Cadence Design Systems Inc 8-K, filed Aug 15, 2022
Cadence Design Systems Inc (CDNS)
About this 8-K
Cadence Design Systems Inc filed this 8-K on August 15, 2022, reporting on events of August 11, 2022.
Items reported
- Item 8.01: Other events
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Item 8.01. Other Events
On August 11, 2022, the board of directors of Cadence Design Systems, Inc. (the “Company”) approved the repurchase of up to an additional $1 billion of the Company’s common stock under its existing share repurchase program. The Company may repurchase shares from time to time through open market purchases, in privately negotiated transactions or by other means, including accelerated share repurchase transactions or other structured repurchase transactions, block trades or pursuant to trading plans intended to comply with Rule 10b5-1 of the U.S. Securities Exchange Act of 1934, as amended. The actual timing and amount of future repurchases are subject to business and market conditions, corporate and regulatory requirements, stock price, acquisition opportunities and other factors. The share repurchase program does not have an expiration date and may be modified, suspended or terminated by the Company at any time without prior notice.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: August 15, 2022
| CADENCE DESIGN SYSTEMS, INC. | ||
| By: | /s/ Alinka Flaminia | |
| Alinka Flaminia | ||
| Senior Vice President, Chief Legal Officer & Corporate Secretary | ||
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