What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to report the adoption of Synopsys Inc.'s FY2004 Recognition Bonus Plan and to disclose the specific bonus amounts awarded to its top executive officers for fiscal year 2004.

Who received bonuses under the FY2004 Recognition Bonus Plan?

Bonuses were awarded to eligible employees, including the Chief Executive Officer and the next four most highly compensated executive officers whose fiscal year 2004 compensation exceeded $100,000. Specific amounts for these individuals are detailed in the filing.

Are the bonus amounts disclosed the only compensation these executives received in FY2004?

No, these bonus amounts are in addition to their base salaries and other forms of compensation. For example, Vicki Andrews' bonus was partially paid through her FY2004 Individual Compensation Plan (commissions), and Antun Domic's bonus included a small patent bonus outside the main plan.

What does the 'Event date' of October 29, 2004, signify?

The 'Event date' of October 29, 2004, likely refers to the date the FY2004 Recognition Bonus Plan was formally established or approved internally by the company, making it effective from that point or shortly thereafter, as indicated by the October 30, 2004 adoption date in the filing.

SNPS 8-K: Material Agreements

Summary

Synopsys Inc. (SNPS) filed an 8-K on January 11, 2005, reporting on the adoption of its FY2004 Recognition Bonus Plan and subsequent bonus awards. The plan, effective October 30, 2004, outlines bonus payments for eligible employees, including executive officers, based on fiscal year 2004 performance. The filing details specific bonus amounts approved by the Compensation Committee in December 2004 for the Chief Executive Officer and the next four most highly compensated executive officers whose FY2004 compensation exceeded $100,000. Notable bonuses were awarded to Aart de Geus ($498,000) and Chi-Foon Chan ($402,000), reflecting their roles and performance within the company during fiscal year 2004.

Key Highlights

1Synopsys adopted the FY2004 Recognition Bonus Plan effective October 30, 2004.
2Bonuses were approved in December 2004 for executive officers based on FY2004 performance.
3CEO Aart de Geus received a bonus of $498,000.
4President and COO Chi-Foon Chan received a bonus of $402,000.
5Senior Vice President of Worldwide Sales Vicki Andrews received a bonus of $268,000, comprised of both bonus plan and individual compensation plan payments.
6The filing includes the FY2004 Recognition Bonus Plan and the FY04 Individual Compensation Plan for the Senior Vice President, Worldwide Sales as exhibits.

SYNOPSYS INC 8-K Report, Material Agreement (Jan 12, 2005)

Summary

Key Highlights

Frequently Asked Questions