<SEC-DOCUMENT>0001437749-23-009832.txt : 20230410
<SEC-HEADER>0001437749-23-009832.hdr.sgml : 20230410
<ACCEPTANCE-DATETIME>20230410153408
ACCESSION NUMBER:		0001437749-23-009832
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230410
DATE AS OF CHANGE:		20230410

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BEL FUSE INC /NJ
		CENTRAL INDEX KEY:			0000729580
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COILS, TRANSFORMERS & OTHER INDUCTORS [3677]
		IRS NUMBER:				221463699
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-11676
		FILM NUMBER:		23811002

	BUSINESS ADDRESS:	
		STREET 1:		206 VAN VORST ST.
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302
		BUSINESS PHONE:		2014320463

	MAIL ADDRESS:	
		STREET 1:		206 VAN VORST ST.
		CITY:			JERSEY CITY
		STATE:			NJ
		ZIP:			07302
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>belfb20230407_defa14a.htm
<DESCRIPTION>FORM DEFA14A
<TEXT>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>UNITED STATES</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>SECURITIES AND EXCHANGE COMMISSION</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>WASHINGTON, D.C. 20549</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>SCHEDULE 14A</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><br>
<b>Proxy Statement Pursuant to Section 14(a)<br>
of the Securities Exchange Act of 1934<br>
(Amendment No. )</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><br>
Filed by the Registrant &#9746;<br>
Filed by a Party other than the Registrant &#9744;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">Check the appropriate box:<br>
&#9744; Preliminary Proxy Statement<br>
&#9744; Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))<br>
&#9744;&nbsp;Definitive Proxy Statement<br>
&#9746;&nbsp;Definitive Additional Materials<br>
&#9744; Soliciting Material under Rule 14a-12</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><b>BEL FUSE INC.</b><br>
(Name of Registrant as Specified in Its Charter)</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0pt 7.2pt; text-align: center;"><br>
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">Payment of Filing Fee (Check all boxes that apply):</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><br>
&#9746; No fee required.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&#9744; Fee paid previously with preliminary materials.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;"><br>
&#9744; Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.</p>

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			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;"><b>BEL FUSE INC.</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;"><b>c/o Continental Proxy Services</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;">1 State Street, New York NY&nbsp; 10004</p>
			</td>
			<td style="width: 288px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 417px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>BEL FUSE INC.</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>206 Van Vorst Street</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>Jersey City, NJ&nbsp; 07302</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</p>
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			<td style="width: 684px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 288px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 417px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>NOTICE OF ANNUAL MEETING</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>OF SHAREHOLDERS</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>to be held on</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>Tuesday, May 23, 2023</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>at 11:00 am ET</b><br>
			<b>via live audio webcast</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</p>
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			<td style="width: 288px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 417px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</p>

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			<td style="width: 684px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 288px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">&nbsp;</td>
			<td style="width: 417px; font-family: &quot;Times New Roman&quot;; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;">&nbsp;</p>
			</td>
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			<td colspan="3" style="width: 684px; text-align: center; border: 1px solid rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;; font-size: 14pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;"><b>*Shareholders are cordially invited to attend the Virtual Annual Meeting and to vote online</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt;"><b>during the Virtual Annual Meeting, on the Internet or any Mobile device.</b></p>
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<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; margin: 0">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0px;">Dear Shareholder,</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0px;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0px;">The 2023&nbsp;Annual Meeting of Shareholders of Bel Fuse Inc. will be held virtually over the internet on Tuesday, May 23, 2023&nbsp;at 11:00 am Eastern Time at <b>https://www.cstproxy.com/belfuse/2023</b>.&nbsp; Directions to access the Bel Fuse Virtual Annual Meeting are available in the proxy statement, which can be viewed at <b>https://www.cstproxy.com/belfuse/2023</b>.</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0px;">&nbsp;</p>

