Lip Bu Tan - 17 Mar 2022 Form 4 Insider Report for CADENCE DESIGN SYSTEMS INC (CDNS)

Role
Executive Chairman, Director
Signature
Stephanie Wells, Attorney-in-Fact for Lip-Bu Tan
Issuer symbol
CDNS
Transactions as of
17 Mar 2022
Net transactions value
-$11,608,134
Form type
4
Filing time
21 Mar 2022, 21:36:56 UTC
Previous filing
01 Mar 2022
Next filing
20 Apr 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CDNS Common Stock Options Exercise $980,000 +50,000 +6.9% $19.60 777,264 17 Mar 2022 Direct F1
transaction CDNS Common Stock Sale $5,371,668 -35,464 -4.6% $151.47 741,800 17 Mar 2022 Direct F1, F2
transaction CDNS Common Stock Sale $2,216,426 -14,536 -2% $152.48 727,264 17 Mar 2022 Direct F1, F3
transaction CDNS Common Stock Tax liability $5,000,040 -35,088 -4.8% $142.50 692,176 17 Mar 2022 Direct F4
holding CDNS Common Stock 15,000 17 Mar 2022 Held by Trust 1 F5
holding CDNS Common Stock 1,307,268 17 Mar 2022 Held by Trust 2 F6
holding CDNS Common Stock 7,000 17 Mar 2022 Held by Trust 3 F7
holding CDNS Common Stock 31,400 17 Mar 2022 Held by IRA F8

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) Options Exercise $0 -50,000 -12% $0.000000 350,000 17 Mar 2022 Common Stock 50,000 $19.60 Direct F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The transaction reported in this Form 4 was effected pursuant to a Rule 10b5-1 Trading Plan adopted by the Reporting Person.
F2 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $151.00 to $151.98, 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.
F3 The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $152.00 to $152.86, 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.
F4 Shares withheld to satisfy tax obligations arising out of vesting of PSA.
F5 Shares held by the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F6 Shares held by A&E Investment LLC, the sole member of which is the Lip-Bu Tan and Ysa Loo Trust dated 2/3/1992.
F7 Shares held by L Tan & N Lee TTEE, Pacven Walden Inc. 401(K) PSPS, FBO Lip-Bu Tan.
F8 Shares held by IRA FBO Lip-Bu Tan DB Securities Inc. Custodian Rollover Account DTD 5/19/1997.
F9 These options vested at a rate of 1/48th per month starting on March 8, 2016.

Remarks:

Exhibit List - Exhibit 24 - Power of Attorney