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Cadence Design Systems logoCadence Design Systems CDNS

Cadence said its board appointed Moshe Gavrielov as a director on December 12, 2024, effective January 1, 2025. The company said the board has not yet determined his committee assignments.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary

  1. Cadence said its board appointed Moshe Gavrielov as a director on December 12, 2024, effective January 1, 2025. The company said the board has not yet determined his committee assignments.

  2. The company said Gavrielov will receive an incentive stock award under the 1995 Directors Stock Incentive Plan upon his appointment taking effect, with a grant date fair value of $80,219. Subject to his continued Board service, the award will fully vest on the earlier of May 2, 2025 and the date of the 2025 annual meeting of stockholders.

  3. Cadence said Gavrielov was President and Chief Executive Officer of Xilinx, Inc. from 2008 to 2018. It said he was also Executive Vice President and General Manager of Cadence's verification division from 2005 to 2007, and Chief Executive Officer of Verisity, Ltd. from 1998 to 2005.

  4. In its press release, Cadence said Gavrielov serves on the boards of NXP Semiconductors N.V. and Taiwan Semiconductor Manufacturing Company Ltd. and also serves as chair of the boards of Foretellix and SiMa.ai.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Moshe Gavrielov Appointed to Board; Effective Date

Cadence said its board appointed Moshe Gavrielov as a director on December 12, 2024, effective January 1, 2025. The company said the board has not yet determined his committee assignments.

Source · Based on the filing body and exhibits

Equity Award Terms for New Director

The company said Gavrielov will receive an incentive stock award under the 1995 Directors Stock Incentive Plan upon his appointment taking effect, with a grant date fair value of $80,219. Subject to his continued Board service, the award will fully vest on the earlier of May 2, 2025 and the date of the 2025 annual meeting of stockholders.

Source · Based on the filing body and exhibits

Director Background: Xilinx and Cadence Roles

Cadence said Gavrielov was President and Chief Executive Officer of Xilinx, Inc. from 2008 to 2018. It said he was also Executive Vice President and General Manager of Cadence's verification division from 2005 to 2007, and Chief Executive Officer of Verisity, Ltd. from 1998 to 2005.

Source · Based on the filing body and exhibits

Current Outside Board Positions

In its press release, Cadence said Gavrielov serves on the boards of NXP Semiconductors N.V. and Taiwan Semiconductor Manufacturing Company Ltd. and also serves as chair of the boards of Foretellix and SiMa.ai.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗
Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.