbytheSECmustbeapprovedorratifiedbytheCommittee.AllnewemploymentrelationshipswithafamilymemberofadirectororexecutiveofficermustbeapprovedbytheCommittee.TheCommitteealsomustundertakeanannualreviewofon-goingemploymentrelationshipsoffamilymembersofanydirectororexecutiveofficer.TheCommitteedetermineswhetherornottoapproveorratifyatransactionoremploymentrelationshipbasedonallrelevantfactsandcircumstances,including:• theextentoftherelatedperson'sinterestinthetransactionandthematerialityofthetransactiontotheCompany; • thebenefitstotheCompanyofthetransaction; • theavailabilityofothersourcesofcomparableproductsorservices;and • thecommercialreasonablenessofthetransaction.

ThefollowingrelatedpartyrelationshipsandtransactionsmeetthethresholdestablishedbytheSECfordisclosureinourannualproxystatement:YitzhakShoshaniisthebrotherofdirectorRutaZandman.Mr.YitzhakShoshaniisVicePresidentandGeneralManagerof,andowns13.3%of,EcomalIsrael,adistributorofourproductsmainlyintheIsraelimarket.In2019,Mr.YitzhakShoshani'scompensation(salaryandcarallowance)wasILS622,313($173,297).Mr.Shoshanialsoreceived$239,985intheformofdividendsduetotheperformanceofEcomalIsraelfor2019.RoyShoshaniisthebrotherofZivShoshani.HeiscurrentlyVicePresidentofVishay'sIntegratedCircuitsDivisionandVicePresidentofR&DSemiconductors.In2019,Mr.RoyShoshani'scompensation(salary,bonus,carandhousingallowances)was$596,581.

Mr.VannesterecentlyretiredfromapositionasChiefFinancialOfficerofLearCorporation,aglobalautomotivetechnologyleaderinseatingandelectricalandelectronicsystems,andacustomerofVishayformanyyears.VishaysalestoLearCorporationanditsconsolidatedsubsidiaries,includingbothdirectsalesandindirectsalesthroughdistributionchannels,totaledapproximately$13.3millionfortheyearendedDecember31,2019,whichrepresentedlessthan0.5%ofVishay’sannualrevenues.TheBoardaffirmativelydeterminedthatMr.Vannesteisindependent,andthattransactionsbetweenVishayandLeardidnotaffectMr.Vanneste’sindependence.


2020 Proxy Statement | Certain Relationships and Related Transactions Table of Contents

Vishay Precision Group, Inc. OnJuly6,2010,Vishaycompletedthespin-offofVishayPrecisionGroup,Inc.(VPG)toitsstockholdersasanindependent,publicly-tradedcompany.PriortoJuly6,2010,VishayPrecisionGroup,Inc.wasawholly-ownedsubsidiaryoftheCompany.Followingthespin-off,VPGandVishayoperateseparately,eachasindependentpubliccompanies.VishayIntertechnologyhasnoownershipinterestinVPG.However,RutaZandman,solelyoronasharedbasiswithMarcZandmanandZivShoshani,allofwhomserveonourBoardofDirectors,controlasignificantportionofthevotingpowerofbothVishayandVPG.Mrs.Zandman,solelyoronasharedbasiswithMarcZandmanandZivShoshani,controlsapproximately42.9%ofthevotingpowerofourcapitalstockandapproximately35%ofthetotalvotingpowerofVPG'scapitalstock.Mr.Zandman,ourExecutiveChairmanoftheBoardandanexecutiveofficerofVishay,servesastheChairmanofVPG.ZivShoshani,CEOofVPGandanephewofMrs.RutaZandman,servesasadirectorofVishay.Inconnectionwiththecompletionofthespin-off,onJuly6,2010,VishayanditssubsidiariesenteredintoseveralagreementswithVPGanditssubsidiariesthatgoverntherelationshipofthepartiesfollowingthespin-off.AmongtheagreementsenteredintowithVPGanditssubsidiarieswereatrademarklicenseagreement,transitionservicesagreement,severalleaseagreements,andsupplyagreements.NoneoftheagreementshavehadorareexpectedtohaveamaterialimpactonVishay'sfinancialposition,resultsofoperations,orliquidity.Someoftheseagreementshaveexpiredandhavenotbeenrenewed.Webelievethatthepricingassociatedwiththeseagreementsareequivalenttoarms-lengthtransactionsbetweenunrelatedparties.However,suchagreementswerenegotiatedwhenVPGwasstillasubsidiaryofVishayIntertechnology.Theseagreementsaredescribedinthesectionentitled"CertainRelationshipsandRelatedPartyTransactions,"whichisincorporatedbyreferenceherein,oftheregistrationstatementonForm10ofVishayPrecisionGroupfiledwiththeSEConJune22,2010.TimothyV.Talbert,adirector,isalsoamemberoftheBoardofDirectorsofVPG.


