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CADENCE DESIGN SYSTEMS INC 8-K Report, Executive Changes (Feb 14, 2011)

Reports
Leadership Changes
Filing Date
Filed February 14, 2011
Period End
February 8, 2011
Security
CDNS
In the record · 2016–202610-K1210-Q328-K98

CDNS filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 98 current reports (8-K) between 2016 and 2026.

  1. FY2016 annual report10-K · Feb ’17Feb ’17
  2. Leadership change8-K · May ’19May ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Material agreement8-K · Sep ’25Sep ’25

01—Abstract

Summary

Summary of the 8-K filed February 14, 2011. Cited figures are marked; the original filing is the authoritative source.

This 8-K filing from Cadence Design Systems, Inc. (CDNS) reports on a key compensation adjustment for its top executive.

Effective January 1, 2011, the company's Compensation Committee approved the restoration of President and CEO Lip-Bu Tan's base salary to its fiscal 2009 level of $600,000a per year. This action signifies a potential return to pre-recession compensation levels for leadership, indicating a possible strengthening of the company's financial outlook or a strategic decision to re-align executive pay with prior performance standards.

Investors should note that while this is a positive signal regarding executive compensation, it does not provide details on other compensation components like bonuses or stock options, nor does it offer broader financial performance metrics. However, the restoration of the CEO's base salary suggests a level of confidence from the board in the company's current and future financial health, especially after a period of voluntary salary reduction.

02—Key points

Key Highlights

  1. Cadence Design Systems, Inc. (CDNS) announced a change in executive compensation.
  2. The base salary of President and CEO Lip-Bu Tan has been restored.
  3. The restored base salary is $600,000 per year, returning to its fiscal 2009 level.
  4. This change is effective as of January 1, 2011.
  5. Mr. Tan had voluntarily reduced his base salary since July 1, 2009.
  6. The Compensation Committee of the Board of Directors approved this restoration.

03—Questions

Frequently Asked Questions

  1. What is the main purpose of this 8-K filing?

    The main purpose of this filing is to inform the public about the restoration of Cadence Design Systems' President and CEO, Lip-Bu Tan's, base salary to its previous level of $600,000 per year, effective January 1, 2011.

  2. Why did the CEO's salary get reduced previously?

    The filing states that Mr. Tan had voluntarily reduced his base salary starting from July 1, 2009. This suggests the reduction was likely a response to economic conditions or a demonstration of leadership during challenging times.

  3. Does this salary restoration indicate the company's financial health?

    While not a direct indicator of overall financial health, restoring the CEO's base salary to prior levels, especially after a voluntary reduction, can suggest increased confidence by the board in the company's financial performance and future outlook.

  4. Are there any other changes to executive compensation mentioned?

    This specific 8-K filing only details the restoration of the CEO's base salary. It does not provide information on other compensation elements such as bonuses, stock options, or changes for other officers.

04—Continue

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