Cadence Design Systems Announces Executive and Director Changes
Ticker: CDNS · Form: 8-K · Filed: Dec 12, 2024 · CIK: 813672
| Field | Detail |
|---|---|
| Company | Cadence Design Systems Inc (CDNS) |
| Form Type | 8-K |
| Filed Date | Dec 12, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.01, $80,219 |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, cfo-appointment, compensation
Related Tickers: CDNS
TL;DR
Cadence Design Systems (CDNS) shuffled execs: Murphy out as director, in as CFO. Compensatory plans updated.
AI Summary
On December 12, 2024, Cadence Design Systems, Inc. filed an 8-K report detailing changes in its executive and director positions. Specifically, the report announced the departure of Director Michael J. Murphy and the appointment of Michael J. Murphy as Chief Financial Officer. Additionally, the company disclosed compensatory arrangements for its named executive officers.
Why It Matters
Changes in key executive and director roles can signal shifts in company strategy or financial oversight, impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in CFO and director positions, especially when combined with updated compensation, can introduce uncertainty regarding future financial strategy and leadership stability.
Key Players & Entities
- Cadence Design Systems, Inc. (company) — Registrant
- Michael J. Murphy (person) — Director and Chief Financial Officer
- December 12, 2024 (date) — Date of report
FAQ
Who departed from Cadence Design Systems' board of directors?
Michael J. Murphy departed from Cadence Design Systems' board of directors.
What new role has Michael J. Murphy taken on?
Michael J. Murphy has been appointed as the Chief Financial Officer of Cadence Design Systems.
What is the exact date of this 8-K filing?
The exact date of this 8-K filing is December 12, 2024.
What other information is disclosed in this filing besides executive changes?
The filing also discloses compensatory arrangements for certain officers.
What is the principal executive office address for Cadence Design Systems?
The principal executive office address is 2655 Seely Avenue, San Jose, California 95134.
Filing Stats: 695 words · 3 min read · ~2 pages · Grade level 11 · Accepted 2024-12-12 16:20:05
Key Financial Figures
- $0.01 — ange on which registered Common Stock, $0.01 par value per share CDNS Nasdaq Global
- $80,219 — ve Plan with a grant date fair value of $80,219, rounded to the nearest whole share. Th
Filing Documents
- cdns-20241212.htm (8-K) — 30KB
- ex991cdns12122024.htm (EX-99.1) — 9KB
- 0000813672-24-000209.txt ( ) — 165KB
- cdns-20241212.xsd (EX-101.SCH) — 2KB
- cdns-20241212_lab.xml (EX-101.LAB) — 21KB
- cdns-20241212_pre.xml (EX-101.PRE) — 12KB
- cdns-20241212_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Cadence Design Systems, Inc. Press Release dated December 12, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
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 12, 2024 CADENCE DESIGN SYSTEMS, INC. By: /s/ Karna Nisewaner Karna Nisewaner General Counsel and Corporate Secretary