2020 Proxy Statement | About the Meeting Table of Contents

ABOUT THE MEETING

Why did I receive these materials?

Weholdameetingofstockholdersannually.Thisyear'smeetingwillbeheldonMay19,2020.Therewillbeseveralitemsofbusinessthatmustbevotedonbyourstockholdersatthemeeting,andourBoardofDirectorsisseekingyourproxytovoteontheseitems. Thisproxystatementcontainsimportant informationaboutVishayIntertechnology, Inc.and the matters that will be voted on at the meeting. Please read these materials carefully so that you have theinformationyouneedtomakeinformeddecisions.

What is a proxy?

Aproxyisyourlegaldesignationofanotherpersontovotethesharesofstockthatyouown.Thepersonyoudesignatetovoteyoursharesisalsocalledaproxy.Whenyousubmitaproxy,thepeoplenamedontheproxycardarerequiredtovoteyoursharesattheannualmeetinginthemanneryouhaveinstructed.

What is the record date and why is it important?

TherecorddateisthedateusedbyourBoardofDirectorstodeterminewhichstockholdersareentitledtoreceivenoticeof,andvoteontheitemspresentedat,theannualmeeting.OurBoardestablishedMarch23,2020astherecorddateforthe2020annualmeeting.

What is the difference between "Stockholders of Record" and "Beneficial Owners"?

IfyoursharesareregistereddirectlyinyournamewithVishay'stransferagent,youareconsidered,withrespecttothoseshares,the"StockholderofRecord."Theproxystatement,annualreportandproxycardhavebeensentdirectlytoyoubyVishay.

Ifyoursharesareheldinastockbrokerageaccountorbyabankorothernominee,youareconsideredthe"BeneficialOwner" of shares held in street name. This proxy statement and annual report have been forwarded to you by yourbroker,bank,ornomineewhoisconsidered,withrespecttothoseshares,thestockholderofrecord.Asthebeneficialowner,youhavetherighttodirectyourbroker,bank,ornomineehowtovoteyoursharesbyusingthevotinginstructioncardincludedinthemailingorbyfollowingtheirinstructionsforvoting.Who can attend the meeting?

Allstockholdersasoftherecorddate,ortheirdulyappointedproxies,areinvitedtoattendthemeeting.

Aspart of ourprecautionsregardingthecoronavirusor COVID-19, weareplanningfor thepossibility that theannualmeetingmaybeheldsolelybymeansofremotecommunication.Ifwetakethisstep,wewillannouncethedecisiontodosoinadvance,anddetailsonhowtoparticipatewillbeavailableatVishay.com.

What proposals will I be voting on and how does the Board of Directors recommend I vote?

The Board of Directors' recommendations are set forth together with the description of each proposal in this proxystatement.Insummary,theBoardofDirectorsrecommendsavote:

• FOR ALLthe nominees for election as Class II (terms expiring 2023) and Class III (term expiring 2021)directors(seeProposalOne);

• FORtheratificationofErnst&Youngasourindependentregisteredpublicaccountingfirm(seeProposalTwo);

• FORtheadvisoryapprovalofexecutivecompensation(seeProposalThree);and

Does Vishay have more than one class of stock outstanding?

Wehavetwoclassesofstockoutstanding,commonstockandClassBcommonstock.Ourstockholdersapprovedourtwoclassstructurein1987.Ontherecorddate,therewere132,547,608ofcommonstockand12,097,409sharesofClassBcommonstockoutstandingandentitledtovote.



What are the voting rights of each class of stock?

EachshareofcommonstockwillbeentitledtoonevoteandeachshareofClassBcommonstockwillbeentitledto10voteswithrespecttoeachmattertobevotedonattheannualmeeting.

Alist of stockholdersentitledtovoteat theannual meetingwill beavailableforexaminationbyVishay'sstockholdersduringordinarybusinesshoursforaperiodoftendayspriortotheannualmeetingattheCompany'sheadquarters,63LancasterAvenue,Malvern,PA19355.Astockholderlistwillalsobeavailableforexaminationattheannualmeeting.

What constitutes a quorum?