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			<td colspan="3" style="width: 73px; font-size: 12pt;">Proposals to be considered at the Annual Meeting:</td>
		</tr>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt; vertical-align: top;">(1)</td>
			<td style="width: 1294px; font-size: 12pt;">To elect three directors for three-year terms (Thomas E. Dooley, Rita V. Smith and Jacqueline Brito) as described in the proxy statement;</td>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt; vertical-align: top;">(2)</td>
			<td style="width: 1294px; font-size: 12pt;">To ratify the designation of Grant Thornton LLP to audit Bel's books and accounts for 2023;</td>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt; vertical-align: top;">(3)</td>
			<td style="width: 1294px; font-size: 12pt;">To approve, on an advisory basis, the executive compensation of the Company's named executive officers as described in the proxy statement;</td>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt; vertical-align: top;">(4)</td>
			<td style="width: 1294px; font-size: 12pt;">To vote, on an advisory basis, on how often the Company will conduct an advisory vote on executive compensation; and</td>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt; vertical-align: top;">(5)</td>
			<td style="width: 1294px; font-size: 12pt;">To address such other matters as may properly come before the 2023 annual meeting or any adjounment or postponement thereof.</td>
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			<td style="width: 40px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 29px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 1294px; font-size: 12pt;">&nbsp;</td>
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			<td colspan="3" style="width: 40px; font-size: 12pt;">The Board of Directors recommends a vote "FOR ALL" nominees under Proposal 1, "FOR" Proposals 2 and 3, and for "EVERY YEAR" with respect to Proposal 4.</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

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			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">Your electronic vote authorizes the named proxies to vote your shares in the same</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">manner as if you marked, signed, dated, and returned the proxy card.</p>
			</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px;">&nbsp;</td>
		</tr>
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			<td style="width: 52px;">&nbsp;</td>
			<td style="width: 635px;">&nbsp;</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px;">&nbsp;</td>
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			<td style="width: 52px;">&nbsp;</td>
			<td style="width: 635px; border: 1px solid rgb(0, 0, 0);">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>Vote During the Meeting -</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">If you plan to attend the virtual online annual meeting, you will need your 12 digit control number to vote electronically during the annual meeting.&nbsp; To attend the annual meeting, visit:</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>https://www.cstproxy.com/belfuse/2023</b></p>
			</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px; border: 1px solid rgb(0, 0, 0);">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><u><b><i>Vote Your Proxy on the Internet:</i></b></u></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt;"><b>Go to http://www.cstproxyvote.com</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">Have your notice available when you access the above website.&nbsp; Follow the prompts to vote your shares.</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
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			<td style="width: 52px;">&nbsp;</td>
			<td style="width: 635px;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;"><b>MOBILE VOTING</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">On your Smartphone/Tablet, open the QR Reader and scan the below image.&nbsp; Once the voting site is displayed, enter your Control Number from the proxy card and vote your shares.</p>
			</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;">CONTROL NUMBER</p>
			</td>
		</tr>
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			<td style="width: 52px;">&nbsp;</td>
			<td style="width: 635px;">&nbsp;</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px; border: 1px solid rgb(0, 0, 0);">&nbsp;</td>
		</tr>
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			<td style="width: 52px;">&nbsp;</td>
			<td style="width: 635px;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;"><b><font style="font-family:Times New Roman;font-size:14pt;">To view the Proxy Materials and attend the</font><br>
			<font style="font-family:Times New Roman;font-size:14pt;">Annual Meeting, please go to:</font></b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 14pt; text-align: center;"><b>https://www.cstproxy.com/belfuse/2023</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>
			</td>
			<td style="width: 108px;">&nbsp;</td>
			<td style="width: 565px;">&nbsp;</td>
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<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

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<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: center;"><b>BEL FUSE INC.</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: center;">206 Van Vorst Street</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: center;">Jersey City, NJ&nbsp; 07302</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 14pt; margin: 0pt 7.2pt; text-align: center;"><b>Important Notice Regarding the Availability of Proxy Materials<br>
For the Shareholder Meeting to be Held On Tuesday, May 23, 2023</b></p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">The following Proxy Materials are available to you to review at:&nbsp; <b>https://www.cstproxy.com/belfuse/2023</b></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 12pt; font-family: &quot;Times New Roman&quot;, Times, serif; width: 100%;">

