8-K
Synopsys Inc (SNPS)
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): November 28, 2021
SYNOPSYS, INC.
(Exact name of Registrant as specified in charter)
| Delaware | 000-19807 | 56-1546236 |
|---|---|---|
| (State or other jurisdiction<br> <br>of incorporation) | (Commission<br> <br>File Number) | (I.R.S. Employer<br> <br>Identification No.) |
690 East Middlefield Road
Mountain View, California 94043
(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<br> <br>Symbol(s) | Name of each exchange<br> <br>on which registered |
|---|---|---|
| Common Stock<br>(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. |
|---|
On November 28, 2021, Trac Pham notified Synopsys, Inc. (“Synopsys”) that he intends to retire as Chief Financial Officer of Synopsys in 2022.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) Exhibits
| Exhibit<br> <br>Number | Exhibit Title |
|---|---|
| 99.1 | Press release dated December 1, 2021 announcing the planned retirement of Trac Pham as Chief Financial Officer of Synopsys, Inc. |
| 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: December 1, 2021 | By: | /s/ John F. Runkel, Jr. |
| John F. Runkel, Jr. | ||
| General Counsel and Corporate Secretary |
EX-99.1
Exhibit 99.1
NEWS RELEASE
Editorial Contact:
Simone Souza
Synopsys, Inc.
650-584-6454
simone@synopsys.com
Investor Contact:
Lisa L. Ewbank
Synopsys, Inc.
650-584-1901
Synopsys-ir@synopsys.com
Synopsys Announces Planned Retirement of CFO Trac Pham
MOUNTAIN VIEW, Calif., Dec. 1, 2021 – Synopsys, Inc. (Nasdaq: SNPS) today announced that Trac Pham, chief financial officer, intends to retire in 2022. To ensure an orderly transition, Pham will remain in his current role until a successor is in place. Synopsys will initiate a comprehensive search to identify a replacement.
“Trac has made excellent contributions throughout his 15 years at Synopsys, most recently as CFO since 2014,” said Aart de Geus, chairman and co-CEO. “As CFO, he was instrumental in driving our company’s transformation – accelerating margin and EPS growth while ensuring sufficient investments to best serve our customers and accelerate revenue growth. While we will miss his insights, leadership and teamplay, I congratulate him on a successful career and wish him well in the next phase of his life.”
“It has been a privilege to serve as Synopsys’ CFO and to work with Aart, Chi-Foon, and our team to support the enduring success of Synopsys,” said Trac Pham. “I have a deep affection for our company and team, and this experience has been an important part of my life. Knowing that Synopsys is strongly positioned and poised for more success gives me the comfort and flexibility to prioritize my desire to spend more time with my family. I am looking forward to the next phase of life and will work with our leadership team to ensure a smooth transition.”
About Synopsys
Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software^™^ partner for innovative companies developing the electronic products and software applications we rely on every day. As an S&P 500 company, Synopsys has a long history of being a global leader in electronic design automation (EDA) and semiconductor IP and offers the industry’s broadest portfolio of application security testing tools and services. Whether you’re a system-on-chip (SoC) designer creating advanced semiconductors, or a software developer writing more secure, high-quality code, Synopsys has the solutions needed to deliver innovative products. Learn more at www.synopsys.com.
Safe Harbor for Forward-Looking Statements
This press release contains forward-looking statements, including statements related to Synopsys’ accelerating revenue, margin and EPS growth, and management transition plans. Forward-looking statements are subject to both known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, the ability to hire a qualified candidate in a timely manner or at all, the ability to successfully transition the roles and responsibilities of Synopsys’ chief financial officer to a successor, the ability for the successor to continue driving Synopsys’ business and financial objectives, and the other risks and uncertainties set forth in the risk factors section of Synopsys’ most recently filed Quarterly Report on Form 10-Q. Synopsys assumes no obligation to update any forward-looking statement contained in this press release.