UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
| (d) | On November 30, 2020, the Board of Directors (the “Board”) of Cadence Design Systems, Inc. (“Cadence”) elected Julia Liuson as a director of Cadence, and appointed Ms. Liuson to the Strategy Committee of the Board, in each case effective January 4, 2021. |
The compensation of Ms. Liuson will be consistent with Cadence’s compensation of its other non-employee directors in effect from time to time and as described in Cadence’s definitive proxy statement filed with the Securities and Exchange Commission on March 20, 2020. Ms. Liuson will be granted an incentive stock award with a grant date fair value of $21,284.15 under Cadence’s 1995 Directors Stock Incentive Plan, which will fully vest on February 14, 2021. Ms. Liuson will receive such grant in connection with her initial election to the Board and for her service on the Board for a portion of 2021. Ms. Liuson has also entered into Cadence’s standard indemnification agreement.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit |
Description | |
| 99.01 | Cadence Design Systems, Inc. Press Release dated December 1, 2020. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 1, 2020
| CADENCE DESIGN SYSTEMS, INC. | ||
| By: | /s/ Alinka Flaminia | |
| Alinka Flaminia | ||
| Senior Vice President, Chief Legal Officer & Corporate Secretary | ||
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EXHIBIT 99.01
For more information, please contact:
Cadence Newsroom
408-944-7039
newsroom@cadence.com
Cadence Appoints Julia Liuson to Board of Directors
SAN JOSE, Calif., December 1, 2020—Cadence Design Systems, Inc. (Nasdaq: CDNS) today announced the appointment of Julia Liuson to its board of directors, effective January 4, 2021. Ms. Liuson is corporate vice president in the Developer Division at Microsoft Corporation, a leader in enabling the digital transformation for the era of an intelligent cloud and an intelligent edge.
“We are honored to welcome Julia Liuson to our board of directors,” said John B. Shoven, Ph.D., Cadence’s chairman of the board. “Cadence’s innovative solutions enable our customers to maximize the opportunities arising from generational industry trends, such as AI, hyperscale computing and data analytics. Julia’s deep technology and operational expertise coupled with her strong domain knowledge position her well to provide valuable strategic and technology guidance to accelerate Cadence’s Intelligent System Design strategy.”
Ms. Liuson joined Microsoft in 1992 and has held several technical and executive roles of increasing scope and impact over the years. In her current role, she sets technology and business strategy and leads the development of products that include Visual Studio, .NET Framework and developer platform services for Microsoft Azure. Under her leadership, Visual Studio and Visual Studio Code’s monthly active developers have grown from 1.5 million to almost 20 million in six years. In 2012, Ms. Liuson became the first woman promoted to corporate vice president of development at Microsoft. She is a role model and champion of improving diversity and inclusion in STEM—both at Microsoft and through her charitable work. In 2019, Women in Technology International inducted Julia into the Women in Technology Hall of Fame.
About Cadence
Cadence is a pivotal leader in electronic design, building upon more than 30 years of computational software expertise. The company applies its underlying Intelligent System Design™ strategy to deliver software, hardware and IP that turn design concepts into reality. Cadence customers are the world’s most innovative companies, delivering extraordinary electronic products from chips to boards to systems for the most dynamic market applications, including consumer, hyperscale computing, 5G communications, automotive, mobile, aerospace, industrial and healthcare. For six years in a row, Fortune magazine has named Cadence one of the 100 Best Companies to Work For. Learn more at cadence.com.
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© 2020 Cadence Design Systems, Inc. All rights reserved worldwide. Cadence, the Cadence logo and the other Cadence marks found at www.cadence.com/go/trademarks are trademarks or registered trademarks of Cadence Design Systems, Inc. All other trademarks are the property of their respective owners.
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Document and Entity Information |
Nov. 30, 2020 |
|---|---|
| Cover [Abstract] | |
| Entity Registrant Name | CADENCE DESIGN SYSTEMS INC |
| Amendment Flag | false |
| Entity Central Index Key | 0000813672 |
| Document Type | 8-K |
| Document Period End Date | Nov. 30, 2020 |
| Entity Incorporation State Country Code | DE |
| Entity File Number | 000-15867 |
| Entity Tax Identification Number | 00-0000000 |
| Entity Address, Address Line One | 2655 Seely Avenue |
| Entity Address, City or Town | San Jose |
| Entity Address, State or Province | CA |
| Entity Address, Postal Zip Code | 95134 |
| City Area Code | (408) |
| Local Phone Number | 943-1234 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, $0.01 par value per share |
| Trading Symbol | CDNS |
| Security Exchange Name | NASDAQ |
| Entity Emerging Growth Company | false |
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