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CADENCE DESIGN SYSTEMS INC 8-K Report, Executive Changes (Jan 31, 2022)

Reports
Leadership Changes·Exhibits & Filings
Filing Date
Filed January 31, 2022
Period End
January 31, 2022
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. Material agreement8-K · Feb ’16Feb ’16
  2. Leadership change8-K · Mar ’21Mar ’21
  3. Leadership change8-K · May ’26May ’26

01—Abstract

Summary

Summary of the 8-K filed January 31, 2022. Cited figures are marked; the original filing is the authoritative source.

Cadence Design Systems, Inc. (CDNS) announced a change to its Board of Directors on January 31, 2022, with the election of Mary Louise (ML) Krakauer as a director, effective immediately.

Ms. Krakauer's appointment is a significant governance update for the company. Her compensation will align with existing policies for non-employee directors, and she received an initial incentive stock award valued at $13,013.70a, which vests on February 25, 2022. This appointment signifies Cadence's ongoing commitment to board composition and corporate governance, which are key considerations for investors in assessing the company's stability and strategic direction.

02—Key points

Key Highlights

  1. Mary Louise (ML) Krakauer appointed as a new director to the Board of Directors, effective January 31, 2022.
  2. Ms. Krakauer's compensation will be in line with Cadence's current non-employee director compensation practices.
  3. Received an initial incentive stock award with a grant date fair value of $13,013.70.
  4. The incentive stock award is scheduled to fully vest on February 25, 2022.
  5. Ms. Krakauer has entered into Cadence's standard indemnification agreement.
  6. This filing includes a press release dated January 31, 2022, as an exhibit.

03—Questions

Frequently Asked Questions

  1. Who is Mary Louise (ML) Krakauer and what is her role at Cadence?

    Mary Louise (ML) Krakauer has been elected as a new director to Cadence Design Systems, Inc.'s Board of Directors, effective immediately as of January 31, 2022. Her role will involve contributing to the oversight and strategic direction of the company.

  2. How will Ms. Krakauer be compensated for her service on the Board?

    Ms. Krakauer's compensation will be consistent with the company's established compensation structure for its other non-employee directors. She has also been granted an incentive stock award valued at $13,013.70, which will fully vest on February 25, 2022.

  3. Are there any other significant financial implications from this filing?

    This specific 8-K filing primarily focuses on the director appointment and associated compensation. It does not report new financial statements or material financial events, beyond the stock award granted to Ms. Krakauer.

04—Continue

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