		<tr style="font-size: 12pt;">
			<td style="width: 35px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 42px; font-size: 12pt;">-</td>
			<td style="width: 1284px; font-size: 12pt;">the Company's Annual Report for the year ended December 31, 2022</td>
		</tr>
		<tr style="font-size: 12pt;">
			<td style="width: 35px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 42px; font-size: 12pt;">-</td>
			<td style="width: 1284px; font-size: 12pt;">the Company's 2023 Proxy Statement</td>
		</tr>
		<tr style="font-size: 12pt;">
			<td style="width: 35px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 42px; font-size: 12pt;">-</td>
			<td style="width: 1284px; font-size: 12pt;">the Proxy Card</td>
		</tr>
		<tr style="font-size: 12pt;">
			<td style="width: 35px; font-size: 12pt;">&nbsp;</td>
			<td style="width: 42px; font-size: 12pt;">-</td>
			<td style="width: 1284px; font-size: 12pt;">any amendments to the foregoing materials that are required to be furnished to shareholders</td>
		</tr>

</table>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;"><u><b>Get Informed Before You Vote</b></u></p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">This is not a ballot.&nbsp; You cannot use this notice to vote your shares.&nbsp; This communication presents only an overview of the more complete proxy materials that are available to you on the Internet.&nbsp; We encourage you to access and review all of the important information contained in the proxy materials before voting.</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 12pt; margin: 0pt 7.2pt; text-align: left;">If you would like to receive a paper or e-mail copy of these documents, you must request one.&nbsp; There is no charge for such documents to be mailed to you.&nbsp; Please make your request for a copy as instructed below on or before May 12, 2023&nbsp;to facilitate a timely delivery.&nbsp; You may also request that you receive paper copies of all future proxy materials from the Company.</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-size: 12pt; font-family: &quot;Times New Roman&quot;; width: 100%;">

		<tr style="font-family: &quot;Times New Roman&quot;; font-size: 12pt;">
			<td style="width: 127px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
			<td style="width: 1121px; border: 1px solid rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;; font-size: 12pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt; text-align: center;"><u><b>ACCESSING YOUR PROXY MATERIALS ONLINE</b></u></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt; text-align: center;"><b>Go to https://www.cstproxy.com/belfuse/2023&nbsp;to view these materials online.&nbsp; Have this notice available when you access the proxy materials or to vote your proxy electronically.&nbsp; You must reference your Control number.</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt; text-align: center;">&nbsp;</p>
			</td>
			<td style="width: 114px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;; font-size: 12pt;">
			<td style="width: 127px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
			<td style="width: 1121px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
			<td style="width: 114px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
		</tr>
		<tr style="font-family: &quot;Times New Roman&quot;; font-size: 12pt;">
			<td style="width: 127px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
			<td style="width: 1121px; border: 1px solid rgb(0, 0, 0); text-align: center; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;"><u><b>REQUESTING A PAPER OR E-MAIL COPY OF THE PROXY MATERIALS</b></u></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;"><b>By telephone please call 1-888-266-6791, or</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;"><b>By logging on to https://www.cstproxy.com/belfuse/2023&nbsp;or</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;"><b>By email at:&nbsp; proxy@continentalstock.com</b></p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;; font-size: 12pt;"><i>Please include the company name and your control number in the subject line.</i></p>
			</td>
			<td style="width: 114px; font-family: &quot;Times New Roman&quot;; font-size: 12pt;">&nbsp;</td>
		</tr>

</table>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<p style="font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt 7.2pt;text-align:left;">&nbsp;</p>

<div class="PGBK" style="width: 100%; margin-left: 0pt; margin-right: 0pt">
<div class="PGFTR" style="text-align: center; width: 100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER: always; border: none; width: 100%; height: 2px; color: #000000; background-color: #000000">
<div class="PGHDR" style="text-align: left; width: 100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin: 0pt; text-align: left">&nbsp;</p>

<table style="font-size:19px; font-family:&quot;Times New Roman&quot;; width:100%">