Aquorumistheminimumnumberofvotesrequiredtobepresentattheannualmeetingtoconductbusiness.AssetforthinVishay'sby-laws,theholdersofamajorityofthevotesrepresentedbytheoutstandingsharesofcommonstockandClassBcommonstock,votingtogetherasasingleclass,presentinpersonorrepresentedbyproxy,willconstituteaquorumforthetransactionofbusinessattheannualmeeting.

How are abstentions and broker non-votes considered?

Shares represented by proxies that are properly marked "ABSTAIN" will be counted for purposes of determining thepresenceofaquorumattheannualmeeting.AbstentionsarenotregardedasvotedsharesandwillhavenoeffectontheelectionofdirectorsunderProposalOneoronthevoteswithrespecttoProposalsTwoandThree.

Brokersholdingsharesfor beneficial ownersinstreet namemust votethosesharesaccordingtospecific instructionsthey receive from the beneficial owners. If instructions are not received, brokers may only vote the shares, in theirdiscretion, on matters for which they are not precluded fromexercising their discretion by the rules of the NewYorkStock Exchange ("NYSE"). Under the NYSE rules, a broker is permitted to vote shares on routine matters, whichinclude ratifying the appointment of independent auditors but do not include the election of directors or stockholderproposals.Accordingly,brokersmayvoteintheirdiscretiononlyonProposalTwo.

Abroker"non-vote"occurswhenabrokerholdingsharesforabeneficialownerdoesnotvoteonaparticularproposalbecausethebrokerdoesnothavediscretionaryvotingpowerwithrespecttothatitemandhasnotreceivedinstructionsfromthebeneficial owner. Broker non-votes will be countedin determining whether there is a quorumat the annualmeetingbutwillnotberegardedasvotedshares.BecausetheCompanyhasapluralityvotingstandardfortheelectionofdirectors,andbecausetheotherproposalwillbedeterminedbyamajorityofvotescast,brokernon-voteswillhavenoeffectontheoutcomeofthevoteonanyoftheproposals.What vote is required to approve each proposal?

Assumingaquorumispresent, thevoterequiredandmethodofcalculationfortheproposalstobeconsideredattheannualmeetingareasfollows:• Proposal One. Theelectionofthreedirectorstoholdofficefortermsofthreeyearsandonedirectortoholdoffice

foratermofoneyear,oruntiltheirsuccessorsaredulyelectedandqualifiedrequiresapluralityofthevotesoftheshares of common stock and Class B common stock, voting together as a single class, present in person orpresentedbyproxyandvotedontheelectionofdirectors.

• Proposal Two. TheratificationoftheappointmentofErnst&YoungLLPasVishay'sindependentregisteredpublic

accountingfirmfortheyearendingDecember31,2020requiresamajorityofthevotesofthesharesofcommonstockandClassBcommonstock,votingtogetherasasingleclass,presentinpersonorrepresentedbyproxyandvotedontheratificationoftheappointmentofErnst&YoungLLP.

• Proposal Three.TheadvisoryapprovalofthecompensationoftheCompany'sexecutiveofficersasdisclosedin

the"CompensationandDiscussionAnalysis"sectionofthisproxystatementrequiresamajorityofthevotesoftheshares of common stock and Class B common stock, voting together as a single class, present in person or

representedbyproxyandvotedontheadvisoryapprovalofthecompensationoftheCompany'sexecutiveofficers.



Who paid to send me the proxy materials?

Thecost of solicitation of proxies will be borne by Vishay. The Board of Directors may use the services of Vishay'sdirectors,officersandotherregularemployeestosolicitproxiespersonallyorbytelephone.Arrangementswillbemadewithbrokeragehousesandothercustodians,nomineesandfiduciariestoforwardsolicitationmaterialtothebeneficialownersof thesharesheldof recordbysuchfiduciaries, andVishaywill reimbursethemforthereasonableexpensesincurredbytheminsodoing.

Vishayisrequiredtomakethesematerialsavailabletoyou.SECrulesrequirethatwemailanoticetoourstockholdersadvising that our proxy statement, annual report to stockholders, electronic proxy card, and related materials areavailableforviewing,freeofcharge,ontheInternet.StockholdersmaythenaccessthesematerialsandvoteovertheInternetorrequestdeliveryofafullsetofmaterialsbymailoremail.Wehaveelectedtoutilizethisprocessforthe2020annualmeeting.Weintendtobeginmailingtherequirednotice,calledNoticeofInternetAvailabilityofProxyMaterials,tostockholdersonoraboutMarch25,2020.TheproxymaterialswillbepostedontheInternet,atir.Vishay.com,nolaterthanthedaywebeginmailingtheNotice.

