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Synopsys 8-K Report, Bylaw Amendment (Mar 25, 2024)

Reports
Corporate Changes·Exhibits & Filings
Filing Date
Filed March 25, 2024
Period End
March 25, 2024
Security
SNPS
In the record · 2016–202610-K1010-Q338-K142

SNPS filed 10 annual reports (10-K), 33 quarterly reports (10-Q) and 142 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Nov ’16Nov ’16
  2. Leadership change8-K · May ’21May ’21
  3. Leadership change8-K · Apr ’23Apr ’23
  4. Restructuring8-K · Aug ’26Aug ’26

01—Abstract

Summary

Summary of the 8-K filed March 25, 2024. Cited figures are marked; the original filing is the authoritative source.

Synopsys, Inc. (SNPS) filed an 8-K on March 25, 2024, to report amendments to its Amended and Restated Bylaws.

The primary change concerns the appointment of the Lead Independent Director. Previously appointed by the full Board of Directors, the Lead Independent Director will now be appointed by the independent directors of the Board. This role will continue until replaced by the independent directors.

02—Key points

Key Highlights

  1. Amendment to Synopsys' Bylaws effective March 25, 2024.
  2. Key change: Appointment of the Lead Independent Director now rests with the independent directors, not the full Board.
  3. The Lead Independent Director's tenure will be determined by the independent directors.
  4. This amendment reflects a governance shift, potentially enhancing the role and independence of the Lead Independent Director.
  5. No material financial changes or other significant business events are disclosed in this filing.
  6. The full text of the Amended and Restated Bylaws is available as Exhibit 3.1.

03—Questions

Frequently Asked Questions

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

    The main purpose of this 8-K filing is to announce an amendment to Synopsys, Inc.'s Amended and Restated Bylaws, specifically concerning the appointment of the Lead Independent Director.

  2. How does the appointment of the Lead Independent Director change?

    Previously, the entire Board of Directors appointed the Lead Independent Director. Now, only the independent directors of the Board will appoint and can replace the Lead Independent Director.

  3. Does this change have any impact on Synopsys' financial performance or outlook?

    This filing is purely procedural and relates to corporate governance. It does not contain any information regarding Synopsys' financial performance, results, or future outlook. Investors should refer to other filings for financial updates.

  4. Where can I find the details of the amended bylaws?

    The complete text of the Amended and Restated Bylaws is filed as Exhibit 3.1 to this Current Report on Form 8-K and is incorporated by reference.

04—Continue

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