		<tr>
			<td style="width:684px">
			<p>&nbsp;</p>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family:&quot;Times New Roman&quot;, Times, serif"><b>BEL FUSE INC.</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family:&quot;Times New Roman&quot;, Times, serif"><b>c/o Continental Proxy Services</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family:&quot;Times New Roman&quot;, Times, serif">1 State Street, New York NY&nbsp; 10004</div>
			</div>
			</div>
			</div>

			<p>&nbsp;</p>
			</td>
			<td style="width:288px">&nbsp;</td>
			<td style="width:417px">
			<p style="text-align: center; line-height: 1;">&nbsp;</p>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>BEL FUSE INC.</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>206 Van Vorst Street</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>Jersey City, NJ&nbsp; 07302</b></div>
			</div>
			</div>
			</div>

			<p>&nbsp;</p>

			<p>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="width:684px">&nbsp;</td>
			<td style="width:288px">&nbsp;</td>
			<td style="width:417px">
			<p style="text-align: center; line-height: 1;">&nbsp;</p>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>NOTICE OF ANNUAL MEETING</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>OF SHAREHOLDERS</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>to be held on</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>Tuesday, May 23, 2023</b></div>
			</div>
			</div>
			</div>

			<div style="font-size:19px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:14pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>at 11:00 am ET<br>
			via live audio webcast</b></div>
			</div>
			</div>
			</div>

			<p>&nbsp;</p>

			<p>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="width:684px">&nbsp;</td>
			<td style="width:288px">&nbsp;</td>
			<td style="width:417px">
			<p>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td style="width:684px">&nbsp;</td>
			<td style="width:288px">&nbsp;</td>
			<td style="width:417px">
			<p>&nbsp;</p>
			</td>
		</tr>
		<tr>
			<td colspan="3" style="border-bottom:1px solid #000000; width:684px; text-align:center; border-top:1px solid #000000; border-right:1px solid #000000; border-left:1px solid #000000">
			<p><font face="Times New Roman, Times, serif"><b>Voting Items - For Informational Purposes Only</b></font></p>
			</td>
		</tr>

</table>

<p style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<table style="font-size:16px; font-family:&quot;Times New Roman&quot;, Times, serif; width:100%">

		<tr>
			<td colspan="3" style="width:73px">
			<div style="font-size:16px">The following proposals are being considered at the upcoming Annual Meeting of Shareholders of Bel Fuse Inc. which will be held virtually over the internet on Tuesday, May 23, 2023&nbsp;at 11:00 am Eastern Time at <b>https://www.cstproxy.com/belfuse/2023</b>.&nbsp; This information is being provided for informational purposes only.</div>

			<div style="font-size:16px">&nbsp;</div>
			</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width: 29px; vertical-align: top;">
			<div style="font-size:16px">(1)</div>
			</td>
			<td style="width:1294px">
			<div style="font-size:16px">To elect three directors for three-year terms (Thomas E. Dooley, Rita V. Smith, and Jacqueline Brito) as described in the proxy statement;</div>
			</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width: 29px; vertical-align: top;">
			<div style="font-size:16px">(2)</div>
			</td>
			<td style="width:1294px">
			<div style="font-size:16px">To ratify the designation of Grant Thornton LLP to audit Bel's books and accounts for 2023;</div>
			</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width: 29px; vertical-align: top;">
			<div style="font-size:16px">(3)</div>
			</td>
			<td style="width:1294px">
			<div style="font-size:16px">To approve, on an advisory basis, the executive compensation of the Company's named executive officers as described in the proxy statement; and</div>
			</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width: 29px; vertical-align: top;">(4)</td>
			<td style="width:1294px">To vote, on an advisory basis, on how often the Company will conduct an advisory vote on executive compensation</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width: 29px; vertical-align: top;">
			<div style="font-size:16px">(5)</div>
			</td>
			<td style="width:1294px">
			<div style="font-size:16px">To address such other matters as may properly come before the 2023&nbsp;annual meeting or any adjounment or postponement thereof.</div>
			</td>
		</tr>
		<tr>
			<td style="width:40px">&nbsp;</td>
			<td style="width:29px">&nbsp;</td>
			<td style="width:1294px">&nbsp;</td>
		</tr>