Theserulesgiveustheopportunitytoserveyoumoreefficientlybymakingtheproxymaterialsavailablequicklyonlineand reducing costs associated with printing and postage. If you receive a Notice, you will not receive a paper orelectronic copy of the proxy materials unless you request one, using the procedure described in the Notice and onVishay'sinvestorrelationswebsite.YoumayalsoelecttoreceivetheNoticeforfuturemeetingselectronically,whichwillsaveVishayprintingandmailingcosts,byregisteringforthisprogramatwww.icsdelivery.com/vshorbycontactingyourbroker.How do I vote my shares? Can I vote electronically?

Ifyouareaholderofrecordofourcommonstockasoftherecorddate,therearefourwaystovote:• Ifyouelectedtoreceivehardcopyproxymaterials,pleasecomplete,date,andsigntheproxycardincludedinthe

materialssenttoyouandreturnitwithoutdelayintheprovidedenvelope,whichrequiresnoadditionalpostageifmailedintheUnitedStates.

• If you are enrolled in our electronic proxy materials delivery service and received these proxy materials via the

Internet,youwillneedtofollowtheproceduresforonlinevotinginordertovoteyourshares. • Youcanvoteusingatouch-tonetelephonebycalling1-800-690-6903,24hoursaday,sevendaysaweek,and

followingtheinstructionsonyourproxycard. • Youmayalsovotebywrittenballotattheannualmeeting.

Thesharesrepresentedbyyour proxywill bevotedasdirectedwithrespect to eachof theproposalsset forthin theproxystatement,OR,ifnodirectionisindicated,attherecommendationsoftheBoardofDirectors.Youmayeithervote"FORALL"or"WITHHOLD"yourvotefortheelectionofthenomineesasdirectorsunderProposalOne, or you may vote for only some of the nominees. You may vote "FOR," "AGAINST" or "ABSTAIN" onProposalsTwoandThree.

Whetherornotyouplantoattendthemeeting,westronglyencourageyoutovotebyproxypriortothemeeting.

If yoursharesareheldinastockbrokerageaccountor byabankor othernominee, youmustfollowtheinstructionsprovidedbyyourbroker,bank,ornomineeonhowtovoteyourproxy.



Can I change my vote after I return my proxy card?

Yes.Youmayrevokeyourproxyatanytimebeforeitisvotedattheannualmeeting.Inordertorevokeyourproxy,youmayeither:• signandtimelyreturnanotherproxycardbearingalaterdate;• providewrittennoticeoftherevocationtoVishay'sCorporateSecretary;or• attendtheannualmeetingandvoteinperson.

If yoursharesareheldinastockbrokerageaccountor byabankor othernominee, youmustfollowtheinstructionsprovidedbyyourbroker,bank,ornomineeonhowtorevokeyourproxy.What will happen if I provide my proxy but do not vote on a proposal?

Youshouldprovidevotinginstructionsforallproposalsappearingontheproxycard.Thepersonsnamedasproxiesontheproxycardwill voteyoursharesaccordingtoyourinstructions.However, if youfail toprovideinstructionsonhowyou want your shares to be voted, properly signed and dated proxies will be voted in accordance with therecommendationoftheBoardofDirectors.What will happen if I do not provide my proxy?

Ifyouareastockholderofrecord,yourshareswillnotbevoted.

If you are the beneficial owner of shares held in street name, your broker, bank, or other holder of record might beauthorized to vote your shares on certain routine matters. The NYSE considers the ratification of the independentregisteredpublicaccountingfirmtobearoutinematter.Onroutinematters,yourbrokerornomineecanvoteyourstreetnameshareseventhoughyouhavenotprovidedvotinginstructions,orchosenottovoteyoursharesonthosematters.

Who will verify the election results?

Vishaywill appoint an inspector whowill ascertain the number of shares outstanding andthe voting powers of each,determinethesharesrepresentedattheannualmeetingandthevalidityoftheproxiesandballots,countallvotesandballots, determine and retain for a reasonable period a record of the disposition of any challenges made to anydeterminations by such inspector, and certify a determination of the number of shares represented at the annualmeetingandhiscountofallvotesandballots.

Are there any stockholders who own more than 5% of Vishay's shares or voting power?

