Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(d) The Board of Directors (the "Board") of Cadence Design Systems, Inc.
("Cadence") have elected Ita Brennan and Lewis Chew to the Board of Cadence,
and appointed each of them to the Audit Committee of the Board, effective
March 15, 2020.
The compensation of Ms. Brennan and Mr. Chew 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 22, 2019. Ms. Brennan and Mr. Chew were each
granted an incentive stock award with a grant date fair value of $174,945.36
under Cadence's 1995 Directors Stock Incentive Plan, which will vest on
February 14, 2021. Ms. Brennan and Mr. Chew received such grant in connection
with their initial election to the Board and for the portion of 2020 during
which they will serve on the Board. Ms. Brennan and Mr. Chew have also entered
into Cadence's standard indemnification agreement.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.01 Cadence Design Systems, Inc. Press Release dated March 16, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
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