Synaptics adopts new indemnification, severance and retention awards for executives and directors
Synaptics updated its indemnification agreements for directors and officers and adopted new change-in-control and severance agreements for executives, all effective April 17, 2025. The board also granted retention restricted stock units to named executives during the period the company is searching for a permanent CEO, after its CEO resigned in February 2025.
- Retention RSU grants on April 17, 2025: 21,854 to Ken Rizvi, 23,415 to Vikram Gupta, 15,610 to Lisa Bodensteiner and 21,854 to Satish Ganesan.
- Retention units vest 50% on the first anniversary of the grant date, with the rest in equal quarterly installments over the following year.
- Severance for a CEO in a change-in-control period is 2x base salary plus 200% of target bonus; other executives receive 1.5x base salary plus 150% of target bonus.
- Ken Rizvi serves as Interim CEO and CFO following the CEO's resignation announced February 3, 2025.