RutaZandmancontrols,solelyoronasharedbasiswithMarcZandmanandZivShoshani,approximately42.9%ofthetotalvotingpowerofourcapitalstock;MarcZandmancontrols,solelyoronasharedbasiswithRutaZandmanandZivShoshani,approximately34.0%ofthetotalvotingpowerofourcapitalstock;andZivShoshanicontrols,solelyoronashared basis with Ruta Zandman and Marc Zandman, approximately 34.0% of the total voting power of our capitalstock.TheyintendtovoteFOR ALL nomineesandFOR ProposalsTwoandThree.According to filings made with the Securities and Exchange Commission ("SEC"), BlackRock, Inc.; The VanguardGroup;DimensionalFundAdvisorsLP;andDNBAssetManagementASeacharedeemedtoowngreaterthan5%ofVishay'soutstandingcommonstock.Additionally,DeborahLarkin,aprivatestockholder,ownsgreaterthan5%ofourClassBcommonstock.See"SecurityOwnershipofCertainBeneficialOwnersandManagement"formoreinformation.BlackRock, Inc.; The Vanguard Group; Dimensional Fund Advisors LP; DNB Asset Management AS and Ms. LarkinhavenotindicatedtheirintentionstoVishayregardingmatterstobevotedonattheannualmeeting.


2020 Proxy Statement | Other Matters Table of Contents

OTHER MATTERS

ThisproxystatementincludesallofthebusinessthattheBoardofDirectorsintendstopresentattheannualmeeting.TheBoardofDirectorsisnotawareofanyothermattersproposedtobepresentedatthemeeting.Ifanyothermatterormattersareproperlybroughtbeforetheannualmeetingoranyadjournmentthereof,itistheintentionofthepersonnamedintheaccompanyingformofproxytovotetheproxyonsuchmattersinaccordancewiththeirjudgment.

AVAILABILITY OF ANNUAL REPORT AND FORM 10‑‑K TO STOCKHOLDERS

OurAnnualReporttoStockholdersfortheyearendedDecember31,2019accompaniesthisproxystatement.Vishaywillprovidetoanystockholder,uponwrittenrequestandwithoutcharge,acopyofourmostrecentAnnualReportonForm10-K,includingthefinancialstatements,asfiledwiththeSecuritiesandExchangeCommission.AllrequestsforsuchreportsshouldbedirectedtoInvestorRelations,VishayIntertechnology,Inc.,63LancasterAvenue,Malvern,PA19355,telephonenumber(610)644‑1300.AcopyofourAnnualReporttoStockholdersandourAnnualReportonForm10-Karealsoavailableonourinvestorrelationswebsiteatir.vishay.com.

STOCKHOLDER PROPOSALS FOR 2021 ANNUAL MEETING

UnderSECrules,ifastockholderwantsustoincludeaproposalinourproxymaterialsforthe2021annualmeeting,astockholderproposalmustcomplywiththerequirementsoftheproxyrulespromulgatedbytheSecuritiesandExchangeCommissionandbereceivedbyourCorporateSecretarybythecloseofbusinessonNovember25,2020.

Theformofproxyissuedwithour2021proxystatementwillconferdiscretionaryauthoritytovotefororagainstanyproposalmadebyastockholderatour2021annualmeetingandwhichisnotincludedinourproxystatement.However,suchdiscretionaryauthorityisnotpermittedtobeexercisedifthestockholderproponenthasgivennoticetoourCorporateSecretaryofsuchproposalbeforeFebruary8,2021andcertainotherconditionsprovidedforintheSEC'sruleshavebeensatisfied.

ByOrderoftheBoardofDirectors,

PeterHenriciCorporate Secretary

March25,2020


VOTE BY INTERNET - www.proxyvote.comUse the Internet to transmit your voting instructions and forelectronicdeliveryofinformation.Voteby11:59P.M.EasternTimeonMay18,2020forshareshelddirectlyandby11:59P.M.EasternTimeonMay14,2020forsharesheldinastockbrokerageaccountorbyabankorothernominee.Haveyourproxycardinhandwhenyou access the web site and follow the instructions to obtain yourrecordsandtocreateanelectronicvotinginstructionform.

VISHAY INTERTECHNOLOGY, INC.59 MAIDEN LANENEW YORK, NY 10038

ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALSIf you would like to reduce the costs incurred by our company inmailingproxymaterials,youcanconsenttoreceivingallfutureproxystatements,proxycardsandannualreportselectronicallyviae-mailor theInternet. Tosignupfor electronic delivery, pleasefollowtheinstructions above to vote using the Internet and, when prompted,indicate that you agree to receive or access proxy materialselectronicallyinfutureyears.

