Form 4: Ansys Inc. Executive Jennifer Gerchow Reports Stock Transaction Following RSU Vesting Acceleration

Chief Accounting Officer of Ansys Inc., Jennifer Gerchow, reports the withholding of 4,162 shares for tax purposes following the accelerated vesting of restricted stock units.

Summary

• Jennifer Gerchow, Chief Accounting Officer at Ansys Inc., reported a transaction involving the company's common stock on December 23, 2024.
• The transaction involved the withholding of 4,162 shares of common stock at a price of $339.50 per share for the payment of taxes related to the vesting of time-based Restricted Stock Units (RSUs).
• Following the transaction, Gerchow beneficially owns 15,664 shares of Ansys Inc. common stock.
• The reported holdings include 5,371 time-based RSUs granted on various dates between March 3, 2022, and March 1, 2024, which were scheduled to vest on or before March 1, 2027.
• The vesting of these RSUs was accelerated by the Compensation Committee of the Board of Directors due to the merger agreement between Ansys Inc. and Synopsys, Inc.
• The accelerated RSUs remain subject to certain forfeiture conditions, and Gerchow has signed a 280G Mitigation Acknowledgment as of December 23, 2024.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction related to a merger, with no indication of negative sentiment. The accelerated vesting is a positive for the executive, but the tax withholding is a neutral event.

Industry Context

This transaction is a result of the merger between Ansys Inc. and Synopsys, Inc., which is a significant event in the technology industry. The accelerated vesting of RSUs is a common practice during mergers to ensure executives are properly compensated and incentivized during the transition.

Comparison to Industry Standards

• Accelerated vesting of RSUs during mergers is a standard practice in the tech industry to align executive compensation with the transaction.
• Companies like Cadence Design Systems and Mentor Graphics (now part of Siemens) have also seen similar RSU vesting accelerations during acquisitions.
• The specific terms of the vesting acceleration and forfeiture conditions are typical in merger agreements to protect the interests of the acquiring company.

Stakeholder Impact

• Shareholders may see this as a standard part of the merger process.
• Employees with RSUs may experience similar vesting accelerations.

Key Dates

Keywords

Ansys Inc., Jennifer Gerchow, RSU, Restricted Stock Units, Stock Transaction, Merger, Synopsys, Vesting, Compensation Committee, Tax Withholding