Form 4: ANSYS Director Disposes All Shares Following Synopsys Merger Completion

ANSYS Director Glenda Dorchak disposed of 4,184 shares of common stock on July 17, 2025, as ANSYS became a wholly-owned subsidiary of Synopsys, Inc. through a merger.

Summary

• Glenda Dorchak, a Director of ANSYS Inc., reported the disposition of 4,184 shares of ANSYS Common Stock.
• The transaction occurred on July 17, 2025, coinciding with the effective time of the merger where ANSYS became a wholly-owned subsidiary of Synopsys, Inc.
• The merger agreement, dated January 15, 2024, stipulated that each ANSYS share was converted into 0.3399 shares of Synopsys Common Stock and $199.91 in cash, without interest.
• The disposed shares included restricted stock units of ANSYS that vested and settled in connection with and in advance of the merger's consummation.
• Following this transaction, Glenda Dorchak beneficially owns 0 shares of ANSYS.

Sentiment

Score: 7

Explanation: The sentiment is generally positive for ANSYS shareholders due to the successful completion of a significant merger, providing a premium valuation and a mix of cash and stock. For the company itself, it marks the end of its independent public existence, which is a neutral to positive outcome depending on the strategic rationale.

Positives

• ANSYS shareholders received a combination of cash ($199.91 per share) and Synopsys stock (0.3399 shares per ANSYS share) as consideration for the merger, providing a clear valuation and exit strategy.
• The successful completion of the merger indicates a significant corporate milestone for both ANSYS and Synopsys.

Negatives

• ANSYS ceases to exist as an independent publicly traded entity, meaning its stock will no longer be traded.
• The reporting person, a director, no longer holds any shares in the former ANSYS entity.

Future Outlook

The document primarily reports the completion of a past event (the merger and associated share disposition). It does not provide forward-looking statements or guidance for ANSYS as an independent entity, as it has ceased to be one. Future outlook would pertain to Synopsys's performance and integration of ANSYS's assets.

Industry Context

This merger signifies a major consolidation in the Electronic Design Automation (EDA) and simulation software industry. Synopsys, a leader in EDA, has expanded its portfolio by acquiring ANSYS, a leader in simulation and analysis software. This strategic move aims to create a more comprehensive suite of tools for chip design and system development, potentially impacting competitors like Cadence Design Systems and Siemens EDA by offering a more integrated solution across the design and simulation workflow.

Comparison to Industry Standards

• The merger consideration, which valued ANSYS at approximately $35 billion at the time of its announcement, represents a significant premium for ANSYS shareholders.
• This valuation can be compared to other major acquisitions in the software and Electronic Design Automation (EDA) sectors, such as Siemens' acquisition of Mentor Graphics for $4.5 billion in 2016, or other large-scale technology mergers.
• The specific per-share consideration of $199.91 in cash and 0.3399 shares of Synopsys stock reflects the market's assessment of ANSYS's strategic value and leadership in simulation software within the broader technology landscape.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders (ANSYS): Received cash and Synopsys stock, realizing value from their investment.
• Employees (ANSYS): Integration into Synopsys, potential changes in roles, benefits, and corporate culture.
• Customers (ANSYS): Potential for expanded product offerings and integrated solutions from Synopsys.
• Management (ANSYS): Roles and responsibilities likely transitioned or ceased as part of the integration.

Next Steps

• Integration of ANSYS's operations, technologies, and personnel into Synopsys.
• Synopsys will report on the financial impact of the acquisition in its future earnings reports and SEC filings.

Key Dates

Keywords

ANSYS, ANSS, Synopsys, Merger, Acquisition, Form 4, Insider Transaction, Stock Disposition, Corporate Action, Restricted Stock Units