Corporate GovernanceMay 27, 2026, 04:17 PM
Synopsys Appoints Elliott's Jesse Cohn to Board in Cooperation Deal
AI Summary
Synopsys, Inc. has entered into a Cooperation Agreement with Elliott Investment Management L.P., which includes the appointment of Jesse Cohn, a Managing Partner at Elliott, as an independent director to Synopsys' Board, effective June 1, 2026. The Board will expand to 11 members, and Mr. Cohn will also join the Corporate Governance and Nominating Committee. The agreement outlines customary standstill provisions for Elliott, limiting its beneficial ownership and economic exposure, and ensures Mr. Cohn's inclusion in Synopsys' slate of nominees for the 2027 annual meeting.
Key Highlights
- Synopsys appointed Jesse Cohn, Managing Partner at Elliott Investment Management, as an independent director.
- Jesse Cohn's appointment is effective June 1, 2026, with a term expiring at the 2027 annual meeting.
- The Board of Directors will expand by one member, increasing its size to 11.
- Jesse Cohn will join the Corporate Governance and Nominating Committee of the Board.
- Elliott agreed to customary standstill restrictions, limiting beneficial ownership to 4.9%.
- Elliott's aggregate economic exposure is limited to 7.5% during the cooperation period.
- Synopsys will include Mr. Cohn in its slate of nominees for election at the 2027 Annual Meeting.
- A replacement director provision is included if Elliott maintains a 1.5% net-long position.
Price Impact
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