ANIRUDH DEVGAN - 15 Mar 2024 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Role
President and CEO, Director
Signature
Ahalya Hildreth, Attorney-in-Fact for Anirudh Devgan
Issuer symbol
CDNS
Transactions as of
15 Mar 2024
Net transactions value
-$29,368,911
Form type
4
Filing time
19 Mar 2024, 18:20:32 UTC
Previous filing
28 Feb 2024
Next filing
13 Sep 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Tax liability $14,687,725 -49,215 -36% $298.44 87,240 15 Mar 2024 Direct F1
transaction CDNS Common Stock Award $0 +29,105 +33% $0.000000 116,345 15 Mar 2024 Direct F2
transaction CDNS Common Stock Sale $1,129,840 -3,757 -3.2% $300.73 112,588 18 Mar 2024 Direct F3, F4
transaction CDNS Common Stock Sale $3,024,179 -10,013 -8.9% $302.03 102,575 18 Mar 2024 Direct F3, F5
transaction CDNS Common Stock Sale $9,612,165 -31,749 -31% $302.75 70,826 18 Mar 2024 Direct F3, F6
transaction CDNS Common Stock Sale $915,001 -3,014 -4.3% $303.58 67,812 18 Mar 2024 Direct F3, F7

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction CDNS Non-Qualified Stock Option (right to buy) Award $0 +83,145 $0.000000 83,145 15 Mar 2024 Common Stock 83,145 $298.44 Direct F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
F1 Shares withheld to satisfy tax obligations arising out of vesting of Performance Stock Award.
F2 Grant of Performance-Based Incentive Stock Award.
F3 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted on June 14, 2023 and modified on September 13, 2023 by the Reporting Person.
F4 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $300.26 to $300.95, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F5 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $301.32 to $302.31, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F6 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $302.32 to $303.31, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F7 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $303.32 to $303.94, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
F8 Option vests at a rate of 1/48th per month.