</table>

<p style="text-align: left; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<table style="font-size:14px; font-family:&quot;Times New Roman&quot;, Times, serif; width:100%">

		<tr>
			<td style="width:52px">&nbsp;</td>
			<td style="width:635px">
			<p>&nbsp;</p>
			</td>
			<td style="width:108px">&nbsp;</td>
			<td style="width:565px">
			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt;">&nbsp;</p>

			<p style="margin: 0pt; font-family: &quot;Times New Roman&quot;, Times, serif; font-size: 10pt; text-align: center;">CONTROL NUMBER</p>
			</td>
		</tr>
		<tr>
			<td style="width:52px">&nbsp;</td>
			<td style="width:635px">&nbsp;</td>
			<td style="width:108px">&nbsp;</td>
			<td style="border-bottom:1px solid #000000; width:565px; border-top:1px solid #000000; border-right:1px solid #000000; border-left:1px solid #000000">&nbsp;</td>
		</tr>
		<tr>
			<td style="width:52px">&nbsp;</td>
			<td style="width:635px">
			<p style="text-align: center;"><b><font style="font-family:Times New Roman; font-size:14pt">The Proxy Materials are available for review at:</font><br>
			<font style="font-size:14pt;">https://www.cstproxy.com/belfuse/2023</font></b></p>
			</td>
			<td style="width:108px">&nbsp;</td>
			<td style="width:565px">&nbsp;</td>
		</tr>

</table>

<p style="text-align: left; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<div class="PGBK" style="width:100%">
<div class="PGFTR" style="text-align:center; width:100%">
<div class="hf-row">
<div class="hf-cell PGNUM">&nbsp;</div>
</div>
</div>

<hr style="PAGE-BREAK-AFTER:always; border:none; width:100%; height:2px; color:#000000; background-color:#000000">
<div class="PGHDR" style="text-align:left; width:100%">
<div class="hf-row">
<div class="hf-cell TOCLink">&nbsp;</div>
</div>
</div>
</div>

<p style="text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<div style="font-size:14pt">
<div style="font-family:&quot;Times New Roman&quot;, Times, serif"><b>BEL FUSE INC.</b></div>
</div>

<div style="font-size:14pt">
<div style="font-family:&quot;Times New Roman&quot;, Times, serif">206 Van Vorst Street<br>
Jersey City, NJ&nbsp; 07302</div>
</div>

<p style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<p style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<p style="text-align: center; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<div style="font-size:14pt">
<div style="font-family: &quot;Times New Roman&quot;, Times, serif; text-align: center;"><b>Important Notice Regarding the Availability of Proxy Materials<br>
For the Shareholder Meeting to be Held On Tuesday, May 23, 2023</b></div>
</div>

<p style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<div style="font-size:12pt">
<div style="font-family:&quot;Times New Roman&quot;, Times, serif">The following Proxy Materials are available to you to review at:&nbsp; <b>https://www.cstproxy.com/belfuse/2023</b><br>
&nbsp;</div>
</div>

<table style="font-size:16px; font-family:&quot;Times New Roman&quot;, Times, serif; width:100%">

		<tr>
			<td style="width:35px">&nbsp;</td>
			<td style="width:42px">
			<div style="font-size:16px">-</div>
			</td>
			<td style="width:1284px">
			<div style="font-size:16px">the Company's Annual Report for the year ended December 31, 2022</div>
			</td>
		</tr>
		<tr>
			<td style="width:35px">&nbsp;</td>
			<td style="width:42px">
			<div style="font-size:16px">-</div>
			</td>
			<td style="width:1284px">
			<div style="font-size:16px">the Company's 2023&nbsp;Proxy Statement</div>
			</td>
		</tr>
		<tr>
			<td style="width:35px">&nbsp;</td>
			<td style="width:42px">
			<div style="font-size:16px">-</div>
			</td>
			<td style="width:1284px">
			<div style="font-size:16px">the Proxy Card (for informational purposes only)</div>
			</td>
		</tr>
		<tr>
			<td style="width:35px">&nbsp;</td>
			<td style="width:42px">
			<div style="font-size:16px">-</div>
			</td>
			<td style="width:1284px">
			<div style="font-size:16px">any amendments to the foregoing materials that are required to be furnished to shareholders</div>
			</td>
		</tr>

