07/29/2021 | Press release | Distributed by Public on 07/29/2021 15:17
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Effective July 27, 2021, the Board of Directors (the 'Board') of Synaptics Incorporated (the 'Company') appointed Patricia Kummrow as an independent Class 2 director of the Company with a term expiring at the annual meeting of our stockholders to be held in 2022.
Ms. Kummrow has served as the Vice President, Network and Edge Group, and General Manager, Ethernet Division, at Intel Corporation since March 2017. She served as the Vice President, Platform Engineering Group, at Intel from January 2016 to March 2017, and in other senior engineering leadership roles at Intel from 2005 to 2016. Earlier in her career, Ms. Kummrow served in engineering and engineering management roles at Hewlett-Packard. Ms. Kummrow holds a Bachelor of Science degree in Electrical Engineering with a minor in Mathematics from the University of Texas at El Paso, and Master's of Science degree in the Management of Technology from Walden University. We believe that Ms. Kummrow's senior management positions with other semiconductor companies, her extensive knowledge of the semiconductor industry, her engineering background, and her understanding of embedded hardware and software, provide the requisite qualifications, skills, perspectives, and experiences that make her well qualified to serve on our Board.
Ms. Kummrow will participate in the Company's independent director compensation program. She will receive the following compensation in connection with her service on the Board, provided that such compensation will be prorated for her service through October 2021:
an annual equity grant valued at $200,000 and comprised solely of Restricted Stock Units vesting quarterly over one year; and
an annual cash retainer of $60,000.
Since the beginning of the Company's last fiscal year through the present, there have been no transactions with the Company, and there are currently no proposed transactions with the Company, in which the amount involved exceeds $120,000 and in which Ms. Kummrow had or will have a direct or indirect material interest within the meaning of Item 404(a) of Regulation S-K.No arrangement or understanding exists between Ms. Kummrow and any other person pursuant to which Ms. Kummrow was selected as a director of the Company.