8-K
filed May 6, 2024, 7:59 PM ET
ticker CDNS
CIK 0000813672
leadership
confidence high
sentiment negative
materiality 0.65
Cadence CRO Neil Zaman departs; Paul Scannell promoted to SVP Worldwide Field Operations
CADENCE DESIGN SYSTEMS INC
- Neil Zaman steps down as SVP WW Field Ops and CRO effective May 6; becomes Senior Advisor through May 12, 2025.
- Paul Scannell promoted to SVP WW Field Ops, effective May 6, 2024.
- Stockholders approved charter amendments: written consent modifications and officer liability limit.
- All nine director nominees elected; advisory say-on-pay and PwC ratifications approved.
- Shareholder golden parachute proposal rejected with 93% of votes against.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Paul Scannell was appointed as Senior Vice President of Worldwide Field Operations at CADENCE DESIGN SYSTEMS INC.
- Action
- promoted
- Role
- Senior Vice President of Worldwide Field Operations
Exact text from the filing
Paul Scannell has been promoted to Senior Vice President of Worldwide Field Operations.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Neil Zaman departed as Senior Vice President of Worldwide Field Operations and Chief Revenue Officer at CADENCE DESIGN SYSTEMS INC.
- Action
- departed
- Role
- Senior Vice President of Worldwide Field Operations and Chief Revenue Officer
Exact text from the filing
Effective May 6, 2024, Neil Zaman will no longer serve as Senior Vice President of Worldwide Field Operations and Chief Revenue Officer of Cadence.
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Approve the amendment of the Charter to limit monetary liability of certain officers as permitted by law.
- Proposal
- charter amendment
- Outcome
- passed
Exact text from the filing
3. A proposal to approve the amendment of the Charter to limit monetary liability of certain officers as permitted by law. This proposal was approved as set forth below:
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Ratify the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm at the 2024-12-31 meeting.
- Proposal
- auditor ratification
- Outcome
- passed
- Meeting
- 2024-12-31
Exact text from the filing
6. A proposal to ratify the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm of Cadence for its fiscal year ending December 31, 2024. This proposal was approved as set forth below:
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Election of nine directors named in the Proxy Statement.
- Proposal
- director election
- Outcome
- passed
Exact text from the filing
1. A proposal to elect the nine directors named in the Proxy Statement to serve until the 2025 Annual Meeting of Stockholders and until their successors are elected and qualified, or until the director’s earlier death, resignation or removal. Each of the nine director nominees named in the Proxy Statement was elected as set forth below:
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Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Approval of the amendment and restatement of the Amended and Restated Employee Stock Purchase Plan.
- Proposal
- equity plan
- Outcome
- passed
Exact text from the filing
2. A proposal to approve the amendment and restatement of the Amended and Restated ESPP. This proposal was approved as set forth below:
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Advisory resolution to approve named executive officer compensation.
- Proposal
- say on pay
- Outcome
- passed
Exact text from the filing
5. An advisory resolution to approve named executive officer compensation. This proposal was approved as set forth below:
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders approved Approve the amendment of the Charter regarding stockholder action by written consent.
- Proposal
- charter amendment
- Outcome
- passed
Exact text from the filing
4. A proposal to approve the amendment of the Charter regarding stockholder action by written consent. This proposal was approved as set forth below:
View on SEC.gov
Shareholder Votes
SEC 8-K Item 5.07
confidence 0.9
CADENCE DESIGN SYSTEMS INC shareholders rejected Stockholder proposal regarding vote on golden parachutes.
- Outcome
- failed
Exact text from the filing
7. A stockholder proposal regarding vote on golden parachutes. This proposal was not approved as set forth below:
View on SEC.gov
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