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|Item 5.07.|| |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 12, 2021, the Board of Directors (the “Board”) of ANSYS, Inc. (the “Company”) voted to increase the size of the Board from eight to nine directors and to increase the size of Class I from three to four directors. On March 12, 2021, the Board elected Jim Frankola to the Board to fill the resulting vacancy. Mr. Frankola will serve as a Class I director for the term expiring on the date of the Company’s 2021 Annual Meeting. He was also appointed to the Board’s Audit Committee.
Mr. Frankola will participate in the Company’s non-employee director compensation program, which is described on page 21 of the Company’s proxy statement for its 2020 Annual Meeting of Stockholders, filed with the Securities and Exchange Commission on March 31, 2020. In connection with his appointment to the Board, Mr. Frankola will receive a pro-rated annual cash retainer for his board and committee service and a pro-rated grant of restricted stock units with a grant date of March 12, 2021. The RSUs granted to Mr. Frankola will vest on the date of the Company’s 2021 Annual Meeting. In addition, the Company will enter into its standard Non-Employee Director Indemnification Agreement and Confidentiality Agreement with Mr. Frankola.
There are no arrangements or understandings between Mr. Frankola and any other persons pursuant to which he was selected as director of the Company. Mr. Frankola does not have any direct or indirect material interest in any transaction or proposed transaction required to be reported under Item 404(a) of Regulation S-K.
A copy of the press release announcing the appointment of Mr. Frankola to the Board is attached hereto as Exhibit 99.1.
|Item 9.01|| |
Financial Statements and Exhibits.
|99.1||Press release dated March 15, 2021|
|104||Cover Page Interactive Data File (embedded within the Inline XBRL document)|
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.
|Date: March 15, 2021||By:|
|Vice President, General Counsel and Secretary|