</table>

<p style="text-align: left; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<div style="font-size:12pt">
<div style="font-family:&quot;Times New Roman&quot;, Times, serif">You are receiving this communication because you hold shares of Bel Fuse Inc. non-voting Class B common stock.&nbsp; <b>THIS NOTICE WILL ENABLE YOU TO ACCESS BEL FUSE INC. PROXY MATERIALS FOR INFORMATIONAL PURPOSES ONLY.</b>&nbsp; This communication presents only an overview of the more complete proxy materials that are available to you on the Internet.&nbsp;&nbsp;<br>
&nbsp;</div>
</div>

<div style="font-size:12pt">
<div style="font-family:&quot;Times New Roman&quot;, Times, serif">If you would like to receive a paper or e-mail copy of these documents, you must request one.&nbsp; There is no charge for such documents to be mailed to you.&nbsp; Please make your request for a copy as instructed below on or before May 12, 2023&nbsp;to facilitate a timely delivery.&nbsp; You may also request that you receive paper copies of all future proxy materials from the Company.</div>
</div>

<p style="font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif; margin: 0pt;">&nbsp;</p>

<p style="text-align: left; margin: 0pt; font-size: 10pt; font-family: &quot;Times New Roman&quot;, Times, serif;">&nbsp;</p>

<table style="font-size:16px; font-family:&quot;Times New Roman&quot;; width:100%">

		<tr>
			<td style="width:127px">&nbsp;</td>
			<td style="border-bottom:1px solid #000000; width:1121px; border-top:1px solid #000000; border-right:1px solid #000000; border-left:1px solid #000000">
			<p style="text-align: center;"><u><b>ACCESSING YOUR PROXY MATERIALS ONLINE</b></u></p>

			<div style="font-size:16px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:12pt">
			<div style="font-family: &quot;Times New Roman&quot;; text-align: center;"><b>Go to https://www.cstproxy.com/belfuse/2023&nbsp;to view these materials online.&nbsp; You must reference your Control number.</b><br>
			&nbsp;</div>
			</div>
			</div>
			</div>
			</td>
			<td style="width:114px">&nbsp;</td>
		</tr>
		<tr>
			<td style="width:127px">&nbsp;</td>
			<td style="width:1121px">&nbsp;</td>
			<td style="width:114px">&nbsp;</td>
		</tr>
		<tr>
			<td style="width:127px">&nbsp;</td>
			<td style="border-bottom:1px solid #000000; width:1121px; text-align:center; border-top:1px solid #000000; border-right:1px solid #000000; border-left:1px solid #000000">
			<p><u><b>REQUESTING A PAPER OR E-MAIL COPY OF THE PROXY MATERIALS</b></u><br>
			&nbsp;</p>

			<div style="font-size:16px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:12pt">
			<div style="font-family:&quot;Times New Roman&quot;"><b>By telephone please call 1-888-266-6791, or</b><br>
			&nbsp;</div>
			</div>
			</div>
			</div>

			<div style="font-size:16px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:12pt">
			<div style="font-family:&quot;Times New Roman&quot;"><b>By logging on to https://www.cstproxy.com/belfuse/2023&nbsp;or</b><br>
			&nbsp;</div>
			</div>
			</div>
			</div>

			<div style="font-size:16px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:12pt">
			<div style="font-family:&quot;Times New Roman&quot;"><b>By email at:&nbsp; proxy@continentalstock.com</b><br>
			&nbsp;</div>
			</div>
			</div>
			</div>

			<div style="font-size:16px">
			<div style="font-family:&quot;Times New Roman&quot;">
			<div style="font-size:12pt">
			<div style="font-family:&quot;Times New Roman&quot;"><i>Please include the company name and your control number in the subject line.</i><br>
			&nbsp;</div>
			</div>
			</div>
			</div>
			</td>
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