Company: SNPS
Filing Date: 2025-07-17
Form Type: 425
Source: 0001140361-25-026140
Chunk: 3

Company: SYNOPSYS INC
Filing Date: 2025-07-17
Form: 425
Chunk 3
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 Synopsys Common Stock for the five consecutive trading days ending on July 16, 2025 (the “ Conversion Ratio”). Pursuant to the Merger Agreement, as of the Effective Time, each outstanding Ansys restricted stock unit (“ RSU”) that (i) was vested but not yet settled as of immediately prior to the Effective Time, (ii) was outstanding as of immediately prior to the Effective Time and was granted to a non-employee member of Ansys’ board of directors, (iii) vested effective as of the Effective Time in accordance with its terms, or (iv) was outstanding and not forfeited in accordance with its terms immediately prior to the Effective Time and held by a person who, as of immediately prior to the Effective Time, was no longer an employee or other service provider to Ansys or its subsidiaries (each, a “ Specified RSU”) was canceled and extinguished, and the holder thereof became entitled to receive (x) the Merger Consideration on the same terms and conditions as outstanding shares of Ansys Common Stock and (y) an amount in cash equal to any accrued but unpaid dividend with respect to each RSU, with the number of shares of Ansys Common Stock subject to those RSUs that are performance-based to be determined based on the attainment of applicable performance metrics specified in the Merger Agreement. Pursuant to the Merger Agreement, as of the Effective Time, each unvested RSU that was not a Specified RSU was converted into that number of Synopsys RSUs, rounded to the nearest whole share, equal to the product of (i) the number of shares of Ansys Common Stock subject to such RSU (and, for RSUs that are performance-based, such number of shares of Ansys Common Stock based on the attainment of the applicable performance metrics specified in the Merger Agreement), including any accrued but unpaid dividend thereon, multiplied by (ii) the Conversion Ratio. Any converted RSU will be subject to the same terms and conditions as were applicable to the underlying RSU immediately prior to the Effective Time, provided that for any RSU that was performance-based, the performance metrics applicable to such RSU do not apply following the Effective Time. On March 17, 2025, Synopsys issued $10.0 billion of senior notes described in further detail in Item 1.01 in Synopsys’ Current Report on Form 8-K filed with the Securities and Exchange Commission (“ SEC”) on March 17, 2025