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Synopsys | DEF 14A: Definitive information statements

SEC announcement ·  Feb 16 16:28
Summary by Moomoo AI
Synopsys, Inc. (Synopsys), a global leader in electronic design automation and semiconductor IP, announced a successful fiscal year 2023 despite global economic uncertainties. The company reported record revenue of $5.8 billion, a 15% increase year-over-year, and improved GAAP and non-GAAP operating margins. Synopsys also returned approximately $1.2 billion to stockholders through stock repurchases and expanded its backlog to $8.6 billion. The company's product innovations and technology leadership, particularly in AI-driven chip design, advanced process nodes, and multi-die systems, have positioned it for future success. Synopsys' corporate governance was strengthened with the separation of the CEO and Executive Chair roles, following Dr. Aart de Geus's transition to Executive Chair and Sassine Ghazi's appointment as President and CEO. The company's Board of Directors recommends voting for the election of eleven director nominees, approval of the amended 2006 Employee Equity Incentive Plan, and the ratification of KPMG LLP as the independent auditor for fiscal 2024. A stockholder proposal for an independent Board Chair requirement is recommended against by the Board.
Synopsys, Inc. (Synopsys), a global leader in electronic design automation and semiconductor IP, announced a successful fiscal year 2023 despite global economic uncertainties. The company reported record revenue of $5.8 billion, a 15% increase year-over-year, and improved GAAP and non-GAAP operating margins. Synopsys also returned approximately $1.2 billion to stockholders through stock repurchases and expanded its backlog to $8.6 billion. The company's product innovations and technology leadership, particularly in AI-driven chip design, advanced process nodes, and multi-die systems, have positioned it for future success. Synopsys' corporate governance was strengthened with the separation of the CEO and Executive Chair roles, following Dr. Aart de Geus's transition to Executive Chair and Sassine Ghazi's appointment as President and CEO. The company's Board of Directors recommends voting for the election of eleven director nominees, approval of the amended 2006 Employee Equity Incentive Plan, and the ratification of KPMG LLP as the independent auditor for fiscal 2024. A stockholder proposal for an independent Board Chair requirement is recommended against by the Board.
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