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Form 8-K SYNOPSYS INC For: Apr 10

April 12, 2024 4:32 PM
SYNOPSYS INC false 0000883241 0000883241 2024-04-10 2024-04-10

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (date of earliest event reported): April 10, 2024

 

 

SYNOPSYS, INC.

(Exact name of Registrant as specified in charter)

 

 

 

Delaware   000-19807   56-1546236

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

675 Almanor Avenue

Sunnyvale, California 94085

(Address of principal executive offices)

Registrant’s telephone number, including area code: (650) 584-5000

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading
Symbol(s)

 

Name of each exchange

on which registered

Common Stock (par value of $0.01 per share)   SNPS   Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 


Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) Amendment of 2006 Employee Equity Incentive Plan, as amended

At the 2024 Annual Meeting of Stockholders (the “Annual Meeting”) of Synopsys, Inc. (“Synopsys”) held on April 10, 2024, Synopsys’ stockholders approved Synopsys’ 2006 Employee Equity Incentive Plan, as amended (the “Amended Employee Equity Plan”), in order to, among other items, (i) increase the number of shares of common stock available for issuance under the plan by 3,400,000 shares, (ii) eliminate the term of the plan, and (iii) provide that incentive stock options may be granted without stockholder approval until the ten-year anniversary of the Board of Directors’ (the “Board”) approval of the plan. Synopsys’ Board and the Compensation and Organizational Development Committee of the Board previously approved the Amended Employee Equity Plan, subject to such stockholder approval. Synopsys’ executive officers are eligible to participate in the Amended Employee Equity Plan.

A summary of the Amended Employee Equity Plan is set forth in Proposal 2 to Synopsys’ definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on February 16, 2024 (the “Proxy Statement”), which is incorporated by reference herein. The summary and the description above of the Amended Employee Equity Plan do not purport to be complete and are qualified in their entirety by reference to the Amended Employee Equity Plan, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

 

Item 5.07

Submission of Matters to a Vote of Security Holders.

(a)(b) Annual Meeting Results

As described in Item 5.02(e) above, Synopsys held its Annual Meeting on April 10, 2024. As of the record date of February 12, 2024, 152,542,368 shares of Synopsys common stock were outstanding and entitled to vote at the Annual Meeting. A total of 135,232,758 shares of Synopsys common stock, constituting a quorum, were represented in person or by proxy at the Annual Meeting.

Synopsys’ stockholders voted on five proposals at the Annual Meeting. The proposals are further described in the Proxy Statement. The final results of the votes regarding each proposal are set forth below.

Proposal 1: Synopsys’ stockholders elected eleven directors to the Board, to serve until the next annual meeting of stockholders or until their successors are elected. The voting results regarding this proposal are set forth below:

 

     For      Against      Abstain      Broker Non-Votes  

Aart J. de Geus

     118,340,281        4,551,799        283,152        12,057,526  

Roy Vallee

     117,877,158        4,625,439        672,635        12,057,526  

Sassine Ghazi

     122,038,509        851,731        284,992        12,057,526  

Luis Borgen

     122,523,194        351,324        300,714        12,057,526  

Marc N. Casper

     121,919,834        929,672        325,726        12,057,526  

Janice D. Chaffin

     104,324,635        18,283,296        567,301        12,057,526  

Bruce R. Chizen

     98,123,574        24,373,498        678,160        12,057,526  

Mercedes Johnson

     120,490,565        2,395,400        289,267        12,057,526  

Robert G. Painter

     119,838,072        3,010,867        326,293        12,057,526  

Jeannine P. Sargent

     118,756,371        4,128,191        290,670        12,057,526  

John G. Schwarz

     112,772,805        10,105,200        297,227        12,057,526  

Proposal 2: As described in Item 5.02(e) above, Synopsys’ stockholders approved the Amended Employee Equity Plan. The Amended Employee Equity Plan is filed as Exhibit 10.1 to this Current Report on Form 8-K. The voting results regarding this proposal are set forth below:

 

For:

     116,209,481  

Against:

     6,832,835  

Abstain:

     132,916  

Broker Non-Votes:

     12,057,526  


Proposal 3: Synopsys’ stockholders approved, on an advisory basis, the compensation of Synopsys’ named executive officers as disclosed in the Proxy Statement. The voting results regarding this proposal are set forth below:

 

For:

     113,964,133  

Against:

     9,037,287  

Abstain:

     173,812  

Broker Non-Votes:

     12,057,526  

Proposal 4: Synopsys’ stockholders ratified the selection of KPMG LLP as Synopsys’ independent registered public accounting firm for the fiscal year ending November 2, 2024. The voting results regarding this proposal are set forth below:

 

For:

     126,718,708  

Against:

     8,378,074  

Abstain:

     135,976  

Broker Non-Votes:

     0  

Proposal 5: Synopsys’ stockholders did not approve the stockholder proposal regarding an independent board chair requirement. The voting results regarding this proposal are set forth below:

 

For:

     40,198,947  

Against:

     82,612,726  

Abstain:

     363,559  

Broker Non-Votes:

     12,057,526  

 

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
Number
  

Description

10.1    2006 Employee Equity Incentive Plan, as amended
104    Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

 

    SYNOPSYS, INC.
Dated: April 12, 2024     By:  

/S/ JOHN F. RUNKEL, JR.

      John F. Runkel, Jr.
      General Counsel and Corporate Secretary

ATTACHMENTS / EXHIBITS

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