Summary
Synopsys, Inc. (SNPS) filed a Form 8-K on December 15, 2014, reporting the appointment of Janice D. Chaffin to its Board of Directors, effective December 12, 2014. This appointment increases the board's size from nine to ten directors. Ms. Chaffin brings significant experience, having previously served as Group President of Symantec Corporation's Consumer Business Unit. Ms. Chaffin's compensation will align with the company's standard non-employee director arrangements, including an annual cash retainer of $125,000 and equity awards under the 2005 Non-Employee Directors Equity Incentive Plan. Specifically, she received an initial stock option award for 30,000 shares and a prorated interim stock option award valued at $31,250.
Key Highlights
- 1Synopsys appointed Janice D. Chaffin to its Board of Directors on December 12, 2014.
- 2The board size was increased from nine to ten directors.
- 3Ms. Chaffin has prior executive experience at Symantec Corporation.
- 4Non-employee directors receive an annual cash retainer of $125,000.
- 5Ms. Chaffin received an initial stock option award for 30,000 shares.
- 6A prorated interim stock option award valued at $31,250 was granted to Ms. Chaffin.