Summary
This filing for Synopsys Inc. (SNPS) for the period ending October 30, 2001, provides details on its board of directors, executive compensation, and security ownership. The company has a seasoned leadership team with extensive experience in the technology sector, including co-founder Aart J. de Geus as CEO and Chairman. Executive compensation primarily consists of base salary, bonus, and significant stock option grants, reflecting a strong incentive structure tied to company performance and long-term value creation. Key financial highlights include substantial option grants to executives, with potential realizable values in the millions based on assumed stock appreciation. The filing also details directors' compensation, which includes retainers, meeting fees, and stock option grants. Major shareholders include FMR Corp., J. & W. Seligman & Co. Incorporated, and Blum Capital Partners, L.P., indicating significant institutional interest. The company also addresses compliance with Section 16(a) beneficial ownership reporting requirements and outlines executive termination and change of control provisions, which offer significant protections for top management in specific scenarios.
Key Highlights
- 1The board of directors comprises experienced individuals with diverse backgrounds in technology, finance, and academia, including co-founder and CEO Aart J. de Geus.
- 2Executive compensation is heavily weighted towards stock options, with significant grants made to named executive officers in fiscal year 2001.
- 3A substantial number of stock options are held by executive officers, with potential realizable values reaching millions of dollars under various appreciation scenarios.
- 4Directors receive annual retainers, meeting fees, and stock option grants as compensation for their service.
- 5The company had three major shareholders (FMR Corp., J. & W. Seligman & Co. Incorporated, and Blum Capital Partners, L.P.) holding over 10% of outstanding shares collectively as of January 2002.
- 6Synopsys has employment agreements with key executives that include severance packages and accelerated vesting of stock options upon termination without cause within a specified period following a change of control.
- 7The company reported compliance with Section 16(a) beneficial ownership reporting requirements for its directors, officers, and greater than ten percent stockholders, with a minor amendment noted for one individual.