VOTE BY PHONE - 1-800-690-6903

Use any touch-tone telephone to transmit your voting instructions.Voteby11:59P.M.EasternTimeonMay18,2020forshareshelddirectlyandby11:59P.M.EasternTimeonMay14,2020forsharesheld in a stock brokerage account or by a bank or other nominee.Have your proxy card in hand when you call and then follow theinstructions.

VOTE BY MAIL

Mark,signanddateyourproxycardandreturnitinthepostage-paidenvelope we have provided or return it to Vote Processing, c/oBroadridge,51MercedesWay,Edgewood,NY11717.

TOVOTE,MARKBLOCKSBELOWINBLUEORBLACKINKASFOLLOWS:

E98535-P34742 KEEPTHISPORTIONFORYOURRECORDSTHIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. DETACHANDRETURNTHISPORTIONONLY

VISHAY INTERTECHNOLOGY, INC.

The Board of Directors recommends that you vote FOR ALL of thefollowing:

ForAll

WithholdAll

For AllExcept

To withhold authority tovote for any individualnominee(s), mark "ForAllExcept"andwritethenumber(s) of thenominee(s) on the linebelow.

1. ElectionofDirectorsNominees for 3-year terms

01)MichaelJ.Cody02)Dr.AbrahamLudomirski03)RaananZilberman

Nominee for 1-year term 04)JeffreyH.Vanneste

○ ○ ○

The Board of Directors recommends you vote FOR the following proposals: For Against Abstain 2. ToratifytheappointmentofErnst&YoungLLPasVishay'sindependentregisteredpublicaccountingfirmfortheyear

endingDecember31,2020. ○ ○ ○

3. TheadvisoryapprovalofthecompensationoftheCompany'sexecutiveofficers. ○ ○ ○

NOTE: Suchotherbusinessasmayproperlycomebeforethemeetingoranyadjournmentthereof. Foraddresschange/comments,markhere.(seereverseforinstructions) ○

Yes No Pleaseindicateifyouplantoattendthismeeting. ○ ○

Pleasesignexactlyasyourname(s)appear(s)hereon.Whensigningasattorney,executor,administrator,orotherfiduciary, please give full title as such. Joint owners should each sign personally. All holders must sign. If acorporationorpartnership,pleasesigninfullcorporateorpartnershipname,byauthorizedofficer.

Signature[PLEASESIGNWITHINBOX] Date Signature(JointOwners)

Date

VishayIntertechnology,Inc.|2020 Proxy Statement

Important Notice Regarding the Availability of Proxy Materials for theAnnual Meeting of Stockholders to be Held May 19, 2020.

The following materials, also included with this Notice, are available for view on the Internet:

Proxy Statement for the 2020 Annual Meeting of Stockholders

2019 Annual Report to Stockholders

To view these materials, visit http://ir.vishay.com

Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting:TheNoticeandProxyStatementandAnnualReportareavailableatwww.proxyvote.com.

VISHAY INTERTECHNOLOGY, INC. 2020 Annual Meeting of Stockholders TheundersignedherebyappointsMarcZandman,Dr.GeraldPaul,andLoriLipcaman,andeachof

themactingindividually,withfullpowerofsubstitution,tovoteallsharesofcommonstockandClassB common stock of Vishay Intertechnology, Inc. which the undersigned is entitled to vote at theAnnual Meeting of Stockholders of Vishay Intertechnology, Inc. to be held at the VishayIntertechnology,Inc. WorldHeadquarters, 63LancasterAvenue,Malvern,PA19355,at 9:30a.m.,localtime,onTuesday,May19,2020,andatanyadjournmentthereof,herebyratifyingallthatsaidproxies or their substitutes maydoby virtue hereof, and the undersignedauthorizes andinstructssaidproxiestovoteasindicatedonthereverseside:

This proxy, when properly executed, will be voted in the manner directed herein. If no such

direction is made, this proxy will be voted in accordance with the Board of Directors'recommendations.

PLEASE DATE, SIGN AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED

ENVELOPE.

AddressChanges/Comments: (IfyounotedanyAddressChanges/Commentsabove,pleasemarkcorrespondingboxonthe

reverseside.)

(Continued and to be dated and signed on the other side.)

VishayIntertechnology,Inc.|2020 Proxy Statement

Documents

SECURITIES AND EXCHANGE COMMISSION UNITED …...(4) Proposed maximum aggregate value of transaction: (5) Total fee paid: Fee paid previously with preliminary materials. Check box if