Under the terms of the ASR, Synopsys will receive an aggregate initial share delivery of approximately 1.09 million shares, with the remainder, if any, to be settled on or before 15th August 2017, upon completion of the repurchase.
The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on Synopsys’ volume-weighted average share price during the repurchase period, less a discount.