8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________

 FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  March 2, 2021

ASPEN TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-34630	04-2739697
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

20 Crosby Drive,	Bedford,	MA	01730
(Address of principal executive offices)			(Zip Code)

Registrant’s telephone number, including area code: (781) 221-6400

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class	Trading Symbol	Name of Each Exchange on Which Registered
Common stock, $0.10 par value per share	AZPN	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On March 2, 2021, we announced the appointment of Chantelle Breithaupt to the position of Senior Vice President, Chief Financial Officer, effective March 22, 2021. Ms. Breithaupt will serve at an annual salary of $425,000, and will be offered an executive retention agreement consistent with our agreements with other non-CEO executives. Ms. Breithaupt will also participate in the FY2021 Executive Bonus Plan, with an annual bonus target of $300,000 prorated for the fiscal year ending June 30, 2021, and will receive a sign-on bonus of $150,000. In addition, on her start date, Ms. Breithaupt will receive equity grants of (a) $500,000 in value of fully vested restricted stock units and (b) $2,350,000 in value allocated between restricted stock units and stock options, which will vest in 16 equal quarterly installments.

Ms. Breithaupt was employed by Cisco Systems, Inc. from 2014 to 2021, where she served as, among other roles, Senior Vice President - Finance since January 2021, Vice President of Finance, Customer Experience/Services from August 2018 to January 2021, Vice President - Finance, Americas from October 2016 to August 2018, and Senior Director - Commercial Finance from September 2015 to September 2016. From 1997 to 2014, Ms. Breithaupt was with General Electric Company, where she last served as Chief Financial Officer of GE Healthcare Services, EMEA. She is 48 years old.

Item 9.01 Financial Statements and Exhibits.

(d)                                 Exhibits.

Exhibit No.	Description
99.1	Press release issued by Aspen Technology, Inc. on March 2, 2021.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	ASPEN TECHNOLOGY, INC.
Date: March 2, 2021	By:	/s/ Frederic G. Hammond
		Frederic G. Hammond
		Senior Vice President, General Counsel and Secretary

EX-99.1

Exhibit 99.1

Contacts:

Media Contact	Investor Contact
Lucy Millington	Brian Denyeau
Aspen Technology, Inc.	ICR for Aspen Technology, Inc.
lucy.millington@aspentech.com	brian.denyeau@icrinc.com

Aspen Technology Appoints Chantelle Breithaupt as Senior Vice President and Chief Financial Officer

BEDFORD, Mass. - March 2, 2021 - Aspen Technology, Inc. (NASDAQ:AZPN), a global leader in asset optimization software, has appointed Chantelle Breithaupt as Senior Vice President and Chief Financial Officer. Breithaupt will join AspenTech on March 22, 2021.

Breithaupt joins AspenTech from Cisco where she was most recently Senior Vice President, Finance for its Customer Experience organization to transform Cisco's entire $50B partner and customer journey. While at Cisco, Breithaupt contributed to the growth of its Americas and Services business divisions through the transition to new business models, implementation of clear accountability frameworks and a rigorous approach to execution across the finance organization. In 2018, Breithaupt was awarded the YWCA Silicon Valley Tribute to Women Award, recognizing excellence in both finance and contributions to Silicon Valley leadership.

“I am very pleased to welcome Chantelle Breithaupt to the AspenTech team. She brings extensive experience running finance organizations at scale, executing transformational initiatives, and building great, diverse teams,” commented Antonio Pietri, President and Chief Executive Officer at Aspen Technology. “Chantelle joins AspenTech as we continue our drive for sustained double-digit growth and best-in-class profitability on our journey to our goal of one billion dollars in annual spend. Chantelle’s expertise and experience will be of significant value to us in this journey.”

Prior to Cisco, Breithaupt was with General Electric (GE) where she began her career as a graduate of its two-year Finance Leadership Program. At GE, Breithaupt held several management positions before becoming CFO, Global Supply Chain, EMEA and ultimately CFO, GE Healthcare Services, EMEA.

“I look forward to supporting AspenTech at this pivotal moment in its 40-year journey. I am impressed with the ambition and market-leading technology that underpin its growth trajectory. I look forward to building on the solid foundation to accelerate agility and transformation within the finance organization and across the company,” commented Chantelle Breithaupt.

Breithaupt will succeed Karl Johnsen, whose departure from AspenTech was announced in February. Breithaupt and Johnsen will work through a transition period, and Johnsen will continue in the Company in an advisory role through June 30. “I want to thank Karl for his accomplishments at AspenTech and wish him every success in his next venture,” Pietri concluded.

About Aspen Technology

Aspen Technology (AspenTech) is a global leader in asset optimization software. Its solutions address complex, industrial environments where it is critical to optimize the asset design, operation and maintenance lifecycle. AspenTech uniquely combines decades of process modelling expertise with artificial intelligence. Its purpose-built software platform automates knowledge work and builds sustainable competitive advantage by delivering high returns over the entire asset lifecycle. As a result, companies in capital-intensive industries can maximize uptime and push the limits of performance, running their assets safer, greener, longer and faster. Visit AspenTech.com to find out more.

© 2021 Aspen Technology, Inc. AspenTech and the Aspen leaf logo are trademarks of Aspen Technology, Inc.

Source: Aspen Technology, Inc.

XML

Cover Page	Mar. 02, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	Mar. 02, 2021
Entity Registrant Name	ASPEN TECHNOLOGY, INC.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-34630
Entity Tax Identification Number	04-2739697
Entity Address, Address Line One	20 Crosby Drive,
Entity Address, City or Town	Bedford,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01730
City Area Code	781
Local Phone Number	221-6400
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common stock, $0.10 par value per share
Trading Symbol	AZPN
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false
Entity Central Index Key	0000929940
Amendment Flag	false